“Cigarette Money- Trading in a Prisoners-of-War-Camp” 1) Introduction This paper focuses on the analysis of the Prisoners-of-War Camp (POW Camp from now on) as depicted by R.A. Radford regarding various economical matters and behavioural aspects of its inhabitants. First of all the organisation of the POW Camp itself will be explained with a secondary focus on the extent, to which organisational structures foster a functioning market. Afterwards the emergence of cigarettes as a currency in the market of the POW camp will be examined with a detailed focus on a comparison between the properties of an ideal currency and properties of cigarettes as a currency. This examination will be followed by research on the validity of Gresham´s Law …show more content…
Every individual is willing to work for their living as long as they expect to receive a reward from it and improve their living conditions this way. This can also be observed in the POW Camp. The author says that the trade of goods is essential for the inmates of the POW Camp in order to improve their standards and fulfil their personal needs (Radford, 1945). As Radford puts it “ ”Goodwill” developed into trading as a more equitable means of maximising individual satisfaction” (Radford, 1945, p.191). An exchange of goods can be observed directly after the arrival at the POW Camp. This is caused by self-interest, the equal rations for every prisoner arriving on a regular basis and the fact, that every individual has different preferences Due to the differing preferences a maximization of an inmate´s utility is only possible by trade. At a later point a little labour market evolves where simple services such as laundry and hair cutting are offered (Radford, 1945). In the transit camp in Italy trade only consists of the simple exchange of goods against each other, so-called barter trade. Prices often vary significantly due to informational deficits of the camp inmates. After arriving in the permanent camp in Germany this circumstance changes: Informational asymmetries disappear due to the higher level of organisation. The value of a good is now expressed in terms of cigarettes. The use of cigarettes
The chapter starts by giving the example of how the head of Coca-Cola Europe decided to give away Coke to East Germans as the Berlin Wall was falling in 1989. This gamble, which began as a loss, eventually paid off for Coca-Cola. Six years later, the former East Germany had matched West Germany in the consumption of Coke, an excellent example of the power of markets. The author gives a simplistic explanation of the communist economy. There is no law of supply and demand. The price of an item is the same regardless of where one buys it. This is due to the fact that every business is paid the same by the government for selling a specific item regardless of the amount sold. Our economy is a market economy and economists make two important assumptions.
Daily Life through Trade: Buying and Selling in World History. Santa Barbara, CA: Greenwood, 2013. Print.
Throughout the expansive Roman Empire, the economy of Rome was heavily stalled through implosive matters of slavery, oppression of conquested persons, and the wealth of Latifundia. Throughout the history of economics there has been a debate on the economic benefits, or rather lack thereof, on the usage of slave laborers; Mr. John Elliott Cairnes helped
Capitalism was the sole purpose for being the cause of an exponential use of slaves in all aspects of production. Notably, it involved an economic system whose basis originates from private ownership of all the means of production as well as the production of goods and services majorly meant for profit. With characteristics such as accumulation of capital, labor, private property ownership, and competitive market. Therefore, there was a great need for means of production hence slavery. However, there is a close relationship between free and slave labor as used in production. The paper uses “Capitalism and Slavery” (William, 1961) as a primary source material to compare the profitability of free labor and slave labor through an in-depth discussion of the role the African slavery played in the development of capitalism in the New World. Free labor and slave labor both have profits in the production process and would be applied differently at various places. For instance, slave labor was profitable in activities in which little skills and versatility in production process were required. It is worth noting that, the use of slave labor to cultivate a fresh soil is more profitable than the use of free men in the cultivation of an exhausted land. However, the use of slave labor was the option at the earlier stages of development of colonies, although slaved labor was unskillful, given reluctantly, and lacks versatility (Eltis, 2000). Moreover, use of slave labor were not moral but
In part 3, Morris (2002, p.171) discusses why prison conditions matter and why penal reformers, including himself, have devoted their lives and travelled thousands of miles
Workers in Packingtown were subject to conditions similar to slavery. Sinclair describes the situation explaining that “they were tied to the great packing machine, and tied to it for life” (Sinclair 94). Most of the workers could not escape the grasps of the Beef Trust, a monopoly on the beef industry that was above even the law. They were forced to work in dangerous and filthy conditions, earning barely any compensation for their work. All of the workers were seen as “cogs in the great packing machine,” replaceable and cheap (Sinclair 74). By objectifying their workers as simply moving parts to a machine, employers could find moral high ground in the poor and inhumane working conditions, and they could replace old and damaged “parts” with new ones without so much as thinking about what they had done for that worker. Sinclair hoped to promote Socialism with these depictions, spending the last few chapters of the book detailing how Socialism could fix all of the problems detailed in the beginning. His ideas of “‘Communism in material production, anarchism in intellectual’” were never realized in the United States (Sinclair 291). He believed that people should be given equal resources and then allowed to have as much intellectual gain as they wanted. The general public did not respond to this argument. They saw the problem in a different perspective, blaming not capitalism but
