SOSC 1520 Study Guide - Final Guide: Enclosure, Totalitarianism, Pujo Committee
6 Dec 2016
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Document Summary
Command- one of the three solutions to the economic problem. A second manner of solving the problem of economic continuity also displays an ancient lineage. This is the method of imposed authority of economic command. A powerful mechanism for bringing about economic change. Diverts economic resources toward the goals chosen by a higher authority. (use the resources to fulfill the goals set by the commander in chief). Command solves the economic problem by imposing allocations of effort or reward by a governing authority. Command can be a means for achieving rapid and far-reaching economic change. It can take an extreme totalitarian or a mild democratic form. James watt- together with matthew boulton, formed the first company for the manufacture of steam engines. Watt was the son of an architect, shipbuilder, and maker of nautical instruments. At 13 he was already making models of machines, and by young manhood he was an accomplished artisan.
