The topic of The World That Trade Created by Kenneth Pomeranz and Steven Topik is mostly dealing with society, culture and economy. The book takes place all over the world from 1400 to present. The time periods are so interesting because it relates to the modern day economy. It also shapes how our economy came to be, where these ideal strategies for industry and etcetera originated- the cultural and traditional background of societies first using these tactics- and an overall extensive, lively history of economics. The modern day results in success and that is helpful for readers living within the new age society.
Corporations are widely discussed today and take on a big role in the growing debate about the role of corporations should have in society today. “Why did the seventeenth- century Europeans create the worlds first corporations?” demanded Pomeranz and Topik. “looking back from 2005 the answer seems obvious: the corporation seems like such a logical way to do business..” but corporations had a violent birth. The first corporations didn’t have a permanent life, nor did they self-liquidate. Other Europeans, like- Middle East, India, South East Asia, Japan and China all through the eighteenth century had no need for the corporate form. Northern Europeans would need to seize and fortify and arm ships to patrol the waters, to be in play with the Asians. Europe however couldn’t create monopolies.
After years of conflict and many revolts by shareholders who wanted the company to wind down rather than grow, the company was re-chartered rather than liquidated after twenty-one years, the directors got the flexibility to lower dividends (amongst partners) when they needed to build up capital, and Dutch investors learned to operate like shareholders today.”” The idea of companies that took care of their own protections costs did not last, of course.” “by the 1830’s all these companies had collapsed, and their colonies had been taken over by governments-just as a new era of capital-intensive industry was about to create more productive uses or the corporate form that they had pioneered.”
The World That Trade Created is a history of society, culture, and economics. It taps in tp the painful and brutal truth of our global economy system. Modern world emerges with varied foods, advanced societies, a background of poverty and violence and monopolies and so on and so forth. The society aspect touches base on the trade of slaves. These slaves would mine necessities like gold, silver, cotton, tobacco, coffee, tea, sugar and rubber on plantations in different regions. Culture like Christianity came ion hand with the law. Culture and central planning were works in progress acting on one another’s evolutionary development. The economy of it all deals with so many trade tactics. It helps readers understand that economic activity cannot be divorced from social and cultural contexts. It was made from flesh and blood to its relevance today.
The relevancy of the books information today outlines moral economy and how its being held somewhat fair today. It also relates to market economy to understand our world. Nature and culture continue to transform economics today. As much understanding there is of economics it is still playing out and unwinding today. It continues to have situations that need fixing and is still being debated over today. Economy ultimately impacts society.
Courtney from Study Moose
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