Survival in Auschwitz written by Primo Levi is a first-hand description of the atrocities which took place in the Nazi concentration camp Auschwitz. The book provides an explicit depiction of camp life: the squalor, the insufficient food supply, the seemingly endless labour, cramped living space, and the barter-based economy which the prisoners lived. Levi through use of his simple yet powerful words outlined the motive behind Auschwitz, the tactical dehumanization and extermination of Jews. This paper will discuss experiences and reactions of Jews who labored in Auschwitz, and elaborate on the pre-Auschwitz experiences of Jews who were deported to Auschwitz and gassed to death on their arrival, which had not been
Equiano, on a slave ship towards the West Indies, was on the verge of everlasting bondage. “In this manner we continued to undergo more hardships than I can now relate, hardships which are inseparable from this accursed trade. Many a time we were near suffocation from the want of fresh air, which was often without for whole days together.” (57) The conditions for slaves on these transport ships was horrendous, as those in charge cared little for the well being of these Africans. Equiano was unaware of what was to come, and fear lingered in his memory of this unforgiving experience. He explains the process of the transaction, “We were not many days in the merchant’s custody, before we were sold after their usual manner, which was: On a signal given (as the beat of a drum), the buyers rush at once into the yard where the slaves are confined, and make choice of that parcel they like best.” (58)
In the days during the 29th of november to the first of december, 1781, an event took place which would change the way people were treated and would change laws. In 3 groups, 132 Afrian slaves were thrown from the slave ship Zong, to their death. There are many factors, concerning what happened on the zong, contributing to the growth of the abolitionist campaign. One factor is that public opinion changed after word spread about what hapened on the Zong. Another factor is that the British economy didn't rely on slavery anymore. The final factor is that there were more pro-abolitionist MP's in parliament. This essay will evaluate how successful the case of the zong was in the growth of the abolitiost campaign.
There was an abundant amount of trading and bartering that happened between white slave owners. “We were not many days in the merchant’s custody before we were sold after their usual manner.”(Page 4) The slaves were thought of and treated
Eventually Jews and other ‘undesirables’ were sent to death camps, while others went to forced labour camps and used as slaves to produce materials for weapons in war, and a range of goods, such as shoes, clothes and good. These death camps
The exchange market was a form of an underground black market inside the camps. They would trade and sell necessities, such as shoe shine. Prisoners would sell their extra spoons and clothes for extra food and other supplies. Even though the Germans had knowledge of this exchange market, they never shut it down. They, in a way, seemed to encourage the selling and trading of the market, because of their rules such as the shoe shine. Some of the German guards would even take advantage of the market and get extra money on the side. However, if anyone was ever caught doing these types of exchanges, they would be executed. There was also another sort of exchange market amongst the civilians themselves. These non-Jew outsiders would come to the camp
In Wealth of Nations, self-interest seems to be synonymous with selfishness, and be the driving force of capitalism and the necessary ingredient for personal and economic wealth. This is, however, and partial and superficial view. Although in Wealth of Nations Smith does declare that human’s primary motive for most actions is self-love, all of their actions are still made within the moral parameters of society, which were created because of sympathy. A man, for example, will not pursue his self-interest at any cost to the people around him. He has to be ethical and fair in his interactions in order to be seen as morally and socially acceptable. In this way an understanding of, and cooperation with the sympathetic nature of society proves to further one’s self-interests. Therefore, to act morally and sympathetically is in fact an act out of self-interest.
“I always knew that deep down in every human heart, there is mercy and generosity … Even in the grimmest times in prison, when my comrades and I were pushed to our limits, I would see a glimmer of humanity in one of the guards, perhaps just for a second, but it was enough to reassure me and keep me going.”
The war on smoking has existed for decades. With the advent of more tenacious laws prohibiting smoking in public locations, and most recently Minnesota’s historic tobacco settlement, many actions against “Big Tobacco” have become more successful. Anti-smoking campaigns have become more confrontational, directly targeting tobacco companies in an effort to expose its manipulative and illegal marketing tactics. On the surface, last November's $206 billion settlement agreement between the tobacco companies and 46 states looks like a serious blow for Big Tobacco. In addition to the money, it contains some important concessions: a ban on outdoor advertising, limits on