The Enlightened Economy

Joel Mokyr is one of our finest economic historians, and his latest book on the Industrial Revolution in Britain, The Enlightened Economy, lives up to the adjective 'magisterial'. I reviewed it here recently. One of our finest economists, Ed Glaeser, has written a wise review of a wise book in The New Republic:

“Mokyr belongs to a group of economists who emphasize the importance
of political institutions that encourage investment by protecting
private property, but he again shows restraint: “Effective property
rights are rightly considered crucial for economic development, but they
were not the entire story.” He also emphasizes the human capital—the
skills and talents—of eighteenth-century Britain,… and …  the technical skills:
clock-making, mining, shipbuilding.

While the reader craves a simple explanation, there is none to be
had. The entire question of why the industrial revolution started in
England will never be definitively answered. The event was sui generis—a
one-off, as the English say—a bolt of lightning; and there are a myriad
of possible explanations for it. Some of those theories can be
rejected, but many of them remain reasonable.”

I commend both the review and the book. Deirdre McCloskey, always worth reading, has also reviewed it.