i The World That Trade Created The World That Trade Created brings to life the history of trade and its actors In a series of brief, highly readable vignettes, filled with insights and amazing facts about things we tend to take for granted, the authors uncover the deep historical roots of economic globalization Covering over seven hundred years of history, this book, now in its fourth edition, takes the reader around the world from the history of the opium trade to pirates, to the building of corporations and migration to the New World The chapters are grouped thematically, each featuring an introductory essay designed to synthesize and elaborate on key themes, both familiar and unfamiliar It includes ten new essays, on topics ranging from the early modern ivory and slave trades across the Indian Ocean, to the ways in which the availability of new consumer goods helped change work habits in both Europe and East Asia, and from the history of chewing gum to that of rare earth metals.The introductory essays for each chapter, the overall introduction and epilogue, and several of the essays have also been revised and updated The World That Trade Created continues to be a key resource for anyone teaching world history, world civilization, and the history of international trade Kenneth Pomeranz is University Professor in History at the University of Chicago, USA, and was President of the American Historical Association in 2013–​2014 Steven Topik is Professor of History at UC Irvine, USA, where he has worked since 1984 Previously he taught at Brazil’s Universidade Federal Fluminense and Colgate University ii iii The World That Trade Created Society, Culture, and the World Economy, 1400 to the Present Fourth Edition Kenneth Pomeranz and Steven Topik iv Fourth edition published 2018 by Routledge 711 Third Avenue, New York, NY 10017 and by Routledge Park Square, Milton Park, Abingdon, Oxon, OX14 4RN Routledge is an imprint of the Taylor & Francis Group, an informa business © 2018 Taylor & Francis The right of Kenneth Pomeranz and Steven Topik to be identified as authors of this work has been asserted by them in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988 All rights reserved No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe First edition published by M.E Sharpe 1999 Third edition published by M.E Sharpe 2013 Library of Congress Cataloging in Publication Data Names: Pomeranz, Kenneth, author | Topik, Steven, author Title: The world that trade created : society, culture, and the world economy, 1400 to the present / Kenneth Pomeranz and Steven Topik Description: Fourth Edition | New York : Routledge, 2017 | Revised edition of the authors’  The world that trade created, 2013 | Includes bibliographical references and index Identifiers: LCCN 2017020753 | ISBN 9781138680739 (hardback) | ISBN 9781138680746 (pbk.) | ISBN 9781315564081 (ebook) Subjects: LCSH: Commerce–History | Commerce–Social aspects–History | Culture–History | Industrialization–Social aspects–History | International economic relations–History | Economic history Classification: LCC HF352 P58 2017 | DDC 382.09–dc23 LC record available at https://lccn.loc.gov/2017020753 ISBN: 978-​1-​138-​68073-​9 (hbk) ISBN: 978-​1-​138-​68074-​6 (pbk) ISBN: 978-​1-​315-​56408-​1 (ebk) Typeset in Bembo by Out of House Publishing v For my mother, Lottie Pomeranz Spaeth (1924–​2015), one more thank you; and for Maureen, to whom I owe more every day—​Kenneth Pomeranz To Martha, for your brilliant insights, your steady patience, and your perfect grammar, this book is dedicated with all my love—​Steven Topik vi vii Contents Acknowledgments Introduction The 1.1 1.2 1.3 1.4 1.5 1.6 Making of Market Conventions The Fujian Trade Diaspora The Chinese Tribute System Funny Money, Real Growth When Asia Was the World Economy Treating Good News as No News Pearls in the Rubble: Rediscovering the Golden Age of Quanzhou, ca.1000–​1400 1.7 Aztec Traders 1.8 Primitive Accumulation: Brazilwood 1.9 A British Merchant in the Tropics 1.10 How the Other Half Traded 1.11 Deals and Ordeals: World Trade and Early Modern Legal Culture 1.12 Traveling Salesmen, Traveling Taxmen 1.13 An Indian Ocean Commodity Circuit: How to Turn Cotton into Ivory 1.14 Going Nonnative: Expense Accounts and the End of the Age of Merchant Courtiers 1.15 Empire on a Shoestring: British Adventurers and Indian Financiers in Calcutta, 1750–​1850 Transport and Tactics 2.1 Woods, Winds, Shipbuilding, and Shipping:  Why China Didn’t Rule the Waves xi 13 15 18 20 23 26 30 32 35 37 39 41 43 48 50 53 58 viii viii  | Contents 2.2 Better to Be Lucky Than Smart 2.3 Seats of Government and Their Stomachs: An Eighteenth-​Century Tour 2.4 Pioneers of Dusty Rooms:  Warehouses, Transatlantic Trade, and the Opening of the North American Frontier 2.5 People Patterns:  Was the Real America Sichuan? 2.6 Winning Raffles 2.7 Trade, Disorder, and Progress: Creating Shanghai, 1840–​1930 2.8 Out of One—​Many 2.9 Guaranteed Profits and Half-​Fulfilled Hopes: Railroad Building in British India 2.10 A Brief  Trip Across the Centuries 61 The Economic Culture of Drugs 3.1 Chocolate: From Coin to Commodity 3.2 Brewing Up a Storm 3.3 Mocha Is Not Chocolate 3.4 The Brew of Business: Coffee’s Life Story 3.5 America and the Coffee Bean 3.6 Sweet Revolutions 3.7 Paying for Power: “Sin Taxes” and the Rise of the Modern State 3.8 How Opium Made the World Go ’Round 3.9 Tobacco: The Rise and Decline of a Magical Weed 3.10 Making Smoking Modern: From Pipes to Cigarettes in Egypt and Elsewhere 3.11 Chewing Is Good, Snorting Isn’t: How Chemistry Turned a Good Thing Bad 81 86 87 90 92 94 96 99 103 106 Transplanting 4.1 Unnatural Resources 4.2 Bouncing Around 4.3 Golden Misfortune: John Sutter in the Wilds of California 4.4 California Gold and the World 4.5 El Dorado or Wild Coast? How a Remote Place Was Washed by the Tides of  World History 4.6 Beautiful Bugs 4.7 How to Turn Nothing into Something: Guano’s Ephemeral Fortunes 4.8 As American as Sugar and Pineapples 4.9 How the Cows Ate the Cowboys 4.10 The Tie That Bound 4.11 The Good Earth? 