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School
University of Guelph
Department
Economics
Course
ECON 2720
Professor
B Ferguson
Semester
Winter

Description
Lecture 19 February 24, 2014 10:28 AM State of the Dutch Economy - Throughout the 16th and 17th century Dutch was the richest country in Europe, and this was done through trading and entrepreneurship - Because there was no refrigeration when fish were fished at sea, they needed to be brought back to land very quickly so they could be salted - The "Herving Buss" was a fishing boat where fish could be salted at sea - These ships were built a lot larger so they could stay at sea for multiple days and could carry a lot more fish, and the Dutch came to dominating fishing - Britain saw this as a major threat so they subsidized the building of this ship - Ships were built poorly to capitalize on the subsidy and British fishing actually declined - Standardized ship building was important because ship builders could produce ships year round because every ship was the same, and a client would come along eventually and then the ship would already be ready - This also meant that the production of ships became standardized, as well as all the materials - Saw mills could now stay in constant production as well because all ship builders used the same timber and they knew someone would come for this timber eventually - Previously ships were
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