Wednesday, January 23, 2013

Market Systems

As I understand history and economics, several cultures had market systems.


They had a market system or economy and it provided for a growing population. They had the rich and the poor. (That is until it all fell apart in the 18th century.)

Islamic Mideast

They had a market system or economy and it produced some very rich merchants. They had the rich and the poor. (It fell apart in the 19th century.)

Western Society

We have had a market system or economy for some time. It started in the Italian city states and then moved on Belgian and the Netherlands. It basically came to England with William of Orange. It provided for a growing population (in fact it seems to thrive on a growing population). It produced rich merchants. It produced rich bankers. It also produced a middle class.

It was the middle class that demanded and got democracy. (Democracy spreading so everyone could vote was an unexpected consequence.)

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