Thomas Wentworth, 1st Earl of Strafford Quotes
I am confident,, it will prove a mighty business considering that, in all probability, we shall be able to under-sell the linen cloths of Holland and France at least twenty in the hundred.
1st Earl of Strafford. Although Strafford was a terrible ruler of Ireland and was hated by most, he did stimulate the development of the linen trade for which Ireland later became so famous. Most rulers of the time were not that interested in economic development, but he was. Holland and France were then the leaders in producing fine linen. Globalization was even then a factor in international trade. Strafford took advantage of the fertile lands of Ireland, and the abundant supply of cheap labor to import the finest Dutch seed and have Ireland plant thousands of acres of linen flax. He invested his own money also in order to get the industry started, and although the first production were viewed as cheap imitations of Dutch and French linen, soon the creativity and industry of the Irish produced an even better product and Ireland became the world leader of linen production.
Thomas Wentworth, 1593-1641, Member of English Parliament, Lord Deputy of Ireland, Statement regarding Ireland getting into the linen business, Quoted in Ernest Hamilton, The Irish Rising Of 1641, With A Detailed Account Of The Massacres
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Commenting on why the French conducted industrial espionage against American companies:
The president was explaining the importance of the Trans-Pacific Partnership (TPP) which his administration had successfully negotiated with most Pacific Nations but had run into significant opposition in the United States, where trade pacts in general were being blamed by many Americans—–including politicians—–for the low wages and not enough jobs for many middle and lower class workers who did not experience quality education in science, technology, engineering and mathematics or a few other areas that www in great demand.
The remark was made just before she became Prime Minister but while a member of the government.
Despite this economic reality, many underdeveloped nations sell their raw materials because it is easier than the alternative which takes capital investment in processing plants and equipment, training of workers, and establishing a marketing mechanism. Most third world nations are limited in their capacity to do this but they have abundant natural resources.
When Bulgaria transformed from a Communist nation to a free market, competitive economy, most of the Bulgarian businessmen assumed that the competition was to get a favored position with the government and have the government then interfere with their competitors or some other government organized advantage for them as opposed to better products, better prices, better marketing. Ironically, there are still a few areas where the modern American system is much like Bulgaria was. Local telephone and electric monopolies are two of the worst.
Thomas Wentworth, 1st Earl of Strafford, KG was an English statesman and a major figure in the period leading up to the English Civil War. He served in Parliament and was a supporter of King Charles I. From 1632 to 1640 he was Lord Deputy of Ireland, where he established a strong authoritarian rule. Recalled to England, he became a leading advisor to the King, attempting to strengthen the royal position against Parliament. When Parliament condemned Wentworth to death, Charles reluctantly signed the death warrant and Wentworth was executed.