4.12 One Potato, Two Potato 119 126 128 130 133 63 65 66 68 73 75 77 79 112 115 135 138 142 144 146 149 150 152 ix Contents  |  ix 4.13 Cocoa and Coercion: Advances and Retreats for Free Labor in West African Agriculture 4.14 Trying to Get a Grip: Natural Rubber’s Century of Ups and Downs The 5.1 5.2 5.3 5.4 Economics of Violence The Logic of an Immoral Trade As Rich as Potosí The Freebooting Founders of England’s Free Seas Adventure, Trade, Piracy: Anthony Shirley and Pedro Teixeira, Two Early Modern Travelers 5.5 The Luxurious Life of Robinson Crusoe 5.6 No Islands in the Storm: Or, How the Sino-​British Tea Trade Deluged the Worlds of Pacific Islanders 5.7 The Violent Birth of Corporations 5.8 Buccaneers as Corporate Raiders 5.9 Looking for the Next Worst Thing: Emancipation, Indentures, and Colonial Plantations After Slavery 5.10 Bloody Ivory Tower by Julia Topik 5.11 How Africa Resisted Imperialism: Ethiopia and the World Economy 5.12 Never Again: The Saga of the Rosenfelders Making Modern Markets 6.1 Silver and Gold in Mexico and Brazil 6.2 Weighing the World: The Metric Revolution 6.3 From Court Bankers to Architects of the Modern World Market: The Rothschilds 6.4 Grain Goes Global—​and the Globe Makes “Grain” 6.5 How Time Got That Way 6.6 How the United States Joined the Big Leagues 6.7 Clubs, Casinos, and Collapses: Sovereign Debt and Risk Management Since 1820 6.8 Fresher Is Not Better 6.9 Packaging 6.10 Trademarks: What’s in a Name? 6.11 Learning to Feel Unclean: A Global Marketing Tale 6.12 Chewing on Global History: Wrigley, Adams, and the Yucatán 6.13 Things Go Better with Red, White, and Blue: How Coca-​Cola Conquered Europe 6.14 Survival of the First 6.15 It Ain’t Necessarily So 6.16 Location, Location, Location: How History Trumped Geography in Andorra and Panama 155 159 162 170 172 176 178 181 184 186 188 191 193 195 199 203 208 213 216 219 225 227 229 233 234 236 239 242 247 249 250 252 332 332  | Index canned food 233–​4, 250–​1 Capital cities 63 capitalism 93, 162, 199, 218, 268, 313; cultural contradictions of 316 Cárdenas, Lázaro 246, 295–​6 Caribbean: buccaneers in 190; Columbus’s voyages, 65; European diseases in, 164; piracy in, 166; Rastafari movement, 195; sugar plantations in, 191, 192, 272; see also Haiti Carson, Kit 133 cartazes 23 Caruso, Enrico 130 las Casas, Bartolomé 108 cash crops 79 “Caste War” 243, 246 Catholicism and the Catholic Church 99, 135–​6, 180, 295 cattle industry, in Argentina 146–​9 “century of peace” (1815–​1914) 162, 167, 317 Cerro Rico 172, 175 Ceuta 171 Ceylon 89 chaos theory 149 Charlemagne 252 Charles I 109 Charles II King of England 93 chartered companies handling warfare and trading 163; see also East India Company Chávez, Hugo 297 Chen Youding 29 chewing gum 5, 170, 207, 242–​7 Chicago 149; Board of Trade (CBT) 224; World Fair (1893) 242, 247 chicle 243–​7 child labor 276 Chile 133–​4, 143, 175, 318 China and the Chinese 3, 6–​9, 14–​20, 25–​7, 30, 48, 58–​61, 67–​8, 76, 88–​9, 99–​106, 110–​11, 121–​5, 133–​4, 144–​5, 151–​3, 165–​7, 184–​6, 192, 206, 222, 225–​6, 266, 273–​8, 286–​7, 300–​5, 308, 311–​13, 316, 319–​21; cotton trade 151, 184, 277–​9; currency system in, 17, 18; economic growth of, 310; geoduck trade, 125; Marco Polo’s account of, 28; New World crops in, 153; in Opium War, 16, 73, 103; overseas settlement opposed by, 15; peanut trade, 124; Quanzhou trade port, 26–​30; rice trade, 28, 220, 273; sandalwood trade, 184; Shanghai trade port, 73–​5; shipbuilding, 58–​61; sugar trade, 98, 98; Taiping Rebellion, 74; tea trade, 88–​9, 122, 184, 186; textile industry in, 277–​8; trade diaspora in, 13–​15; treasure ships of, 58–​61; treaty ports, 73; tribute system in, 3, 9, 15–​18; U.S trade with, 134; warfare in, 82, 163; water resources in, 321–​2 Chincha islands 142 Chinese migration: to Manchuria 67–​8; to Taiwan, 67–​8; to United States, 131 chocolate 1, 3, 83–​7, 159 chocolate drinking 84, 87 Christianity 196 Churchill, Winston 309 cigarettes 110–​15 cigars 113–​15 cities: capitals 63; limitations on size of 63 city-​states 9 Civil War (US) 279, 281 Clapham, J.H. 258 class conflict 152 clean energy technology 314 Cleanliness Institute 241–​2 Cleveland, Grover 146 climate change 28, 128, 320 coal energy 291 coca and cocaine 84, 115–​18, 175 Coca-​Cola 117, 170, 207, 239, 245–​9 cocaine 84, 104, 115–​18 cochineal trade 121, 138–​41 Cochrane, Josephine 251 cocoa trade 123, 156–​8 Coen, Jan Pieterszon 187–​8 coercion in trading relationships 162–​3, 166, 173, 259, 310 coffee 35–​7, 79–​80, 82–​7, 90–​5, 108–​10, 117–​18, 121, 124, 127–​8, 134, 167, 181, 198–​9 coffeehouses 83, 85, 90–​4, 109–​10, 112, 181, 205 coffee trade: in Brazil 35–​7, 95–​6; and café culture, 91, 93, 94; and commodification, 94; in Ethiopia, 94, 198–​9; in Haiti, 35, 95; and medicinal value, 93; in Mexico, 80, 82; monopoly in, 92, 121; and popular consumption, 94–​5; slavery in, 95–​6; transportation in, 79, 91, 134; in Yemen 91, 92 333 Index  |  333 coinage 18–​20, 134, 165, 204, 208–​9 Cold War 248 collective goods 315–​16 Colombia 55, 86, 117, 153, 214, 255–​6, 309–​10, 319 colonialism 12–​15, 82, 92, 101, 106, 117, 122, 127–​9, 140, 156, 163–​4, 171–​2, 176, 193–​9, 223, 227, 266, 268, 279, 286, 290; “enlightened” 159; internal 198; resistance to 196–​7 Columbus, Christopher 20, 26, 31, 59–​63, 86, 97, 106–​11, 121, 138, 242, 272 comissários 36 commercial law 39 commodification 84–​7, 204–​7, 312, 315, 321; and anthropocentric view, 207; coffee, 94; defined, 205; of drug foods, 81; expansion of, 318, 321; and futures market, 204–​5; of grain market, 204–​5; resistance to, 319; and transportation, 58 “commodity curse” 137 “commodity fetishism” 204 commodity markets 58, 149, 235 commodity production 4–​5, 56–​8, 77, 127, 198, 215 commodity trade 119–​61; and agricultural mechanization, 150–​1; bioengineered plants, 125; and gold rush, 120, 134–​5; labor theory of value, 124–​5; and measurement systems, 203; modern: hygiene products, 207, 239, 241; packaged goods, 234–​6; prepared foods, 233–​4; and refrigeration, 147, 233; store brands, 304–​6; trademarks, 206, 236–​9; see also marketing; new commodities, 120–​1; cochineal, 121; guano, 120, 124–​5, 142–​4; and standardization, 125–​6; and technological bottlenecks, 123–​4, 260; transplanting crops, 121–​2; cotton, 151–​2; potato, 152–​5; rubber, 121–​2, 159–​61; value and meaning of, 119; see also drug foods; specific commodities communism 77, 152 companies and corporate status 48, 166, 186–​8, 205, 218–​19, 228, 237–​9; see also chartered companies comparative advantage 162 concentration ratios 304 conflict