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Richard Rosencrance
Following a line of argument pioneered by Arthur Lewis, the late economics Nobel laureate from Princeton University, Pomeranz shows in The Great Divergence that industrial development depends upon countries overcoming the "land constraint." This means that countries must increase productivity on the land to free labor to work in factories and mines. They need a surplus on the farms to support consumption in the cities, and they also must raise capital to invest in industry.— National Interest
Overview
The Great Divergence brings new insight to one of the classic questions of history: Why did sustained industrial growth begin in Northwest Europe, despite surprising similarities between advanced areas of Europe and East Asia? As Ken Pomeranz shows, as recently as 1750, parallels between these two parts of the world were very high in life expectancy, consumption, product and factor markets, and the strategies of households. Perhaps most surprisingly, Pomeranz demonstrates that the Chinese and Japanese cores were ...