What if I said you could read real-world history on the underside of your kids’ Hot Wheels? In my Philippine childhood in the 1970s, my brother Hector and I played with die-cast toy cars. I remember the first time I looked at the underside of these cars, soon after I had learned to read, and realized they had been made in different countries in different years. Some were made in the United Kingdom and the United States; the newer ones were made in Japan. Decades later, as my work as an economist brought my family to the United States, my two children got toy cars nearly identical to mine — first made in China and, later, Vietnam. We now have a small collection of these cars, and occasionally I use them as a teaching tool. I ask students in my economics classes to inspect the cars’ undersides, and together we trace the gradual movement of toy car manufacturing: from England and the United States in the 1960s to Japan in the mid-1970s, from South Korea in the mid-1980s to China in the late 1990s and Vietnam after. I tell them the process of making die-cast toy cars is nearly unchanged since the 1960s and has been steadily passed from one country to another, marking the beginning of the transformation of entire economies. We observe how toy-export data mirrors worldwide trends in industrial sector employment over the past 60 years: the gradual rise of toy manufacturing and toy exports in developing economies, the expansion of light manufacturing in those countries, followed by the growth of more complex production and the entire industrial sector, soon dwarfing the traditional agriculture sector and lifting people out of low-pay, low-productivity work. And then we see, almost as rapidly, the decline of the industrial sector in a now-richer economy, as production at lower prices becomes available from the next industrializing country. In the graphical representation of this phenomenon, individual countries’ data looks like hills all over the world and over time; it is a beautiful, astonishing understatement of how countless lives have been changed in the process. This much world history reflected in a handful of toy cars.