Liberal Ideas and the Great Enrichment

Heng-Fu Zou ()

No 659, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics

Abstract: Deirdre McCloskey's argument in favor of what she calls humanomics emphasizes the role of novel ideas about liberty and dignity for ordinary people as the driving force behind what she terms "The Great Enrichment." This period of unprecedented economic growth, beginning in the 18th century and continuing into the present, was not primarily driven by capital accumulation or institutional frameworks, but by the widespread social acceptance of bourgeois values that encouraged innovation and entrepreneurship among the masses.

Pages: 52 pages
Date: 2024-08-24
New Economics Papers: this item is included in nep-ent, nep-gro, nep-his and nep-hpe
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