Niall Ferguson: The 6 killer apps of prosperity - YouTube:
This should be entitled the "End of the Great Divergence" but oh well. I thought I had shared this before, but I do not see it on the blog and even if I had, oh well. It is that important. I used it in class this semester and it actually was the basis of an essay question. It is not strictly finance, but it is more finance than anyone probably wants to admit. Watch it. Yes it is 20 minutes. But I bet you remember it 10 years from now more than anything else you will do today.
Over the past few centuries, Western cultures have been very good at creating general prosperity for themselves. Historian Niall Ferguson asks: Why the West, and less so the rest? He suggests half a dozen big ideas from Western culture -- call them the 6 killer apps -- that promote wealth, stability and innovation. And in this new century, he says, these apps are all shareable.