Econ110 - Crib Sheet

Econ110 - Crib Sheet - Extension GDP growth as the labor...

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Extension – GDP growth as the labor force expands but the stock per capital per worker does not grow Smithian – GDP per head grows of once-and-for-all reduction in transaction costs Promethean – GDP per head grows in the stock of capital per worker and technological innovation 6,000 B.C - Mediterranean Sea - economy of Roman Empire Rome – largest city Political fragmentation – medieval Europe Grew from immigration from the countryside – urban population of medieval Europe Declined in the West & grew in the East – medieval times serfdom Fall 2/3 during the Black Death C. Dyer claims no more than half the population lived off the land as peasants or rural laborers Ottoman Turks – Iberian peninsula Northwestern Europe two-course rotation replaced three-course rotations Silk – most expensive
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