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A Farewell to Alms: A Brief Economic History of the World (Princeton Economic History of the Western World)
 
 
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A Farewell to Alms: A Brief Economic History of the World (Princeton Economic History of the Western World) [Paperback]

Gregory Clark
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Product details

  • Paperback: 432 pages
  • Publisher: Princeton University Press (29 Dec 2008)
  • Language English
  • ISBN-10: 0691141282
  • ISBN-13: 978-0691141282
  • Product Dimensions: 22.1 x 14.5 x 3.3 cm
  • Average Customer Review: 3.9 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Bestsellers Rank: 201,579 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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Gregory Clark
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Review

Right or wrong, or perhaps somewhere in between, Clark's is about as stimulating an account of world economic history as one is likely to find. Let's hope that the human traits to which he attributes economic progress are acquired, not genetic, and that the countries that grow in population over the next 50 years turn out to be good at imparting them. Alternatively, we can simply hope he's wrong. -- Benjamin M. Friedman, New York Times Book Review

Clark's idea-rich book may just prove to be the next blockbuster in economics. He offers us a daring story of the economic foundations of good institutions and the climb out of recurring poverty. We may not have cracked the mystery of human progress, but A Farewell to Alms brings us closer than before. -- Tyler Cowen, New York Times

[C]lark is very good at piecing together figures from here and there, including those from isolated groups of hunter-gatherers alive today. He makes a plausible case for the basic pattern: for thousands of years before the Industrial Revolution, there was essentially no sustained improvement in mankind's general material standard of living, nor was there much variation from place to place around the world. The Industrial Revolution made all the difference. -- Robert Solow, New York Review of Books

A Farewell to Alms asks the right questions, and it is full of fascinating details, like the speed at which information traveled over two millennia (prior to the 19th century, about one mile per hour). Clark's combination of passion and erudition makes his account engaging. When a light bulb goes off in my head, the first thing I ask myself is 'Would this be interest if it were true?' Clark's thesis definitely meets that test. -- Samuel Bowles, Science

Mr. Clark...has produced a well written and thought-provoking thesis, refreshingly light on jargon and equations. It could well be the subject of debate for years to come. -- "The Economist

Gregory Clark's A Farewell to Alms is fully as absorbing, as memorable and as well written as [Jared] Diamond's remarkable bestseller. It deserves to be as widely read.... [A]ny book that is as bold, as fascinating, as conscientiously argued and as politically incorrect as this one demands to be read. -- Clive Crook, Financial Times

Obviously, we?ve got a controversial argument here. But Clark makes a compelling case for the idea that the fruits of industrialization were open to all societies, but only a handful seized the moment. -- William R. Wineke, The Wisconsin State Journal

Gregory Clark's new book A Farewell to Alms is an investigation of both our nasty, brutish, and short past and our more prosperous present. Mr. Clark first makes the case that we owe our current prosperity to the gifts of the Industrial Revolution. He then attempts to explain why that revolution happened in 18th-century England. -- Edward Glaeser, New York Sun

Economic history often conjures images of musty tomes, bygone eras that no one knows about and in general, scholarship that is dry and difficult to relate to. Gregory Clark's new book A Farewell to Alms conveys a different image. Offering a sweep of history from the border between antiquity and the medieval age, the book is an attempt at tackling grand themes. -- Siddharth Singh, LiveMint

For a novel and somewhat dispiriting theory of economic divergence, read A Farewell to Alms, published this year, by Gregory Clark of the University of California at Davis. He doesn't accept the view, common among the utopians, that natural endowments like soil and water explain why rich nations are 50 times as prosperous as poor ones. How can differences in natural resources possibly explain Zimbabwe's misery or Singapore's wealth? Clark amasses an extraordinary collection of historical data to explain why the Industrial Revolution was born in western Europe, not Africa or India. -- William Baldwin, Forbes

Clark's ferociously systematic expounding of an alternative to the institutional explanation does...provide many delightful insights, large and small, along the way. Some of the observations in this very well-written book do make for nice dinner party anecdotes. -- Harold James, The American Interest

Comes now Gregory Clark, an economist who interestingly takes the side of culture. In an important new book, A Farewell to Alms Clark suggests that much of the world's remaining poverty is semi-permanent. Modern technology and management are widely available, but many societies can't take advantage because their values and social organization are antagonistic. Prescribing economically sensible policies (open markets, secure property rights, sound money) can't overcome this bedrock resistance. -- Robert Samuelson, The Washington Post

