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POL101Y1 (1,148)
Lecture

Political Economy 101

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Department
Political Science
Course
POL101Y1
Professor
Michael Painter- Main
Semester
Winter

Description
Political Economy 101how the rest got richy January3111 y 1216 PM capitalismbureaucracy have found each otherbelong intimately together MaxWeber 1911 y Getting rich has less to do with the people but more to do with the system economic systemhow these are structured by the govtpolicy Audio recording started 1219 PM January3111 y Political Economy 101how the rest got rich wma y Hong Kongthe freest economy in the worldthe most capitalisttourism services logistics 3 pillars of Hong Kong economy17th Century Dutch Hegemony y Decline of Spanish dominance end of 16th C y Multicultural y Industrial innovation y Modern finance y Trade thy Naval supremacy decline of Spanish empire rush of the Dutch economy in the 17 Century Amsterdam most multicultural city in the world at the timeCatholicProtestant SouthNorth Europe respectively Jews South Asians etc all livedtogether in the name of commercenot only social diversity but also knowledgeskills y Tremendous conglomeration of global knowledge concentrated in Amsterdam the beginnings of a knowledgebased economywindturbine power effectively proliferated at this time used for mechanized industrialization the saw mill began to proliferate as a means by which to eventually build an industrial economy cut wood fastermore precisely y Amsterdam was the centre of modern financewhere the first stock exchange was created the first place where we saw a central bank furthermore was willing to invest in central economyraise funds from public sources Could then build big companies need capital etcBig company first to issue stock backed by this banky Based on trade first time really see international trade of the sort of scale evident by Dutch economy in the 17th century trade routes crossing Atlantic to North America
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