Niall Ferguson,

Civilization: The West and the Rest


The Industrial Revolution: How the West Eclipsed Asia

Like the French Revolution  before it, the British Industrial  Revolution spread across  Europe. But this was a peaceful  conquest. . . The first true  cotton mill, Richard  Arkwright's at Cromford in  Derbyshire, was built in 1771.  Within seven years a copy  appeared in France ... The  Americans, who had the  advantage of being able to  grow their own cotton ... were  a little slower: the first cotton  mill appeared in Bass River,  Massachusetts, in 1788.    ... In 1800 seven out of the  world's ten biggest cities had  still been Asian, and Beijing  had still exceeded London in  size. By 1900, largely as a  result of the Industrial  Revolution, only one of the  biggest was Asian; the rest  were European or American.

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In Search Of History

4,000 Years Of Price Control

Tablets, said to be 200 years older than the Babylonian Code of Hammurabi ... show that the ancient kingdom of Eshnunna had wage control and price control. The news ought not to have come as a surprise. For the code of Hammurabi itself (unearthed in 1902), which was promulgated earlier than 2000 B.C., fixed prices, wages, interest rates, and fees. This makes price control at least about 4,000 years old. ...

 

Ironically, it is those who now wish to return to this ancient totalitarian device who are fondest of calling themselves “progressives.” They are also fond of saying that those who believe in economic liberty “are living in the nineteenth century.” These controlists have yet to learn that they themselves are still living, as the discoveries in Babylonia attest, in the nineteenth century—B.C.!

-- Henry Hazlitt,

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