Yet the "greatest reduction in both poverty and mortality" is a relatively recent phenomena happening during the rise of publicly accountable civic institutions. [1]

To then attribute this with something that did not lead to this process in the first 69,800 or so years is, in my opinion, pretty poor logic.

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[1] In fact, in Africa the greatest rise came after the decolonization post-ww2 and the establishment of states and representative governments. To say the predecessor extractive industries under colonialism weren't "capitalist" is also, quite incorrect.