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The Birth of Plenty: How the Prosperity of the Modern World Was Created


Author: William J. Bernstein

Publisher: McGraw-Hill Professional

Year Printed: 2004

Edition: First

Printing: First

Condition: Very Good

eBook: Google eBook

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Pages: 432

Height: 9.25 inches

Width: 6.5 inches

Notes: Hardcover; Dust Jacket

Rather than dry academic analysis, Bernstein, in his second book (after Four Pillars of Investing), has created a vital, living text-a cogent, timely journey through the economic history of the modern world. He identifies institutions ("the framework within which human beings think, interact and carry on business") as the engines of prosperity. Boiled down to four (property rights, the scientific method, capital markets and communications), these institutions come from ideas and practices that bubbled forth over the course of hundreds of years. Bernstein is clear in explaining that the civilizations that develop and implement these systems thrive, and that those that do not, perish.