A Farewell to Alms is a brave new work, rich in both detailed facts and big ideas. Clark clears away much of the tangled brush of theories of long-term economic growth that have grown up in recent decades. This is the most ambitious and far-reaching book on long-term economic history to appear in many years, perhaps since Jared Diamond's Guns, Germs, and Steel. -- Jack A. Goldstone, World Economics

Clark's book A Farewell to Alms is . . . Ambitious, staking out an entire vision of world history. . . . Clark's Malthusian model is forcefully argued. -- Roger Gathman, Austin American-Statesman

[T]he author's engaging style and (relatively) jargon-free descriptions of the economic principles in play before, during, and after the Industrial Revolution in England turn this rich and detailed account into more of a sprint than a slog. . . . Whatever your reaction to this decidedly un-PC take on economic aid, [A Farewell to Alms] serves as a useful explanation of how we got where we are today and a reminder that new approaches are needed to close the yawning gap between the world's richest and poorest societies. -- Roberta Fusaro, Harvard Business Review

Clark argues the English evolved biologically in ways that created prosperity. Before you dismiss the notion, read this brilliant tour of economic history. -- "MoneySense Magazine

Clark adds substantively to an understanding of perhaps the important questions of this--or any--era: what makes economies grow, and why have some not experienced any success at all?....Alms is provocative, authoritative, insightful, readable, well documented, and an inescapable detour for anyone wanting to tackle economic growth and development topics and enter into these conversations. -- A. R. Sanderson, Choice

Gregory Clark has written a fascinating book which is chock-full of insight and ideas. Clark paints on a big canvas and his deft handling of the puzzles and counterintuitive outcomes is delicious. 'No one,' he says, 'can claim to be truly intellectually alive without having understood and wrestled, at least a little, with these mysteries'. We are indebted to him for revealing more of them in such an electrifying fashion. -- Ian R. Harper, The Melbourne Review

[A Farewell to Alms] is one of the most fascinating, and the most disturbing, historical works I have read. It seems to suggest that the gross inequality of our world has less to do with the inherent unfairness of global capitalism and more with scarcely ineradicable cultural difference. . . . [T]his is economic history as you never read it before. -- A.N. Wilson, The Daily Telegraph

Why do some nations get rich while others stay poor? What are the conditions that allow an economy to take off and grow? These questions have puzzled economists for many years. But no explanation is more startling than the one proposed by Gregory Clark in his book A Farewell to Alms. -- Ross Gittins, Sydney Morning Herald

This is a fine book, bristling with interesting data and opinions, more extensive than this review can possibly convey. Readily accessible to non-fiction readers, this book should fire more debate about a historical episode of unfailing fascination. -- Michael G. Sargent, Interdisciplinary Science Reviews

This is . . . a remarkable book, with an unerring focus on the fundamentals of the Malthusian economy and the large-scale economic trends. It is a unique source of factual information, beautifully presented in almost 200 tables and figures, and will make an excellent textbook for college-level courses of history and economics. -- Gerhard Meisenberg, Journal of Biosocial Science

[P]erhaps there is no higher praise for an author than to say that I disagreed with the arguments but liked the book. It made me think in new ways about the course of economic history. I recommend the book to anyone with an interest in the economic history of the world. -- Rick Szostak, New Global Studies

I derived enormous stimulation from this book. At a superficial level, Clark offers a richly documented picture of England's economic history, put into perspective by comparisons with other parts of Europe and with the Far East, and sometimes even by references to amazing facts about ancient forager societies. . . . More fundamentally, the layman gets a good understanding here of what made for the Industrial Revolution and how its preconditions evolved in England over a period of centuries. Clark accuses economists of being undereducated about history. This will be somewhat remedied if they read his provocative book. -- Wolfgang Kasper, Policy

As a self-proclaimed exercise in 'big history' this work succeeds extraordinarily well: it is engaging and readable, and it renders abstruse economic models and empirical results accessible to nonspecialists. -- Zorina Khan, Technology and Culture

A Farewell to Alms is . . . worth scrutinizing. The book offers a distinct line of thought on evolutionary affairs. It is also valuable in historiographical terms as it recalls historical explanation forsaken due to shifting scholarly fashions. -- Ian Morley, The History Teacher

