POLISCI 111 Lecture Notes - Lecture 7: Enclosure, Barter, Invisible Hand
9 Aug 2016
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Equilibrium > logic of supply and demand will stabilize market activity over time! Positivism = assuming human activities (in this case, the economy) can be studied the ! same way as natural activities (ie. biology, physics, etc. Opposed: fascism > saw it as a possible outcome of the great depression! People start thinking of land as being either productive or going to waste! Productive territories being marked off > low stone walls, etc. Enclosures have been called a revolution of the rich against the poor! Lead to depopulation > peasants were kicked off land, replaced with sheep! Smith natural propensity to truck and barter! Marx agricultural revolution, rise in price of wool made it more pro table for lords to kick tenants off their property to make room for sheep! Time is money, you should spend your time by making money > not making money to ! enjoy it, instead making money to have and save!
