Midterm essay for Economics in a historical perspective

Instructions:

Of the seven questions below you must answer total of four. The only mandatory question to answer is number four about Adam Smiths idea of the division of labor. The other three questions or up to you to choose.

Each answer should be at least one page long. Answers should be typed double spaced in 12-point type with no skipped lines between paragraphs. Answers are due in class, printed out on paper (not emailed)

Exams have a name and date on them.

Advice:

Excellent answers will not only tell but will also show by using quotes from the reading. So, be sure to use dates, names, quotations, and examples.

Midterm Questions five the following question:

Summarize Wallersteins description of the world economy. What are the key catagories and why are they important?

Summarize what William Cronon wrote about the fur trade in colonial New England. How did it function?
How did the African slave trade impact African societies?
Explain how the division of labor as described by Adam Smith In the Wealth of Nations increases productivity.
Describe the first cotton mill: where was it, when did it start, who worked in it, and what sort of machinery was used? Where did the startup capital for this mill come from? Where did the raw materials come from? Once the cotton textile industry in Britain started to grow rapidly, where did the capital for the expansion of the mills come from? (One page.)
How did clock time come to dominate modern life and how is it connected to the industrial revolution?
Why and how did the US South fall behind the North during the first half of the 19th century?

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