An Economic History of the Silk Industry, 1830-1930 by Giovanni Federico

By Giovanni Federico

This publication examines the expansion of the realm silk undefined. Professor Federico files Western industrialization, the technical development and the altering tools of construction that enabled the silk to deal with elevated call for. Silk turned the 1st jap good fortune tale at the global industry, with Italy preserving a vast percentage until eventually hard work used to be diverted due to its industrialization. eastern industrialization additionally led its silk to an identical destiny after the second one global struggle.

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By definition, the proximate cause of these fluctuations, and hence of risk, was the fluctuations in the price of silk in the period between the harvest of cocoons to the sale of silkwares to the final consumer. 51 All subsequent variations of the silk prices changed the value of the stocks (of dried cocoons or of silk) and thus caused whomsoever held them to gain or to lose. The risk was almost always borne by reeling firms or dried cocoon merchants. In fact, peasants and weavers usually behaved as normally risk-averse people.

The crisis began when pebrine hit the Mediterranean sericulture like a 16 Federico 1994a, Appendice Statistica, table XV. (tonnes) 400,000- /\/\ A 300,000- 200,000- 100,000- EXPCINA EXPITV EXPJAP-* 1850 Figure 2 1860 1870 1880 Silk exports by country 1860-1930 1890 1900 1910 1920 1930 1940 38 An economic history of the silk industry bombshell - and, in the words of a well-known Italian textbook, 'threatened to extinguish' it. 17 The disease had been identified for the first time in France at the beginning of the 1840s.

The result, however, does not change if the definition of entry is restricted to additions to the productive capacity. 4, which takes into account the plants. The turnover was indeed less frantic, but still very high. Actually, the figures overstate the real number of 'entries', as they include the factories built by incumbents. e. still very high by any standard. A similar analysis is not possible for the Far East, but there is nevertheless plenty of evidence about the low barriers to entry. The most compelling piece is the fast growth of steam-reeling from the 1870s onwards, which will be discussed in chapter 7.

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