101–110 of 166 posts
The math doesn't seem right.
And Adam and Eve were together richer than the USA.
Dutch East India Company had its own colonies and army. Practically speaking, it was a branch of the Dutch government, so comparing it to the contemporary companies doesn't make much sense.
There were other private colonial enterprises - British India Company, Kingdom of Sarawak, Kongo Abir Company. 1 - https://en.wikipedia.org/wiki/East_India_Company 2 - https://en.wikipedia.org/wiki/Abir_Congo_Company 3 - https://en.wikipedia.org/wiki/Kingdom_of_Sarawak
Dutch East India Company had its own colonies and army. Practically speaking, it was a branch of the Dutch government, so comparing it to the contemporary companies doesn't make much sense.
Was the VOC a branch of the Dutch government, or was the Dutch government a branch of the VOC? The Dutch government was extremely trade-oriented during the 17th century, and the army would be deployed to protect the trade interests of the VOC.
Trade was indeed a big driver and the VoC basically was one of the first companies/multinationals that used the stock market to raise capital to build an enormous amount of ships that definitely had a lot of defensive/offensive capability. So the VoC was its own navy effectively. Ship building at the time was labor and capital intensive and required access to a lot of resources (e.g. timber). So capital and easy access to local trade routes (the rhine, baltics, etc.) was essential.
When these ships started bringing back goods from Africa and the Indian Ocean regions, people started making lots of money. Dominating the channel militarily and being able to deal with the French, Spanish, and British navies also was key. The scale of the VoC was simply unprecedented.
Earlier quoted context omitted.
Good luck estimating both 17th-century world wealth in Dutch guilders and 21st-century world wealth in USD, both within an order of magnitude. That's at leasts several months, if not years worth of research work in there.
Oh I'm sure it's a lot of work. But that's the whole point right? Getting a proper answer. Guesstimates and half calculations are also imprecise enough to make such articles basically just an exercise in imagination rather than an accurate representation of the facts.
This is a non-sensical article, relying on some obfuscating math hidden behind "Infl. Adjusted". Inflation adjustments gets pretty fuzzy even in the same nation across a few decades, let alone between different nations across centuries. The article equates the 1637 peak valuation of 78 million guilders with current day 7,900,000 million dollars (not the 79,000 million according to the bad math in the article!). Now c…
As another reference point, an annual salary for low-to-medium skilled labour in mid-17th century Holland was around 100 to 200 guilders, which would be about 20 million USD according to the implied "Infl. Adjusted" conversion in the article (upon which the entire premise of the article rests).
This is a non-sensical article, relying on some obfuscating math hidden behind "Infl. Adjusted". Inflation adjustments gets pretty fuzzy even in the same nation across a few decades, let alone between different nations across centuries. The article equates the 1637 peak valuation of 78 million guilders with current day 7,900,000 million dollars (not the 79,000 million according to the bad math in the article!). Now c…