William Bernstein on the History of Trade

  • 1400

    Spice trade

    Spice trade gave us the first definition of global trade.
  • Sugar trade

    At one time, sugar could be considered as a fine spice, and very expensive because it's brutally hard to manufacture. Gradually became less expensive when slave labor was in full of force, and no society ever decrease the sugar consumption.
  • Luxury good trade

    It was from 1600-1700.
    Only elite can afford long-distanced goods.
  • Tea Trade

    The Boston Tea Party which arose when Britain trying to help the East India Company by opening up the colonies by allowing them to sell directly with taxes.
  • Corn Laws

    Corn Laws artificially kept the price of grain up through subsides. This made the poor, poorer because they could not keep up with the demand compared to the price. Once repealed it leveled the market and helped the poor.