MMW 14 Chapter Notes - Chapter Reading: Market System, Profit Motive, Middle Ages
10 Jan 2019
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In the past, people were forced to cooperate for survival, but now with modern technology, the fact that society can still function is a miracle. Most people don"t do the basic jobs that require direct contact with the earth like mining and farming. Should there be a shortage of people in any one field, the whole of society would break down. The three ways of guarding against calamity. The market system brought about the need for economists. Someone had to figure out how to predict which way society would go and how everything was still getting done. When trade first started to pick up, there was a lot of tension between pure trade and social, religious, and economic life. There wasn"t free trade because all other aspects of life held sway on what you could do. Trade volume was much less as most people saw it as an unhonorable profession (gaining money for its own sake = greed)
