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A panoramic new history of modern Britain, as told through the story of
one extraordinary family, and one groundbreaking company.
A Banquet of Consequences is an intricately researched, decisively written and devastating analysis of today’s economy.
Satyajit Das connects disparate strands of a story, and in doing so delivers a damning critique of global economic policies of the last 50 years. He argues that governments and citizens of every political hue are now so addicted to growth and resistant to change, that a prolonged period of chronic stagnation, sustained by large infusions of monetary morphine and continuous interventions, or an unavoidable financial, political and social breakdown are the only possible outcomes.
GUNS, GERMS AND STEEL is nothing less than an enquiry into the reasonswhy Europe and the Near East became the cradle of modern societies- eventually giving rise to capitalism and science, the dominant forces in our contemporary world-and why,until modern times. Africa, Australasia and the Americas lagged behind in technological sophistication and in political and military power. The native peoplesof those continents are still suffering the consequences. Diamond shows definitively that the origins of this inequality in human fortunes cannot be laid at the door of race or inherent features of the people themselves. He argues that the inequality stems instaed from the differing natural resources available to the people of each continent.
An innovative history of deep social and economic changes in France, told through the story of a single extended family across five generations Marie Aymard was an illiterate widow who lived in the provincial town of Angouleme in southwestern France, a place where seemingly nothing ever happened. Yet, in 1764, she made her fleeting mark on the historical record through two documents: a power of attorney in connection with the property of her late husband, a carpenter on the island of Grenada, and a prenuptial contract for her daughter, signed by eighty-three people in Angouleme. Who was Marie Aymard? Who were all these people? And why were they together on a dark afternoon in December 1764? Beginning with these questions, An Infinite History offers a panoramic look at an extended family over five generations. Through ninety-eight connected stories about inquisitive, sociable individuals, ending with Marie Aymard's great-great granddaughter in 1906, Emma Rothschild unfurls an innovative modern history of social and family networks, emigration, immobility, the French revolution, and the transformation of nineteenth-century economic life. Rothschild spins a vast narrative resembling a period novel, one that looks at a large, obscure family, of whom almost no private letters survive, whose members traveled to Syria, Mexico, and Tahiti, and whose destinies were profoundly unequal, from a seamstress living in poverty in Paris to her third cousin, the Cardinal of Algiers. Rothschild not only draws on discoveries in local archives but also uses new technologies, including the visualization of social networks, large-scale searches, and groundbreaking methods of genealogical research. An Infinite History demonstrates how the ordinary lives of one family over three centuries can constitute a remarkable record of deep social and economic changes.
From a major British political thinker and activist, a passionate case that both the left and right have lost their faith in ordinary people and must learn to find it again. This is an age of polarization. It's us vs. them. The battle lines are clear, and compromise is surrender. As Out of the Ordinary reminds us, we have been here before. From the 1920s to the 1950s, in a world transformed by revolution and war, extreme ideologies of left and right fueled utopian hopes and dystopian fears. In response, Marc Stears writes, a group of British writers, artists, photographers, and filmmakers showed a way out. These men and women, including J. B. Priestley, George Orwell, Barbara Jones, Dylan Thomas, Laurie Lee, and Bill Brandt, had no formal connection to one another. But they each worked to forge a politics that resisted the empty idealisms and totalizing abstractions of their time. Instead they were convinced that people going about their daily lives possess all the insight, virtue, and determination required to build a good society. In poems, novels, essays, films, paintings, and photographs, they gave witness to everyday people's ability to overcome the supposedly insoluble contradictions between tradition and progress, patriotism and diversity, rights and duties, nationalism and internationalism, conservatism and radicalism. It was this humble vision that animated the great Festival of Britain in 1951 and put everyday citizens at the heart of a new vision of national regeneration. A leading political theorist and a veteran of British politics, Stears writes with unusual passion and clarity about the achievements of these apostles of the ordinary. They helped Britain through an age of crisis. Their ideas might do so again, in the United Kingdom and beyond.
In explaining how developments in the Kruger National Park have been integral to the wider political and socio-economic concerns of South Africa, this text opens an alternative perspective on its history. Nature protection has evolved in response to a variety of stimuli including white self-interest, Afrikaner nationalism, ineffectual legislation, elitism, capitalism and the exploitation of Africans.
