ECO 3132 Lecture Notes - Lecture 2: Autarky, Chartalism
12 Dec 2017
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In the 6th century: greece takes the path of commercial development, agrarian and financial reforms and state support for industry, leading to a primitive mercantilism. Sophistic economics: 5th century bc, the household is a consuming and production unit. They mean the servants the slave and family: oikos= house nomos= rule. Hence our term economics: we give certain students certain tools, where no one questions what they do with them. The tools were given to achieve a goal. Socratic vision: socrates moral philosophy: the quest for the good life or the happy life and the ultimate welfare for humans. That is for the purpose of self development rather than the pursuit of material wealth. Plato is influenced by socrates and founds the academy for the training of future politicians and public servants and his famous republic forms the basis of his teaching. It is an imaginate society, one finds the description of an ideal society.
