A.) While reading this excerpt, I kept trying to think back to the reason for the Economic Revolution. I felt like I had read it somewhere, but only until I finished reading did I realize that there was no one reason for the Economic Revolution. To trace it back to its origins and study how it came about would very hard if at all possible. The Economic Revolution came about spontaneously. I find this piece of information to be rather ironic considering the principles that guide economics today (see I, Pencil). The market system can only succeed if everyone takes advantage of their practice and works together spontaneously. There is no mastermind, but rather an Invisible Hand that puts everything where its supposed to be. Spontaneity is needed for the economy to flourish and the fact that the Economic Revolution was a result of this spontaneity is very interesting.
B.) 1. How did a free market system ever come into being considering the great lengths that people took to prevent a revolution?
2. Did people really want a change? If not, why did this change occur?
3. Which group of people took the most advantage of the free market system?
C.) I think that we were asked to read this article because it explains the reasons why we even have an economy and economists today. Without the Economic Revolution, our life would clearly be a lot different from today. And I think that the point needed to be made that the Economic Revolution came in "agony": people (at least at first) did not want change, yet it happened anyway.
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