ECO428H1 Chapter Notes - Chapter Duvyendak: Shang Yang, Picul, Mercantilism

• School: UTSG
• Department: Economics
• Course: ECO428H1
• Professor: furlong

Document Summary

Duyvendak: shang yang as a social reformer: in ancient china only nobles hold land through some office. Farmers do not own land they cultivate: ching system: all land divided into squares that are subdivided into nine smaller squares and cultivated in common by 8 families, li k"uei: Gets average return of 150 piculs from cultivating 100 mu. Allowing 1. 5 piculs per person per month (90 piculs per year), surplus of 45 piculs. Proposes that price of grain should be controlled to improve conditions of farmers. 30 coppers required for social obligations, leaving 1050 coppers. 1500 copper needed for clothes for 5 people. Deficit of 450 coppers, without accounting for other misfortunes. Equivalent to 1,350 coppers, if 1 picul is 30 coppers. Government to buy excess supply in good years so can meet demand in bad years at normal prices: originally, cultivation of land was predatory.