Man U Quote by Giles Milton
““In the Banda Islands, ten pounds of nutmeg cost less than one English penny. In London, that same spice sold for more than £2.10s. – a mark-up of a staggering 60,000 per cent. A small sackful was enough to set a man up for life, buying him a gabled dwelling in Holborn and a servant to attend to his needs””
About This Quote
Source Historical account: Trade in the Banda Islands, 17th century Dutch East India Company records
The extreme price disparity of nutmeg made it a lucrative commodity, enabling massive wealth from modest quantities.
In simple terms: Nutmeg was extremely profitable in the 1600s.
Key Takeaway
Recognize how scarcity drives value.
Themes
economics
trade
wealth
colonialism
commodity markets
Mood
curious
analytical
Type
historical
economic
When to use this quote
- merchant ventures
- colonial trade
- investment decisions
- speculative trading
Key Concepts
Arbitrage
price elasticity
colonial exploitation
Questions to Reflect On
- How does scarcity affect modern commodity prices?
- What ethical issues arise from exploiting rare resources?
A Different Perspective
The figure may be exaggerated; modern equivalents differ.
