History 2401E Lecture Notes - Lecture 8: Open Field System, Secondary Sector Of The Economy, Western Europe
19 Feb 2017
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Lecture 8 the economic take off of the 11th to 13th centuries: key elements in economic development. Stagnating income per capita stays constant: or shrink, relati(cid:448)e to a so(cid:272)iet(cid:455)"s total (cid:396)elati(cid:448)e (cid:449)ealth wealthy societies will grow slowly or stagnate. Need to look at actual income as well. Five variables called variables because can change: population how many people, growth rates. Birth rates vs. mortality rates, age distribution: natural resources environmental features (climate, geography) Technology includes things and techniques, knowledge expressed in techniques and objects. Institutions (cid:396)ules (cid:272)o(cid:374)st(cid:396)u(cid:272)ted (cid:271)(cid:455) people, dete(cid:396)(cid:373)i(cid:374)e i(cid:374)di(cid:448)idual"s (cid:272)hoi(cid:272)es a(cid:374)d a(cid:272)tio(cid:374). Ca(cid:374) (cid:271)e formal (laws) or informal (value system, code to fit in): money supply, western europe experienced growth in all of these in all three sectors of the economy, resulted in economic take off. Linkages growth in one sector can promote growth in another: primary sector: natural resources and exploitation. Most of population in developing countries, medieval europe.
