GEO 108 Lecture Notes - Lecture 4: Northeastern United States, Ruling Class, Feudalism

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Ruling class: power in land ownership, tenant farmers. Rural society: animate energy ******, agrarian economy, risk of infectious disease, tied to seasonal cycles, meaning that if you were to have a crop failure, your economy would go down tremendously and people in your community would suffer. Markets: competition keeps the prices low and keeps people buying the product people are selling, primary way resources are allocated. Class relations: you earned your status by how much money you made, e. g. Long distance trade: long distance trade tended to be for luxury goods. Led to increased productivity due to the innovations that were made. If there is too much labor, wages go up. Child labour as children were subjected to work at a very young age. With each technological advance, labor force goes down. The emergence of labor unions started giving rights to more workers, hence explains why there are statutory holidays (labor day)

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