Quiz 6 Essay Example | Topics and Well Written Essays - 500 words

Quiz 6 - canvas ExampleIt is also helpful for those who have a doubt about the old school of scene related to economics and bridging the gap between past and present concepts. (Brittan, 202) in his book, Backhouse discussed about how Homer and Hesiods writing educated the people of Greece and gave them the idea about how life should be sustaind. The story of society discussed in Iliad and the Odyssey was hierarchical, based not on market relationships, but on the distribution of wealth through gifts, theft, prizes for loving competitions, plunder received in war, and tribute paid by defeated cities to their conqueror (Backhouse, 11) Homer in his writing considered trading as a secondary and inferior way of acquiring wealth as according to him exchanging gift among same rank holders, wining prizes in war was more better way of earning wealth. (Backhouse, 11) in that respect was very little economical data available from the time of Xenophon (c. 430354 BC) and Plato (c. 429347 BC) but one it is now a proven fact that economy at that time also based on agriculture. (Backhouse, 14) Later on Aristotle in his concept also discussed about the acquisition of wealth for peoples daytime to day activities.(Backhouse, 22) In Aristotles view there were 2 ways of acquiring wealth, one was estate commission and other one was getting wealth through exchange. (Backhouse, 22) People need money to live a good life-this was the concept of Aristotle, and for him hunger for excess money could bring about the difference of coterie and status in a society. This was the ancient Greek philosophy and it has a great influence on present western thoughts. If one analyzes the concept of neoclassical economics, then it is very clear that both Plato and Aristotle had whatever key opinion about economics. In Backhouses opinion, Plato argued for the subsistence of universals-ideal, pure forms which