ECON 460 Lecture Notes - Lecture 3: Edmund Phelps, Averroes, Black Death
17 Jan 2018
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Comments below are statement summaries from a list of questions prof watson has uploaded onto the mycourses page. He highlighted these questions in class as possible exam topics: Averroes= value of money kept constant = (arguments currently on inflation rates= whether to higher it or not) Blackdeath= pop declines by a third= (argument that black death was good for economic growth)= lack of labour resulted in wage rise, resulted in increased savings, resulted in increased demand (cid:862)(cid:374)atural law(cid:863) Inflation q (by end of 16th century, wheat) Irish merchant who spent most of his life in france. Defines wealth without mentioning gold in his essays= very unique thinking at the time.
