Years of Recovery was the first comprehensive study of the transition from war to peace in the British economy under the Labour government of 194551. It includes a full account of the successive crises and turning-points in those hectic years the coal and convertibility crises of 1947, devaluation in 1949 and rearmament in 1951. These episodes, apart from their dramatic interest, light up the dilemmas of policy and the underlying economic trends and pressures in a country delicately poised between economic disaster and full recovery. Many of the debates on economic policy that are still in progress on incomes policy, demand management, the welfare state and relations with Europe, for example have their roots in those years. Many of the trends originating then persisted long afterwards.
The book also examines the interaction between events and policy and the role in a managed economy of the policy-making machine. Now that the public records are open to 1954, it has been possible to make use of official documents to review the possibilities of action that were canvassed and the thinking and differences of opinion that underlay ministerial decisions. Combining personal involvement with thorough research, this fascinating study will be a major contribution to our understanding of post-war economic policy.
Alec Cairncross was Chancellor of the University of Glasgow and a former Master of St Peters College, Oxford. He spent the years covered by this volume as a civil servant in London, Berlin and Paris before moving to Glasgow as Professor of Applied Economics. This classic book of some of his most brilliant research was first published in 1985.

"Trillions for Military Technology "explains why the weapons purchased by the U.S. Department of Defense cost so much, why it takes decades to get them into production even as innovation in the civilian economy becomes ever more frenetic, and why some of those weapons don't work very well despite expenditures of many billions of dollars. It also explains what do about these problems. The author argues that the internal politics of the armed services make weapons acquisition almost unmanageable. Solutions require empowering civilian officials and reforms that will bring choice of weapons "into the sunshine" of public debate.

This book features 13 Japanese entrepreneurs who made a significant contribution to the development of society from 1868, when modernization in Japan began, to the 1950s, after World War II. They worked on solving social issues at the time through their businesses and succeeded in creating social value by solving social issues and economic value through the development of their businesses. The business philosophies they practiced have been passed on to their successors, and the companies they founded are now providing value to consumers around the world. Those 13 entrepreneurs anticipated the integration of solving social issues into corporate management, which modern companies are expected to realize under the umbrella of the Sustainable Development Goals (SDGs) adopted by United Nations in 2015. Their trajectories provide a wealth of practical knowledge necessary to survive in a changing society and provide many valuable lessons for modern companies and their managers.

This book provides a scholarly but accessible account of British regional development during the twentieth century, focusing on the emergence and development of theNorth-South divide. Beginning with regional imbalance in the Victorian and Edwardian economies, the book goes on to discuss the effects on the First World War and its aftermath, which created a discernible split between the depressed North and West, and the relatively prosperous South. Attention is also paid to the impact of government policy on regional development during the interwar years and beyond, and factors affecting industrial location in this period.

Offering a fresh take on a crucial phase of European history, this book explores the years between the 1980s and 1990s when the European Union took shape. Whilst contributing to existing literature on the Maastricht Treaty and European integration at the end of the twentieth century, the book also brings those debates into the twenty-first century and makes connections with longer-term issues. The transformation of the European political climate in the wake of the global financial crisis in 2008, and the watershed Brexit vote in 2016, has made it all the more urgent to reconsider the way scholars and opinion-makers have looked at European integration in the past. Drawing from recently released archival documents, the authors analyse European cooperation as part of the broader international history in which it unfolded, taking into account the changes in the Cold War order and the advance of a new phase of globalisation. Comparing and contrasting the debates, objectives and achievements of the 1980s and 1990s with the current political landscape of the European Union, this book proposes a novel interpretation of the choices that were made during the Maastricht years, and of their longer-term consequences.

The first volume in a new series examines German foreign policy towards Eastern Europe from 1890 to 1960, through a narrower focus on its trade policy actions with Poland, Czechoslovakia, and Imperial Russia/Soviet Union.

