Card Set Information
PRELIMS - ECO12_2 (Mr. Battung)
-represents the expansion of a country's national output
-concern with the concept of growth rate
-this determines the rate at which the country's living standards are rising
Four Wheels of Growth:
-labor supply, education, discipline, motivation
-land, minerals, fuels, environmental quality
-machines, factories, roads
-denotes the ratio of output in a weighted average of inputs
-labor inputs consist of quantities of workers and of the skills of the workforce
-consist of all those people 15 years of age or older who are currently employed or looking for work
Trends in Labor Force (The Last 50 Years)
The number of "blue-collar" job has increase compared to "white-collar job".
Blue-collar job and service industry employment has been increasing.
The proportion of women in the labor force has been increasing.
Workers have been leaving the farm.
Labor has been earning higher wages while working comparable hours.
Education has been increasingly important
-it is also called as Social Overhead Capital
-roads, irrigation, and water projects and public health measure are important examples
-denotes changes in the processes of production or introduction of new products or services
"That original state of things, which precedes both the appropriation of land and the accumulation of stock."
"This was a time when land was freely available to all, and before capital accumulation had begun to matter."
-wrote 'An essay in the First principle of population' first published in 1798
The Core Principles of Malthus
Food is necessary for human existence.
Human population tends to grow faster than the power in the earth to produce subsistence.
The effects of these two unequal powers must be kept equal.
Since humans tend not to limit their population size voluntary - "preventive checks" in Malthus' terminology.
-were to limit the population growth. It included abstinence/postponement of marriage which lowered the fertility rate.
-were ways to reduce population size by events such as famine, disease, war - increasing the mortality rate and reducing life expectancy.
-group of industrialists, scientists, economists, and statesmen from 10 countries
-published 'The Limits to Growth' in 1972
THE CLUB OF ROME
-believed that people have the resources of knowledge and technology to increase food supplies.
ESTHER BOSERUP 1965
-she suggested that population growth has enabled agricultural development to occur
ESTHER BOSERUP 1965
-the allocation of different jobs to different people.
-it can cause problem because our economy cannot sustain the jobs of all its citizen around the country.
SPECIALIZATION OF LABOR