The Enlightened Economy

**Winner of the Nobel Prize in Economic Sciences** ‘Joel Mokyr used historical sources as one means to uncover the causes of sustained growth becoming the new normal. He demonstrated that if innovations are to succeed one another in a self-generating process, we not only need to know that something works, but we also need to have scientific explanations for why. The latter was often lacking prior to the industrial revolution, which made it difficult to build upon new discoveries and inventions. He also emphasised the importance of society being open to new ideas and allowing change.‘ Why did Western countries become so much wealthier than the rest of the world? What explains the huge rise in incomes during the Industrial Revolution - and why did Britain lead the way? In the years between the Glorious Revolution and the Great Exhibition, the British economy was transformed. Joel Mokyr‘s landmark history offers a wholly new perspective for understanding Britain‘s extraordinary rise during the Industrial Revolution, showing how intellectual, rather than material, forces were the driving force behind it. While empire, trade, resources and other factors all played a part, above all it was the creative ferment of the Enlightenment - with its belief in progress and scientific advancement - that affected the economic behaviour of thinkers, inventors, entrepreneurs and artisans, taking Britain into the modern era. Linking ideas and beliefs to the heart of modern economic growth, The Enlightened Economy will transform the way we view the Industrial Revolution.