Leave Me Alone and I'll Make You Rich

What’s "Leave Me Alone and I’ll Make You Rich" by Deirdre Nansen McCloskey about?

• Central Thesis: The book argues that the Great Enrichment—an unprecedented rise in global wealth and living standards since 1800—was primarily caused by a shift in ideas, ethics, and rhetoric that valued liberty, dignity, and innovation, not by capital accumulation, institutions, or imperialism.
• Bourgeois Deal: McCloskey introduces the "Bourgeois Deal," where ordinary people are granted dignity and freedom to innovate and trade, leading to widespread prosperity.
• Optimistic Outlook: The authors maintain that if societies continue to embrace true liberalism—defined as personal and economic liberty—further enrichment and human flourishing will follow.
• Revaluation of Commerce: The book traces how society’s view of businesspeople shifted from contempt to honor, enabling innovation and economic growth through voluntary cooperation.

Why should I read "Leave Me Alone and I’ll Make You Rich" by Deirdre Nansen McCloskey?

• Challenges Pessimism: The book confronts common pessimism about poverty, inequality, and environmental decline, providing evidence that global well-being is improving.
• Debunks Economic Myths: It clarifies misconceptions about the causes of economic growth, showing that ideas and ethics, not just material factors, drive prosperity.
• Hopeful Framework: Readers gain a nuanced, optimistic understanding of how liberty and ethical markets can continue to improve lives worldwide.
• Comprehensive Historical Analysis: The book offers a rich narrative spanning economics, culture, and ethics, making it valuable for anyone interested in the roots of modern prosperity.

What are the key takeaways from "Leave Me Alone and I’ll Make You Rich"?

• Liberty Drives Growth: Human liberty and classical liberalism are necessary and nearly sufficient for the Great Enrichment, enabling innovation and voluntary cooperation.
• Ideas Over Capital: Changes in ethics, rhetoric, and ideology—especially the "Bourgeois Revaluation"—were more important than capital, institutions, or coercion.
• Poverty Is Declining: Global poverty has dramatically decreased, with the formerly poor benefiting most from economic growth driven by liberal ideas.
• Markets Embody Morality: Markets are not amoral; they embody virtues like justice and prudence and can foster cooperation and love.
• Optimism Over Pessimism: Historical fears about stagnation, inequality, and environmental doom have been repeatedly proven wrong by continued liberalism and innovation.

What is the "Bourgeois Deal" in "Leave Me Alone and I’ll Make You Rich"?

• Definition: The Bourgeois Deal is a social contract where ordinary people are granted dignity, liberty, and permission to innovate and trade freely, leading to economic betterment tested by profit and loss.
• Contrast with Other Deals: It stands in contrast to aristocratic, communist, welfare-state, and bureaucratic deals, which rely on coercion or top-down control and often stifle innovation.
• Ethical Foundation: The Deal is grounded in virtues like honesty, justice, and prudence, making commercial success honorable and encouraging innovation.
• Economic Impact: By allowing many to "have a go," the Bourgeois Deal broke down barriers of birth and privilege, enabling widespread prosperity.

How does Deirdre Nansen McCloskey explain the Great Enrichment in "Leave Me Alone and I’ll Make You Rich"?

• Not Material Causes: The book rejects explanations based on resources, property rights, thrift, schooling, science, imperialism, or slavery as primary drivers.
• Ideas and Ideology: It credits a change in ethics, rhetoric, and ideology—liberalism—that emerged in northwestern Europe, giving ordinary people permission to innovate and engage in commerce.
• Innovism and Profit Test: The new liberalism supported "innovism," where ideas are continuously tested by profit and loss, enabling persistent betterment.
• Cultural Transformation: The revaluation of commerce and the bourgeoisie was central to unleashing human creativity and economic growth.

What evidence does "Leave Me Alone and I’ll Make You Rich" provide against common pessimisms about progress?

• Poverty Reduction: The book cites data showing global poverty rates falling from 50% in 1966 to 9% in 2017, with rising life expectancy and literacy.
• Declining Violence and Environmental Improvement: War deaths have plummeted, terrorism is exaggerated, and pollutants like sulfur dioxide have decreased in rich countries.
• Economic Growth Persistence: Despite repeated predictions of capitalism’s demise, economic growth has continued, especially in countries adopting liberal reforms.
• Technological Unemployment Fears: The authors argue that fears of mass unemployment from automation misunderstand the benefits of creative destruction, which historically helps the poor.

