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ECON1401 notes

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All econ1401 classes summarised. Short summary of econ1410 for unsw and useful notes and commentary.

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35 Pages Partial Study Notes > 2 Years old
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Topics this document covers:
Economy Economics Academia Marxian economics Economic ideologies Economic liberalism Capitalism Classical economics Free market Market Adam Smith Capital accumulation
This is a Partial Set of Study Notes

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Topics this document covers:
Economy Economics Academia Marxian economics Economic ideologies Economic liberalism Capitalism Classical economics Free market Market Adam Smith Capital accumulation
Sample Text:
Self-sufficient and limited specialisation 2. Highly egalitarian (free) 3. Hedonistic (self-indulgent) and uninhibited 4. Physical proximity to everyone that matters to you 5. No growth Political structures through the ages • Hunter gatherers existed before 10,000 years ago • Each unit produced only what it needed, consumed all that it made • They became agricultural societies over the years until the end of the 19th century • Regions defined by the taxing elites (duke, kings etc.) • Developed societies had different hierarchies • Gradual increase in trade and specialisation – slow rise in social importance of merchants, scholars etc. • 1800s onward – rise of the nation state Development of Economics • Usury – loans with high interests, and profit, were considered sins by the Church – thus most peoples did not practice it. “th...
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