Author says:
“The rise in the importance of capital over the last two
centuries is the major reason for the relative decline of the Muslim countries.
The capital accumulation process, together with wars and
depressions, has continued until we arrive at the geographical pattern of
global wealth seen today.
Because of industrial wealth, the global and religious
imbalance in income distribution is greater now than at any time in history.
How did the "Western" countries manage to get
into this favorable position? It is not a matter of recent circumstance.
The sequence of events – Renaissance, Protestantism,
exploration, colonialism, imperialism, Enlightenment, culminating in the industrial
revolution and economic development – started in Europe and then spread around
the world.
No other prior civilization had been able to achieve the
momentum of this sequence of historical developments that has lead to such
current prosperity, albeit unevenly spread.
It occurred in Christian countries, but what were the
essential ingredients that generated it?”
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