How does "Leave Me Alone and I’ll Make You Rich" by Deirdre Nansen McCloskey view the role of markets and ethics?

• Markets as Moral Systems: Markets are not just mechanisms but embody norms and virtues such as faith, hope, love, courage, justice, temperance, and prudence.
• Love and Cooperation: Trade can foster love and mutual benefit, not just selfishness, as seen in the concept of "storgê" (affection).
• Limits of Markets: The book agrees that some things should not be bought or sold, but argues that the problem is not market exchange itself but the moral context.
• Ethical Market Economies: Markets can coexist with ethical considerations, and their success depends on the virtues and values of participants.

What does "Leave Me Alone and I’ll Make You Rich" say about the environment and economic growth?

• Environmental Progress: The book presents data showing reductions in pollution and disaster deaths in wealthy countries, attributing improvements to wealth generated by liberal economies.
• Limits to Growth Misunderstood: Fears of finite resources and population limits are countered by human ingenuity and substitution, as with whale oil replaced by petroleum.
• Climate Change Perspective: While acknowledging climate change, the authors argue it is not existential and that continued economic growth will provide resources to address environmental challenges.
• Wealth Enables Solutions: Prosperity from liberalism equips societies to solve environmental problems more effectively.

How does "Leave Me Alone and I’ll Make You Rich" address inequality and redistribution?

• Absolute vs. Relative Income: The book emphasizes that absolute material standards of living matter more ethically than relative inequality or envy.
• Growth Over Redistribution: Economic growth, not redistribution, is the main driver of poverty reduction; excessive taxation of the rich can harm everyone.
• Envy as a Sin: The authors warn against envy, arguing it distracts from helping the truly poor who live on less than $1.90 a day.
• Focus on the Poor: The book advocates prioritizing the well-being of the poorest rather than obsessing over relative gaps.

How does Deirdre Nansen McCloskey differentiate liberalism from other political ideologies in "Leave Me Alone and I’ll Make You Rich"?

• Classical Liberalism Defined: The book uses "liberalism" in its original sense—no involuntary masters, personal and economic liberty, equality of permission, and minimal coercion.
• Rejects Modern US Liberalism: It distinguishes this from the US sense of liberalism as bigger government and from Latin American military tyranny, both of which are criticized.
• Ethical and Political Unity: True liberalism combines personal, political, and economic liberty, opposing all forms of tyranny, racism, voter suppression, and unnecessary taxes.
• Society of Free Adults: The goal is a society of free adults cooperating voluntarily, not one ruled by coercion or privilege.

What does "Leave Me Alone and I’ll Make You Rich" say about the roles of education and science in economic growth?

• Education’s Mixed Impact: While education is important, university subsidies often benefit the upper middle class, and overeducation or miseducation can be counterproductive.
• Science Follows Growth: Many key innovations came from practical tinkering and trial and error, with high science often developing in response to economic advances rather than driving them.
• Technical Elite’s Origin: The rise of skilled mechanics and engineers was crucial, but depended on social and ethical changes that allowed ordinary people to pursue technical careers.
• Limits of STEM Focus: The book critiques the modern emphasis on STEM fields alone, noting that humanities and ethics remain vital for a flourishing society.

How does "Leave Me Alone and I’ll Make You Rich" by Deirdre Nansen McCloskey use Adam Smith’s philosophy to support its arguments?

• Humanomics Over Selfishness: Smith’s "Theory of Moral Sentiments" emphasizes virtues and social accountability, countering the caricature of him as a proponent of "greed is good."
• Invisible Hand Clarified: Smith argued that individuals pursuing their own interest, within ethical bounds, often promote societal good, but not through ruthless competition alone.
• Local Knowledge and Prudence: Smith highlighted the importance of individuals’ local knowledge and prudence in economic decisions, opposing top-down planning.
• Ethics and Dignity: Smith’s liberalism is a theory of adulthood and dignity, where free individuals interact ethically, forming the foundation of the Bourgeois Deal.

What are the best quotes from "Leave Me Alone and I’ll Make You Rich" by Deirdre Nansen McCloskey and what do they mean?

• "Leave me alone and I’ll make you rich." This encapsulates the Bourgeois Deal: when people are free from coercion and allowed to innovate, society as a whole becomes wealthier.
• "It was not capital accumulation, nor institutions, nor imperialism, nor science alone, but a change in ideas that made us rich." This quote highlights the book’s central thesis that cultural and