Markets are engines of growth and development, not just machinery
of allocation. Mechanisation and Innovation are instruments of
expansion, expanding the demand for labor, not just displacing
labor, because labor stored up in the machinery is much greater
than that displaced.
Economic development, which started vigorously in England
a little over two centuries ago, has provided economic comfort
to the majority of the population, ending the eons of inequality
which saw only a few in comfort, some in wealth, and has seen
a lessening of gross abuse and discrimination suffered by the
many. The creation of a middle class in terms of income enjoyed
has made it possible for a much larger part of the population
to indulge in the arts and become inventors and innovators of
better things in the future. Economic progress thus becomes an
established part of every day life for these communities.
The increase in talents to be used has been enhanced by the
introduction of general education and the expansion in the education
system. Some of this talent will be misused by mischievous and
evil minds, of course, human nature being what it is, but the
change in three centuries has been enormous, and economic and
social change, continuing through the decades, is in the process
of producing a very different world.
During the passing millennium a small backwater in the north
west corner of Europe developed into the most powerful nation
in the world. This extraordinary change was brought about by
industrialization. During the later years, in the eighteenth
and nineteenth centuries, despite strong efforts by the aristocrats
"to keep the workman in his place" market forces produced
jobs and incomes so as to create a real middle class in such
numbers as to acquire political control and result in vast improvement
in education, health and welfare. These almost miraculous changes
deserve a better explanation than has yet been offered.