resolution 11, 40 Congo, slavery in 195 Conrad, Joseph 171 conservation 128 conspicuous consumption 46 consumer culture 249 consumerism 315 consumption of drug foods 81, 84, 93–​5, 111; financial tools for, 313; growth of, 310, 312; and industrial policies, 314; of packaged food, 234–​6; of prepared food, 233–​4; of technologies, 314; and trademarks, 236–​9; see also marketing conventions of trade 11, 13 Cook, Captain 144 “coolie trade” 192 copper mining 260, 264 Coromandel 281 corporate raiders 188, 191 corporations and brand names 238–​9; foreign investment, 227; joint stock companies (East India Companies), 9, 44, 176, 205; mergers, 226; origins of, 187; raiders, 188–​91; stock investment, 205–​6; trademarks, 206 Cortés, Hernán 31, 135, 139 corvée system 173 Costa Rica 31, 87, 134 Cote d’Ivoire 159 cotton 30, 45, 121–​4, 151–​2, 184, 259–​60, 277–​81 cotton trade: in China 151, 184, 277–​81; ecological cost of, 278–​9; rival fibers to, 124, 260; supply and demand in, 120, 259–​60; technological innovation, 121, 277–​81; technology transfer, 151–​2; see also textile industry “country traditions” 73 Cox, Archibald Jr. 302 Cozumel 31 craft tradition 265 credit card fraud 254 credit-​rating agencies (CRAs) 230–​2 Cruz, Ted 208 Cuba 35–​6, 48, 106–​8, 147, 192 cultural orientations 322 culture: and coca trade 87, 122–​3; and coffee drinking, 92–​6; and globalization, 310, 312; and tea drinking, 88–​90; transportation impact on, 57–​8 334 334  | Index currency: bimetalism 210–​12; dollar, 209, 212; drug foods as, 83; electronic exchanges, 208; famine, 18; functions of, 17–​18; gold standard, 204, 208–​13, 218; local coins, 20; paper, 17–​20, 30; silver standard, 203, 204; and tribute system, 15–​18; value of, 204 Curtin, Philip 44 customary law 40–​1, 77 Cuzco 175 cycle of boom and bust 124 Darjeeling 90 Day, Ashutosh 50 Dean, Warren 126, 128 debt peonage 79, 150 Deepwater Horizon oil spill (2010) 320 Deere, John 220–​1 Defoe, Daniel 125, 181–​4, 282 deforestation 153; in Brazil 127–​8 deindustrialization 266–​7 Delhi 64 demand management 314 desalination 322 Desmoulins, Camille 94 Deterding, Henry 294 DeVos, Betsy 309 deVries, Jan 273 Dias, Bartholomeu 62 diasporas, trade 9, 11–​15, 44 Diáz, Bernal 31 Díaz, Porfirio 246, 294 Dickens, Charles 244–​5 disease 172 dishwashers 251 division of labor 54, 124, 163, 268 Djibouti 198 Doheny, Edward 294 Dole, Sanford 146 dollar currency 212, 229, 232, 256 domesticated animals 127 Drake, Edwin L. 294 Drake, Sir Francis 166, 176, 178, 189, 255 drug trade 310; cocaine, 84, 104; marijuana, 84; outlaw drugs, 81, 83–​4; recreational drugs, 81; see also opium trade drugs and drug foods 4, 81–​9, 100–​6, 181, 273–​4, 310; cacao, 86–​7; changing views of 81–​4, 118; coca, 115–​117; commodification of 84–​7; and cultural identity, 84; definition of 81; as money, 50, 84, 87; and moral scruples, 85; New World production of, 88; popularization of, 82–​4; tea, 88–​90, 122; see also coffee trade; sugar trade Dubai 309 Duke, James 111–​12 Dulles, John Foster 305 Dunlop, John 129 Dutch colonialism 127, 136–​8, 163, 166, 177 “Dutch disease” 137, 143 Dutch East India Company 9, 37–​42, 91, 186–​8, 281 Dutch East India Company: charter of 187–​8; coffee trade, 92; as corporation, 9, 186–​8; intermarriage in, 9, 37; monopoly of, 40, 70–​1; protection costs of, 188; and tax farmers, 42 Dutch East Indies 58, 70, 75, 102, 160; Acheh War, 75; Chinese migrants in, 76; European trekkers (sojourners) in, 76; Islamic modernist movement in, 77; Java, 69, 75–​6; racial exclusiveness in, 76; rubber trade, 159; transportation, women merchants in, 37 dyewood see brazilwood East India Company, Dutch 9, 37–​42, 91, 186–​8, 281 East India Company, English 9, 43, 48–​51, 69–​73, 91, 93, 104, 176, 184, 186, 188, 259–​60, 283; business costs of, 49; China trade, 184–​5; and coffee trade, 94–​5; as corporation, 48, 186–​8; in Dutch East Indies, 75; expense accounts in, 48–​50; financier merchants, 50–​2; intermarriage in, 37; investments of, 50, 176; local government relations, 9, 58; map of settlements 72; monopoly of, 49, 70–​1, 186–​7; and opium trade, 105; organizational form of, 48; protection costs of, 188; Raffles’ role in, 68–​73; ruling style of, 69, 71; Singapore, 12, 27, 71, 73; and tax farmers, 43; in textile trade, 259, 279; trading posts of, 49, 176 Eastern Tobacco 114–​15 economic growth 210, 319, 321 ecosystems 119, 124, 315; see also environment 335 Index  |  335 Edo 64 Egypt 112–​15, 298; cotton trade in 279–​80 El Dorado 5, 120, 135–​7 elephants, uses of 46–​8 Elgin, Lord 191 Elizabeth I, Queen of England 135, 166, 179–​80 El Salvador 203 emporia 55, 175 energy: forms of 320; increasing use of 311 energy conservation 293 energy transitions 291 Engels, Friedrich 316 England see Britain; East India Company entrepôts 9, 60, 70–​1 environment and biodiversity 124, 126; clean energy technologies, 314; and commodification, 315; and cotton cultivation, 277; deforestation, 127–​8, 153; and globalization, 308, 310, 320–​1; value in nature, 125; water resources, 321 epidemic diseases 172 Eritrea 198–​9 Essex, Earl of 179–​80 ethanol 322 Ethiopia 167, 195–​9; ancient civilization of, 195–​6; coffee trade, 92, 94; resistance to colonialism, 195–​9 ethnic communities: in Dutch East Indies 39; trade diasporas, 9, 10–​11 ethnic groups 39, 169–​70, 200 Euro currency 318 Eurocentrism 2–​3, 167 European diseases 110, 164, 172 European Union (EU) 50, 254, 317–​18 exchange value of goods 7 exotic fish, insects and plants 311 expense accounts, in East India Company 48–​9 expressive ends served by trade 7 Facebook 315 factories 258–​9, 267–​9, 277; definitions of 268 “fair trade” 159, 304–​5 Fair trade laws 303–​6 Fairbank, John King 103 family relationships 8, 14–​15, 186, 200 Farben (IG) 161 fashion 46–​7 Ferdinand, King of Castile 62 Ferguson, Niall 217 Fertile Crescent 120 fertilizers 125, 143–​4, 158, 160 feudalism 198–​9 financier-​merchants 50–​1 financiers 166–​7, 188, 206, 217, 230 Firestone, Harvey 160 Flandreau, Marc 230 flax 124, 260, 278 Fleer gum company 246 Flemish tapestries 138 Fletcher, Horace 244 fluitschips 56, 177 food, long-​distance trade in 233–​4 food-​buying power of workers’ earnings 272–​3 foods packaging 206, 234–​6; prepared/​branded, 234–​6; refrigerated transport of, 147; see also drug foods forced labor 157–​9, 192–​3 Ford, Henry 