Sylvia Nasar: Charles Dickens, Economist (1/5)

The video discusses the economic perspectives of Charles Dickens and Alfred Marshall. Dickens, through 'A Christmas Carol,' challenged the pessimistic economic views of his time, advocating for a more optimistic outlook. Alfred Marshall, initially interested in philosophy, turned to economics during a recession, questioning the coexistence of poverty and wealth. He was inspired by Dickens and sought to understand the economic mechanisms that could improve living standards. Marshall's insights into productivity and technological progress challenged the notion that most of humanity was destined for subsistence living.

What was Charles Dickens' approach to addressing economic issues in his time?

• Organizing protests

• Writing a pamphlet

• Creating a new economic theory

• Writing a story

Who attempted to create a new economic theory alongside Dickens?

• John Stuart Mill

• Henry Mayhew

• Adam Smith

• Alfred Marshall

What event prompted Alfred Marshall to question the economic conditions of his time?

• The publication of 'Great Expectations'

• A recession in 1867

• The Industrial Revolution

• The rise of capitalism

What was the radical idea proposed by Alfred Marshall in 1867?

• The economy should be controlled by the state

• Technology would solve all economic problems

• Wealth should be distributed equally

• Every man could be a gentleman

Which novel by Dickens is referenced to illustrate societal norms?

• A Tale of Two Cities

• Great Expectations

• David Copperfield

• Oliver Twist

What did Alfred Marshall identify as a key driver of improved living standards?

• Increased taxation

• Technological progress

• Government intervention

• Population control

What outdated assumption did Marshall challenge in political economy?

• The necessity of trade barriers

• The immutability of economic conditions

• The role of government in the economy

• The importance of agriculture