AGRB-2050 Lecture Notes - Lecture 1: Integrated Circuit, Inclosure Acts, Second Industrial Revolution
14 Apr 2016
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Document Summary
The scientiic method: 17th century age of reason triggered rational approach to laws of nature. Led to boom in technologies across a broad front. Property rights: strengthening of formal democratic institutions and rule of law guaranteeing and protecting private ownership. Capital markets: development of banking systems and capital pools to inverst in economic ventures involving economies of scale. Innovations that led to land reform in england. Charles townshend"s four ield crop rotation system: used complementary crops to naturally rejuvenate the soil. Farmers no longer had to leave some of their ields fallow each year. Tull"s seed planting drill: the irst of many machines in agriculture, it planted seeds at uniform intervals and depths much better than the old system of broadcasting . Many small farmers lost land and became laborers. Common lands were inclosed and unavailable to peasants. Or fence in law vs fence out law.
