determine which of the matrices are exchange matrices. For those that are exchange matrices, find a nonnegative price vector that satisfies equation (1).
1st Successful American Colony 1 Lecture 4: 1st Successful American Colony 1/21/18 Cronon Notes: - Property: society defines what property is/can be - Indians idea: much more communal; when you’re directly using something it is your property; not using something means it is up for grab in the community - Usufruct: certain limited rights, without owning something - Indians moved around a lot so it’s impractical to have a lot of property, English were much more stationary - for Indians, all exchanges were gifts; they held personal connections - What happens in an Indian society when you give away your land - to build a relationship because you may need something from them later - Social Capital: - Indians had a lot of social capital - how do you build it make connections - Indians have no use for the English ideas of property English: - Commodity: something you can put monetary value on and sell in a market - Indians don’t have the social or economic capacity to create a commodity - Ex. Beaver Trade: - English want beavers for hats - when Indians found out they could sell beavers they jumped right into the market Reading for this Week: - Read all 80 pgs. of “Myne Owne Ground” - 1) Explains what people thought about slavery in 17th Century - 2) Says why it’s wrong - 3) Shows/persuades why they are correct - Europeans need large amount of capital to send explorations out and it takes a long time to get a return on your investment - in the 17th C., Holl
