In 1776 Adam Smith invented economics. He talked about the invisible hand of the market, self interest being good and how growth is what actually matters. This is not challenged at all so I guess he was right.
Thomas Malthus finally shows up, after all that foreshadowing. He was also right about everything.
Karl Marx existed but we sadly don't have any records of his thoughts because he never wrote or said anything, apparently.
Now something like "The Great Depression" sounds like a bummer but turns out that's just the name of the year economists started caring about economic growth.
With the launching of World War II industry mobilized [...] demonstrating that an economy could still grow and could grow quickly. By the end of the war industrial production was vigorous and scientists and engineers were launching one discovery or invention after an other.
(Is it me or the tone here makes this sound like a weird marketing pitch for World War II? "New and improved, now with Nazi scientists!")
Anyway what matters is that because of all the cool tech that was the only consequence of the war, air conditioning was invented and suburbs materialized into existence. Economists had to adapt economic theory to fit this new reality but whatever they came up with is a secret, I think.
I love learning from my dear friend Margaret Robertson who never omits any important information or context.
