ECON 372 Study Guide - Midterm Guide: Pax Mongolica, Chindia, System 6
26 Feb 2018
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Document Summary
The spread of latin as a common language. The unification of linguistic, monetary and physical standards. Only if the recognize them as such. Domestically, lack of strong governments to enforce contractual obligations. Existing system of forced labour imposed on natives proved insufficient. An absolutely adverse set of disease vectors for europeans: (cid:1688)get rich or die trying(cid:1689: what explains the success of european merchants in seizing the trade of the indian. Open conflict among europeans and native principalities and one another. Chinese retreating from the seas when trade made illegal in 1430"s under ming. Partial shares, limited liability and perpetual lifetime. Necessary trade markups due to very high variable capital and labor costs. Insecurity of routes and risk of exportation due to endemic piracy and war: in a closed economy, what should the correlations be among landlab, papm, and. Landlab: ratio or agricultural land to labor supply. Papm: ratio of agricultural to industrial prices.