122, 160 Foxconn (company) 306 France: in coffee trade 91, 93; and European Union, 317; in Haiti, 98–​9; measurement system of, 213, 214, 227; Napoleonic Wars, 70, 167; privateering, 190; technology transfer, 265; time zones in, 227 Frankfurt am Main 216 Franklin, Benjamin 67 Frederick the Great 93, 109, 155 free trade 69–​70, 73, 81–​2, 100–​5, 191, 208, 218–​21, 258, 262, 282, 314, 317 freight rates 57, 66, 75–​9, 142, 147, 212, 220 French Revolution 68, 94–​6, 113, 155, 216–​17 Freud, Sigmund 117 frigoríficos 147 Frobisher, Martin 178 Fujian Quanzhou port 26–​30; trade diaspora, 13–​15 Fujian trade diaspora 13–​15 Fur trade 200 futures markets 205, 224–​5, 311 Gama,Vasco da 272, 281 gas mantles 301 gasoline 293 336 336  | Index Gates, Bill 313 gauchos (cowboys) 120, 146–​8 Genghis Khan 24 geoduck trade 125 George V 114 Germany: coca trade 117; on gold standard, 212; industrialization, 266; Jewish merchants in, 200–​1; Nazi race policy, 170, 201; potato trade, 155; rubber trade, 122 Ghosh, Ram Gopal 46 giving 8, 316 global economy: Andorra in 208, 252–​4; Asia as center of, 20–​3; banks and banking, 206; and California gold rush, 132–​5; and currency, 209; and grain trade, 219–​25; and industrialization, 270–​1; interdependence of, 317; and opium trade, 103–​6; Panama in, 208, 254–​7; prices in, 204; and silver trade, 116; slavery in, 169; and transportation, 57–​8, 204; U.S role in, 227–​9; see also modern markets; technology transfer global warming see climate change globalization 2, 307–​10, 316–​20; and commodification, 315, 318, 321; cultural impact of, 310, 315–​16; defining, 308; and economic growth, 319–​20; environmental impact of, 311, 315; and inequality, 312–​13; and population growth, 319; and property rights, 311–​12; pros and cons of, 312; resistance to, 319–​20; what it is not 308 Goa 46–​7 “going native” 11, 34 Golconda 41–​3 gold 87, 104, 203–​4, 208–​13, 222–​3 gold rush: in Brazil 208–​13; Californian (1849) 14, 106, 120, 132–​5, 144, 211, 255 gold standard 204, 208–​13, 218 gold trade 208–​13 Goldwyn, Samuel 212 Gómez,Vicente 296 Goodyear, Charles 129, 243–​4 Gootenberg, Paul 143 government deficits 314 government, lending to 167; see also bond markets government revenue 99–​102, 115 grading of commodities 56 grain: growing of 149; international market in 5, 204–​5, 219–​21, 225 grain elevators 57, 77, 224 grain riots 63 grain trade: futures market 204, 219; international, 204–​5, 219–​25; rice, 21, 30, 204, 225; transportation, 177, 219; wheat market, 149–​50, 155, 221–​5 Great Britain see Britain Great Silk Road 54 Greece: ancient 7; debt default in, 231; modern 231 Greenwich mean time 227 Guangzhou 26–​7 guano trade 120, 125, 142–​4, 204 Guatemala 134, 139, 141, 310 Guiana 120–​1, 135–​8, 166 Gujarat 5, 44–​8, 281–​2 Gustav III King of Sweden 93 habilitacion 79 Haile Selassie 195–​9 Haiti 35, 95–​9, 121, 138; coffee trade in, 35, 95; sugar trade in, 95–​6, 99 Hamilton, Alexander 101 Han Yu 27 handicraft industry 266–​7, 276 Harriman, E.H. 228 Harris, John 264 Harrison, Benjamin 145 Hawaii 131, 134–​5, 144–​5; annexation of, 145–​6; sugar trade in, 121, 144–​6 Hawkins, John 189 Hayami, Akira 273 Haykluyt, Richard 180 health issues 127–​9 Heart of Darkness (Conrad) 171 Heine, Heinrich 217, 219 Hemming, John 34 henequen trade 150 Henry, Prince of Portugal (The Navigator) 26 Herodotus 112, 196 Hinduism 26–​30, 44 Hispaniola 190 Hitler, Adolf 248 Hochschild, Adam 193 holidays, reduction in 275–​6 337 Index  |  337 Holland see Dutch East Indies; Netherlands, the Holy Roman Empire 216 Homer 196 honesty, enforcing of 12 honey 96 Hong Kong 102 Hormuz, Portuguese fort at 21 horses, trade in 41–​2 Huancavelica, Peru 173 human capital 125 human nature 7 Human traffickers, 123, 159 Hungary 221 Hunt, Shane 143 Hunter gatherers, in Brazil 48, 126 hybrid engines (using coal or oil) 292–​3 hygiene products 207, 239, 241 Ibn Battuta 26, 28 Ibn Sa’ud 298 Iloilo 284–​5 Immigration, Chinese, 68, 73 Inca civilization 8, 116, 119, 135, 142, 165, 171–​3 indentured servants 12, 137–​8, 143, 165, 192 India 50, 102, 105–​6, 192, 222, 225, 259–​62, 266, 277–​9, 282–​3, 286–​7 India: cotton trade 277–​9; financier merchants, 50–​2; Mughal Empire, 42, 50–​1, 64; opium trade, 103–​6; peanut trade, 124; railroads in, 77–​92, 85; rice trade, 222; Sepoy Mutiny, 167, 280; tea trade, 90, 93, 122; textile industry in, 259, 277–​9, 279–​81; trade surplus of, 105; see also East India Company “Indian givers” 8, 33 Indian Ocean trading ports and cities (map) 10 Indian princes 9 indigo trade 52 Indonesia see Dutch East Indies industrial policies of governments 314 Industrial Revolution 167, 193, 209, 235, 258, 277, 283, 290, 294 industrialization 4, 106, 258–​61, 263–​8; and agricultural exports, 261–​3; capital needs of, 186; in colonial New England, 266, 289–​90; and cotton cultivation, 277–​81; deindustrialization, 266–​7; economic conditions for 261; and energy transitions, 291; and fair trade laws, 303–​6; and free trade, 262; and ivory trade, 193; offshore manufacturing, 303–​6; origins of, 252; and slavery, 268; sugar plantations, 263; textile industry, 259–​60; and violence, 167, 169; see also oil industry; technology transfer; textile industry “industriousness” 5, 181, 276 inequality 312–​13 information technology 318 Inner Mongolia 208, 301 integration of the world economy 204 intellectual property 206 intensification of work 275–​7 intermarriage 9, 27, 37 internal combustion engine 291–​3 International African Association 193 International Harvester (company) 150 International Monetary Fund 17, 218, 230 internet, the 208, 252, 254, 308, 310 inventions 2, 6, 53, 94, 149–​50, 170, 180, 204–​7, 227, 235, 238, 250–​1, 261, 265, 278, 311, 313 investment 227–​8; in India 50, 52; in war 167 investment bonds 205–​6, 229–​33; buccaneer ventures, 190; corporate stocks, 205; Dutch East India Company, 75, 188; East India Company (British), 50–​2, 176; foreign, 206, 213, 227; market conventions, 50–​2; of Rothschild bank, 213, 216–​19; in warfare, 167 Ireland 154–​5 Isabel, Queen of Castile 61–​2 Islam 11, 20, 40, 76–​7, 297–​8; caliphate of 20–​1; and coffee drinking, 90; legal codes of, 40; modernist movement of, 76; Wahhabi sect, 297 Istanbul 64 Italy 109, 179, 200, 214–​17, 221; in Ethiopia, 195, 198; measurement system, 214–​15 ivory trade 46–​8, 193–​5 Jamaica 