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EoE: 6.3.A - Why Does 1% of History have 99% of the Wealth

Throughout the history of the world, the average person on earth has been extremely poor: subsisting on the modern equivalent of $3 per day. This was true until 1800, at which point average wages—and standards of living—began to rise dramatically. Prof. Deirdre McCloskey explains how this tremendous increase in wealth came about. This video is included as part of a 40-lesson course on the Economics of Entrepreneurship available now for teachers and students at no charge at FEE.org/Courses.

from What Caused the Economic Boom of Wealth (2016)
Creator: Learn Liberty
Posted by Foundation for Economic Education
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