I thought it looked familiar and I've seen this video, but it has been a couple of years. I'm quite familiar with this topic.
His development theory is correct (for the most part) and just a branch of modernization theory which has been studied and applied since the early 1960s and has its roots in the ideas of Max Weber.
However there are a few problems:
- It really pisses off socialists and people who strive for social justice
- How far can it play out in each case?
- How do cultural conditions impact this? Cultures are different
- What about indigenous communities? Victims of colonialism, slavery?
- Is it actually environmentally sustainable?
- What will happen when the developed world is under threat or if resources become scarce? It relies on market solutions, but there are armies out there, right now america is tired of paying to protect.
- A lot of the growth he mentions relies on urbanization, industrialization, petrochemicals, capitalism, westernization, etc. Some people don't like these things.
Don't forget those who need to act as if we have huge problems so they can sell us expensive solutions.