35–​6, 179 James I 109 Japan 134–​5, 161, 222, 262–​3, 266, 274–​8, 338 338  | Index 286–​9, 305, 313; coca trade, 117; Dutch East India Company in, 37; industrialization, 262–​3, 286–​7; rice trade, 288; rubber trade, 122; silk trade, 263, 288; in Southeast Asia, 160; sugar trade, 96, 274; tea trade, 88–​9; textile industry in, 286; U.S trade with, 134–​5 Java 69, 75, 84, 89 Jesuits 87 Jewish communities 179, 200–​1, 216–​17; see also anti-​Semitism Jews: anti–​Semitism 218–​19; in fur trade, 200; merchants in Asia, 26; Nazi persecution of, 201; Rothschilds, 213, 216–​19 Joäo VI, King of Portugal 96, 210, 212 joint stock companies 205–​6; see also Dutch East India Company; East Indian Company (British) Jones, Paul 189 Jonson, Ben 180 ‘just price’concept 8 Kalakaua, King of Hawaii 145 kerosene 291–​4 Kew Gardens 128 kidnapping 21, 165 Kok saghyz 160 Krugman, Paul 314 Kublai Khan 25 Kuhn, Loeband and Co. 228–​9 Kula, Witold 215 Kwakiutl people of Pacific North-​west 8 labor, division of 54, 128, 163, 268 labor force: contract labor 148, 309; corvée system, 173; cotton cultivation, 139–​41; debt peonage, 79, 150; and deindustrialization, 262; emancipated slaves, 191–​3; forced labor, 157–​9; gauchos (cowboys), 120, 146–​9, 148; and human traffickers, 123, 159; immigrant, 122; indentured servants, 12, 165, 191–​3; Indian, 116, 129, 165, 172; manufacturing vs retail, 266–​7; pawned labor, 158; sugar plantations, 191–​3; textile industry, 282, 284, 286; women in, 251, 274, 276; see also Slavery labor theory of value 124–​5, 190 LaCroix family 113 land companies 149 land taxes 99 land transportation 53–​4 Lane, Frederic 163 Latin America 4, 40, 50, 66, 78, 83, 90, 94, 117, 138, 140, 143, 145, 165, 210, 212, 230–​1, 248, 259, 281, 310, 316; coca chewing in, 83, 117; cochineal trade, 139–​41; oil industry, 293–​7; silver mining see Potosí; U.S investment in, 230, 248; see also Mesoamerican trade; specific countries League of Nations 160, 195 legal culture, in Southeast Asia 9, 39–​41 Lei Feng 316 Leipzig Trade Fair 200 Leopold II, King of Belgium 193–​5 Lery, Jean 33 letters of marque 189 Liberia 160 Liebig, Justus von 142 life expectancy 311, 319–​20 Liliuokalani, Queen of Hawaii 145–​6 Lin Zexu 103 Linnaeus, Carolus 108 Listerine 241 Lloyd’s 93 loans 35, 45–​6, 137, 205, 210–​11, 218, 229–​31, 315 local institutions 308 local studies 2 Locke, John 125 Logan, Utah 134 London 63 Loney, Nicholas 263, 283–​4 López, Antonio 242 Louis XIV 92 Louis Napoleon, President 133 Luxemburg, Rosa 219 Lyman, William W. 251 McClellan, David 199 McCormick, Cyrus 123, 149, 220–​1 McDonald’s 316 Machado, Pedro 46–​7 Macintosh, Charles 129 McKinley, William 146 339 Index  |  339 Madrid 63 maize 153 Malacca, Portuguese fort at 70 malaria 127–​9, 160, 172, 284 Malay language 76 Malaya (Malaysia) 70, 90, 102, 122, 128, 159, 161 Mali 159 Malthus, Thomas 154 Manaus (Brazil), rubber trade in 130 Manchester 121 Manchuria, migration to 67 Mandeville, John 23 Marichal, Carlos 209 marijuana 84–​5 market conventions, making of 7–​52; accumulation, 4, 32–​4, 162; Aztec traders, 30–​2; exchange of goods, 7, 31, 33; expense accounts, 48–​50; financier merchants, 50–​2; investment, 50–​2; and Islamic caliphate, 20; legal culture in, 39–​41; long-​distance trade, 4, 8–​9, 20; Marco Polo’s account of, 23–​4, 26; marriage alliances, 9; money supply, 20; port cities, 12, 26, 45–​6, 55, 60; and Portuguese empire, 21, 22; profit maximization, 13, 17, 49; reciprocity, 8, 34; supply and demand, 3, 7–​8; tax farmers, 9, 41–​3; trade diasporas, 5, 9, 11, 12, 13–​15, 44; tribute system, 3, 9, 15–​18; women traders, 38 “market imperfections” 257 marketing: brand names 234, 247, 305; Coca-​ Cola in Europe, 207, 247–​9; hygiene products, 207, 239–​42; and packaging, 206, 234–​6; resistance to commodification, 315; store brands, 304–​6 markets: benefits from 162; history of 7–​8; social construction of 2 “maroon communities” 138 marriage 9–​11, 37, 49, 76, 276 marriage alliances 9–​10 Marshall, James 132–​3, 135 Marshall Plan 115, 248, 293 Marx, Karl 85, 103, 204, 219, 268, 272, 313, 316 Marxism 125 Mary I, Queen 135–​6 Massachusetts 94, 289 Mauritius 47 Maximilian, Emperor of Mexico 205 Mayan civilization 8, 31–​2, 54, 79–​80, 86, 129, 139, 150, 207, 247 Mayas: and cacao 86; in debt peonage, 79, 150; pack trains of, 54; rubber production, 129; trade of, 8, 31 measurement systems see weights and measures meat consumption 273 Medellin drug cartel 104 Melaka 21–​3 Menelik I, King 196 Menelik II, Emperor 196–​9 mercantilism and mercantile companies 165, 208 mercenaries 194, 309 merchant-​sailors 66 merchants, role of 163 de la Merveille, Godofroy 90–​2 Mesoamerican trade 31, 54 metric measurement 213–​15 Metternich, Prince 217 Mexico 205, 208–​13, 228–​9, 242–​6, 294–​7, 322; cacao trade, 86, 87; coffee trade, 79–​80; currency system of, 204, 208–​13; foreign investment in, 206, 213, 227–​9; henequen trade, 150; industrialization in, 263, 291; market economy in, 322; oil industry in, 291–​2, 294; and Sutter’s settlement, 133; see also Aztecs; Mayas Michael, Ras 197 Middle East 28–​32, 41, 50, 58, 60, 70, 76, 82–​3, 88, 90, 93, 96, 109–​10, 115, 164, 168, 176, 187, 209, 272, 279, 293–​6, 299, 310, 316, 318, 322; coffee trade (Yemen), 84, 90, 92, 94; cotton trade, 279; oil industry in, 293–​4, 296, 299; rise of Saudi Arabia, 263, 297–​300; slavery in, 168; Suez Canal, 58, 75; sugar trade, 110; tax farmers from, 41–​3; see also Islam migration 66–​8, 76, 122, 158, 170, 220–​3 military power 13, 49, 99, 120–​1, 131, 155, 163–​4, 167, 194, 197, 319 Ming dynasty 29–​30, 59–​60 minimum retail prices, setting of 304 340 340  | Index Minneapolis 220 mita, the 173–​4 Mixtecs 139 Mocha (Yemen) 45–​6, 56, 84, 90–​2, 237 Moctezuma, Emperor 86, 107 modern markets 203–​57; bonds, 205–​6, 229–​33; commodity see commodity trade modern credit-​rating agencies (CRAs) 231–​2; currency system, 203–​4, 208–​13; foreign investment, 213, 219, 227–​8; loans, 205, 211, 213, 218, 229; risk management in, 229–​33; and standardization, 203; time zones in, 205–​6, 226; violence in, 167; weights and measures, 204, 213–​15; see also banks; global economy; industrialization MolyCorp 303 money 9, 32, 42; commodities used as 47, 83, 87, 140, 197, 203; functions of 18; paper form of 16–​20, 25, 28, 30, 208, 210; see also coinage money changing 