One of TIME magazine's All-TIME 100 Best Nonfiction Books One of Times Literary Supplement's Hundred Most Influential Books Since the War One of National Review's 100 Best Nonfiction Books of the Century One of Intercollegiate Studies Institute's 50 Best Books of the 20th Century How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of an immensely influential economic philosophy--one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. First published in 1962, Friedman's Capitalism and Freedom is one of the most significant works of economic theory ever written. Enduring in its eminence and esteem, it has sold nearly a million copies in English, has been translated into eighteen languages, and continues to inform economic thinking and policymaking around the world. This new edition includes prefaces written by Friedman for both the 1982 and 2002 reissues of the book, as well as a new foreword by Binyamin Appelbaum, lead economics writer for the New York Times editorial board.
With Britain's empire collapsing and Stalin's ascendant, U.S. officials under new Secretary of State George C. Marshall set out to reconstruct western Europe as a bulwark against communist authoritarianism. Their massive, costly, and ambitious undertaking would confront Europeans and Americans alike with a vision at odds with their history and self-conceptions. In the process, they would drive the creation of NATO, the European Union, and a Western identity that continues to shape world events. This is the story behind the birth of the Cold War, and the U.S.-led liberal global order, told with verve, insight, and resonance for today. Bringing to bear fascinating new material from American, Russian, German, and other European archives, Benn Steil's book will forever change how we see the Marshall Plan. Focusing on the critical years 1947 to 1949, Steil's gripping narrative takes us through the seminal episodes marking the collapse of postwar U.S.-Soviet relations: the Prague coup, the Berlin blockade, and the division of Germany. In each case, Stalin's determination to crush the Marshall Plan and undermine American power in Europe is vividly portrayed. And in a riveting epilogue, Steil shows how the forces which clove Europe in two after the Second World War have reasserted themselves since the collapse of the Soviet Union. A polished and masterly work of historical narrative, The Marshall Plan is an instant classic of Cold War literature.
The global financial crisis in 2008 brought central banking to the centre stage, prompting questions about the role of national central banks and - in Europe - of the multi-country European Central Bank. What can central banks do, and what are their limitations? How have they performed? Currency, Credit and Crisis seeks to provide a coherent perspective on the functions of a central bank in a small country by assessing the way in which Ireland's financial crisis from 2010 to 2013 was handled. Drawing on his experiences as Governor of the Central Bank of Ireland and in research and policy work at the World Bank, Patrick Honohan offers a detailed analytical narrative of the origins of the crisis and of policy makers' conduct during its most fraught moments.
Why is it that some countries become rich while others remain poor? Do markets require regulation to function efficiently? If markets offer an efficient way of exchanging goods, why do individuals even create firms? How are economic transactions organized in the absence of a state that could enforce contracts and guarantee property rights? Institutional economics has allowed social scientists to answer many fundamental questions about the organization and functioning of societies. This introduction to institutional economics is concise, yet easy to understand. It not only caters to students of economics but to anybody interested in this topical research area and its specific subfields. Both formal and informal institutions (such as customs, habits, and traditions) are discussed with respect to their causes and consequences, highlighting the important part they play for economic growth and development.
This lively book takes Oklahoma history into the world of Wild West
capitalism. It begins with a useful survey of banking from the
early days of the American republic until commercial patterns
coalesced in the East. It then follows the course of American
expansion westward, tracing the evolution of commerce and banking
in Oklahoma from their genesis to the eve of statehood in 1907.
The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system.
Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.
Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity.
Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.
