1. Summary : Economy has been existed from the ancient times. The Babylonians and their city state neighbors developed fairly modern economic ideas. After the invention of cuneiform, the use of writing in economic actions expanded. In medieval times, venture capital has raised by the great conquerors. Marco Polo, Christopher Columbus and Vasco de Gama contributed to the foundations for a global economy. The first enterprises and first stock exchange happened in medieval times too.
There are two major themes in economy. One is capitalism, and the other is socialism. Capitalism is an economic and social system which put emphasis on freedom. The economics of capitalism developed out of the interactions of the five items: Commodities, Money, Labour power, Means of production, and Production. Socialism is theory or society. It put emphasis on equality.
2. What was interesting/What did you learn : I learned that the Babylonians and their city state neighbors developed fairly modern economic ideas. Ancient people's mental faculties are amazing.
3. Discussion Point : Ancient Asia has there own economic ideas too. But Wikibooks didn't mention about them. Why?
Ancient people's mental is amazing. So l want to follow them.
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