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Comment
. 2019 Nov 20:42:e202.
doi: 10.1017/S0140525X19000116.

There is little evidence that the Industrial Revolution was caused by a preference shift

David Hirshleifer  1 , Siew Hong Teoh  1
Affiliations
Comment

There is little evidence that the Industrial Revolution was caused by a preference shift

David Hirshleifer et al. Behav Brain Sci. .

Abstract

The idea, based on Life History Theory, that the Industrial Revolution was a positive feedback process wherein prosperity induced prosperity-promoting preference shifts is just an intriguing speculation. The evidence does not distinguish this explanation from simple alternatives. For example, increased prosperity may have freed up time for individuals to engage in innovative activity and increased the benefits from doing so.

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