China: 18th Century Flashcards
Factor Endowments
resources, population
Resources
deforestation was a problem in fuel
Population
Chinese population continued a long term trend of secular growth
China was willing to limit population size
Institutions
political system, social hierarchy, family systems, economic system
political system:
the qing dynasty was the most prosperous, developed place in the world. most powerful land army
social hierarchy
no inherent upward or downward mobility with exceptions to the examination gentry which were 5% of pop.
family systems
patriline with partible inheritence
polygamy
lineaar trusts: lineage as corporate, property holding bodies
family as main unit of economic production
Economic systems
markets: highly commercialzied with long distance markets
Land: Freely bought and sold
capital: contracts enforced in practice. private property was respected but the emperor trumped you
What was China the largest exporter and importer of?
Exporter: Products
Importer: Silver
Money
silver-copper bi metallic system
Culture
business firms: family and lineage based
many forms of partnership
some forms of limited liability
Qing: Divided state run firms
technology
long tradition of high tech conitnues
contact with Western science
ex: salt brines lead to commercialization of tech
World Systems:
China intricately connected to regional world trade
opium imports and opium war changed rules of the game
