Quote:
Originally Posted by Lalwendė
Apart from the fact they obviously also had trades in: tailoring; bookbinding; stationery manufacture; forging tools; cutlery manufacture; wine making; umbrella making; and manufacture of personal care items such as mirrors. Amongst other clues pointing to a reasonably modern economy.
I think the value of the Mithril shirt in comparison to the value of The Shire was more of a reflection of the rarity of Mithril and the outrageous worth of a whole shirt made of the stuff rather than a reflection of The Shire's real value.
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I did not say other means of trade and industry did not exist (such a thought is embarrassingly narrow-minded and absurd), I meant that the Shire was not economically strong beyond the obvious trades. The trades you mention were all relatively small and unimportant. The Shire was way, way behind the other countries of Middle Earth economically.
Mithril may have been rare and valuable, but Gandalf rated it as far more valuable than the Shire and everything in it. I do not think he would have said such a bold statement to dismiss Loth Lorien, Rohan, Gondor, Isengard, Mordor, or even Dale. Bring forth the mail shirt before the Lords of Gondor and Rohan and receive an envious glance of wonder at this antique piece of armoury, but no more.