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<blockquote data-quote="bramadan" data-source="post: 52906" data-attributes="member: 1064"><p>So poor that it takes them 20 days of work to buy an empty barell ?</p><p>Not even third world has so low product/labour value ratios and keep in mind that in third world price of "product" is greatly inflated by the 1st world know-how and technology that goes into it, which was not situation in middle ages.</p><p></p><p>As to the chain/mail discussion:</p><p>Assume arbitrary number of smiths. Assume PHB prices. They imply that *provided they can sell their goods* smiths who make chain earn something like at least 50 times hourly wage of ones that make mail. Assume however that the demand for mail is 100 times greater then that for chain and that therefore only 1% of smiths can sell it. What this does is force competition everybody tries to be in this 1% because it is just so lucrative; they undercut each other and price drops bit by bit untill it is no longer incredibly lucrative to pander to this market - that is until the return on investment (in terms of working hours) is same order of magnitude in both cases. Works exactly as you described but only when demand is low because when demand is high loosing business is not a big danger. This is why wages go up when unemployment is low and vice versa. </p><p>I agree that in special cases a nieche item can command a high price due to its rarity but we are talking common chain here not handwowen angora earmuffs. Enough chain is used on daily basis that no matter how high demand for other items it is not ever going to be a nieche product. </p><p></p><p>Writing about this stuff prompted me to take a look at the net and I found this realy cool site, check it out people:</p><p><a href="http://home.mira.net/~tosh/text/general/medievalprices.htm" target="_blank">http://home.mira.net/~tosh/text/general/medievalprices.htm</a></p></blockquote><p></p>
[QUOTE="bramadan, post: 52906, member: 1064"] So poor that it takes them 20 days of work to buy an empty barell ? Not even third world has so low product/labour value ratios and keep in mind that in third world price of "product" is greatly inflated by the 1st world know-how and technology that goes into it, which was not situation in middle ages. As to the chain/mail discussion: Assume arbitrary number of smiths. Assume PHB prices. They imply that *provided they can sell their goods* smiths who make chain earn something like at least 50 times hourly wage of ones that make mail. Assume however that the demand for mail is 100 times greater then that for chain and that therefore only 1% of smiths can sell it. What this does is force competition everybody tries to be in this 1% because it is just so lucrative; they undercut each other and price drops bit by bit untill it is no longer incredibly lucrative to pander to this market - that is until the return on investment (in terms of working hours) is same order of magnitude in both cases. Works exactly as you described but only when demand is low because when demand is high loosing business is not a big danger. This is why wages go up when unemployment is low and vice versa. I agree that in special cases a nieche item can command a high price due to its rarity but we are talking common chain here not handwowen angora earmuffs. Enough chain is used on daily basis that no matter how high demand for other items it is not ever going to be a nieche product. Writing about this stuff prompted me to take a look at the net and I found this realy cool site, check it out people: [url]http://home.mira.net/~tosh/text/general/medievalprices.htm[/url] [/QUOTE]
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