The Economic History of Progress and Challenges

The podcast emphasizes the dual nature of economic history, acknowledging that while significant progress has been made over time, it has also come with serious challenges. Over the past 50 years, for example, global poverty has decreased dramatically from over 60% to below 10%, showcasing effective economic growth and improvement in living standards. However, this progress has coincided with pressing issues such as rising carbon emissions, which have more than doubled, leading to severe implications for climate change. This juxtaposition highlights the persistent question: can ongoing economic development continue without exacerbating existing environmental crises?