More From Less

impose constraints

it possible to profitably grow while taking less and less. In the Second Machine Age, that has changed.

institutions are that they’re devised by humans

four “pillars of economic freedom”: rule of law, government size, regulatory efficiency, and open markets.

“voice and accountability” and “control of corruption,”

Digital devices are not only spreading quickly; they’re also getting much more sophisticated. Instead of simple mobile phones, more than 1.5 billion smartphones were sold globally in 2017 (versus 450 million non-smartphones). These miniature computers are powerful. India’s most popular smartphone in 2018 was the Lyf Jio F90M. It is powered by a 1.2

closely to Acemoglu and Robinson’s definition of inclusive institutions. Key to both are the notions that most people have the opportunity to advance and flourish, that they have a fair shot in the marketplace, and that they get to keep what they earn and build.

“human rights protection” score that captures whether people are free from political repression, false imprisonment, torture, and related violations.

“Technology is the active human interface with the material world.