The Road To Riches

A detailed Summary of The Road To Riches

The Road To Riches & The Great Leap Backwards

The two articles, The Road To Riches and The Great Leap Backward, have completely different viewpoints on Western Economics. The Great Leap Backward was criticizing the developments of Western Economics, and stating the fact that the governments of the western world have not changed their ideas on Economics, have not learnt from their previous mistakes by making those mistakes again and that the western economy will disintegrate. The Road To Riches was stating the fact that knowledge and the right type of science placed with technology has helped the western economy grow rapidly and that the western governments and social order could accommodate the technological progress.

In the article, Road To Riches, it said that in the past, economic advances have been very slow and when economic growth did occur it was very slow for that generation to notice. Growth started to take place when science was introduced to the current technology back then. European science and technology was flourishing in the 17th century. Mathematics and mechanics came together since knowledge had expanded tremendously. The new innovated technology was introduced into industries, e.

There is a similarity on one particular viewpoint in both the articles, The Road To Riches and The Great Leap Backwards. The viewpoint is, as America has a very wide inequality gap, 18% live under the poverty line and if the current trends continue then the United States will be a third world country (fall back) by the year 2020. The people and the governing bodies are not changing their way of thinking, are continuing to stay oblivious to the facts and not learning from the mistakes made by other people in the past and making the same mistakes again, which are the reasons for their future downturn. In the Road to Riches, it says that China and the Islamic world being technologically advanced in every aspect finally fell backwards eventually because the government and people were not ready for change, social orders did not accommodate the technological progress and hence they fell back and their economy deteriorated.

In my opinion, I find The Great Leap Backwards more convincing. This is because even after accumulating knowledge, we are still ignorant, as we have not learnt from the mistakes made in the past. Even after we know what exactly happened in the past or pretend we do not know, we continue to make those exact same mistakes. Even after knowing about the statistics of Third world countries, such as child labour, high unemployment, debt, poverty we still continue to turn our faces away from it pretending it does not exist and oblivious to the fact that the developed nations of the western world are falling back slowly. Management is the being taught to people and hence these managers do not know how to solve these major problems as thinking is regarded as unprofessional. The problems also exist because we believe that the market will take care of itself and create the solutions to those problems, which will undoubtedly never happen. The only way to deal with these problems is with real answers using our knowledge of the past. Then there is a glimpse of hope for our civilization.

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Some common words found in the essay are:
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Approximate Word count = 1370
Approximate Pages = 5 (250 words per page double spaced)

Category: English