History 1807 Lecture Notes - Lecture 10: Roman Economy
6 Nov 2015
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Document Summary
Capitalism is an idea that everybody got on board with. Market economy is the struggle between the people who control static objects (land) and the people who make their wealth dynamically (stocks), merchants and monarchic (back in the day) The rise of capitalism did not occur without the emergence of the state. Controlled market economy: economy that is free but only to an extent because of the power of the state (influences on the market), such as government taxations or government subsidies. Government cares about public goods because they generally improve the lives of citizens and stimulate the economy. Our market doesn"t function because its run freely, it functions with the strong deregulation of the state within it"s structure. Market economy: people obtaining positions of power with what they do in the market. The middle ages: characterized by economic stasis and a decentralized political structure; the lack of order is a significant break from the order of the roman period.
