A just published book tells the story of how the economies of China and Europe evolved to achieve prosperity

 

When told well, history serves as a tool for better understanding the present and preparing more effectively for the future. This is not a new idea, but it periodically takes on greater significance and weight, and  provides increasingly effective tools for understanding. This also applies to well-written books such as ‘Due strade verso la prosperità’ (Two paths to prosperity), which is the result of the collaborative efforts of three economists and economic historians: Avner Greif, a professor at Stanford University and a leading expert in economic institutions and organisations;  Joel Mokyr, a professor at Northwestern University and winner of the 2025 Nobel Prize in Economics; and Guido Tabellini, a professor at Bocconi University and one of the most influential economists in the field of political economy.

The book begins with an observation: a thousand years ago, Europe was poor, fragmented and technologically backward. By contrast, China was a rich, populous civilisation with advanced technology. Yet over the course of the second millennium, the fortunes of these two regions were completely reversed. In today’s global context, where China has once again become a key player and its relationship with the West is characterised by competition, interdependence, and uncertainty regarding the future balance of power, it is essential to understand the deep-rooted causes of the Great Divergence.

This book tackles a major enigma of economic history, tracing its long-term origins right up to the present day. However, ‘Due strade verso la prosperità’ is not merely a book on economic history; it is also a reflection on how culture, forms of cooperation, and social organisations shape development, institutions, and freedom. This wide-ranging work on long-term economic, social and institutional development will appeal to scholars, policymakers and readers alike who are interested in understanding the deep-rooted causes of the world in which we live. This is a book that – as mentioned at the beginning – is a valuable tool for learning history and gaining a better understanding of where we are and where we are heading.

Due strade verso la prosperità

Avner Greif, Joel Mokyr, Guido Tabellini

Egea-Bocconi University Press, 2026