Gregory Clark has written a stimulating, provocative, witty, and ambitious book. It is accessible to the uninitiated and a pleasure to read. Clark's valuable insights are presented with an admirable forcefulness, as are his grievous errors. In short, this is a book very much worth reading for the sake of argument and debate. -- Jan De Vries, Journal of Economic History

Clark has provided a sensible and readable account of important frontier research in economic history. -- Peter Howitt, Journal of Interdisciplinary History

Gregory Clark has given us a very provocative work. It is economic history, but with strong implications for contemporary problems. His quantitative techniques for demonstrating such phenomena as the innumeracy of pre-industrial humanity and the evolution of the speed of information flows are clever. -- Arnold Kling, Journal of Bioeconomics

Product Description

Why are some parts of the world so rich and others so poor? Why did the Industrial Revolution--and the unprecedented economic growth that came with it--occur in eighteenth-century England, and not at some other time, or in some other place? Why didn't industrialization make the whole world rich--and why did it make large parts of the world even poorer? In A Farewell to Alms, Gregory Clark tackles these profound questions and suggests a new and provocative way in which culture--not exploitation, geography, or resources--explains the wealth, and the poverty, of nations.

Countering the prevailing theory that the Industrial Revolution was sparked by the sudden development of stable political, legal, and economic institutions in seventeenth-century Europe, Clark shows that such institutions existed long before industrialization. He argues instead that these institutions gradually led to deep cultural changes by encouraging people to abandon hunter-gatherer instincts-violence, impatience, and economy of effort-and adopt economic habits-hard work, rationality, and education.

The problem, Clark says, is that only societies that have long histories of settlement and security seem to develop the cultural characteristics and effective workforces that enable economic growth. For the many societies that have not enjoyed long periods of stability, industrialization has not been a blessing. Clark also dissects the notion, championed by Jared Diamond in Guns, Germs, and Steel, that natural endowments such as geography account for differences in the wealth of nations.

A brilliant and sobering challenge to the idea that poor societies can be economically developed through outside intervention, A Farewell to Alms may change the way global economic history is understood.


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6 of 6 people found the following review helpful
Format:Paperback|Amazon Verified Purchase
Dear Professor Clark

I began your book with excitement. At last, an explanation of the industrial revolution, a timely reminder that Malthus was right, even though we were always taught that as soon as he founded economic science conditions changed and made Malthus wrong. From the perspective of quantitative economic history (your speciality) we can now see that the Malthusian trap is the default condition of humanity; indeed your analysis is even more pessimistic than the good reverend's.

Making lists of people this book will annoy is quite fun. I counted marxists, doctors, teachers, development economists, mothers at bath-time, farmers, UN apparatchiks, republicans, feminists, industrialists... before giving up and beginning a list of those whose preconceptions WON'T be challenged by this book.

After Malthus, you go on to discuss that old chestnut "causes of the industrial revolution". The usual suspects - agricultural efficiency, birth control, the patent office, peace, law and order, minimal taxation, democracy, etc. - are magisterially dismissed.

This leaves your pet theory, that social mobility - specifically downward mobility - and the consequent acquisitiveness is the key to advance. Here (though I've none of your command of the stats) I start to have doubts. The condition you posit is that the upper classes in England were disproportionately fertile, hence spread their genes to all sectors of society. So they were, according to your data (very good charts and tables throughout, by the way). But you would have to prove that the rich were actually different to the poor (the Fitzgerald / Hemingway exchange) to begin with as bourgeois virtue spread through the population. Then you'd have to prove that this was a more rapid and efficient process than other breeding drivers such as infanticide, arranged marriage, endemic disease, militarism, etc obtaining elsewhere in the world. (As an aside, perhaps you could explain why cousin marriage seems to work rather better for the Rothschilds than for Pakistanis?) Then you'd have to explain why, as the speed of development gathered pace upper class fertility dropped off with no effect (or a contrary one) on economic growth. Regrettably, your thesis seems entirely lacking in supporting statistics. Maybe there are none?

To the reader, then, the industrial revolution remains a puzzle. Why, from surely the smuggest period in English history (the Augustan age) did per capita income suddenly take off? Clearly there was some kind of "tipping point" but your book, so far as I can see, fails to identify it and fails to show how it might be replicated. The quotation at the beginning of chapter 11 seems very appropriate.

