By Edward Barbier
ISBN-10: 1137403381
ISBN-13: 9781137403384
ISBN-10: 113740339X
ISBN-13: 9781137403391
Drawing on ancient and modern facts, this ebook argues that turning out to be environmental degradation and wealth inequality are associated with how nature is exploited to create monetary wealth. finishing the under-pricing of typical capital and inadequate human capital accumulation is key to overcoming structural imbalance in glossy economies.
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Additional info for Nature and Wealth: Overcoming Environmental Scarcity and Inequality
Sample text
29 The world economy also fully emerged during this era. The voyages of Columbus in the 1490s led to an Atlantic trade route connecting Europe and the “New World” colonies in the Americas, whereas Vasco da Gama’s journeys during the same decade established a European trade route to the Indian Ocean via the Cape of Good Hope. By 1521, the Pacific Ocean was crossed, and in 1571 the first Asia–Americas trade link was established via the entrepôt port of Manila. Thus, in less than a century, a global trade network was created linking all the major populated continents of the world and exchanging products continuously.
By 1500, an international economy was firmly established. 25 Trade fostered wealth creation because it facilitated access to the most important sources of “wealth” across the world. By 1000 AD, the rapid expansion of international trade was mainly due to the growth and development of three regional economic powers, the Islamic states of North Africa and West Asia, the Delhi sultanates of Northern India and the imperial dynasties of China. 27 As a result, 1000 to 1500 AD was the era of the “Golden Age of Islam” in North Africa, West Asia and Northern India (ca.
For example, Ron Findlay and Kevin O’Rourke note that “throughout the sixteenth and early seventeenth centuries, pepper, other spices, and indigo constituted the bulk of Portuguese imports from Asia, while in the eighteenth century imports of tea and coffee became important in both the Dutch and English cases. ”14 The expansion and development of railways also led to the “opening up” of new lands for agricultural development. 15 But the most impressive railway development occurred in regions outside of Europe from the mid-19th century onwards.
Nature and Wealth: Overcoming Environmental Scarcity and Inequality by Edward Barbier
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