Economic class Essay Example | Topics and Well Written Essays - 500 words

Economic class - Essay Example The models fitted well into the turnarain framework while the attention [paid to the link between market forces and institutional development made a richer discussion. The emphasis on foreign and external demand sources to trigger growth has much more appeal that those explanations that are based upon supply forces and that seem to lack a starting mechanism. Regional specialization and possibilities for inter-regional trade in the antebellum Unites States have intrigued economists and historians alike. The works of Douglass C. North have stimulated a lot of research on the location and the growth of industries and populations. The issue of economics of slavery complemented the study of regional development. Discussion revolves around Southern development, both in the agricultural and manufacturing sector, with particular attention being paid to the question to which the south was successful or could have been successful in feeding itself as well as producing staples for export. The e vidence collected by various researchers indicated that the south was largely independent of the western food supplies (Herbst Lawarence 1975, 264-270). The basic model used by North bares resemblance to that by Innis as the "staple