The economist and historian Deirdre Nansen McCloskey has been best known recently for her Bourgeois Era trilogy, a vigorous defense, unrivaled in scope, of commercially tested betterment. Its massive volumes, The Bourgeois Virtues, Bourgeois Dignity, and Bourgeois Equality, solve Adam Smith's puzzle of the nature and causes of the wealth of nations, and of the moral sentiments of modernity. The world got rich, she argues, not chiefly by material causes but by an idea and a sentiment, a new admiration for the middle class and its egalitarian liberalism. For readers looking for a distillation of McCloskey's magisterial work, Leave Me Alone and I'll Make You Rich is what you've been waiting for. In this lively volume, McCloskey and the economist and journalist Carden bring together the trilogy's key ideas and its most provocative arguments. The rise of the west, and now the rest, is the story of the rise of ordinary people to a dignity and liberty inspiring them to have a go. The outcome was an explosion of innovation after 1800, and a rise of real income by an astounding 3,000 percent. The Great Enrichment, well beyond the conventional Industrial Revolution, did not, McCloskey and Carden show, come from the usual suspects, capital accumulation or class struggle. It came from the idea of economic liberty in Holland and the Anglosphere, then Sweden and Japan, then Italy and Israel and China and India, an idea that bids fair in the next few generations to raise up the wretched of the earth. The original shift to liberalism arose 1517 to 1789 from theological and political revolutions in northwest Europe, upending ancient hierarchies. McCloskey and Carden contend further that liberalism and "innovism" made us better humans as well as richer ones. Not matter but ideas. Not corruption but improvement. Leave Me Alone and I'll Make You Rich draws in entertaining fashion on history, economics, literature, philosophy, and popular culture, from growth theory to the Simpsons. It is the perfect introduction for a broad audience to McCloskey's influential explanation of how we got rich. At a time when confidence in the economic system is under challenge, the book mounts an optimistic and persuasive defense of liberal innovism, and of the modern world it has wrought.
The First World War left a legacy of chaos that is still with us a century later. Why did European leaders resort to war and why did they not end it sooner? Roger L. Ransom sheds new light on this enduring puzzle by employing insights from prospect theory and notions of risk and uncertainty. He reveals how the interplay of confidence, fear, and a propensity to gamble encouraged aggressive behavior by leaders who pursued risky military strategies in hopes of winning the war. The result was a series of military disasters and a war of attrition which gradually exhausted the belligerents without producing any hope of ending the war. Ultimately, he shows that the outcome of the war rested as much on the ability of the Allied powers to muster their superior economic resources to continue the fight as it did on success on the battlefield.
This defining and original book explores the history of monopoly power and of its relation to competition, focusing on the innovative contributions of the Italian marginalists - Pareto, Pantaleoni, De Viti de Marco and Barone. Manuela Mosca analyses their articulate vision of competition, and the structural and strategic entry barriers considered in their works to enrich existing literature on the history of the sources of market power. The book is not limited to the reconstruction of the elaboration of pure theory, it also highlights its policy implications and how this group applied their theories as cutting-edge experiments in analysing the labour market, socialism, the Great War and gender issues, against the background of the political situation of the period. Monopoly Power and Competition is a vital resource for historians of economic thought, as it explores a relatively untouched area of microeconomics from a historical perspective, and reveals the theories surrounding monopoly power and competition. Microeconomists and industrial organisation scholars would similarly benefit from the knowledge of the origins of many microeconomic tools and notions
Very Short Introductions: Brilliant, Sharp, Inspiring Anchored in the principles of free-market economics, neoliberalism emerged in the 1990s as the world's most dominant economic paradigm. It has been associated with various political leaders from Ronald Reagan, Margaret Thatcher, and Bill Clinton, to Tony Blair, Barack Obama, and Manmohan Singh. Neoliberalism even penetrated deeply into communist China's powerful economic system. However, the 2008 Global Financial Crisis and the related European Sovereign Debt Crisis triggered a decade of economic volatility and insecurity that boosted the fortunes of the 1 per cent while saddling the 99 per cent with stagnant wages and precarious work. As a result of this Great Recession, neoliberalism fortunes have waned considerably. This downward trend further accelerated with the recent surge of national populism around the world that brought to power outspoken critics of neoliberalism like Donald Trump, Boris Johnson, Jair Bolsonaro, and Narendra Modi. Is neoliberalism doomed or will it regain its former glory? And what are the major types of neoliberalism, and how did they evolve over the decades? Responding to these crucial questions, this Very Short introduction explores the considerable variations of neoliberalism around the world, and discusses the origins, evolution, and core ideas of neoliberalism. This new edition brings the story of neoliberalism up to date, and asks whether new versions of neoliberalism might succeed in drowning out the rising tide of national populism and its nostalgic longing for a return to territorial sovereignty and national greatness. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
"Chronicles reforms, revolutions, and wars through the lens of institutions, often rebutting Western impressions...[And] warns against thinking of China's economic success as proof of a unique path without contextualizing it in historical specifics." -New Yorker "This thoughtful, probing interpretation is a worthy successor to the famous histories of Fairbank and Spence and will be read by all students and scholars of modern China." -William C. Kirby, coauthor of Can China Lead? It is tempting to attribute the rise of China to recent changes in political leadership and economic policy. But China has had a long history of creative adaptation and it would be a mistake to think that its current trajectory began with Deng Xiaoping. In the mid-eighteenth century, when the Qing Empire reached the height of its power, China dominated a third of the world's population. Then, as the Opium Wars threatened the nation's sovereignty and the Taiping Rebellion ripped the country apart, China found itself verging on free fall. In the twentieth century China managed a surprising recovery, rapidly undergoing profound economic and social change, buttressed by technological progress. A dynamic story of crisis and recovery, failures and triumphs, Making China Modern explores the versatility and resourcefulness that has guaranteed China's survival in the past, and is now fueling its future.
