Quote:
Originally Posted by Mansun
The Shire, being valued as less than a shirt of Mithril, was obviously not economically developed in industry beyond the basic pipeweed, food and beer trade!
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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.