This extraordinary text offers a proven combination of scholarship from an insightful economist and a renowned American historian. It recounts the development of capitalism and the age of machines through the voices of business leaders, working people, inventors, and an unusual cast of presidents, generals, and patriots. Unlike other books in the field of economic history, this text tells a story. While not ignoring statistics and percentages, this narrative focuses on the fact that America's economic transformation is an extraordinary drama--a drama that continues today.

This text offers a combination of scholarship from an economist and a renowned American historian. It recounts the story of capitalism and the age of machines through the voices of business leaders, working people, inventors and a cast of presidents, generals and patriots.

How did the West--Europe, Canada, and the United States--escape from immemorial poverty into sustained economic growth and material well-being when other societies remained trapped in an endless cycle of birth, hunger, hardship, and death? In this elegant synthesis of economic history, two scholars argue that it is the political pluralism and the flexibility of the West's institutions--not corporate organization and mass production technology--that explain its unparalleled wealth.

The revival of economic growth in Sub-Saharan Africa is all the more welcome for having followed one of the worst economic disasters—a quarter century of economic malaise for most of the region—since the industrial revolution. Six of the world's fastest-growing economies in the first decade of this century were African. Yet only in Ethiopia and Rwanda was growth not based on resources and the rising price of oil. Deindustrialization has yet to be reversed, and progress toward creating a modern economy remains limited. This book explores the vital role that active government policies can play in transforming African economies. Such policies pertain not just to industry. They traverse all economic sectors, including finance, information technology, and agriculture. These packages of learning, industrial, and technology (LIT) policies aim to bring vigorous and lasting growth to the region. This collection features case studies of LIT policies in action in many parts of the world, examining their risks and rewards and what they mean for Sub-Saharan Africa.