Economic Globalization
by Prof. Jet T. Castillo
This is a long lesson, so we divided it into
chewable bits…
Part 1 –Economic Systems in the Pre-Colonial Era
Part 2 –Economic Systems During the Colonial Era and Post-Colonial Era
Part 3- The Age of Economic Cooperation
Part 1
•Pre-Colonialism Economic Systems
In the beginning…
•Simplest economic system
•Hunting and gathering
•“isang kahig, isang tuka”
•Hand-to-mouth subsistence
Evolved to Agricultural Economy
•Agricultural Revolution
•People learned to plant crops and domesticate animals
•Wealth was measured by how much sheep or cattle one has
•Money was not yet invented
•Mesopotamia
Barter Trade
•Before the invention of money, civilizations practice barter trade
•Goods for goods
Economy in the City-States and
Ancient Kingdoms
•Taxation was invented
•Taxation was in kind, not in cash
