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Economy of Urcea: Difference between revisions
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Although Urcea's major trade partners are within the Levantine Union, it conducts a large amount of overseas trade. Urcea's shipping industry is one of the largest in the world, and foreign trade with Crona, Sarpedon, and other partners have greatly enhanced the shipping and air freight industries. Urcean economic interests in Crona have lead to greater trade across the Levantine Ocean, with a particular emphasis on new markets in [[New Harren]], which serves as a hub for trade goods in the eastern hemisphere and a gateway for goods to flood back to Levantia. Urcea traditionally suffered a fairly large trade deficit mostly reliant on exporting food and other goods to [[Sarpedon]], but with the rise of the [[Nysdra Sea Treaty Association]] and development of markets in [[Crona]] - in addition to increased trade with [[Caphiria]] - the nation has enjoyed a trade surplus fairly regularly since [[2014]]. | Although Urcea's major trade partners are within the Levantine Union, it conducts a large amount of overseas trade. Urcea's shipping industry is one of the largest in the world, and foreign trade with Crona, Sarpedon, and other partners have greatly enhanced the shipping and air freight industries. Urcean economic interests in Crona have lead to greater trade across the Levantine Ocean, with a particular emphasis on new markets in [[New Harren]], which serves as a hub for trade goods in the eastern hemisphere and a gateway for goods to flood back to Levantia. Urcea traditionally suffered a fairly large trade deficit mostly reliant on exporting food and other goods to [[Sarpedon]], but with the rise of the [[Nysdra Sea Treaty Association]] and development of markets in [[Crona]] - in addition to increased trade with [[Caphiria]] - the nation has enjoyed a trade surplus fairly regularly since [[2014]]. | ||
==Business culture== | ==Business culture== | ||
Urcean society exhibits a unique business culture due to a number of different social traditions and institutions, including and especially the [[Catholic Church]] and [[Guilds (Urcea)|guild]] system. Many cultural observers have noted a high level of "democratization" of the Urcean economy based on both regulatory climate and social expectations. Industry-spanning megacorporations are generally considered to be difficult to form in Urcea for these reasons. Instead, scholars note that corporate leaders tend to focus on very long-term planning and possible innovation rather than competitive domination and cornering markets. | Urcean society exhibits a unique business culture due to a number of different social traditions and institutions, including and especially the [[Catholic Church]] and [[Guilds (Urcea)|guild]] system. Many cultural observers have noted a high level of "democratization" of the Urcean economy based on both regulatory climate and social expectations. Industry-spanning megacorporations are generally considered to be difficult to form in Urcea for these reasons. Instead, scholars note that corporate leaders tend to focus on very long-term planning and possible innovation rather than competitive domination and cornering markets. The regulatory and social systems that dominate Urcean economic life are viewed, outside of Urcea, as being cumbersome and daunting, and accordingly most foreign capital prefer to operate entirely within the context of Urcean-operated companies due to familiarity with the various institutions governing commerce. | ||
===Regulatory impacts=== | ===Regulatory impacts=== | ||
The extensive system of regulation imposed on businesses in Urcea through the guild system generally discourages the practice of monopoly forming or market cornering. | |||
===Trust culture=== | ===Trust culture=== | ||
The Urcean business world is characterized by a high degree of trust exhibited between business owners as well as between businesses and customers. Observers have suggested that both the guilds and share Catholic ethics have a role to play in the development of this degree of trust. Within the guild system, most local businesses are bound together, ensuring that long-term relationships between them are not only possible, but in many cases required. This is due to the common voting interests within the guild as well as the basic physical proximity that proprietors are required to take part in as part of guild meetings and membership. Additionally, the high degree to which Urcean society adheres to Catholics ethics means that a relatively high bar for proper behavior between individuals exists, so significant social pressures exist for individuals to keep their agreements. | The Urcean business world is characterized by a high degree of trust exhibited between business owners as well as between businesses and customers. Observers have suggested that both the guilds and share Catholic ethics have a role to play in the development of this degree of trust. Within the guild system, most local businesses are bound together, ensuring that long-term relationships between them are not only possible, but in many cases required. This is due to the common voting interests within the guild as well as the basic physical proximity that proprietors are required to take part in as part of guild meetings and membership. Additionally, the high degree to which Urcean society adheres to Catholics ethics means that a relatively high bar for proper behavior between individuals exists, so significant social pressures exist for individuals to keep their agreements. | ||