Washington • It was an epoch-defining decision to place in Westminster Abbey, among statues of monarchs, priests and poets, a large one of James Watt, inventor of the separate-condenser steam engine. The statue’s inscription says Watt ranks among the world’s benefactors because he “increased the power of man.” The economist and historian Deirdre McCloskey believes this honor, conferred in 1834, signified society’s endorsement of the dignity of practical people who apply science for human betterment.
The Great Enrichment is McCloskey’s term for what, in a sense, started with steam and has been, she believes, the most important human development since the invention of agriculture 10,000 years ago.