Reblogged: Ideas, Not "Capital," Enriched the World

7:45:00 AM

Why are we so rich? Who are “we”? Have our riches corrupted us?

“The Bourgeois Era,” a series of three l-o-n-g books just completed  — thank God — answers:

  • first, in The Bourgeois Virtues: Ethics for an Age of Commerce (2006), that the commercial bourgeoisie — the middle class of traders, dealers, inventors, and managers — is on the whole, contrary to the conviction of the “clerisy” of artists and intellectuals after 1848, pretty good. Not bad.
  • second, in Bourgeois Dignity: Why Economics Can’t Explain the Modern World (2010), that the modern world was made not by the usual material causes, such as coal or thrift or capital or exports or imperialism or good property rights or even good science, all of which have been widespread in other cultures and at other times. It was caused by very many technical and some few institutional ideas among a uniquely revalued bourgeoisie — on a large scale at first peculiar to northwestern Europe, and indeed peculiar from the sixteenth century to the Low Countries;
  • and third, in Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World (2016), that a novel way of looking at the virtues and at bettering ideas arose in northwestern Europe from a novel liberty and dignity enjoyed by all commoners, among them the bourgeoisie, and from a startling revaluation starting in Holland by the society as a whole of the trading and betterment in which the bourgeoisie specialized.

    The revaluation, called “liberalism,” in turn derived not from some ancient superiority of the Europeans but from egalitarian accidents in their politics from 1517–1789. That is, what mattered were two levels of ideas — the ideas in the heads of entrepreneurs for the betterments themselves (the electric motor, the airplane, the stock market); and the ideas in the society at large about the businesspeople and their betterments (in a word, that liberalism)...


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