HIST 141A Lecture 13: week 6 lecture 2 (13)
Document Summary
Many revolutions his the east during the 1830-1890. 1839-1859- generally considered to have some of the fast economic growth. Evolving much more systematic process, coherency between production and distribution. Industrialization of agriculture , expect to see the rise of middle class, population growth. Institutions that help to explain the increased acceleration of agricultural growth. Agriculture a declining sector of the us economy, relative to manufacturing, but agricultural productivity continues to increase, especially in the south - the decline is only relative to the manufactoring. Specialization and expansion- the wider the expand of the market the grater the degree of specialization (increases productivity) Productivity is a key element to economies ability to work efficiently. Adam smith 1776 - inefficiency of slave labor. Eric williams 1944- ir in gb, and british west indies. Evsey domar 1970 - forced redistribution of income: free land and peasants, landowners who don"t work (free labor avoids producing certain crops, working in certain locations)
