Under Capitalism,individuals own and control land,capital, and production of industry. Individuals are free topurchase and own their own homes, cars, furniture, and other goods suchas TV, radios, computers, boats, or any thing else you might want. Youhave total freedom to live where you want and what type of job fieldyou want to pursue. If you have an idea for a new business orinvention, you are free to pursue this without governmentinterference. Under this system you have the maximum number of choices in life. This is the ''from the .
After the Pilgrimslanded in 1620, they decided thatthey would plant a community garden and share the fruits and vegetablesequally atthe end of the season. The idea was that all would worktogether and share equally at the end of the season. However,no one wanted to work in the gardens. Most were reluctant todo the planting and weed a garden that was not theirs. Thatfirst year, the gardens were not well kept and theyhad poorcrops, which led to hunger the next winter. Under thissystem, by 1623 the colony was facing starvation. It wasdecided that a new system be used the following year. Eachfamily was given a plot of land to garden in proportion to its size. They would be allowed to keep the fruits and vegetables forthem selves.
“Cultural entrepreneurs,” as Mokyr calls them—people such as Bacon and Newton—were especially successful in promoting their scientific views, a rather surprising success considering that science, in its early years, not only was counterintuitive but also often failed to produce any practical results.
This elite became convinced that general progress through increased knowledge was both possible and desirable and that their new knowledge, obtained through the methods of science, should be spread in order to enlighten the people.
One of the was “the Republic of Letters.” This republic, which developed in the late seventeenth and eighteenth centuries, was a nonhierarchical, transnational community of scholars who corresponded with one another about new developments in the arts and sciences.
Doubt led to a crisis of the early modern European mind, which helps explain why the pioneers of early modern science, such as Francis Bacon and Isaac Newton, made such a sustained effort to establish the scientific method as a new foundation for knowledge—one based on empirical observation, experimentation, and reason.
The republic created a social arena in which reputations were built on the development and dissemination of new knowledge, knowledge that other people could test, contest, and use.
The cultural synthesis of the High Middle Ages, which combined Christian religious beliefs with rationalistic Aristotelian philosophy, was an uneasy melding of dogma, reason, and appeals to authority.
It was therefore difficult tosuppress offending ideas, since scholars could always offer such ideas to the highest bidder, ranging from the rulers of states to local entities such as towns, universities, guilds, or estates.
Although China was highly advanced in many regards, no comparable culture of growth ever developed there, in part because it lacked a true market for ideas.
Mokyr defines“culture” early on in the book as “a set of beliefs, values, and preferences, capable of affecting behavior, that are socially (not genetically) transmitted and that are shared by some subset of society.” The subset he is most interested in is the relatively small group of people (aristocrats, gentlemen, merchants, educated professionals) who drove advancements in science and technology during that time.
Finally, much of the new science discussed in the Republic of Letters was abstract and complex, whereas the innovations that powered the Industrial Revolution were tangible improvements made on the shop floor by practical craftsmen.
In the West, the great majority of the population works in services, where the economic effects of innovation have always been less impressive than in industry or agriculture.
In the fall of 2011many college students descended onWall Street in New York City. They were not demanding areform of Wall Street bankers who have cheated the American people, butrather they want to topple Capitalism, that they think is theproblem. It is not Capitalism that is the problem, it is . Lying cheating thieves are everywhere on the planet. They arepeople that think no matter what system they live in, they will find away to get theirs without having to work for it. They arebasically greedy people, and you will find them under Socialism,Communism or Capitalism. So let's not mistake the of blaming thesystem, when it is clearly the individuals that create thecrime.
Expertise, which was so prominent in the Enlightenment culture of growth, is now suspect, and the conviction has been raised that most theoretical knowledge—once considered a good in itself—is in economic terms actually quite useless.