TED Talk

I do not completely agree or disagree with Niall Ferguson.  He feels that geography is not an advantage for societies to prosper.  I believe it is because some areas have more resources than others, i.e. tobacco and sugar plantations in the Caribbean during the Early Modern Era.  Ferguson argues that rules and laws allow for wealth increase, which I agree with because it unites the people under one government and allow them to function within their society.  His "6 killer apps" are competition, the scientific revolution, property rights, modern medicine, the consumer society, and work ethic.  He states that competition among individuals in a society thrives the economy, unlike uniformity.  I am inclined to agree because this relates to the supply and demand effect as well.  As people compete to sell their goods, they will likely lower the price, making people more likely to buy the products.  The scientific revolution only was occurring in Europe, which had a booming economy due to this time, according to Ferguson.  He does not really say why this helped the economy, and I can not find any way it does either.  He explains that when more people owned land, the economy went up.  I agree here because more people are able to make a living and produce for their region of living.  I also feel that modern medicine aided the economy because more people survived and were born, so more people were alive to have jobs and manufacture.  I do not feel that the consumer society enhances the economy as much as he claims, because people buying things like clothing will not propel the society forward.  His last killer app, work ethic, is one with which I whole-heartedly agree.  The effort and desire of the people to work is what even starts off any economy.  People that find a new innovative way to make money do not just come across it and never need to work (aside from winning the lottery or scratch tickets).  They put in their time and effort to stabilize their bank accounts.  For the economy to function, people need to be willing to work, even if they do not want to necessarily.  When people work, things are made, then sold, and the economy keeps flowing smoothly.