Wikipedia articles of interest

1. Dutch East India Company.

“The Dutch East India Company (Dutch: Vereenigde Oost-Indische Compagnie, VOC, “United East India Company”) was a chartered company established in 1602, when the States-General of the Netherlands granted it a 21-year monopoly to carry out colonial activities in Asia. It was the second multinational corporation in the world (the British East India Company was founded two years earlier) and the first company to issue stock.[2] It was also arguably the first megacorporation, possessing quasi-governmental powers, including the ability to wage war, imprison and execute convicts,[3] negotiate treaties, coin money, and establish colonies.[4]

Statistically, the VOC eclipsed all of its rivals in the Asia trade. Between 1602 and 1796 the VOC sent almost a million Europeans to work in the Asia trade on 4,785 ships, and netted for their efforts more than 2.5 million tons of Asian trade goods. By contrast, the rest of Europe combined sent only 882,412 people from 1500 to 1795, and the fleet of the English (later British) East India Company, the VOC’s nearest competitor, was a distant second to its total traffic with 2,690 ships and a mere one-fifth the tonnage of goods carried by the VOC. The VOC enjoyed huge profits from its spice monopoly through most of the 17th century.[5] […]

By 1669, the VOC was the richest private company the world had ever seen, with over 150 merchant ships, 40 warships, 50,000 employees, a private army of 10,000 soldiers, and a dividend payment of 40% on the original investment.[23] […]

However, from there on [1730] the fortunes of the VOC started to decline. Five major problems, not all of equal weight, can be adduced to explain its decline in the next fifty years to 1780.[38]

There was a steady erosion of intra-Asiatic trade by changes in the Asiatic political and economic environment that the VOC could do little about. These factors gradually squeezed the company out of Persia, Suratte, the Malabar Coast, and Bengal. The company had to confine its operations to the belt it physically controlled, from Ceylon through the Indonesian archipelago. The volume of this intra-Asiatic trade, and its profitability, therefore had to shrink.
The way the company was organized in Asia (centralized on its hub in Batavia) that initially had offered advantages in gathering market information, began to cause disadvantages in the 18th century, because of the inefficiency of first shipping everything to this central point. This disadvantage was most keenly felt in the tea trade, where competitors like the EIC and the Ostend Company shipped directly from China to Europe.
The “venality” of the VOC’s personnel (in the sense of corruption and non-performance of duties), though a problem for all East-India Companies at the time, seems to have plagued the VOC on a larger scale than its competitors. To be sure, the company was not a “good employer”. Salaries were low, and “private-account trading” was officially not allowed. Not surprisingly, it proliferated in the 18th century to the detriment of the company’s performance.[39] From about the 1790s onward, the phrase perished by corruption (also abbreviated VOC in Dutch) came to summarize the company’s future.
A problem that the VOC shared with other companies was the high mortality and morbidity rates among its employees. This decimated the company’s ranks and enervated many of the survivors.
A self-inflicted wound was the VOC’s dividend policy. The dividends distributed by the company had exceeded the surplus it garnered in Europe in every decade but one (1710–1720) from 1690 to 1760. However, in the period up to 1730 the directors shipped resources to Asia to build up the trading capital there. Consolidated bookkeeping therefore probably would have shown that total profits exceeded dividends. In addition, between 1700 and 1740 the company retired 5.4 million guilders of long-term debt. The company therefore was still on a secure financial footing in these years. This changed after 1730. While profits plummeted the bewindhebbers only slightly decreased dividends from the earlier level. Distributed dividends were therefore in excess of earnings in every decade but one (1760–1770). To accomplish this, the Asian capital stock had to be drawn down by 4 million guilders between 1730 and 1780, and the liquid capital available in Europe was reduced by 20 million guilders in the same period. The directors were therefore constrained to replenish the company’s liquidity by resorting to short-term financing from anticipatory loans, backed by expected revenues from home-bound fleets.”

2. Plastid.

3. Collision cascade.

4. Ablation.

5. Second Persian invasion of Greece. A nice image from the article:

6. Tidal force.

7. La Tène culture.

8. Effective population size (genetics)

“the number of breeding individuals in an idealized population that would show the same amount of dispersion of allele frequencies under random genetic drift or the same amount of inbreeding as the population under consideration.”

January 28, 2012 - Posted by | anthropology, biology, genetics, history, Physics, wikipedia

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