216 money laundering 312 money supply 120 Mongol Empire 25, 28–​9, 163 ‘Monkey King’ (Sun Wukong) 30 monopolies 8, 38, 49, 70–​3, 88–​93, 99, 102, 108, 114, 117, 122, 141–​5, 163, 166, 186–​8, 250, 261, 303; natural 82–​3 monsoon winds 9, 28, 42, 55, 60, 66, 70, 149, 283 Moody’s 230–​2 moral economy 322 moral scruples 85 More, Thomas 136 Moreno Fraginals, Manuel 268 Morgan, Henry 255 Morgan, J.P. 228–​32 motor industry 304, 314 Mozambique 46–​8 Mughal Empire 42–​3, 50–​1, 64 Muscovy Company 187 Nanjing Treaty 103 Naples 154, 159 Napoleon 96, 131, 217–​18 Napoleon III 211 Napoleonic Wars 56, 69, 100, 167 nationalism 199, 226, 247, 295–​8, 318 nationalization 296 native populations 129 nature, valuing of 125 Nauru 312 Nazi Germany 201 necessity as mother of invention 252 neoliberalism 315, 317 Netherlands, the 54; see also Dutch colonialism; Dutch East India Company; Dutch East Indies networks: commercial 9, 44; cross-​cultural 4 New England 266, 289–​90 New World crops 153 New York 136–​7, 206 Nicaragua 8, 31, 134–​5 Nicot, Jean 108 Nigeria 159, 233, 310 nitrate fertilizer 143–​4 Nixon, Edward 302 Nobel, Ludwig and Robert 292 Noriega, Manuel 256 Occupy Wall Street movement 313 oil, supply and use of 6, 120, 260, 263, 291–​300 oil-​based bombs 24 Oil for the Lamps of China 291 oil industry: deepwater drilling 320; gasoline, 293; in Mexico, 293–​7; in Middle East, 279, 299; in Russia, 292, 293; state monopoly in, 296; transition to oil energy, 291–​3; in United States, 293–​7; in Venezuela, 294 oil prices and revenues 161, 309, 312 Olmecs 86 Olympic Games (Helsinki, 1952) 248 Oostindie, Gert 137 opium trade and the Opium War 16, 20, 73–​4, 84–​5, 89, 101–​6, 113, 122, 151–​2, 184–​6; British tea imports, 184–​6; currency, 16; harmful consequences of, 84, 107; in Shanghai, 73–​4 ordeal, trial by 39–​40 Organization of African Unity 195 Organization of Petroleum Exporting Countries (OPEC) 232, 296 Osaka 285–​7 341 Index  |  341 Ottoman Empire 112–​14, 163–​4, 180, 297–​8 Ouetaca in Brazil 8, 33 outlaw commodities 81 outsourcing 318 pack train transport 54, 175 packaging 234–​8 Pampas, the 146–​8 Panama Canal 135, 255–​6 Panama and Panama City 208, 252, 254–​7 paper money 16, 20, 25, 28, 30, 208, 210 Paris 63 Parker, William 123 Parry, William 180 partnerships as a form of business organization 199–​200, 205 patents 264–​5, 290 pawning of people 157–​9 peace, advantages of 162 peanut trade 124 pearl diving 185 Pears’ soap 239–​41 Pearson, Weetman 294 “peasants” 223 Pedro I, Emperor of Brazil 212 Pemex (oil company) 295–​6 Pernambuco 136 Perry, Admiral 134 Pershing, John 295 Persia 180 personal contacts between traders 13 Peru 142–​4; coca trade in 116, 117–​18; cochineal trade, 141; guano trade, 142–​4; Incas, 8, 116, 135, 173; potato cultivation in, 153; shipping route, 134; Spanish conquest, 165 peso currency 209–​12, 228 petroleum 293–​5 petroleum-​based bombs 24 Philippines, the 175, 263, 283–​5 piracy 21, 27–​8, 56, 65, 70, 135, 137, 165–​6, 176–​80, 186–​91, 209, 255, 259, 310; buccaneers, 166, 188–​91; Caribbean, 209; in China, 27–​8; contemporary, 310; English privateers, 165–​6, 176; importance of 177; in naval warfare, 188; in Panama, 256; ransoms, 21; Sulu, 186; suppression of, 28, 65 Pittsburgh 226 Pizarro, Francisco 135 plague 28–​9 Pocahontas 109 pochteca caste 31 pollution 208, 293, 311–​12 Polo, Marco 23–​8 Polyani, Karl 317 Pomeranz, Kenneth (co-​author) 2, 4 poor white labor 165 popular culture 310 population growth 311 populism 128 port cities 55 port times (for turnaround of ships) 55, 65–​6 ports see trade ports Portugal and Portuguese 21–​3, 34–​5, 45–​7, 61, 97, 110, 126–​7, 136, 164–​5, 187; Asian Empire of, 21, 22; in Brazil, 34, 35, 97, 126–​7, 209; gold trade, 209; privateering, 187; ships of, 59; sugar trade, 97 Post, Emily 244–​5 potatoes 2–​3, 81, 107, 119–​20, 153–​5, 275; cultivation, 119–​20, 153–​5; use in Ireland 154–​5 Potosí 54, 116, 119, 172–​6; and coca trade, 116, 175; corvée system, 173; population of, 173–​4; and potato trade, 119; technological innovation in, 172; town center, 175; trade network, 175; transport, 175; violence in, 175 precious metals 208–​10, 213, 281; see also gold; silver Prester John 25, 196–​7 price, concept of 8 prices: cocoa 123, 158; coffee, 91, 95; fair trade laws, 304; gold and silver, 208; grain, 63, 204; guano, 143; labor theory of value, 124; market convention, 2; oil, 292–​3, 295, 299; rice, 204, 273; shipping rates, 54, 55, 65, 66, 75, 78; silk, 30; tea, 89; water, 321 “primitive accumulation” 162 Prince, Erik 309 privateers 176, 179, 190; see also piracy processed foods 234 profit maximization 13, 17, 49, 60, 219 Prohibition 101 property rights 311–​12 342 342  | Index protection of traders 163 protectionism 105, 259–​62 Pu Shougeng 28 Pure Food and Drug Act (1906) 234 Qing dynasty 60, 64, 67–​8, 74 Quanzhou, Fujian port of 26–​30 Quetaca people 33, 203 Quintana Roo 245–​7 Quran, the 109 racism 39, 49, 74, 76, 145, 156, 200–​1, 295; anti-​Semitism, 218–​19; in Dutch East Indies, 76; in East India Company (British), 49; and intermarriage, 37; Nazi policies, 170, 201; and toleration of forced labor, 156; transportation impact on, 58; see also slavery Raffles, Stamford 12, 45, 68–​73 railroads 52, 57, 77–​80, 124, 128, 134, 147, 149, 187–​8, 198, 204–​5, 220, 224, 226, 235, 249, 255, 266, 285–​6; and grain transport, 57, 224; in India, 77–​9, 266, 279; refrigerated railcars, 147; steam power, 57–​8; technology transfer, 265; and time zones, 204–​5, 226; track standardization, 249–​50; transcontinental (U.S.), 134, 255 Raleigh, Sir Walter 5, 120, 135–​7, 166 rare earths 6, 170, 208, 260, 300–​3 Rastafari movement 195 rationality, economic 7, 60–​1, 162, 316 reaper-​binders 149 recession (2007–​8) 208, 312–​13 reciprocity 8 Redclift, Michael 242 redwood trees 125 refrigeration 147, 234 remittances 51, 106 renewable energy 320 reputation in business 12, 205 retailing 75, 303–​4 Reunion 47 Reynolds, Malvina 253 Ricardo, David 125, 162, 262 rice trade 29–​30, 119, 204, 221–​5, 288 riots 63, 282 Roberts, Bartholomew 191 Robespierre, Maximilien 217 Robinson Crusoe 34, 125, 166, 181–​4, 282 Rockefeller, John D 237–​8, 293 Rockefeller, William 228 Rogger, Gustav 201 Rolfe, John 109 Roosevelt, Franklin D. 309 Roosevelt, Theodore 256 Roque, Jean de la, 91, 92, 93 Rosenfelder und Sohn 200–​2 