This is the Cato Daily Podcast for Tuesday, November 10th, 2009.

I'm Caleb Brown. Economic development is tough and understanding how economic development occurs is no less problematic.

Arnold Kling is co-author of a new book,

From Poverty to Prosperity.

Intangible assets, hidden liabilities,

and the lasting triumph over scarcity.

In it, Kling and co-author Nick Schultz

interview economists about big subjects,

not the least of which is how little we really

understand about how our explosion of wealth

occurred in these last 200 years.

Innovation and entrepreneurship are amazingly good things.

And the other idea is that predatory government and corruption are amazingly bad things.

And to talk about the amazingly good aspect of it, my daughter, my oldest daughter, 26 years old, just moved to Arizona.

She'd never been off the East Coast before.

And just moved to Arizona.

A new city.

She did it without a map, without a newspaper, without a landline phone.

She finds an apartment, finds a used car without any of those things. Just using things like our laptop at McDonald's to

using Wi-Fi, using a cell phone, using a GPS, you know lots of internet to

connections and so on and if you think about it's amazing

she couldn't it back when she was born this stuff didn't exist you didn't have

...