Shifting Capital

Aida Ramos
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Aida Ramos: University of Dallas

Chapter 6 in Shifting Capital, 2018, pp 103-118 from Palgrave Macmillan

Abstract: Abstract This chapter assesses the outcomes of the Union from the articles. It examines the trade advantages Scotland gained, the Equivalent, and the temporary exemptions from certain taxes. However, it draws attention to what was given up in exchange: the Scottish Parliament, the capital, and the Company of Scotland. In gaining a permanent majority in parliament, the closure of the East India Company’s rival, and another source of capital and debt service, the chapter argues that England emerged the true winner of the positive surplus battle, from a mercantilist perspective. It examines the different forms of capital that were at stake in the Union decision, physical and financial, and concludes with a discussion of how Scotland’s human capital remained intact due to its social institutions.

Keywords: Political capital; Capital; Social capital; Financial capital; Human capital; Structural violence; Trade; Taxation; Act of Union; Scotland; England; Equivalent; Institutions; Mercantilism (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-319-96403-4_6

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DOI: 10.1007/978-3-319-96403-4_6

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