Essay
Around 1730, Samurai (warriors) in Japan were paid in rice. There were bad harvests which, surprisingly, caused the price of rice to fall. Around this time, through the Dojima Rice Exchange in Japan, the Samurai were able to enter into futures contracts in rice. Rice and currency were both acceptable forms of payment in Japan at this time. Discuss a likely reason why the Samurai might have wanted to enter such contracts.
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The Samurai needed a contract that would...View Answer
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