TeaTime

[TeaTime @TeaTime90007141]

@plaguespanics Taste plays a role in what people desire, and desire plays a role in the idea of commodity, because if everyone desires the same things, demand will be higher, and probably valued higher.

[TeaTime @TeaTime90007141]

@plaguespanics By learning that cotton was mainly cultivated in India, and that European countries were not the first to utilize this source for fashion, provided insight on India's influence on the trade of cotton, but also highlights that Western cultures were not as in control as they seemed

[TeaTime @TeaTime90007141]

@plaguespanics 1. The relationship between crisis, capitalism, and competition
2. The use of slave labor to drive the growth of capitalism and the economy

[TeaTime @TeaTime90007141]

@plaguespanics I expected the reading to be supportive of capitalism, but instead, Harman brought up some very logical points about the structural issues with capitalism, and praises Marx at times. I found his criticism of the free market system very interesting.

[TeaTime @TeaTime90007141]

@plaguespanics A connection is greed for things of monetary value. Corporations are solely focused on maximizing profit, which we have seen end badly despite having previous success (VOC, East India Company, South Sea Bubble), due to abusing labor, and natural resources, and a bubble is created

[TeaTime @TeaTime90007141]

@plaguespanics The Mississippi Bubble bear reminds me of the VOC and the East India Company. They all had periods of significant power and profitability, but by leveraging so much debt to grow, ended up not being able to repay it, which caused them to end up bankrupt.

[TeaTime @TeaTime90007141]

@plaguespanics The South Sea Bubble was created by the South Sea Company, and their growing influence over the government, to reduce national debt. Stocks were sold to raise money, but the 'bubble' was created when the company lent more money than it had.

[TeaTime @TeaTime90007141]

@plaguespanics 3. Importance of colonialism in "deskilling" and "deindustrialization" of India

[TeaTime @TeaTime90007141]

@plaguespanics 1. “Barbaric and backwards” - refer to Asian people. Asia as vast empires for goods Europeans had to buy from them, and the fact that Asia outcompeted them
2. “Importance of human agency” in 18th century & now- now have choice:fossil fuels, stop deforestation, revive habitats etc

[TeaTime @TeaTime90007141]

@plaguespanics b) I wonder what aspects played a role in the fact that African slavery was more emphasized in media, when Chinese Indentured slaves also laboured alongside them, and were treated with similar brutality.

[TeaTime @TeaTime90007141]

@plaguespanics a) despite receiving free wages and housing, the Chinese Indentured slaves were still treated brutally (sometimes worse than slaves) and suffered high death rates

[TeaTime @TeaTime90007141]

@thebostonteapa3 @plaguespanics I agree- the online sources offered the more optimistic side of the opium trade, whereas the film depicted the tragedies of slavery and way of life, due to the trade.

[TeaTime @TeaTime90007141]

@plaguespanics They were presented differently - the online resources were more optimistic, and mentioned the opportunities presented by opium trade, and the logistics of this trade. The film, however, presented the tragic side of the trade, capturing the negative impacts it had.

[TeaTime @TeaTime90007141]

@plaguespanics One thing I can't get out of my head is the fact that Chinese and Indian people were forced into slavery first, but that this is not talked about at all. I had always thought that African slavery was the only form, since it seems to be the only form talked about.

[TeaTime @TeaTime90007141]

@plaguespanics 2. Are there parallels in terms of growth Europe saw in the 18th century, between modern day technology innovation, and the development of steam engines and synthetic cloth?

[TeaTime @TeaTime90007141]

@plaguespanics 1. What would Malthus say about today's population growth compared to the rapid decline in our resources? Is there a particular nation that Malthus would still consider to "possess superior methods of maintaining balance between people and resources"?

[TeaTime @TeaTime90007141]

@plaguespanics 1. Influx of silver in new world caused economic imbalance (rapid silver trade meant inconsistency, but economy benefitted from excess currency)
2. Silver became greatly important as trading currency, allowing China to import and export key resources

[TeaTime @TeaTime90007141]

@plaguespanics Europe able to expand/industrialize by capitalizing resources available to them, since they were positioned on land with abundant sources. What measures should we put in place to prevent large corporations from becoming too powerful, since they already have large sums of money

[TeaTime @TeaTime90007141]

@plaguespanics 1. Would modern life be conducted any differently (timelines, culture, work ethics etc.) if Europe hadn't been lucky, and been able to expand the way they did?
2. What are the lasting effects, if any, that still stand from the Great Divergence?

[TeaTime @TeaTime90007141]

@plaguespanics Last week: https://t.co/QuwSuf72Rg
Coal significant resource, but hard to get, which made it even more scarce and important to possess
Europe more successful than China b/c of connections to new world, and "lucky" geographical location

[TeaTime @TeaTime90007141]

@plaguespanics I think his key argument is that Europe's dominance wasn't strictly from power or influence, but from lucky things such as rich resources (eg. coal), that weren't in their control. Europe's global colonization spurred from location and abundance of resources, resulting in trade.