POL101Y1 Lecture : How the Rest Got Rich
15 Feb 2011
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Thesis for today: getting rich has less to do with people and the protestant ethic and more to do with economic systems and how these systems are structured by public policy. hong kong"s economic pillars: tourism, business services (finance, banking, investment houses, stock market, legal services), logistics (shipping, allowing for high amounts of goods to flow through china) decline of spanish dominance end of 16th century. dutch economy was the biggest in the globe in this time. as spanish empire declines in 16th, rise of the dutch economy in the 17th century. amsterdam was the most multicultural city in the world. what these different people brought with them was knowledge, skills. this was before the era of steel. windmills and wind turbine power was effectively proliferated and used for mechanized industrial innovation. sawmill, allowing wood to be cut faster and more precisely.
