The Rise of The Western World

The rise of the Western world of the 16th century, the power of the world is different from today. At that time, there were not as important countries as China. China's advanced technology, fertile irrigation land, good canal system, and good management are many advantages of competing countries. China is definitely superior to other world powers, but some civilizations are not retreating. The Muslim world rapidly expanded in the 16th century.

After the rise of the Western world that began in the 15th century and the rise of America that began in the latter part of the 19th century, we will embrace the third contemporary worldwide shift - "Fareed Zakaria" and the emergence of a truly globalized world We are witnessing. For the first time in history, the development of the world economy became possible. Many countries other than Europe and the United States are rapidly growing, but Europe seems to be in a bad state. Since 2007, we face a series of crises such as subprime mortgage crisis, banking crisis, sovereign debt crisis, euro crisis. Crisis thinking is the main feature of European society, economy and people's thinking

When economists try to explain economic growth, they act like art historians as they try to explain the emergence of Mona Lisa through its essential nature. Therefore, a possible explanation of the rise of the Western European world is usually developed around its various characteristics, namely the bounty of resources such as geography, coal, iron, empire, Protestant ethics, or its own culture . The reason can easily be understood. Economists like explanations based on incentives. If we believe that incentives are essential to economic outcomes, rules that rewards looting, theft or slavery rather than rewarding productive entrepreneurship and innovation will lead to bad results I expect that. Most of us will agree that the low barriers to entry into the industry are good and excessive tax rates imposed on production activities are not good. Special interest groups are for the government. Looting is bad, and so on