ECON 2K03 Lecture Notes - Lecture 4: Lower Canada, Luxury Goods, Big Hat
11 Dec 2017
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Document Summary
European ambitions shape development of canadian economy. Fish and furs allow us to explore early institutional arrangements nd the dynamic between institution, organizations, and factor prices at the birth of capitalism. Helps us understand the origin of canada"s economy. First sustained exploitation of a resource by europeans. Wet method: system of fishing where you catch, gut, and pour a ton of salt over it, once ship was filled up, you went back and sold it. Dry method: the fish would be laid out on the beach, lightly salted, and then dried out in the sun shore (2-3 weeks to preserve) time was gained through evaporation. The wet method required a lot of salt. The dry method required much less salt, but did require drying stations on. Problem for the british as they didn"t have much salt. The british didn"t have a source of salt, so they had to buy their salt and they.