Rothschild’s bank 216–​19, 230, 232 Royal Navy 166, 178, 185–​6, 190, 259, 298 rubber trade 121–​4, 129–​30, 151, 159–​61, 243–​4; Indian labor in, 129; supply and demand, 122, 129, 159–​61; synthetic, 161; technological innovation in, 122, 159–​61; transplantation of, 121–​2, 129–​30, 159–​61 “rules of the game” 39 Rus, Jan 79 Russia 155, 220, 223, 278, 292–​5, 317; currency in, 203; oil industry in, 292, 293, 295; potato cultivation in, 155 Sa, Salvador da 127 Sacramento and the Sacramento River 131–​2, 144 Saint-​Laurent,Yves 17 Salt, Henry 197 Samsung (company) 306 San Francisco 133 sandalwood trade 184 Santa Fe 130 Santa Maria 59 São Paulo 127, 226 São Tomé 97, 164, 171, 179–​80, 268 Sa’ud ibn ‘Abd al-​‘Aziz 297–​8 Sa’ud–​Wahhabi alliance 298 Saudi Arabia 297–​300, 309, 322 Scottish traders 55–​6, 66 “scramble for Africa” 195 Seal, Motilal 50 Selassie, Haile 195, 196, 197, 198, 199 self-​sufficiency 261–​2 Sepoy Mutiny in India (1857) 167, 280 September 11th 2001 attacks 317 seringueiros 129 Shakespeare, William 28, 180, 236, 239 shamans 107–​8 343 Index  |  343 Shandong 152 Shanghai 12, 26, 73–​5, 278, 285–​7 Sheba, Queen of 196 shipping and shipbuilding 54–​5, 60, 134, 220–​1, 256, 266, 290 ships and shipping: Chinese treasure ships 58–​61; in coffee trade, 80; Columbus’s voyages, 60; cost of, 53–​4, 55–​6, 65–​6, 75, 176–​7; navies, standing, 177; oil-​burning engines, 292; in Panama Canal, 135; Panama registry, 256; Portuguese, 61; from Shanghai, 73–​4; steam-​powered, 57–​8; in Suez Canal, 75; trans-​American trade, 134; transatlantic trade, 65–​6, 147; and wind patterns, 55, 60; see also piracy; trade ports Shirley, Anthony 5, 165, 178–​81 Shirley, Robert 180 Shirley, Thomas 179 Sholes, Christopher 251 shopping malls 304 Siam 17, 101–​2, 222–​3 silk trade and silk roads 17, 23–​4, 30, 54, 123, 262, 278, 282, 288 silting up of rivers and harbors 56, 127 Silva, Ignacio Lula da 297 silver 20, 87, 104, 134, 165, 172–​6, 203–​4, 208–​13, 218, 222, 228, 262; currency, 203–​4; mines in United States, 211; see also Potosí; ; prices, 211 “sin taxes” 5, 82, 100, 102, 113–​14 Sinclair, Upton 234 Singapore 12, 27, 56, 68–​73, 102–​3, 225 “slash-​and-​burn” agriculture 126–​7 slavery and the slave trade 34, 36, 47–​8, 61, 67, 69, 79, 85–​8, 95–​8, 109–​11, 121, 123, 127, 129, 136–​8, 150, 155–​7, 160, 164–​72, 182–​5, 191–​9, 210–​13, 259, 268–​72, 279, 281, 310; abolition of 191, 198–​9; within Africa 156–​7, 164, 171; in Brazil, 32–​6, 126, 212; in coffee cultivation, 95–​8; in cotton cultivation, 121; and drug food trade, 88; in global economy, 169; Haitian revolt, 121; Indian textiles as trade good, 273; Portuguese trade, 33, 34, 35, 163–​4; in Robinson Crusoe, 182; in rubber production, 121–​2, 160; in sugar cultivation, 42, 95, 97, 98–​101, 122, 169, 172; Sulu slave-​raiding, 185–​6; trade routes, 168–​9; transatlantic trade, 164; transition to free labor, 123, 155–​9; in United States, 95, 168; violence of, 169–​70, 193, 195; women involved in 192 smallpox 172 Smith, Adam 7, 54, 162, 262 Smith, John 95, 109 smoking 83, 100, 106–​10, 112–​13 smuggling 175 soap, marketing of 239–​42 social Darwinism 77, 206 social media 315 social mobility 274 socialism 218–​19 Soconusco 79 sojourners 14, 51, 76 solar panels 314 Somalia 20, 195–​8 Sombart, Werner 218 Song dynasty 27–​8 South Africa 308 Southeast Asia: rice trade in 222; see also Dutch East Indies sovereign defaults 230–​3 Soviet Union see Russia Spain: cacao trade 87–​8; cattle industry, 146; chocolate drinking in, 87; coca trade, 116; cochineal trade, 139; and Columbus’s voyages, 61–​2; conquest of New World, 104, 165, 172, 254; gold and silver trade, 104, 165, 209; and New World crops, 153, 155; and piracy, 189; privateering, 176, 179; and Sulu kingdom, 185 Spain and the Spanish Empire 165, 190, 209 specialization in production 124, 162, 262, 268–​9, 276 Spencer Rabbit Company 201 Speyer, James 228–​9 spice trade 45, 188 Spreckels, Claus 144–​6 Stalin, Josef 295, 309 Standard and Poor’s 230–​2 standardization 4, 17, 57–​8, 77, 203, 214, 224, 237–​8, 250; biological 125; of crops, 57–​8, 124–​5; of currency, 203–​4, 208–​13; in modern markets, 203; of railroad tracks, 249–​50; time zones, 204–​5, 226; weights and measures, 204, 213–​15 344 344  | Index state monopoly: in coffee trade 92; Dutch East India Company, 40, 70; East India Company (British), 70, 186; in guano trade, 143; in horse trading, 41–​2; market conventions, 8; in oil industry, 296; in sugar trade, 144; in tea trade, 93, 121–​2; and violence, 166 states, role and power of 308–​10 status bargaining 8 status symbols 17, 65, 122 steam shovels 57 steamships 57, 142, 147, 220, 235, 284 Stephenson, George 249 Stetson Hat Company 201 Stevens, Edwin 146 stock investment 205, 218 store brands 304–​6 Strasbourg 273 structural adjustment policies 309 subsidies 78, 314, 318 substitutes for scarce commodities, search for 121, 153 Suez Canal 58, 75–​6, 114, 138, 195, 212, 298 Suez crisis (1956) 115 sugar 83, 89, 95–​9, 121–​2, 144–​6, 164–​5, 171, 184, 191, 263, 268–​72, 284–​5 sugar trade: in China 104, 121; in Haiti, 97, 99; in Hawaii, 144–​6; and industrialization, 259, 268–​9; labor force, 191; in Philippines, 283, 285; and popular consumption, 90; slavery in, 95–​9, 121–​2, 164–​5, 171 Sukarno, Ahmed 77 Suleiman the Magnificent 163 Sulu, Sultanate of 185–​6 Sumatra 26, 75 sumptuary laws 275 Sun Wukong 30 supermarkets 234–​6 supply and demand 7–​8, 205 Supreme Court of the United States 38, 238, 304, 306 surveillance technology 308 “survival of the fittest” 206, 249 Sutter, John 130–​3, 135 Sutter’s Mill 132–​4 sweetness in food 96–​9, 121 swollen shoot syndrome 157 Sydenstricker, Pearl 151 syphilis 109 Tagore, Dwarkanath 50 Tagore, Rabindranath 52 Taiping Rebellion 74 Taiwan 67–​8; Chinese migration to 14, 67–​8; Dutch East India Company in, 37; offshore manufacturing, 305–​6; sugar trade, 121 Tang dynasty 27 tariffs 100–​1, 145, 221, 286 tax cuts 313 tax farmers 41–​3 tax holidays 253–​4 tax rates 314 taxation 99–​102, 108, 156; see also “sin taxes” tea trade 82–​4, 88–​90, 93, 95, 100, 104, 108, 122, 151, 184; in colonial America, 95; development of, 87–​90; monopoly in, 122; and popular culture, 82–​4 technological innovation: bottlenecks created by 123, 260; cattle industry, 146–​9; clean energy, 314; cochineal, 139–​40; consumption of, 