The retinue of a grandee in China or Indostan [sic] accordingly is, by all accounts, much more numerous and splendid than that of the richest subjects in Europe: in manufacturing art and industry, China and Indostan, though inferior, seem not to be much inferior to any part of Europe. The money price of the greater part of manufactures, therefore, will naturally be much lower in those great empires than it is any-where in Europe.
About this quote
- What does it mean?
- China has grander displays and lower prices due to abundant manufacturing.
- In plain terms
- China spends more on display and makes goods cheaper.
- What can you take from it?
- Abundance lowers prices and increases display.
Where it applies
Putting it to work
Questions to consider
- Why are prices lower there?
- Does display show wealth or waste?
Another view
Prices depend on currency and access as well as supply.
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