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.

How did Dickens' portrayal of social mobility in 'Great Expectations' reflect the economic realities of his time?

What was the significance of the technological progress and rising productivity in Marshall's economic theory?

What does the phrase 'the bottom 9/10 of humanity was destined to live at subsistence' imply about the economic conditions of the time?