The title is a clever play on words (Hemingway, Shakespeare, Dryden, Virgil etc.) but what does it mean?
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21 of 23 people found the following review helpful
Format:Hardcover
In A Farewell to Alms, Gregory Clark asks good questions: why did we wait so long for the industrial revolution? why did it occur when and where it did? why has it still not taken universal effect? He attacks the conventional story which sees the crucial pre-condition as the inalienability of property rights, first occurring in England. In other words, he argues that institutional arrangements don't matter that much.

A Farewell to Alms has three broad strands. First, from the agricultural to the industrial revolution, accumulated capital and improved technology served largely to increase population. This section of the book presents some wonderful data, but Clark's argument is close to circular and less novel than he suggests. In any event, by his own account his analysis allows for a substantial variation in living standards between one and another society.

Second, the industrial revolution was triggered by a slow accumulation of habits and values in English society, making for successful economic practices, which did not occur in (for example) China and Japan. If true, this would be very interesting, so let's explore it a little. Clark's argument draws attention to literacy, violence and interest rates. Let's focus on interest rates, which have the most objective data and are most relevant to economic life. Clark points out that rates in Western Europe fell from 10% or so in the middle ages to 4-5% on the eve of the industrial revolution. He goes on to note that rates include a "risk premium" and a "time-preference", capturing the universal inclination to consume today rather than tomorrow. The customary account of this fall emphasises the decline in the risk premium due to the improvement of property rights. By contrast, Clark argues that property rights were always pretty secure in England. Instead he proposes that there was an alteration in time-preference: that over the 400 to 500-year period, Englishmen became more willing to defer immediate gratification.

His explanation for this is bizarre: that middle-class values (or possibly genes) permeated English society, because of the downward mobility of the surfeit of children born to the wealthy (but not the aristocracy, who killed themselves in battle with such gusto as to fail to reproduce altogether). On its face this is plain odd: everyday observation tells us that those undergoing downward mobility are keen to forget their parents' values. In addition, Clark's evidence won't haul the freight. He compares the surfeit of children born to wealthy testators (makers of wills) in England to the relative dearth born to Samurai and the royal family of Qin Dynasty China. But this fails to compare like with like. Wealthy testators in pre-industrial England were a mix of aristocrats, gentry-farmers and merchants. Samurai were military retainers (presumably not unlike the English aristocrats who also failed to reproduce), while members of the Chinese royal family were just that. We learn nothing from this comparison: Clark has failed to provide a reason to focus on time-preference rather than risk-premium in interest rates. So perhaps property rights are more important than he allows.

Finally, Clark tries to account for the divergence in economic performance between the developed and less-developed world. To simplify matters, he argues that folks in the third world simply work less hard, once again possibly because their genes may incline them to do so. Setting aside the insalubrious whiff of this reasoning, it doesn't dispel the need to consider institutions and property rights. How otherwise to explain the comparative performance of East and West Germany; the success of China after Deng or Spain after Franco, the latter suggestively excluding the Hispanic economies of the Americas over the same period.

A Farewell to Alms presents some wonderful data but its author strains for controversy so much as to undermine his arguments' effect. Clark is stimulating but wrong-headed.
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1 of 1 people found the following review helpful
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Why did the industrial revolution happen in Britain? Why not in more populous advanced agrarian societies like India or China? This simple question has tormented generations of economists. To be sure, many economists, historians, politicians and other intellectuals have developed answers to the question. Some, the institutionalists, argue that Britain developed institutions (rule of law, clear property rights, representative democracy etc) that rewarded private enterprise; therefore, British entrepreneurs and inventors took advantage of the benign social regime and, presto, industrial revolution. Other thinkers, like Weber, attribute British and north European economic success to the Protestant work ethic, which glorifies labour and the enjoyment of worldly goods (presumably, unlike the vapid, other-worldly post-Tridentine Catholicism that held sway in southern Europe). Yet, other thinkers have credited other factors like genes, culture, climate and race/ethnicity for Britain's economic development. None of these explanations is likely to be a silver bullet: there is, perhaps, some truth in most of the explanations. Mono-causal explanations of complex social phenomena can be intellectually naïve, at best, and irresponsible at worst. I was therefore surprised that in A Farewell to Alms, Professor Gregory Clark, a distinguished professor of economics history at University of California Los Angeles (UCLA), hung his intellectual coattails on the genetic and culture argument

