How Economic Growth Has Made Us Smarter and More Unequal

Economic growth has been a major driver of progress in the modern world. It has led to increased productivity, higher living standards, and longer life expectancies. But economic growth has also come with a downside: it has made us smarter and more unequal.

The Smartening Effect of Economic Growth

One of the most striking effects of economic growth is its impact on intelligence. Studies have shown that people in wealthier countries have higher IQ scores than people in poorer countries. This is likely due to a number of factors, including better nutrition, healthcare, and education.

Human Capitalism: How Economic Growth Has Made Us Smarter--and More Unequal

by Brink Lindsey

4.1 out of 5

Language	:	English
File size	:	452 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	140 pages

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Economic growth also leads to increased technological innovation. New technologies make us more productive and allow us to solve problems that were previously impossible. This in turn leads to further economic growth, creating a virtuous cycle.

The Unequalizing Effect of Economic Growth

While economic growth has made us smarter, it has also made us more unequal. The gap between the rich and the poor has been growing in most countries around the world. This is due to a number of factors, including:

• The increasing demand for skilled workers. As economies grow, they need more workers with specialized skills. This has led to a rise in the wages of skilled workers, while the wages of unskilled workers have stagnated.
• The globalization of trade. Globalization has led to increased competition, which has put downward pressure on wages in many industries.
• The rise of automation. Automation is replacing workers in many industries, which is also putting downward pressure on wages.

The Challenges of Inequality

Inequality is a major problem for society. It can lead to social unrest, political instability, and economic stagnation. Inequality also makes it harder for people to improve their lives. For example, children from poor families are less likely to attend college and earn high-paying jobs than children from wealthy families.

Solutions to Inequality

There are a number of things that can be done to address inequality. These include:

• Investing in education and training. This will help workers to develop the skills they need to compete in the modern economy.
• Raising the minimum wage. This will help to ensure that all workers earn a living wage.
• Providing tax breaks to low- and middle-income earners. This will help to put more money in the pockets of those who need it most.

Economic growth has been a major driver of progress in the modern world. But it has also made us smarter and more unequal. The challenge for the future is to find ways to promote economic growth while also reducing inequality. This will be a difficult task, but it is one that is essential to creating a more just and sustainable world.

Human Capitalism: How Economic Growth Has Made Us Smarter--and More Unequal

by Brink Lindsey

4.1 out of 5

Language	:	English
File size	:	452 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	140 pages

FREE