Figure 1.--

Africa was where all humans evolved. but it is the humans that migrated out of Africa that would create the great civilizatios and economies. Asia is by far the largest continent with the largest population. It is dominated by China and the economy develope independently from the other centers of civilzation in western Asia (the Middle East) and South Asia (Indus Valley). China was the youngest of the great river valley civilization but has the lonest recorded history. China's isolation was due to the Himilayas, the Gobi Desert and the vast European Steppe inhabitted by warlike mounted tribesmen. China in isolation developed the richest pre-industrial society which also proved to be an engine for technology. South of the Himalayas another rich economy developed, entirely separate from China. The Silk Road provided the first connecting link between East and West. The problem with this and subsequent exchange is that China produced all kinds of luxury goods the west wanted while the West produced very little the Chinese wanted. Thus the trade had to be financed by gold and silver. This continued after Eropeans launched the voyages of discovert (15th century) and maritime trade commenced. The trade was financed by the vast Spanish silver discoveries in Bolivia (18th century) and then by opium and industrial manufactured good (19th century). It was Europe that would lead the world into the modern age. Maritime trade undercut the ecomomies of the Middle and Muslim powers wjic had control of land routes between China and Europe. Science and capitalism would lead to the creation of indistrial scocies generating vast wealth and human progress and well being on an unprecsented scale. The Americas laid unknown between Europe and America indiscovered for millenia. South America would be colonized and developed by the Catholic powers (Portugal and Spain). North America would be settled by Protestant England. The result was starteling different outcomes. Authors with ethical motives blackened the idea of capitalism and promoted socialism as the economic system of the future. The Soviet Union in Europe and Maoist China in Asia, however, proved that socialism destroyed wealth. Europe and America America had demonstated how capitalism created wealth. And the asian Tigers and China after market reforms demonstated once again how capitalism generates weath and well being.

Africa

Africa was where all humans evolved. but it is the humans that migrated out of Africa that would create the great civilizatios and economies.

Asia

Asia is by far the largest continent with the largest population. It is dominated by China and the economy develope independently from the other centers of civilzation in western Asia (the Middle East) and South Asia (Indus Valley). China was the youngest of the great river valley civilization but has the lonest recorded history. China's isolation was due to the Himilayas, the Gobi Desert and the vast European Steppe inhabitted by warlike mounted tribesmen. China in isolation developed the richest pre-industrial society which also proved to be an engine for technology. South of the Himalayas another rich economy developed, entirely separate from China. The Silk Road provided the first connecting link between East and West. And the Asian Tigers and China after market reforms demonstated once again how capitalism generates weath and well being.

Europe

The problem with this and subsequent exchange is that China produced all kinds of luxury goods the west wanted while the West produced very little the Chinese wanted. Thus the trade had to be financed by gold and silver. This continued after Eropeans launched the voyages of discovert (15th century) and maritime trade commenced. The trade was financed by the vast Spanish silver discoveries in Bolivia (18th century) and then by opium and industrial manufactured good (19th century). It was Europe that would lead the world into the modern age. Maritime trade undercut the ecomomies of the Middle and Muslim powers wjic had control of land routes between China and Europe. Science and capitalism would lead to the creation of indistrial scocies generating vast wealth and human progress and well being on an unprecsented scale. Authors with ethical motives blackened the idea of capitalism and promoted socialism as the economic system of the future. The Soviet Union in Europe and Maoist China in Asia, however, proved that socialism destroyed wealth. Europe and America America had demonstated how capitalism created wealth.

The Americas

The Americas laid unknown between Europe and America undiscovered for millenia. At the time that nomadic Siberian hunters crossed Bearing Straits into the Americas, their technology and hunter-gather economic activity was basically the same as humans in other areas. The Paeolithic/Agricultural Revolution developed independently, but more slowly in the Americas than the Old World, although they did come up with the two most important croups--corn and the potato. There are various theories about this including the north-south axis of the contunents, the lack of draught animals, and other ideas, but the most important may have been the isolation of the Americas. Major civilizations emerged in Meso-America and South America, but nor in what are the two major Noerth american counrries--the United States and Canada. South America would be colonized and developed by the Catholic powers (Portugal and Spain). North America would be settled by Protestant England. The result was starteling different outcomes. South America like Spanin and Portugal languished while North America, especially the United States in the space of only a century exploded into the world major industrial power. There are various reasons for this. Latin America was governed by royal decree. There were no local governing institutions allowed. Portuguese and Spanish law governed. Latin America was affected by the Inquisition which not only had religious impacts, but impacts on ways of thought and inquiry. Other aspects of conservatuve Catholocism influenced the region. There were no public education systems and much of its population, the Native Americans, reduced to serfdom. North America was very different. Local systems of democratic self government emerged in the English colonies from an early point. English Common Law dominated the legal system. North America was influenced by the Enligtenment which encouraged inquiry and debate. Public education systems emerged in the English colonies, actually before England itself. Slavery developed in the United States, mostly the southern states, but in the North a system of free labor dominated. Asam Smith had published Wealth of Nations in the same year that America had declared independence (1776). And not country adopted the principle of capitalism more thourougly than the new United States. After the Wars for independence, the United States economy developed very rapidly while few Latin American countries made much progress. A new difference appeared. Socialist ideas became increasingly popular anong the Latin American inteligencia even before countries of the region had even attempted capitalism. As a result many Latin American countries adopted socialist, statist development policies with little success. Cuba adopted the most radical pursuit of socialism and exoerienced abject faiure. Venezuela folloed suit and even with vast oil revenue failed. Other countries adopted market reforms like Chile and Brazil and achieved some success. There has been nothing like the successes achieved in Asia by the Asian Tigers, China, and India. We are ot entirely sure why. We suspect it is the widespread belief in socialis, throughpout the region. Notably the principal opposition parties in Venezuela are sicilist parties.

Created: 11:34 PM 8/27/2017
Last updated: 11:35 PM 8/27/2017