A thirteenth-century Song dynasty text about commerce describes dangers faced by pearl divers, who sometimes fell prey to “huge fishes, dragons, and other sea monsters” that would rip open their stomachs or bite off their feet. A pearl was considered most valuable if perfectly round; the test was “that it will not cease rolling about all day when put on a plate.” To avoid heavy export duties, foreign traders sometimes concealed pearls in canes or umbrella handles.
Miscellany
A growing market for ejiao—a gelatin made from donkey hide believed by practitioners of traditional Chinese medicine to increase libido and slow aging—has led to a global trade of millions of donkey skins each year. Asses are often kidnapped from rural African villages, where their labor is valued highly, then taken to markets and slaughtered for export. “The donkeys,” said a sanctuary manager while visiting a market in Tanzania, “are very stressed.”
Ottoman humorist Yusuf al-Shirbini of Egypt railed against unfair levies, referring to them as “things being called innovation.” Al-Shirbini quoted scripture: one who brings about “an innovation or provides accommodation for an innovator, upon him be the curse of God.”
Economist Frédéric Bastiat published a parodic open letter to French parliament in 1845 that imagined the national lighting industry lobbying for a law to black out all windows in response to the “ruinous competition” of the sun, which was “flooding the domestic market.” “Be logical,” the letter concludes, “for as long as you ban, as you do, foreign coal, iron, wheat, and textiles, in proportion as their price approaches zero, how inconsistent it would be to admit the light of the sun, whose price is zero all day long!”
Corporations, wrote Edward Coke in a 1613 legal decision, “have no souls,” for they are “invisible, immortal, and resteth only in intendment and consideration of the law.” A corporate body, Coke argued, can’t “do fealty, for an invisible body cannot be in person, nor can swear.”