The World is Getting Better

The facts are as follows. The rate of violent crime is lower now than it was at any time between 1966 and 2009. Immigrants have a lower rate of violent crime than American citizens. Terrorists kill just three-tenths of one percent of all American homicide victims. The rate of death from terrorism in the United States was higher in the early 1970s than it is today. And since 2002, more Americans have been killed by right-wing American terrorists than by Islamic terrorists. It’s true that the...

 Knowledge Grows Faster Than Compound Interest

Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks its own accumulation: knowledge thus accelerates its own advance. Each generation, therefore, to deserve comparison with its predecessor, is bound to add much more largely to the commo...

 Knowledge Produces More Rapid Rate of Progress

Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks its own accumulation: knowledge thus accelerates its own advance. Each generation, therefore, to deserve comparison with its predecessor, is bound to add much more largely to the commo...