This chapter examines the fundamental condition of poverty as an inherent aspect of humanity, exploring how survival challenges mirror those faced by wild animals. It contrasts the historical context of poverty with modern advancements in technology and infrastructure, demonstrating how these developments have significantly improved living standards. The discussion encompasses the evolution of labor dynamics, the impact of automation, and the ironic delay of the Industrial Revolution despite the presence of advanced technologies in ancient civilizations.
The universe, points out economist Noah Smith, is always trying to kill us, whether through asteroids hurtling through space or our every-few-hours hunger pains. Why, then, should we expect anything but a gravitational pull toward poverty? Listen as Smith explains to EconTalk's Russ Roberts why he believes that poverty will always be our "elemental foe," and how what he calls "industrial modernity" is key to keeping poverty at bay. They also discuss Smith's impatience with the "degrowth movement," which he thinks jeopardizes our gains in the fight against the elemental foe.