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Price History and the Bursa Silk Industry: A Study in Ottoman Industrial Decline, 1550–1650

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  • Cizakca, Murat

Abstract

The Ottoman Empire did not escape the “price revolution” of the “long” sixteenth century. As far as the Bursa silk industry was concerned, however, the rate of increase of relative prices was such as to result in a price “scissors.” This situation led to declining profits in the production of cloth, while profits in the production of the raw material were substantial. A transformation of Bursa's economy from cloth production to raw material production followed. It appears that this transformation conformed to a cyclical pattern in the following centuries, a pattern that was chiefly dictated by European economic might.

Suggested Citation

  • Cizakca, Murat, 1980. "Price History and the Bursa Silk Industry: A Study in Ottoman Industrial Decline, 1550–1650," The Journal of Economic History, Cambridge University Press, vol. 40(3), pages 533-550, September.
  • Handle: RePEc:cup:jechis:v:40:y:1980:i:03:p:533-550_08
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    Cited by:

    1. Orhan Oguz & Ahmed Tabakoglu, 1991. "An Historical Approach to Islamic Pricing Policy: A Research on the Ottoman Price System and its Application منهج تاريخي لبحث سياسة سعرية إسلامية بحث في نظام الأسعار في الدولة العثمانية وتطبيقاته," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 3(1), pages 63-79, January.

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