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Lecture 2 - Growth
Economic Development
Quiz 1
1. How many people on the planet in 1820?
2. What was life expectancy in 1820?
3. What was the GDP per Capita per Day in
1820
What is wealth?
What is wealth?
What is wealth?
Anything people
value
What is capital?
What is capital?
What is capital?
Anything people
can use to create
value
The Capitals of Innovation
Cultural
The Capitals of Innovation
Cultural
The Capitals of Innovation Cultural
Cultural
The Capitals of Innovation Cultural
Worldview
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Rights
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Rights
Freedom
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Rights
Freedom
Dignity
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Rights
Freedom
Dignity
Cooperation
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Rights
Freedom
Dignity
Cooperation
Trust
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Rights
Freedom
Dignity
Cooperation
Trust
Taxes
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Rights
Freedom
Dignity
Cooperation
Trust
Taxes
Regulations
Cultural
The Capitals of Innovation Cultural
Worldview
Purpose
Values
Institutions
Rules
Rights
Freedom
Dignity
Cooperation
Trust
Taxes
Regulations
Stability
Cultural
The Capitals of Innovation
Cultural
Human Beings
The Capitals of Innovation
Cultural
Ideas
Human Beings
The Capitals of Innovation
Cultural
Ideas
Physical
Human Beings
The Capitals of Innovation
Cultural
Ideas
Physical
Human Beings
The Capitals of Innovation
Physical
Cultural
Ideas
Physical
Human Beings
The Capitals of Innovation
Physical
Atoms
Cultural
Ideas
Physical
Human Beings
The Capitals of Innovation
Physical
Atoms
Energy
Cultural
Ideas
Physical
Human Beings
The Capitals of Innovation
Physical
Atoms
Energy
Water
Cultural
Ideas
Physical
Human Beings
The Capitals of Innovation
Physical
Atoms
Energy
Water
Time
Cultural
Ideas
Physical
Human Beings
The Capitals of Innovation
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Trust
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Trust
Health
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Trust
Health
Life Expectancy
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Trust
Health
Life Expectancy
Knowledge
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Trust
Health
Life Expectancy
Knowledge
Skills
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Trust
Health
Life Expectancy
Knowledge
Skills
Personality
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Trust
Health
Life Expectancy
Knowledge
Skills
Personality
Leadership
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Human
Trust
Health
Life Expectancy
Knowledge
Skills
Personality
Leadership
Networks
Cultural
Ideas
HumanPhysical
Human Beings
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical
Human Beings
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical
Human Beings
The Capitals of Innovation
Intellectual
Cultural
Ideas
IntellectualHumanPhysical
Human Beings
The Capitals of Innovation
Intellectual
Patents
Cultural
Ideas
IntellectualHumanPhysical
Human Beings
The Capitals of Innovation
Intellectual
Patents
Processes
Cultural
Ideas
IntellectualHumanPhysical
Human Beings
The Capitals of Innovation
Intellectual
Patents
Processes
Knowledge
Cultural
Ideas
IntellectualHumanPhysical
Human Beings
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Financial
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Financial
Money
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Financial
Money
Risk
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Financial
Money
Risk
Time
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Financial
Money
Risk
Time
(1+r)n
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Financial
Money
Risk
Time
(1+r)n
Insurance
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Financial
Money
Risk
Time
(1+r)n
Insurance
Corporations
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Financial
Money
Risk
Time
(1+r)n
Insurance
Corporations
Accounting
Cultural
Ideas
IntellectualHumanPhysical Financial
Human Beings
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Human Beings
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Human Beings
The Capitals of Innovation
Invention
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Human Beings
The Capitals of Innovation
Invention
Proof
of an
Idea
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Human Beings
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Markets
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Markets
Where value
is discovered
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Markets
Where value
is discovered
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Markets
Where value
is discovered
price system
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
InnovationInnovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Innovation
a
market-
successful
invention
Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Innovation
Cultural
Ideas
IntellectualHumanPhysical Financial
Inventions
Entrepreneurs
Human Beings
Markets
The Capitals of Innovation
Innovation

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