November 11 - Tangible means of production Refers to the...

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November 11, 2010 The Great Inflation Roughly about 2% annually in the 1500’s in Western Europe Boon to commerce Environment that allowed great potential for trade (buy low, sell high) Increasing availability of currency As long as money supply increased, trade increased. Around 1600 – inflation was declining Investment, in a modern sense, becomes possible British East India Company invests Investment – creation of capital goods
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Unformatted text preview: Tangible means of production Refers to the conversion of funds into goods for a profit. Industriousness Privilege first witnessed among the elite Impacting the thinking of the privileged, and they respond to incentives consumerism. Unlocking elite wealth as a source of investment Renaissance leads to the elites privilege Industriousness as an imposition and obligation....
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This note was uploaded on 11/18/2010 for the course ECO 327 taught by Professor Trinque during the Fall '10 term at University of Texas at Austin.

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