A Farewell to Alms

More about the book

Do economists from the World Bank and the International Monetary Fund operate under a mistaken notion of the causes of economic growth? In "A Farewell to Alms," Gregory Clark presents the provocative thesis that the wealth and poverty of nations are determined not by geographical factors, labor resources, or natural wealth, but by culture. The author demonstrates that only societies with a long history of settled life, which have developed effective institutions ensuring security, are capable of sustainable economic development. "A Farewell to Alms" is a compelling and sobering challenge to the belief that poor societies can achieve economic growth through external intervention, potentially changing the way we think about the economic history of the world.