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Lecture

Lecture Note How The Rest Got Rich

4 Pages
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Department
Political Science
Course Code
POL101Y1
Professor
Jeffrey Kopstein

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January 31st, 2010.
How the rest got rich-Political Economy 101
Getting rich has not much to do with ethics but systems.
Hong Kong pillars economy tourism ,business services, logistics(shipping)
17th century Dutch Hegemony
oDecline of Spanish dominance end of 16th century
oMulticultural (knowledge and skills concentration)
o industrial innovation (windmills, wind turbine power, sawmill proliferation )
oModern finance(first stock exchange, central bank, first place that could raise
capital from the people
oTrade
The invention of the flute ship
oCheap to make
oFewer men to handle-decrease the cost
oThe haul was shallow-increased cargo capacity
Market principle
oIncrease supply-decrease price
oIncrease consumption
oIncrease trade and market share
oFast forward to Chinese manufacturing
Assuming demand is constant, consumption is a function of price-the lower the price
the better.(Buffalo)
An increase in supply decreases price- increase in consumption(Wal-Mart)
A decrease in supply increases price- decrease in consumption(energy)
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Description
st January 31 , 2010. How the rest got rich-Political Economy 101 Getting rich has not much to do with ethics but systems. Hong Kong pillars economy tourism ,business services, logistics(shipping) th 17 century Dutch Hegemony o Decline of Spanish dominance end of 16 century o Multicultural (knowledge and skills concentration) o industrial innovation (windmills, wind turbine power, sawmill proliferation ) o Modern finance(first stock exchange, central bank, first place that could raise capital from the people o Trade The invention of the flute ship o Cheap to make o Fewer men to handle-decrease the cost o The haul was shallow-increased cargo capacity Market principle o Increase supply-decrease price o Increase consumption o Increase trade and market share o Fast forward to Chinese manufacturing Assuming demand is constant, consumption is a function of price-the lower the price the better.(Buffalo) An increase in supply decreases price- increase in consumption(Wal-Mart) A decrease in supply increases price- decrease in consumption(energy) www.notesolution.com
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