Economics 2150A/B Study Guide - Quiz Guide: Inclosure Acts, Overgrazing, Selective Breeding

• School: Western University
• Department: Economics
• Course: Economics 2150A/B
• Professor: Colin Denniston

Document Summary

Overton 1996 a series of technological and institutional advances in agriculture that dramatically increased productivity and output. Did it reduce employment in agri = manufacturing jobs. Layout of land allowed for draining and proper irrigation. Consolidation of land meant arable could be used for commercial agriculture and not subsistence (more economical use) Peasants lost right to graze 1 cow = half a year"s wages. Private property rights and eos allowed for new technology to develop. Contemporaries rose up against enclosure, property rights were exploited. More farm output less farm labour - urbanisation - economic growth. Based on case studies, no tragedy of commons, privatisation was political. Tragedy of the commons: (freedom in a commons brings ruin to all [hardin 1968]) Depletion as act in self-interest, ignore social costs. Enclosure = more farm output, less farm labour = cities = economic growth. Can be judged by timings of gains in agriculture.