1.4 Gregory Clark

1.4 Gregory Clark - Gregory Clarks hypothesis hinges upon...

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Gregory Clark’s hypothesis hinges upon the idea of “the survival of the richest”: What does he mean by this? How is this theory challenging our previous knowledge on economic growth in historical perspective? - It’s about the survival of the fittest – patient and hardworking o Ppl co-evolved along with the economy that evolved with agriculture o Natural selection favored some over others - Why Britain? o Accidentally, not really ahead of others o Boring society process of survival of the richest had the most of benefits o Nation of shop-keepers economic prosperity with the Industrial Revolution Downward nature of social mobility It was the farmers who had 3-5 children who survived, not the aristocracy Generation after generation, the rich had more surviving children than the poor, his research showed. That meant there must have been constant downward social mobility as the poor failed to reproduce themselves and the progeny of the rich took over their occupations. “The modern population of the English is largely descended from the economic upper classes of the Middle Ages,” he concluded. o Economic success reproductive success passed along their values Property rights Peace; aversion to violence Emphasis on education of children o Intermediate level of violence Decline in interpersonal violence as poorer members of society failed to replace themselves; descendents of wealthier people began to pervade all levels of society and behaviors o More literate Reproductive advantage of the wealthy may have contributed to increasing literacy of the population
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o Trend towards longer working hours and preference toward saving   spread  production-oriented values  Low interest rates right before the industrial revolution as well  Another significant change in behavior, Dr. Clark argues, was an increase in  people’s preference for saving over instant consumption, which he sees 
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1.4 Gregory Clark - Gregory Clarks hypothesis hinges upon...

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