ECON 3R03 Lecture : 16-01-13
10 Feb 2013
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Course: econ 3r03 - the history of economic growth. An economy requires the assistance of science in order to sustain long-term economic growth. There is some debate that the rst industrial revolution didn"t require science but rather that it was obvious engineering advancements but this was certainly not true for the second industrial revolution where science & technology were deeply intertwined. Advancement of science is not an inevitability; we see that there are numerous economies in which science didn"t succeed. Western societies seem to have found the right set of institutions to allow science to ourish. The greeks were far advanced in science but it took the europeans until the. Middle ages just to get up to this level of scienti c advancement. The people we know as greeks today were the amalgamation of 3 tribes. As a result of the continued growth of the greek state the population eventually outgrew the land"s ability to support them.
