ECON 1115 Lecture Notes - Lecture 13: Land Values, Creative Destruction, Gopro
8 Oct 2015
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Econ 1115 lecture 13 general economics discussion. The professor had a small class discussion and the class was over early. Discussion topic: why the economy fluctuates and what each individual in class thinks about it. The goods can be made more cheaply away from the centres of population but the business of bringing them for sale then stops this solution from being effective. So the land owners and speculators have a strangle-hold on the rate of prosperity of the growing community: the worsening conditions due to greater speculation in land values cause unemployment and poverty. In spite of these effects, the growth of the country will proceed albeit in an uneven way due to this effect. It was a verbal quiz and asks your questions/doubts day. All the topics till date were discussed in the class. We believe that one of the determinants of growth is creative destructions.
