Ian Pitchford

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With labor so cheap in China and Japan (and southern Europe), the incentives for the local equivalents of Boulton to invest in machinery were weak. As late as 1880 the up-front costs to open a mine with six hundred Chinese laborers were estimated as $4,272—roughly the price of a single steam pump. Even when they had the option, savvy Chinese investors often preferred cheap muscles to expensive steam.
Why the West Rules—for Now: The Patterns of History, and What They Reveal About the Future
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