Population, Class Structure, and Economics An...

In Sylvia Nasar’s, Grand Pursuit: The Story of Economic Genius, Nasar describes the history of economics from the theories of Dickens and Malthus in the 1800s, to Maynard Keynes and Freidrich Hayek in the early 1900s, and into FDR’s policies and the emergence of China as a world economic power. Ultimately, throughout the history of economics four major principles have been exhibited through a variety of areas including the relationship between economics and class structure, population, and . Dickens idea that the rigid class structure is the reason for economic failure. This exhibits the economic principle that economic Systems Influence Individual Choices and Incentives. During Dickens’ era, many members of the lower classes were growing†¦show more content†¦As Winston Churchill saidâ€Å"†¦ the engine that drives Enterprise is not Thrift, but profit†, when individuals have freedom to purchase and sale as they please, as seen in the economic systems of England and the United States in the early and mid 1900s, wealth is a likely result. This proved to be true in the decades leading up to the great depression as rapid economic growth occurred. This principle was also seen after the fall of the Soviet Union, once people could trade freely there was extreme economic growth. Another economic principle illustrated in the book is that â€Å"the consequences of our choices lie in the future†. One way this is shown is through population. Building upon the theories of Dickens, Malthus believed that â€Å"nine parts in ten of whole race of mankind† were condemned to lives of abject poverty and grinding toil†, due to population. Increases in population often lead to increasing competition for the world’s scarce resources causing the standard of living to fall as a consequence of individual’s choices. This concept was also addressed in Amartya Sen’s book with Jean Drezà © â€Å"India: Development and Participation†. Sen describes why nations such as India, Southeast Asia, or those in Sub-Saharan, regardless of GDP growth, still have incredibly low standards of living for many. Due to the large populations and the rigid class structures, the competition for resources is so severe that many are stuckShow MoreRelate dSuppression and Hence Deterioration in the State of the Catholic1719 Words   |  7 PagesIn A Modest Proposal, swift has portrayed the 18th century Ireland as plagued with the problem of overpopulation, unemployment, poverty and the exploitation of the labor class by the bourgeoisie(middle class). The same problem being addressed by Karl Marx in sociological labor theories. The course of actions suggested by Swift J is, however, adverse and sets forth an example of a satirical classic piece of literature viewed and analyzed by many people over the centuries. The theme of the essayRead MoreGlobalization: What Would Karl Marx Think? Essays2234 Words   |  9 Pageshave been various relationships consisting of the oppressed and the oppressors. One of these arrangements has been the relationship between serfs and lords. In Chapter 26 of Capital I, Marx says that the current economic structure of capitalist society has grown out of the economic structure of feudal society† (M arx 2). It is therefore important to note that under the feudal system, the majority of the land’s yields were appropriated to lords and a portion of the yields were awarded to serfs. UnderRead MoreGlobalization: Its Effects on our Society Today A Brief History1435 Words   |  6 PagesWhat Is â€Å"Globalization†? 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White collar class comprises of individualsRead MoreMass Communication5882 Words   |  24 Pagesmajor in mass communication or mass communication research. The latter is often the title given to doctoral studies in such schools, whether the focus of the students research is journalism practice, history, law or media effects. Departmental structures within such colleges may separate research and instruction in professional or technical aspects of . Mass communication research includes media institutions and processes, such as diffusion of information, and media effects, such as persuasion orRead MoreThe American Transcontinental Railroad3299 Words   |  14 Pagesimpact that these immigrant workers had on the functionality of the railroad in the following report to the federal government: â€Å"Without [the Chinese] it would be impossible to complete the western portion of this great national enterprise. As a class they are quiet, peaceful, patient, industrious, and economical. 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