Lesson 2: Theories of Economic Disparity

January 21, 2021

Zoom Recording

Review:

• Syllabus and Course Overview
• Guns, Germs and Steel by Jared Diamond
  • agricultural practices spread easily in mideast/eurasia
  • easily domesticated animals were plentiful in mideast/eurasia
  • both facilitated development of technology

Presentation:

• Niall Ferguson – 6 Killer Apps of Prosperity
  1. competition
  2. scientific revolution
  3. private property rights
  4. modern medicine
  5. consumer society
  6. work ethic

• Per Capita GDP (2019)
  • China: $8,254.5
  • US: $55,753.1

• Per Capita GDP Ratio (2019)
  • USA/China = 6.8

• The World is Flat – Thomas Friedmann
• The “Rest” have caught up to the West – Hans Rosling

• My alternative, hierarchical “Prosperity Apps”
  • Public Health + Sanitation
  • Market Economy (no stupid central planning)
  • Education and Infrastructure (invest in the future)
  • Equal opportunity
    • gender (family planning)
    • racial (social harmony)
    • economic (domestic capacity utilization)
  • Peace

• Watch The Best Stats You’ve Ever Seen (0:00-05:50)
• Watch Asia’s Rise – How and When (15 min)

Assignment:

• Complete 30 Most Populous Countries Map Quiz
• Complete 25 Major World Cities Map Quiz
• Watch the rest of The Best Stats You’ve Ever Seen (19 min)
• Watch How not to be Ignorant about the World (19 min)