Growth is a cultural production, a society wide embrace of “bourgeois virtues.”

From Why Economics MUST Explain the Modern World by Gregory Clark

But having over many years considered the general problem of economic growth, and the specific puzzle of the timing and location of the Industrial Revolution, McCloskey has come to a stunning epiphany. This is that incentives explain very little of the huge gaps in wealth across the world. Growth is a cultural production, a society wide embrace of “bourgeois virtues.” Specifically, she claims, growth came because the activities of marketing, profiting, and innovating have become in our society uniquely respected, admired and praised.