November 9 - Largest source of silver ever found up to this...

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November 9, 2010 Civic Virtue is an attempt to separate governance from ambition those who compete are least worthy. This leads to the legitimacy of the rule of law (precursor to the legitimacy of market signals) The Industrious revolution follows – and the middle class aspires to the culture of the elites. Middle class is more aware of and responsive to market forces. Louis IX – Political expression of the Renaissance. Set up mechanisms to derive surplus and acquiring available taxes, as well as avoiding corruption. France looked poised to be the world’s dominant economy. In the centuries preceding the emergence of capitalism, the world’s economy depended on the interaction between France and England. Intendant – tax authorities Bohemia – region in Eastern Europe (Germany/Poland) Another mining center for silver.
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Unformatted text preview: Largest source of silver ever found up to this point. Abundant enough to stimulate trade, rare enough to retain value. Potosi Bolivia First city in the New World to have a larger population larger than that in Teotihuacan Mining city for precious metals (silver). Dollar US currency Dolar in Spanish Pound British currency Spanish silver was a prominent currency before the founding of America. British money was never influential in the American colonies Dolar was the weight of silver in a coin. Our original dollars were actually Spanish silver coins. Thaler Germanic word for currency Name comes from silver found in Joachimthal Great Inflation of 16 th century Tremendous increase in the quantity of silver money....
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This note was uploaded on 11/18/2010 for the course ECO 327 taught by Professor Trinque during the Fall '10 term at University of Texas at Austin.

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November 9 - Largest source of silver ever found up to this...

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