RECORDS IN ENGLANDS REALLY IMPRESSIVE

The book is not without merit. I was really impressed by the research that Professor Clark presented on economic conditions in pre-industrial Britain, an age he calls the Malthusian age when population was the main determinant of income per head. Economic productivity in this age was low; any rise in living standards led to a rise in population, which, in turn, led to starvation, disease and subsequent decline in population. Sounds familiar? Life back then must have been nasty, brutish and short

Citing work from many authors (including his own), Clark shows conclusively that the richer a man was in pre-industrial Britain, the higher the number of surviving children he had: before 1800 (the generally-accepted date of the industrial revolution), the rich in Britain were outbreeding the rest of the population. Huh? Yes, the modern world in which rich countries have lower birth rates than poor countries bucks this long-run trend. Furthermore, using data from parish records that stretch to 1400, Clark cleverly adduces the literacy rate in Britain using the percentage of plaintiffs and defendants who could sign their names. He demonstrates that rising literacy (a consequence of the Protestant Reformation) seems to correlate with economic output. The volume of economic and social data from pre-industrial Britain is really impressive. It is testament to the relative stability that Britain enjoyed from 1200 to 1800.

AWAY WITH THE INSTITUTIONALISTS

Professor Clark challenged the institutionalist argument that British society rewarded invention and, therefore, encouraged entrepreneurs like James Watt and Richard Arkwright to invent the steam engine and the cotton mill respectively. Clark showed that almost all notable British inventors of the eighteenth and nineteenth century did not reap massive rents from the productivity increases that their inventions afforded. Most of the surplus was enjoyed, instead, by consumers in the form of cheaper garments. This, according to Clark, suggests that inventors were not "in it for the money". Well, not quite.

Clark's analysis does not distinguish between expectations and outcomes. Perhaps most inventors did not become rich, but there is no telling whether they invested their energies in the hope of becoming rich. And they all had the example of Richard Arkwright who became fabulously wealthy (his estate was worth £0.5million at his death). We, however, have the benefit of hindsight. Expectations of future profit often exceed reality (see the Dotcom boom).

THE GENETIC AND CULTURAL ARGUMENT - AGAIN

Professor Clark analyses nineteenth century textile industry in detail. (Like any self-respecting MBA, I love industry analysis.) The textile industry was important in the industrial revolution because it underwent a near sixty-fold productivity increase in the course of the nineteenth century. Indeed, Clark argues convincingly that the textile industry generated most of the productivity growth of the British economy over the argument.

He compares the productivity of Indian and UK textile mills. Even though UK mill workers cost significantly more than their Indian counterparts, investors found the UK textile industry more attractive than India's: using the same inputs as the Indian workers, UK textile workers were considerably more productive than India's. The reason: Indian textile workers were lazier than the UK workers (evidence: high absenteeism). Indian workers seemed to take a more `relaxed' approach to work than the UK workers. Hmm.

This comparative analysis is facile. It completely neglects the external environment. Was management style in British mills significantly different from Indian mills? Was there a consistent reflective focus on productivity improvement in Indian mills as there was in UK mills? Clark extrapolates too readily from low productivity to worker attitudes (culture). He even basis his analysis, in part, on (British) accounts of native Indian custom. Talk about unbiased observation.
Professor Clark also argues that since upper and middle-class men produced more children than the poor, the children of the rich slowly diffused from their middle-class status and permeated British society with veritable middle-class values. By 1800, therefore, Britain had become thoroughly bourgeois (hard-working, responsible, inclined to seek profit, loving family etc). Yet, Professor Clark does not give any evidence to support this hypothesis. Even if it is true that the children of the upper and middle-class slowly spread into the lower ranks of British society, there is no guarantee that they took their `middle-class' values with them as they descended in rank. Could they have imbibed lower-class values as well?

RELIANCE ON DATA FROM ENGLAND

As impressive as the data in England is, it does not encompass the totality of the Malthusian age. Yet, Professor Clark uses pre-1800s England as a proxy for the Malthusian world. Clearly, this requires a stretch of credulity. However, due to the paucity of reliable written records from the Malthusian age of other societies, this limitation of the book is pardonable

In fairness to Gregory Clark, he presents the main arguments for the start of the industrial revolution. However, A Farewell to Alms is incomplete--perhaps necessarily so. No single theory can successfully explain a phenomenon as complex as the industrial revolution. I recommend A Farewell to Alms because Gregory Clark challenges arguments that economists (via the IMF and World Bank) in their efforts to spur economic development among the poor in today's world.
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