ECON 2K03 Lecture Notes - Lecture 1: Wheat Pools In Canada, First Nations, Strategy (Game Theory)
12 Sep 2017
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Document Summary
The study of long-term changes and transformations in economies and societies over decades or even centuries. Some key questions economics historians are trying to explain: Economic agents as managers maximizing subject constraints. Entrepreneurs looking for ways to change constraints. How an economy functions in the current state is a product of how it got to that state in the first place. History matters and not all economies behave the same. Most economic theory took a different path. The real world is messy and not subject to mathematical analysis. Universal system rather than a particular system. Theory became ahistorical and built around abstract individuals. Political economy splits into economics and sociology. Anthropologists offer evidence of society where the problem was unlimited resources and scarcity of wants. Reject idea that humans are driven by greed and insatiable needs. John offers to give bob and mary, two strangers, ,000.
