Growth Recurring : Economic Change in World History (Economics, Cognition, and Society)

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Summary: Econimics and world history
Review: Eirc L. Jones (autor of the much discusses book on The European Miracle, 1988) discusses world history from an economical perspective. By training he is an economist. The basic concepts are intensive economic growth (innovation) and extensive economic growth (more of the same). According the Jones extensive growth must develop into intensive growth at some point in time. You can only have so many workers or machines in your factory before it comes economically useless (law of deminishing returns). China during the Sung (or Song) dynasty (960 - 1279 AD or CE)experienced extensive growth and reached unprecedented levels of economic welfare, commercialisation (market economy) and consumerism. Industrial output of iron during the Sung period was not reached again until the late 18th century in Britain. But China never experienced a so called Industrial Revolutian like Britain or other Western European countries. Why not? This 'frustration' (according to Jones) is explained by referring to values (culture), institutions (law), state action, and military conquest. This is a thought provoking book, but recent research on China (Pomeranz and Bin Wong) dismiss Jones answers.