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Economics on the slant | 44 comments (44 topical, editorial, 0 hidden)
Re: Economics on the slant (4.00 / 2)
Out of links, I will have to rely on scetchy recollection. As I was tought, the standard model was something like this:

  • Spain plunders America.
  • England and Netherlands gets a little from pirating Spains silver transports and a lot from producing stuff like wool and selling to wealthy Spainish.
  • Inflation unseats land-owning nobility in favor of new merchant/entrepreneur-class (in particular England, Netherlands was already merchant-dominated).
  • So money landing in England and Netherlands is re-invested in trade.
  • First Netherlands, then England takes over world trade and extracts rent from basically everything.


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by A swedish kind of death on Mon Apr 11th, 2011 at 05:32:36 PM EST
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Economics on the slant | 44 comments (44 topical, 0 editorial, 0 hidden)
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