Sustained increases in material productivity of human labor, Microeconomics

Assignment Help:

Why were there not any sustained increases in material productivity of human labor back before 1500?

Since improved technology quickly ran aground on resource scarcity. As human populations grew the stocks of natural resources known had to be distributed up among more and more people: miners had to use lower-quality metal ores, farmers had to farm lesser-quality agricultural land and forests vanished. Who alive today has ever seen one of the cedars of Lebanon? In place of technological progress resource scarcity meant that efficiency of labor was little if any greater in 1500 A.D. than in 1500 B.C.

 


Related Discussions:- Sustained increases in material productivity of human labor

Why is capital formation important in economic growth, Capital make large s...

Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are o

#t, what are the relevance of economics to most business today??

what are the relevance of economics to most business today??

122, 0.767 g of phosphorus and 0.650 g of chlorine were allowed to react. A...

0.767 g of phosphorus and 0.650 g of chlorine were allowed to react. After the reaction was complete, all of the chlorine had been consumed, but 0.650 g of phosphorus remained. How

Replacement demand, The total demand consists of: 1. New owner demand an...

The total demand consists of: 1. New owner demand and 2.A replacement demand The replacement demand tends to grow with the in the total stock with the consumers. Once a pe

Industrial policy, Industrial Policy: Government policies which are aimed a...

Industrial Policy: Government policies which are aimed at fostering the domestic development of particular desirable or productive industries, in order to enhance productivity, cre

Demand and Supply changes, The price of oil increases because OPEC reduces ...

The price of oil increases because OPEC reduces oil production

Evaluation of the wto, Evaluation of the WTO: The WTO is different fro...

Evaluation of the WTO: The WTO is different from and an improvement over the GATT in the following respects:  •  The WTO is more global in its membership.  •  The WTO ha

Currency was used in the 1700s, What currency was used in the 1700s? Ans...

What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa

What is the policy of the east asian miracle, The East Asian Miracle Ho...

The East Asian Miracle However the set of extraordinarily successful economies isn't limited to the set of original OECD economies. Economies of the East Asian miracle have ove

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd