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Classical Era Economy

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The philosophies of the classical era were impacted with some part dealing with the new economical growth. Many people at the time were still in poverty, small farmers, manual laborers and artisans were all severely poverty-stricken. These people unlike in the time of the polis, were not filled of pride of the city, but viewed as cogs in a machine that are replaceable. Although there was some sort of unity here, because “All subject to ‘boom and bust’ economic cycle”(Bocija). A boom and bust cycle is a process of economic enlargement and shrinking that occurs in repetition. During the boom the economy grows, the market brings high returns to investors and jobs are plentiful. In the subsequent bust the economy shrinks, investors lose money

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