2/23/16 notes CDAE 002
2/23/16 notes CDAE 002 CDAE 002
Popular in World Food, Population and Development
Popular in Human Development
This 0 page Class Notes was uploaded by HD on Sunday February 28, 2016. The Class Notes belongs to CDAE 002 at University of Vermont taught by Dr. Shoshanah Inwood in Fall 2016. Since its upload, it has received 40 views. For similar materials see World Food, Population and Development in Human Development at University of Vermont.
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Date Created: 02/28/16
22316 0 to make you need at the close of a transaction 0 Easiest way to make is through interest rates 0 Interest the fee you pay the lender in exchange for borrowing the lenders Religious texts condemn loans 15 16th century Europe begin to tax these laws Lending at interest requires 0 Ensuring lenders they ll get their back 0 Institutions to facilitate lending borrowing credit investment 0 Banks stocks and bond markets nancial law 0 Enforcement What happens when you don t pay your bills iClicker question Do you worry about college debt Number of borrowers has grown Does your family have a plan chart 0 Higher income means more likely to have a plan Late payment chart 0 Debt is one of the higher ones Interest rates of different plans chart Dutch Republic Financial Inventions bring new economy Making with 0 Economic growth is a necessity Without growth borrowers including nation states can t default on their loans Banks collapse currencies uctuate in value Speculative bubbles burst and can bring down economy Over the last 200 years an average of 72 banking crises lasting an average of 72 years have happened Era of lndustrialist 70019005 0 British empire on the rise 0 25 of world population is occupied by them 0 England becomes model for economic development 0 Political military legislative support for domestic and overseas growth and trade 0 Merchant class rises Power struggle between ruling elite and merchants 0 Changes in consumption Shopping Pottery industry 0 Population growth O Diet Inoculation Increased fertility Expansion of agriculture enclosure laws Create landless laborers For capitalism to work you need to cut link between producer and means of production 0 O Peasants lost control of land artisans lose control of tools Need permission to use land tools receive wages in return Control means of production control goods produced Triangle Trade Industrial Revolution 0 O O 0 Ship building Manufacturing led to increased urbanization Energy shortages and material shortages Trees suitable for building the ships masts Materials coming from North America Charcoal production Expansion and rise of factories Modeled after prisons Rapid development of new technology Horsepower how long it took horses to plow elds New sources of power 0 O O 00 Mass communication Greater manipulation of soil more food Education investment Agriculture Business Management and AgriScience SenatorJustin Morrill land grant system use land for higher education Hatch Act US Extension system translate research to people At the end of the Ind Rev rapid emergence of new varieties strains and breeds Pubic Breeding Programs at the land grants Industrial Revolution led to acceleration of history Accumlation of waste Death rate fell Improved hygiene and sanitation Greater food availability Improved medicines Accumulation of vast fortunes 0 Global Depression of 1873 Investors took overseas for expansion and economic g rowth O Africa Asia Paci c Colonial imperialism is an opportunity for investors to expand markets Supply of raw materials Regions became known for export Wheat livestock banana republics Organization of capital has changed overtime O 0 Family groups and individual merchants l limited partnerships l transnational corporationsmultilateral institutionsinvestment rms Are private companies and corporations running more ef cient than the government Should corporations have the same rights as individuals Corporations are created by the state 0 O O O 0 Pool private nancial resources for the public Increaseprotect own pro ts from market uncertainties Leads to greater investment One or more individuals can apply economic and political power to accumulate wealth VIDEO The Corporation Dominant roles in lives Applied rights of people to property and companies They only care about the amount their making per quarter Externality Effect of transaction between two people on a third party quotLet someone else deal with thatquot Corporations are designed to have built in externalities Ex a shark is a killer Economic logic of corporations 0000 O Sustained economic growth measured by the GNP Free markets are unrestrained by government Economic globalization Privatization More functions from government to private sector Role of government to advance commerce Enforce law Protect property and contracts Corporations assume 0 O O O Humans are motivated by interest The action that yields the greatest nancial return is the most bene cial Competitive behavior is more rational than cooperative behavior Human progress is best measured by increased consumption Greater economic output Adam Smith 0 1776 quotWealth of Nationsquot book 0 quotInvisible Hand of Marketquot 0 1st paragraph shows bene ts of division of labor Later writes the system will destroy itself 0 Greed is not self interest If there s no self restrain it could break the system 0 Markets under conditions of perfect liberty will lead to perfect equality Goal is equality of condition not just opportunity Power of Corporations 0 1868 US Supreme Court rules Corporations are natural person under US constitution with rights protected Corporations are success global output of 70 trillion in 2011 Many arguments for privatization The Era of MultiNational organizations 0 Lincoln quote 1st president of the republican party Feb 12th birthday Corporate libertarianism 0 Funds colleges and think tanks Help to de ne ideology and policy 0 Citizens United No limits on corporate and labor union campaign spending Should there be limits 0 Koch Brothers Represent industries Use for lobbying o More donated by conservatives but both do it