11 Industrialisation And Democracy

11 Industrialisation And Democracy - DEMOCRACY...

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DEMOCRACY INDUSTRIALIZATION DEMOCRACY INDUSTRIALIZATION
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WELFARE PARADOX To get a larger material product in the long run, a society must accept less of a material product in the short term. CONSUMPTION INVESTMENT
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Welfare Paradox $15 $85 $17 $110 investment consumption GNP= $100 GNP= $127 TIME 1 TIME 2
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Industrialization= Severe Welfare Paradox Size of Investment Lag between investment and Growth Why? 1. Social Overhead Investments -- Transportation and Communications -- Education -- Electricification -- Research and Development 1. Capital (Producer) Goods Investment -- manufacture of machinery
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Strategies of Capital Accumulation Total societal income = $1,000 SCENARIO I: INCOME EQUALITY SCENARIO II: INCOME INEQUALITY Personal Income (10 people) = $100 per capita Costs of consumption = $90.00 Personal saving rate = 10% Amount available for investment = $100 Societal Savings rate= 10% Personal Income 8 people = $60 ($480); consumption = $480 (savings rate = 0%) 2 people = $260 ($520); consumption = $180 each ($360) savings = $80 each (30% individual savings rate) Amount available for investment = $160 Societal Savings rate = 16%
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Industrialization and Democracy In Britain Political Participation and Capital Accumulation: How did Britain solve the welfare paradox?
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This note was uploaded on 04/03/2008 for the course POL SCI 2 taught by Professor Price during the Fall '07 term at University of California, Berkeley.

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11 Industrialisation And Democracy - DEMOCRACY...

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