SOSC 1000 Lecture Notes - Lecture 7: Marilyn Waring, Keynesian Economics, Mercantilism

• School: York University
• Department: Social Science
• Course: SOSC 1000
• Professor: Terry Conlin

Document Summary

Economists are unhappy when they have to examine variables that are not easily measured by something like a price ernest schusky. Two edged sword= capitalism produces growth and wealth. Adam smith, mercantilism & the wealth of nations: The society of perfect (economic) liberty & the disembedded, self-correcting free. 1776- wealth of nations won a radical place of theory, it was democratic. The theory was based on the purpose of the trade and cooperative advantage. A) income: labour, investment, competition: high degree of competition in the market place, monopoly, Orthodoxy said that the supply side mattered more. Gdp is how we measure aggregated demand. The new deal- american government decided to start spending money on infrastructure because unemployment according to the. Gdp= c + i + g + (x-m) = ad. Marilyn waring vs. economic orthodoxy: un system of national accounts (who"s counting: sex, lies and global economics)