Demographic Change
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European populations grew only slowly during the period 1200-1700; factors include disease and wars. Human feces and rotting animal remains were not sequestered and often contaminated drinking water. Cities were so filthy that more people died in them than were born. About a third of children died in infancy, many from abandonment and lack of care during wet-nursing. Children that survived were subjected to harsh discipline to control...more
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The classic falling ladder problem.
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Professor Summers, former U. S. Treasury Secretary and former President of Harvard University, in this the first of two lectures in honor of former Yale Professor and Council of Economic Advisors chairman Arthur Okun, offers thoughts on the role of monetary policy in economic fluctuations, past and present. In the "Okun period," ending about when Okun died in 1980, the monetary authorities were very much involved in actually creating...more
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An example of solving for the final velocity when you know the change in distance, time, initial velocity, and acceleration.
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Asiatic cholera was the most dreaded disease of the nineteenth century. While its demographic impact could not compare to that of the bubonic plague, it nonetheless held a tremendous purchase on the European social imagination. One reason for the intense fear provoked by the disease was its symptoms: not only did cholera exact a degrading and painful toll on the human body, it also struck suddenly, and was capable of reducing the...more
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Edmund Burke was an English politician who wrote his Reflections on the Revolution in France to express his disdain for the destructive havoc wrought by the French Revolution. As a traditionalist-conservative, he thinks about social change in a cautious and incremental way and characterizes the social contract as binding on those who are living, those who are dead, and those who are yet to be born. Studying the anti-Enlightenment differs...more
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Lets change the discount rates depending on how far out the payments are.