"A fascinating history of corporate America's efforts to shape our habits and desires." -Sean Illing, Vox "[A] compulsively readable book about bad habits becoming big business...In crisp and playful prose and with plenty of needed humor, Courtwright has written a fascinating history of what we like and why we like it, from the first taste of beer in the ancient Middle East to opioids in West Virginia." -American Conservative "A sweeping, ambitious account of the evolution of addiction...This bold, thought-provoking synthesis will appeal to fans of 'big history' in the tradition of Guns, Germs, and Steel." -Publishers Weekly "A mind-blowing tour de force that unwraps the myriad objects of addiction that surround us daily...This intelligent, incisive, and sometimes grimly entertaining book will become the standard work on the subject." -Rod Phillips, author of Alcohol: A History We live in an age of addiction, from compulsive gaming and shopping to binge eating and opioid abuse. Sugar can be as habit-forming as cocaine, researchers tell us, and social media apps are deliberately hooking our kids. But what can we do to resist temptations that insidiously rewire our brains? A renowned expert on addiction, David Courtwright reveals how global enterprises have both created and catered to our addictions. The Age of Addiction chronicles the triumph of what he calls "limbic capitalism," the growing network of competitive businesses targeting the brain pathways responsible for feeling, motivation, and long-term memory.
From the early 1960s until his death in 1994, Alec Nove was one of the world's leading authorities on Russian and Soviet economic history. This Routledge Revivals collection brings together six of his most essential books on the Soviet Economy, taken from across the full breadth of his eminent career.
Written between 1961 and 1989, this definitive collection covers Soviet economic history from the height of the Cold War through to the cultural renaissance of Glasnost in the late 1980s. From Joseph Stalin through to Mikhail Gorbachev, via an exploration of Soviet political economy, efficiency, Socialism and development, this is a truly wide-ranging reissued collection, which will be a delight to Soviet economists and historians.
Between the end of the Middle Ages and the early nineteenth century, the long-established structures and practices of European trade, agriculture, and industry were disparately but profoundly transformed. Revised, updated, and expanded, this second edition of Transitions to Capitalism in Early Modern Europe narrates and analyses the diverse trends that greatly enlarged European commerce, permanently modified rural and urban production, gave birth to new social classes, remade consumer habits, and altered global economic geographies, culminating in capitalist industrial revolution. Broad in chronological and geographical scope and explicitly comparative, Robert S. DuPlessis' book introduces readers to a wealth of information drawn from throughout Eastern, Western and Mediterranean Europe, as well as to classic interpretations, current debates, new scholarship, and suggestions for further reading.
A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the modern history of the global economic system seems to support the long-held view that the leading world power's currency--the British pound, the U.S. dollar, and perhaps someday the Chinese yuan--invariably dominates international trade and finance. In How Global Currencies Work, three noted economists provide a reassessment of this history and the theories behind the conventional wisdom. Offering a new history of global finance over the past two centuries, and marshaling extensive new data to test established theories of how global currencies work, Barry Eichengreen, Arnaud Mehl, and Livia Chit?u argue for a new view, in which several national monies can share international currency status, and their importance can change rapidly. They demonstrate how changes in technology and in the structure of international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. They show that multiple international and reserve currencies have in fact coexisted in the pastupending the traditional view of the British pound's dominance prior to 1945 and the U.S. dollar's dominance more recently. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, from whether the euro and the Chinese yuan might address their respective challenges and perhaps rival the dollar, to how increased currency competition might affect global financial stability.
How did the fact become modernity's most favored unit of knowledge?
How did description come to seem separable from theory in the
precursors of economics and the social sciences?
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