Economy
The Tayouan factory (as VOC trading posts were called) was to become the second-most profitable factory in the whole of the Dutch East Indies (after the post at Hirado/Dejima), although it took 22 years for the colony to first return a profit. Benefitting from triangular trade between themselves, the Chinese and the Japanese, plus exploiting the natural resources of Formosa, the Dutch were able to turn the malarial sub-tropical bay into a lucrative asset. A cash economy was introduced (using the Spanish real,which is used by VOC) and the period also saw the first serious attempts in the island's history to develop it economically.
Read more about this topic: Dutch Formosa
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)