Unit 1A: Biblical and Greek Economics Flashcards
_______ civilization was from 3500 BC - 500 BC, was in Iraq, Syria, and Turkey. It was characterized as the oldest civilization.
Mesopotamian
__________ civilization was from 3300 BC - 1900 BC , was in Northern Afganistan to Pakistan and northeast India.
Indus Valley
_________ civilization was from 3100 - 2686 BC, was in Egypt, and was characterized by the construction of the pyramid.
Ancient Egyptian
_______ civilization was from 2600 BC - 900 AD, was in parts of mexico and southward through Guatamela, Belize, El Salvador, and Honduras. It was characterized by Astronomy.
Mayan
_____ civilization was from 1600 BCE - 1046 AD, was from China, and was the known inventor of the paper and silk
Chinese
_______ civilization was from 2700 BC - 1500 BC, was from Grece, and was characterized by the concept of democracy and senate
Ancient Greek
______ civilization was from 550 BC - 465 BC, was from Iran, and was characterized by democracy, senate, and olympics.
Persian
________ civilization was from 1345 - 1521 AD, was from Mexico, and was characterized as Nahuati becoming the major language.
Aztecs
______ civilization was from 550 BC - 465 BC, was from Rome, and was characterized as the most powerful civilization.
Roman
_____ was from 1438 AD - 1532 AD, was from Ecuador, Peru, and Chile, and was characterized as the largest empire in South America in the pre-columbian era
Incas
This verse talks about basic need - “You may eat the fruit of any tree in the garden..”
Indication that God from the beginning, recognized the needs of humans - food.
Gen 2:16
This verse talks about savings and investments - “The food will be a reserve supply for the country during the seven years of famine”
Gen 41: 34-36
first records of formal economic organization come from __________ economies
ancient river basin economies
When did scarcity begin?
At the time Adam and Eve was expelled from the Garden of Eden
__________ literature documents the annual accounting of keepers of the royal granaries
Egyptiian
___________- is an administrative tool for annual accounting, achieving a role as a religious symbol, not as a symbol of exchange. Measures the value of exchange.
Scales of Justice
He was a greek mercenary and historian (C. 431-354 BC). Came from a wealthy equestrian family and was a student of Socrates.
Xenophon
_________ in translation, is the March of Ten Thosand of the March Up Country
Anabasis
___________ is the socratic dialogue on household management and agriculture. It is the true history of economics.
Oeconomicus
the term Oikonomia was said to be coined by Aristotle, but is really from ?
Xenophon
Who translated the term “Oeconomicus” into latin during 362 BC?
Cicero
This begins with dialogue between socrates and critoboulus (son of Crito), where socrates discusses the meaning of wealth and associated it with usefulness and well-being
Oeconomicus
Links moderation and hard work to success in household managament, or can be referred to as “work-life balance” in today’s generation
Oeconomicus
The term/idea of individual & exchange value came from Oeconomicus, what is the difference between individual and exchange value?
INDIVIDUAL - value of commodities to the person who owns them
EXCHANGE - value of the commodities to the person who wants to acquire them
_________ (an athenian gentleman-farmer), also known as “kaloskagathos” describes the methods he used to educate his wife in housekeeping
Ischomachus
___________ is a systematic treatment of the organization and administration of the agricultural estate, emphasizing human capital and organizational efficiency
Oeconomicus
the _____________ is the backbone of the economy, according to oeconomicus
family farm
_____________ is Xenophon’s biography of Cyrus the great, which drew on the Babylonian and Persian Tradition, emphasizing the training of cyrus.
Cyropaedia
__________ contained discussions of the administrative stimulus of private production and technology.
Hiero
_______ and __________ - treatise on economic development emphasizing economies of scale, prgramming, and promotion.
Ways and Means
What is the concept of fair exchange in cyropaedia?
To be just, an exchange must be voluntary (idea of cyrus where his colleagues flogged him)
This is the most imporant legacy of Xenophon’s thought in the history of economic ideas is?
The formulation of the division of labor
He was one of the founders of Western philosophy (C 470-399 BC). First moral philosopher.
Socrates
He was one of the wealthiest and most politically active families in Athens. He was also the founder of the Academy in Athens, and wrote the “Republic”
Plato
________; c. 380 BC, 10 books, most influential works of philosophy and political theory, where the order and character of the just city-state, and the just man were discussed.
Thoughts about how a good leader can promote economic well-being.
Republic
Republic book 1
_________ defines justice as giving what is owed
Cephalus
Republic Book 1
_________ defines justice as “the art of which good to friends and evil to enemies”
Polemarchus
Republic Book 1
_________ states that “justice is nothing else than the interest of the stronger”
Thrasymachus
Republic Book 1
_________ overturns their definitions and says that it is your advantage to be just and disadvantage to be unjust
Socrates
Republic Book 2
_________ says “The unjust should not fear any sort of divine judgement and also wrote that the Gods would grant forgiveness to those humans who made ample religious sacrifice”
Aidemantus
Republic Book IV
each person will be happy engaging when?
in the occupation that suits him best
He is a student of plato, “Father of Western Philosophy”. Significant contributions contributions on logic, math, physics, etc. Wrote as many as 200 treatises of which only 31 have survived.
Aristotle
- nicomachean ethics
- 8 books (divided into chapters)
Politika
T OR F
For Aristotle, the primary meaning of economics is the action of using things required for the Good life.
“Economics as a practical science”
TRUE
T OR F
End of economics as a practical science is attaining effective action.
TRUE
Politika Book 1 talks about?
- relationship between city and man
- discusses the oikos (household)
- criticizes income derived from trade and interest - “contrary to human nature”
Politika Book 2 talks about?
diminishing marginal utility and an ordinal hierarchy of values
Nichomachean Ethics Book V talks about?
justice in exchange surveys justice in distribution
This is a nuance in Aristotle’s analysis of exchange, his point was parties are drawn together because they both see a potential advantage in exchanging.
Consumer Surplus
This is a work attributed to Aristotle, modern scholars, in which consists of 2 books.
Oikonomika
Oikonomika Book 1 talks about?
how economies and politics differ in 2 ways
1) in subjects they deal with
2) the number of rulers involved
Oikonomika Book 2 talks about?
Types of Economies
Type of Economy
- simplest, most important: king and top management judge value
- coinage, imports, exports, expenditures
Royal Economy
Type of Economy
- the medium between the economies; gov officials work with royals; land is most important source of revenue
- 8 kinds of revenues (land, products, merch, tax, cattle, other resources)
Satrapic Economy
Types of Economy
- “The economy of the City”
- sources of revenue are merchandise, scarce resources, and taxes
Political Economy
Types of Economy
- practiced by the individual
- least important because income and exchange of money are small
- revenue comes from land, property, investments
Personal Economy
4 types of economy accding to Book 2 of Oikonomika?
Royal, Satrapic, Political, Personal
