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Study Questions: Pre-Commercial Revolution Economies

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[unable to retrieve full-text content]#### Study Questions for the History of Economic Growth: For Midterm 1: Econ 135 1. Explain in words what the steady-state balanced-growth path Solow-Malthus equilibrium equation for real living standards tells us about what the level of income will be in a Malthusian society. 2. Explain in words what the steady-state balanced-growth path Solow-Malthus equilibrium equation for the level of population tells us about what the level of population will be in a Malthusian society. 3. What do you think are the three most reasons not to take the Solow-Malthus model as gospel in understanding pre-Industrial Revolution economic growth—and its absence? 4. What are three data sources that economic historians rely on to try to get a handle on the pace of economic

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#### Study Questions for the History of Economic Growth: For Midterm 1: Econ 135 1. Explain in words what the steady-state balanced-growth path Solow-Malthus equilibrium equation for real living standards tells us about what the level of income will be in a Malthusian society. 2. Explain in words what the steady-state balanced-growth path Solow-Malthus equilibrium equation for the level of population tells us about what the level of population will be in a Malthusian society. 3. What do you think are the three most reasons not to take the Solow-Malthus model as gospel in understanding pre-Industrial Revolution economic growth—and its absence? 4. What are three data sources that economic historians rely on to try to get a handle on the pace of economic growth in pre-modern times? 5. Why did average incomes and prosperity levels remain so low back before the year 1500? 6. What were the most important changes that made the Industrial Revolution possible? 7. Where and when did the Industrial Revolution take place? 8. What theory about why the Industrial Revolution happened when and where it did do you find most attractive? 9. What are the limitations of and problems with the theory that you find most...
Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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