Week 10 Lecture 1

Week 10 Lecture 1 - Week10Lecture1 23:48

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Week 10 Lecture 1 23:48 Take away the distinctive paths that India and China have taken with Capitalism The two new capitalist giants In 1820 China and India produced half of the world GDP Then west developed and it was cut to 10% or the worlds GDP By 2025, I and C will produce a third of the worlds wealth Economic and political freedom were thought to be connected China proves otherwise o Political and economic freedom are not necessarily linked—as  demonstrated by china o Totalitarian can produce capitalism Chinese background China did not have good water that was necessary for agriculture o Not good for agriculture o Only the wealthy could have innovated in agriculture A most important factor in the transition to capitalism was risk taking Cultural barrier to risk taking from the poor water Mao Zhedong wanted to isolate China from the west
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This note was uploaded on 09/20/2011 for the course ECON 107 taught by Professor Murphy,g during the Spring '07 term at UCLA.

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Week 10 Lecture 1 - Week10Lecture1 23:48

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