Sunday, September 11, 2011

The Economic Revolution , the Worldly Philosophers, by Heilbroner

Mankind is by nature self-centered. Nevertheless, societal needs ,such as hunger, push us together to accomplish tasks that could not be done by ourselves. This has established societal norms like kinship and collaboration. To ensure the continuation of society, man has made traditions for the next generation to go into careers in which they can utilize their selective skills. Centuries upon centuries, mankind was never in need of economists in spite of various economic scales of wealth. Later on, economists devised the market system in which each person could do that which was to his/her best monetary advantage.  The market system marked the beginning of the modern world's most important revolution. The incentive of financial gain proved to be better than that of authoritarian rule. The very idea of gaining profit to have a surplus is actually modern and had no system or base in history beforehand. For people who had any form of capitalism in mind, society's answer was societal exile. A market system is more than simply exchanging goods. It is a mechanism for sustaining and maintaining a society(Heilbroner 27). There was virtually nothing for any sort of economist to do in the Middle Ages and the short span of time that followed in the pre-Capitalist era. To make your own path or bring about change was inconceivable because it was viewed as unimportant and irrelevant. The foremost causes that brought about the possibility of the modern market system are the following: spark in scientific curiosity, new political leadership,  and emergence from the dark ages. From those stepping stones, man began to delve into the principles of gain and profit. With the help of leaders who were akin to economists such as Adam Smith, great advances in ideologies and foundations were made to construct the modern workplace society in which we all live in today.

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