How Money Became the Measure of Everything - Deepstash
A shift in measuring well-being

People in societies such as ancient Greece, imperial China, Medieval Europe, and colonial America did not measure people's well-being in terms of monetary earnings or economic output.

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How Money Became the Measure of Everything

theatlantic.com

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The turn toward financial statistics means that instead of considering how economic developments could meet our needs, it instead is to determine whether individuals are meeting the demand ...

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What led to the pricing of progress in the mid-19th century was capitalism.

Capitalism is not just the existence of markets. It is also capitalised investment, where elements of society ...

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Capitalization was key to the rise of economic indicators. Upper-class Americans began to put their wealth into new financial assets. They began to see their society as a capitaliz...

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By the progressive era (1890s to the 1920s), a child was valued as a potential wealth-producer. "If he lived out the normal term of years, he can produce $2900 more wealth than it costs to rear...

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  • The working-class Americans at the beginning of the 20th century were not as eager about the rise of economic indicators because they believed the human experience to be "priceless."

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The conditions for economic growth were regularly put before the necessary conditions for individuals' well-being.

In 1911, an efficiency expert bluntly stated: "In the past the man ...

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