Gregory Clark Quotes & Sayings
Enjoy the top 2 famous quotes, sayings and quotations by Gregory Clark.
Famous Quotes By Gregory Clark
Preindustrial living standards are predictable based on knowledge of disease and environment. Differences in social energy across societies were muted by the Malthusian constraints. They had minimal impacts on living conditions. Since the Industrial Revolution, however, we have entered a strange new world in which economic theory is of little use in understanding differences in income across societies, or the future income in any specific society. Wealth and poverty are a matter of differences in local social interactions that are magnified, not dampened, by the economic system, to produce feast or famine. — Gregory Clark
the good society would have a low rate of inheritance of social status and correspondingly low variations in income and wealth. — Gregory Clark