1. Listen to the BBC podcast at https://www.bbc.co.uk/sounds/play/p074jvrl Accor

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1. Listen to the BBC podcast at https://www.bbc.co.uk/sounds/play/p074jvrl According to some sources, the Mali king Mansa Musa (c. 1280-1337) is said to have been the richest man who has ever lived.
a) How you would you evaluate the evidence claiming Musa to have been the richest man ever lived good?
b) How did his source of wealth – gold – create inflation in Cairo?
c) Why is it problematic to include the wealth of monarchs and rulers in a list of the wealthiest people (past and present)?
2. Read Kishtainy chapter 18 (‘Down the Plughole’, pp. 110 ff.) and 27 (‘Fill Up the Bath’, pp. 164 ff.), as well as Keynes (‘Can America Spend Its Way into Recovery’, reprinted in Skidelsky, pp. 430 ff.), and answer the following:
a) Briefly describe the intellectual* and economic context in which Keynes’ economic theory emerged.
b) Why did Keynes reject Say’s Law, and what were the economic policy conclusions following his rejection?
c) Rebutting his critics, Keynes (2015: 430) rhetorically asks…”spending means extravagance. A man who is extravagant soon makes himself poor. How, then, can a nation become rich by doing what must impoverish an individual?”2 Explain how he arrived at this position.
* the intellectual context refers to the dominant ideas that existed when Keynes proposed his new theory.
Instructions (read carefully!)
1. Format: Times New Roman, Size 12, double-spaced, justified paragraph, paged.
2. Cover-information: Name, student-ID, course name, date of submission, word count. Put information on top of your paper.
3. Quotations and paraphrased passages from the texts should be appropriately referenced. Use direct quotations sparingly; they should not exceed more than 25% of your written response.
4. Bibliography (‘work cited’) in correct format.
Note:
1. Answer the questions directly and comprehensively. More writing will not guarantee more points. Most questions can be answered in 1-2 paragraphs. There is no word limit as such.
2. The sources provided are sufficient to answer the questions, you can also use your textbook of course, but no extra sources are needed.

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