BUS 474 Lecture Notes - Lecture 2: Dutch East India Company, Pax Britannica, Constant Capital
Document Summary
Partial shares, limited liability and perpetual lifetime. Necessary trade markups due to very high variable capital and labor costs. Insecurity of routes and risk of exportation due to endemic piracy and war: in a closed economy, what should the correlations be among landlab, papm, and. Landlab: ratio or agricultural land to labor supply. Papm: ratio of agricultural to industrial prices. Economic growth is ensured through the role of trust, cooperation, and the rule of law. Us exports & imports decline 90 & 95%; French exports & imports decline 45 & 60%; Relative price of imports raised by 100-200%; Maritime freight rates reduced by 50% (steam and suez) The rise of the classical gold standard where a country fixes the gold content they held to their currency value. Effects on trade and investment; signaling device for financial orthodoxy: what explains european overseas colonization in the nineteenth century? improvements in medical (cid:1688)technology(cid:1689); Application of ir technology to other spheres;