Deirdre McCloskey
Distinguished Professor of Economics and History, Emeritus, University of Illinois at Chicago

IEP The Tullock Lecture - Featuring Big Ideas About Information

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Monday Oct, 30th 2017 05:00 pm Memorial Auditorium, Tillman Hall
The poorest of humanity will soon be joining the comparative riches of Japan and Sweden. Why? Most economists—from Adam Smith and Karl Marx to Thomas Piketty—say the Great Enrichment since 1800 came from accumulated capital. McCloskey disagrees, fiercely. “Our riches,” she argues, “were made not by piling brick on brick, bank balance on bank balance, but by piling idea on idea.” Ideas are the key drivers of progress – ideas for electric motors, free elections, equal liberty and dignity for ordinary folk. Liberalism arose from theological and political revolutions in northwest Europe, yielding a unique respect for betterment and its practitioners, and upending ancient hierarchies. In the resulting Bourgeois Deal, we were all enriched.

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