314; cotton, 123, 277–​81; and environmental depredation, 128; fertilizers, 142, 144, 277, 278, 288; food preservation, 234; grain trade, 57, 149, 153, 221; green technology, 311, 320; and inventions, 207, 250–​2, 265; meat industry, 147; oil-​burning engines, 292; packaging, 206, 234–​6; railroads, 57–​8, 143, 249; refrigeration, 147, 233–​4; rubber, 121–​2, 159–​61; silver mining, 166; steam power, 57–​8; textile industry, 266; and warfare, 170; see also industrialization technology: diffusion of 261; innovation in 123–​4, 269; transfer of 264–​5 technology transfer: colonial 266; cotton cultivation, 139–​141; and cultural/​ organizational differences, 264; and patents, 262 Teixeira, Pedro 5, 181 Tenochtitlán 8, 31–​2 Teotihuacan 86 textile industry 284–​5, 305; in Britain, 259–​63, 266, 279; fiber crops for, 124, 245–​6, 258–​63; in India, 259, 277–​81; labor force, 282, 284, 286; in Philippines, 285; tariffs, 262; technological innovation, 266 345 Index  |  345 Tiawanaku 116 Tibet 321–​2 timber trade 21, 54, 59–​60, 63, 73–​4, 177, 184, 263, 287; sandalwood, 184; for shipbuilding, 58–​61 Time magazine 195 time zones 204–​5, 225–​6 “tipping points” for change 291, 320 Tlateloco 31 tobacco 5, 81–​5, 101, 106–​11, 113–​15, 153, 165, 244 Toer, Pramoedaya 39 Tokyo (Edo) 64 Toledo, Francisco de 172–​3 tomatoes 81, 107 Topik, Julia 2 Topik, Steven (co-​author) 2, 4 Tortuga 190 torture, use of 39–​40 track gauge for railroads 206–​7, 249–​50 trade ports: Atlantic 55; Guangzhou, 26; Quanzhou, 26–​30; Shanghai, 73–​5; ships’ time in, 65 trademarks 206, 237–​9 traffickers: in narcotics (narco traficantes) 117–​18; in people 159 transcontinental railroads 134 transoceanic cables 58 transportation 53–​80; and capital cities, 63; coffee, 92–​4; and commodification/​ globalization, 58; costs, 54–​5, 57, 212; cultural impact of, 57–​8; grain, 57, 177, 224; and immigration patterns, 66–​8; land vs water, 53; pack trains, 54, 175; and port cities, 55; steam power-​driven, 57–​8; and time zones, 204–​5; see also canals; railroads; ships and shipping “treasure ships”, Chinese 58–​60 Treaty of Nanjing 103 treaty ports 74 trekkers 76 tribute system 3, 9, 15–​18, 21, 32, 50–​1, 75, 86, 115–​16, 140 tribute system in China 5, 12–​15; in Java, 74; Mughal, 46 Trinidad 109 Trotsky, Leon 219 Trump, Donald 208, 309, 317 Tschopik, Kurt and Fred 201 Tupi people 33–​4, 126 Tupinamba people 8 Twitchell, Karl 298–​9 typewriter keyboards 207, 251–​2 underwriting 230–​3 United States: abolition of slavery 191; agricultural mechanization in, 150–​1; California gold rush, 14, 106, 120, 132–​5, 144, 211, 255; coca trade, 116; coffee trade, 94–​6; cotton trade, 121, 123, 277–​9; currency of, 210, 213; and fair trade laws, 304–​5; foreign investment in Mexico, 206, 227–​9; fuel sources in, 291; guano trade, 120; and Hawaii annexation, 145–​6; industrialization in colonial New England, 266, 289–​90; offshore manufacturing, 303–​6; oil energy in, 293–​7; oil industry, 291–​3; Panama Canal, 135, 256; railroads in, 134, 149, 249–​50; rubber trade, 122, 159–​61; silver mines in, 218; and slave trade, 67, 107, 160, 171; technology exports of, 150–​1; time zones in, 204–​5, 226–​7; trade protectionism in, 105; trans-​American trade, 134; transatlantic trade, 65–​6; warfare of, 170; westward expansion of, 65; wheat market, 150, 204, 220; see also modern markets Van Houten, Coenraad Johannes 87 Vasconcelos, José 296 Venetian trade 23–​6, 61, 93, 97, 163, 177, 277 Venezuela 296–​7 Venice 24, 26, 60, 96, 163, 179–​80, 277 Vietnam 20, 28, 60, 75, 102, 184, 220–​4 Villa, Pancho 295 vin de Mariani 117 violence 162–​202; and division of labor, 163; financing of, 167; and globalization, 310; and industrialization, 167, 169; in modern markets, 166; and Nazi racist policy, 170, 201; in Ottoman Empire, 163–​4; in Potosí silver mining, 175; and primitive accumulation, 162; protection costs, 188; of slavery, 156, 168–​9, 184, 191–​3; use of 4, 162–​9, 187; see also military power; piracy; warfare 346 346  | Index Virginia, State of 109, 112, 115, 135, 165–​6 Virginia Company 176 Voltaire 93, 136 wage labor 155–​8, 173, 192, 268, 272 Walker, William 135 Walmart (company) 303–​6, 313, 315 Walton family 313 Wang Dayuan 27 War of the Bavarian Succession (1778–​79) 155 War of the Pacific (1879–​83) 143–​4 warehouses and their managers 65–​6 warfare 42, 155, 161, 170; breaking out between 1851 and 1870 167; bringing people into contact with one another 170; financing of 166–​7; increasing cost of 163, 188 Washington, George 101 water resources 321 water transport 53 wealth, distribution of 313 Weber, Max 181 weights and measures, systems of 213–​15 welfare states 309–​10 Wellington, Duke of 217–​18 Wells, Allen 246 Welsbach, Carl Auer von 301 Welser family 135 West India Companies 136–​7, 186–​7 Westernization 310 wheat market 220–​5 “Whiskey Rebellion” 101 Whitney, Eli 280 Wickham, Henry 122, 128–​30 Wikileaks 317 Wilhelm, prince of Hesse-​Kassel 216–​17 Wilkins, Mira 237 Williams, Eric 97 wind systems 55, 60, 65–​6; women: commercial power of 37–​9; in cocoa trade, 157–​8; indentured servants, 192; intermarriage of, 37–​8; in labor force, 251; merchants, 37; in textile industry, 284; work done by 158, 276 wood 60 wood energy 291 wool 260, 278–​9 Woolson Spice Company 80 Woolworth’s (retail chain) 304 work ethic 315 working hours per year 276 working time needed to grow an acre of grain 277 World Bank 319 world systems analysis 2 World Trade (magazine) 2 World Trade Organization (WTO) 300, 318 World War I 201, 206, 213, 228 World War II 199 Wrigley, William 242–​6 xarquerias 147 Yangzi River 54, 73, 153 Yaqui Indians 150 Yemen 45–​6 Yohannes IV Emperor 197 Yuan dynasty 29 Yucatan peninsula 149–​50, 243–​5 Zheng family 15 ... author | Topik, Steven, author Title: The world that trade created : society, culture, and the world economy, 1400 to the present / Kenneth Pomeranz and Steven Topik Description: Fourth Edition. .. University ii iii The World That Trade Created Society, Culture, and the World Economy, 1400 to the Present Fourth Edition Kenneth Pomeranz and Steven Topik iv Fourth edition published 2018 by Routledge...i The World That Trade Created The World That Trade Created brings to life the history of trade and its actors In a series of brief, highly readable vignettes, filled with insights and amazing