GS101 Lecture Notes - Lecture 5: Labour Power, Nationstates, Gross Domestic Product
Document Summary
Nation-states why did they form, political and social factors. Civilization: larger groupings of civil society and set of rules in common. Western civilization (do we live in a an american empire) Gross domestic product = c + i + g + (x-m) C is consumer spending (gov. wants you to spend to put money back into economy) (property, cars and market investments) Low interest rates stimulates the economy/ high vice versa. Attract investment by having low corporate interest. G government spending/incentives (infrastructure and investments like healthcare/education/technology)
