VIDEO: “A Theory of History, With An Application” [Longnow.org]

Technologies rearrange materials with ingenious recipes and formulas. More people create more technologies, which in turn generates more people. In recent decades technology has enabled the “demographic transition” which lowers birthrates and raises income per person even higher as population levels off. The talk below is the first in a series of public discussions around the economic theory of history which explains phenomena such as the constant improvement of the human standard of living by looking primarily at just two forms of innovative ideas: technology and rules. Watch the full video below:

Paul Romer: A Theory of History, with an Application from The Long Now Foundation on FORA.tv