Archive for November 15th, 2017

Story of Thomas Cook: How an Alcohol-Hating English Preacher Founded Global Tourism

November 15, 2017

Quite unbelievable to read this piece:

…when the Industrial Revolution dawned in the late 18th century, England—and then much of the rest of Western Europe and the U.S.—suddenly had a middle class with some disposable income. They, too, wanted to see the world, but their limited means meant they had to vacation close to home. That’s where they might have remained had an ambitious young cabinetmaker from central England not spotted this glaring gap in the market—and moved to expertly exploit it.

Cook’s venture was rooted not in a tourist’s desire to kick back a pint and visit a few historic sights, but in his fervor to keep would-be globetrotters from drinking in the first place. Convinced from an early age of the evils of alcohol, he spent much of the 1820s and ’30s walking the English countryside, spreading his religious message to all who’d listen and distributing pamphlets extolling the dangers of beer to those who wouldn’t. It was a desperately inefficient means of advancing his cause.

And so when the world’s first railway network began to open right on his doorstep, Cook was quick to recognize its value. By arranging free or discounted train trips, he could ferry large cohorts of temperance supporters to rallies across the country. With the development of telegram wires, 2,000 miles of which were laid in Britain by the early 1850s, he was soon even able to direct his temperance tourists’ itineraries from afar.

It didn’t take Cook much longer to grasp that these cash-churning expeditions might earn him more than heavenly favor. Putting his missionary work on hold, he started organizing and then guiding sightseers on trips around Britain. In 1855, he ventured over the English Channel to France, then to Switzerland a few years later. No sooner had the American Civil War ended than he shepherded a tour across the Atlantic to New York.

Really!

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Great Depression research remains the holy grail..

November 15, 2017

Bernanke called Great Depression the holy grail of macroeconomics.  It is perhaps one of those few events despite being historical continues to inspire so much research after all these years. Books continue to be written and debated vigorously on the crisis .

Came across two recent posts in this regard:

  • David Glasner argues how Friedman was not the first to argue about France’s role in gold standard which eventually was one of the key reasons for the Depression to become global. Lots of history of monetary thought in the post.
  • In another post, Robert Murphy says Gold Standard was not responsible for Depression.

Phew…Keep breaking heads over it…

From tea to chai: a slideshow..

November 15, 2017

Sreedeep of Shiv Nadar Univ has a slideshow of the tea to chai journey:

This is what goes into every sip: centuries of colonial plantation history, hours of labour withstanding the sun and the rain, meticulous plucking of the freshest leaves, series of mechanised crushing, rolling, packing; and most importantly — a passion for tea. Only the fresh leaves on top make it to the factory. Labourers are paid a paltry amount of ₹300 for a day that includes nine hours of hard labour.

While the finest leaves are hand plucked, a tea processing machine chops the rest of the leaves to produce regular tea. Leaves are gathered and transported to the factory at the end of the day. At the factory, the leaves are spread on withering troughs, after which a mixture of hot and cold air is passed through them for 12 hours. This removes the moisture from the leaves, before they are thrown into the crushing machine. Roughly 4,000 kg of leaves produce 1,000 kg of packaged tea dust.

 


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