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Jack Carr (32)
Lecture

February 1 lecture notes

3 Pages
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Department
Economics
Course Code
ECO100Y1
Professor
Jack Carr

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Description
Feb 1 Diagram of monopoly social gains Movement from Q1 to Q2, can show the increase of profits by sum of two areas Christopher Freeman, 3 ed, R7.3: innovation and tech change brought forward increases ecogrowth, we can do more things, but ecotheory and model analysis has neglected the importance of innovation and invention, partly because assumes that innovation was exogenous, other things dont change assumption was held, so innovation didnt became a source, but other things did change First Kondratieff cycle 1): 1780-1840 industrial revolution and infrastructure was canals 2) 1840-90, age of steam, railways 3) 1890-1940, automobile and steel, electricity and gas 4) 1940-90, mass production, jet aircraft, nuclear power, synthe
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