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Paper Information:
Type: Paper
Paper Title: PREDATORY COMMERCE AND ECONOMIC DISASTER: A CAUTIONARY TALE FROM THE 17TH CENTURY INDIAN OCEAN ECONOMY
Author: CHAPURUKHA KUSIMBA, RAHUL OKA (University of Notre Dame)   
Date/Time: Fri., 8:30 AM
Co-Author(s): CHAPURUKHA KUSIMBA, RAHUL OKA (University of Notre Dame) 
Abstract: We model and demonstrate the negative effects of commercial deregulation on global economies using data on the Indian Ocean economy over the past 500 years. We present a “trading system” model to show how predatory behaviors and agents are selected in a deregulatory climate. These agents work to further reduce regulation while simultaneously intensifying short-term maximization leading to long-term collapse and disaster for small-scale economies. This change is a departure from traditional network-centric organizations common in ethnic trading groups that emphasize self-regulation and self-limiting behaviors as survival strategies. We use archival, archaeological and archaeometric data, to show that in the long run deregulation of the macro-economy in the 17th century Indian Ocean proved disastrous for Asia and Africa.

Program Number: 3-0220
Session Title: HOT TRADE: FRONTIERS AND FRICTION IN PAST ECONOMIES
Session Sponsor: Archaeology Division
Session Date/Time: Fri., 8:00 AM-11:45 AM
Organizer(s): KATHRYN FRANKLIN (University of Chicago) 
Chair(s): SHANNON DAWDY (University of Chicago)  
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