As far as our simulation - we only had two rounds - but I think you could see the trend line I drew - showing how do we find "prices" in an economy? If you notice - in the first round, when you had no idea about the value of your labor, you have no idea what price you should ask for. You will notice in round one, prices are all over the place. But in the second round - when both captains and emigrants had an idea of what prices should be - we are beginning to see a market stabilize. I am sorry that I didn't time things out well today. Watch the other classes when I post their data sheets - you will see that the market does work its way down to cluster around 4 years. That ended up being too short of a period for most people that paid for the labor. It is why slavery took over as the "labor of choice." A sad era of US history began as an economic choice.
More rounds would've demonstrated how the market finds prices. What items do you see this happen with in your lives? (Hint: you probably have one in your pocket)
As far as negotiating - Bravo for using the 3 economic questions of What to produce, How to produce, and For whom to produce when you were negotiating. It also helped with the captains to evaluate who they wanted.
BTW: Congrats to Brooke Lindquist for winning the most emigrant points. Captains / Agents was won by Sky Putnam and Myles Kroll. Also, if you signed on with Karlie Muff and took her up on a new life in the Caribbean - you likely DIED within 3 years. Starvation, dehydration, malaria, infections, horrible accidents at the sugar cane plantations killed 70% of emigrants.
No class this week - but you do have assignments to do in Week 002.
No comments:
Post a Comment