Yes, Murray is smart and observant, but, his omniscience ends in history. History gets fuzzy, the further you go back.
If Murray ever took the time to read marx's first big works. He'd understand why the west became the powerhouse it is.
Guilds... They were the backbone that pushed the industrial revolution into overdrive.
Guilds were like universities, except it was apprentice based hierarchical system that lasted until one retired.
Various Guilds did anything and everything. Bolts, screws shoes, dresses, furniture, mining machines, everything.
Then, the elite's decided to ban the guild system, and instead favor centralized forms of manufacturing... That was the birth of the French revolution and marx himself.
Fast forward today, where most modes of production is centralized in the west... there is no competition, and stagnation sets in, and magically diversity becomes attractive... not realizing we killed western diversity when we killed the guild system... for GREED.
It's no wonder that East Asians beating everyone these days. Murray is somewhat right about IQ giving an edge, but, his solution is amateur, and he doesn't realize how the past unfolded from a guilded era of diverse production into a centralized power era.
Murray's solution is more financial suffering, and libertarianism(atomized weak workers cult)...
Dollo's law states we can never return to what the west was... The only way forward is to create something new, or this is as far as "we" western people go... this is probably as far as we go as a species desu our vices overtook us long ago... not there is only cthulu waiting our state of consciousness.