Question

The living standards data compiled by the late Angus Maddison reveal a pattern in which the material living standards of Western Europe were essentially “flat” from the year 1 CE to 1500 CE, and only start increasing dramatically post-1600 CE. The thesis has been advanced that this rise in Western European material living standards correlates wit the birth and development of Economic Thought/Theory, whereby men explicitly attempted to rationalize the laws governing economic phenomena. Prior to 1700 CE, most of life in Western Europe was organized around the dogma and kerygma of the Catholic Church, the influence of which was increasingly diminishing post-1500 CE. Consider the Biblical passages below from the Holy Bible: • Leviticus 25:37. “You shall not lend him your money at interest, nor give him your food for profit.

• Luke 12:15. “And he said unto them, Take heed, and beware of covetousness: for a man’s life consisteth not in the abundance of the things which he possesseth.”’

• Timothy 6:10. “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows”’.

• Philippians 4:19. “But my God shall supply all your need according to his riches in glory by Christ Jesus”

Answer 1

The Biblical phrases quoted here, clearly deflorate how, The Bible has given us all the advice we need to sustain our living in any situation and environment. As per the quotes, we need to follow the advice in the phrases to carry on our daily life at a constant and normal pace. As we can see how the living standards of people in the Western Europe. The dedication of the people towards these phrases had led them to pull themselves put of the meagre living standards they were in post 1500 CE. After 1500 CE, the people started to deviate themselves from the old and slender thinking that they were in. They started to develop more rational thinking in to their livelihood which gave them more understanding of the economic standards that they need to maintain for a sustainable living. The slender economic standard that the people were in was pulling them down in to dust. Post 1650 CE, the people of Western Europe were almost out of slender thinking.