Ep 1. Self-Interest, Human Survival, and History

An Economic History of the World Since 1400 season 1 episode 1, titled "Self-Interest, Human Survival, and History," delves into how trade and commerce have shaped and transformed the world from as early as the fifteenth century. Hosted by Professor Donald J. Harreld, an economics expert, the episode sets the stage for a thrilling and thought-provoking narrative about the evolution of global economies and the role of self-interest in economic history.

Professor Harreld situates the episode's content within a broader thesis that economic change is driven by individuals seeking to satisfy their self-interest. Despite critics who suggest that self-interest is a negative trait, Professor Harreld argues that self-interest, when exercised in the right spirit, is an essential element for human survival and prosperity. To emphasize this point, Professor Harreld draws examples from the Roman Empire, Renaissance Europe, to modern-day markets.

One key theme of the episode is the reality that exchange and trade existed well before the first European navigators explored the unknown ocean waters. Harreld traces the earliest forms of trade, starting from the Silk Road in the East to the Mediterranean trade system in the West, which linked Africa, Asia, and Europe. In these early periods, self-interest played a crucial role in decision-making, as it remains today. Professor Harreld suggests that this was the true beginning of globalization, long before the term was coined.

Further, Professor Harreld uses the episode to make the point that the economic boom period in Europe from the sixteenth century onwards was directly linked to the rise of self-interest, particularly the self-interest of merchants. When the feudal system floundered and disintegrated in the face of technological advancement, a new form of economic organization emerged, which was driven by the merchants.

Merchants, as the era's capitalists, were individuals who always put their self-interest first. They invested in colonies, trade expeditions, and formed monopolies to organize trade and commerce. Professor Harreld highlights how these individuals played essential roles in shaping the economies of Western Europe, particularly during the Industrial Revolution.

The episode takes a comparative approach, emphasizing the contrast between the capitalist system that emerged in Europe and Asia's economic history. Harreld argues that in many Asian societies, such as China and Japan, self-interest was often suppressed and discouraged. This suppressed self-interest stifled economic development in those regions, limiting them to specific patterns of growth that fell behind those seen in Europe.

Professor Harreld doesn't shy away from discussing the ethical considerations that come with the pursuit of self-interest. He explores the dark side of the self-interest model, and how it facilitated exploitation of their colonies by the European powers which led to colonization and imperialism, providing unending inspiration for other societies.

In conclusion, "Self-Interest, Human Survival, and History" promises to be an exciting and intellectually stimulating episode. Professor Harreld blends rich historical context with modern-day perspectives to explore the role of self-interest in economic history. The episode provides viewers with a compelling overview of the history of trade and commerce right from ancient times until the present day. It sets the foundation for the upcoming episodes, which will examine the world's economic history in greater depth.