ECON 219 Study Guide - Midterm Guide: Classical Economics, Second Industrial Revolution, Aggregate Demand
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ECON 219 Full Course Notes
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Neolithic revolution - transition from hunting and gathering to farming. Leads to change in the optimal skills set. While hunting relies on exploits, farming relies on routine work. In one sense, hunting is more egalitarian: the propensity towards routine work is more evenly distributed that the ability to hunt big game. Farming is more in egalitarian because it allows the formation of surplus. Emergence of cities and city states (southern mesopotamia and egypt) Early law codes - incipient financial law (money, interest, fines, tax) Americas and of alternative trading routes by europeans. Europe: america, india via africa, indian ocean and south east. Oddly most of them were already known in china. Glorious revolution in england, american revolution, french revolution. Faming three field crop rotation system, enclosures, seed drill, plow, thrashing machine. Loss of traditional grazing rights, anti poaching efforts. This rendered subsistence agriculture impossible for many people. Many poor were forced off the land and converged towards the cities.
