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Liberal Ideas and the Great Enrichment

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  • Heng-fu Zou

    (The World Bank)

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.

Suggested Citation

  • Heng-fu Zou, 2024. "Liberal Ideas and the Great Enrichment," CEMA Working Papers 659, China Economics and Management Academy, Central University of Finance and Economics.
    • Handle: RePEc:cuf:wpaper:659
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