ECO 2121 Lecture 2: Lecture 2
20 Dec 2017
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Document Summary
Neolithic revolution transition from hunting and gathering to farming: formation of surplus, tribal units, specialization and exchange, use of commodity money, no markets. Bronze and iron ages: emergence of cities and city and city states, early law codes incipient financial law (money, interest, fines, tax) Classical antiquity: emergence of long distance trade, early civilizations and empires china, india, persia, first writings on economics hesiod, xenophon, aristotle, trade route the silk road, first modern darknet market. Institutional: the investiture contest (1076-1122), magna carta (1215: the black death (1347, the discovery of the americas and of alternative trading routes. First industrial revolution: political revolutions revolution in england (overthrow of james 2nd) american. Social changes: factory system later factories due to the importance of machinery, urbanization poor state of public health in the cities until 1850s, organized labor (trade union strikes) socialist co-operatives, chartist movement .
