Reading Niall Ferguson's Empire (Part 3)
I'm still in the Chapter 1: Why Britain? (- p.44) There are some new information and/or interpretation to me. First, "(S)ickness and disease had in many ways proved the most persistent of all the obstacles to European expansion."(p.10) Second, regarding Dutch East Indies Companay, "the Dutch company rewarded its managers on the basis of gross revenue rather than net profits, encouraging them to maximize the volume of their business."(p.19) Well, there must have been the backside of its expansion: low profitability.
Third, it looks like the Dutch instituted the Central Bank earlier than the British. It was called Amsterdam Wisselbank(p.23). I have to study on it later. I wondered when was the Dutch tulip bubble.
Fourth, the British 'Glorious Revolution' had "the character of an Anglo-Dutch business merger."(p.22) Hmmm, interesting interpretation, I have never heard of. But, it makes just sense. So, "(a) deal was done which effectively gave Indonesia and the spice trade to the Dutch, leaving the English to develop the newer Indian textiles trade."(p.23)
Fifth, "agency problem" within British East Indies Company (p.25). Sixth, the crutial factor on British triumph against France lies in national debt (p.35). Seventh, the Scots were many in East Indies Comapany (p.39). Eighth and last, the words of Samuel Johnson (p.43) just reflects economic thinking.
So far, so good.