As Time Goes By: From the Industrial Revolutions to the by Chris Freeman, Francisco Louçã

By Chris Freeman, Francisco Louçã

The web and cellular phones have made every person extra conscious than ever of the pc revolution and its results at the financial system and society. 'As Time is going by way of' places this revolution within the standpoint of prior waves of technical switch: steam-powered mechanization, electrification, and motorization. It argues for a concept of reasoned fiscal background which assigns a vital position to those successive technological revolutions.

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Extra resources for As Time Goes By: From the Industrial Revolutions to the Information Revolution

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E C O N O M I C S W I T H A H U M A N FA C E ? 33 exports but consumption and supplies for the city. Neither was there any market for land, labor, or capital. On the subject of land, Finley pointed out that “the normal purchase of land in antiquity . . was windfall purchase” (1985, p. 119; also 1976, p. 1). Which did not mean that “windfalls were rare” but that there was no incentive for systematic speculation with a view to maximizing one’s gain. The Greco-Roman social organization was such that hired labor was casual and marginal, which is clearly different from what happens with capitalism.

244) the advent of price-making markets seems to be the direct consequence of an ongoing or accentuated situation of scarcity (“acts of exchange . . involve the participants in choices induced by an insufficiency of means”). The scarcity of resources is thus an element determined institutionally, that is to say, dependent on the regime of exploitation to which they are subjected and on the juridical constraints that characterize it. The substantivist critique of economics, however, does not imply this particular historical reconstruction or this concept of scarcity.

The scarcity of resources is thus an element determined institutionally, that is to say, dependent on the regime of exploitation to which they are subjected and on the juridical constraints that characterize it. The substantivist critique of economics, however, does not imply this particular historical reconstruction or this concept of scarcity. 20 CHAPTER 2 for study that on the whole held little interest, and he preferred to concentrate on the prime mover. Polanyi, on the other hand, made it the center of his interest.

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