Imperial Rome has a name for wealth and luxury, but was the economy of the Roman Empire as a whole a success, by the standards of pre-modern economies? In this volume W. V. Harris brings together eleven previously published papers on this much-argued subject, with additional comments to bring them up to date. A new study of poverty and destitution provides a fresh perspective on the question of the Roman Empire's economic performance, and a substantial introduction ties the collection together. Harris tackles difficult but essential questions, such as how slavery worked, what role the state played, whether the Romans had a sophisticated monetary system, what it was like to be poor, whether they achieved sustained economic growth. He shows that in spite of notably sophisticated economic institutions and the spectacular wealth of a few, the Roman economy remained incorrigibly pre-modern and left a definite segment of the population high and dry.

Economic themes underlie many aspects of Native American history from the fur trade, the devastating impact of European diseases, and the taking of Native American land to the current issues of uranium mining on Navajo land and casino gambling. Yet this is the first encyclopedia to analyze Native American history against an economic background. Describing the impact of Euro-American settlement from a Native American perspective, the book profiles the economies of roughly forty Native American tribes and nations from pre-Columbian times to the present. Other entries focus on demographics, such historical issues as the Allotment Act of 1887, and modern efforts at economic development. The book provides a valuable guide to an important area in Native American Studies and American economic history. Basing entries on Native nations, the work includes peoples living in present-day Canada, Mexico, Guatemala, and the United States. Along with nation profiles, the book includes historical information on demographics, economic conditions on reservations, and the economic basis for present-day attempts to increase Native American sovereignty. It is a concise, readable account of Native American history in a format suitable for undergraduates.

After a century and a half of efforts at constructing arrangements and rules for international monetary interaction, present-day national authorities do not seem to have come much closer to achieving the aim of enduring exchange rate stability combined with a good macroeconomic performance. A distinguished group of economists and economic historians offers new insights into the working of the most important of such experiences, including nineteenth century bimetallism, the 'classical' gold standard, Bretton Woods and the European Monetary System.

For over a hundred years the Japanese have looked to the West for ideas, institutions and technology that would help them achieve their goal of 'national wealth and strength'. In this book a distinguished historian of Japan discusses Japan's 'cultural borrowing' from America and Europe. W. G. Beasley focuses on the mid-nineteenth century, when Japan's rulers dispatched diplomatic missions to the West to discover what Japan needed to learn, sent students abroad to assimilate information and invited foreign experts to Japan to help put the knowledge to practical use. Beasley examines the origins of the decision to initiate direct study of the West at a time when western countries counted as 'barbarian' by Confucian standards. Drawing on many colourful letters, diaries, memoirs and reports, he describes the missions sent overseas in 1860 and 1862, in 1865-1867 and in the years after 1868, in particular the prestigious embassy led by Iwakura in 1871-1873. The book also tells the story of the several hundred students who went overseas in this period. It concludes by assessing the impact of the encounters on the subsequent development of Japan, first by examining the later careers of the travellers and the influence they exercised (they included no fewer than six prime ministers of the late nineteenth and early twentieth centuries), and then by considering the nature of the ideas they brought home.

This 1989 book examines the experience of British business in Asia since 1860. Following a wide-ranging introduction by the editors, there are essays by leading specialist historians on British business in Iran, India, Thailand, Malaysia, China, Russian Asia and Japan. The primary focus is on the impact of British commerce in the region, and the essays, based on research in British business archives and government papers, discuss the activities and performance of British companies. However, the book seeks to avoid a 'Euro-centred' approach by using Asian as much as British sources and by paying particular attention to the indigenous response to British commercial activity. The secondary theme is the relationship between British business and British and foreign government. The book, therefore, contributes to the wider debate on the business aspects of imperialism. In general, the essays, although drawing on extensive research in primary sources, are written as general surveys, and are thus easily accessible to non-specialists and students.

This revised and expanded book focuses on Hilferding's major work, Finance Capital. In revisiting this influential book from a methodological point of view, both historical and intellectual, the authors affirm Hilferding's place in the Marxist tradition. Hilferding's ideas are used to criticise incumbent approaches in economics and enrich existing discussions and debates about the nature of modern capitalism. In doing so, this book highlights the importance of Hilferding's work in analysing and understanding modern capitalism and corporate developments. New material looking at Hilferding's economic journalism, debates around his work in Poland, and Eugene Varga's perspective on his work is also included.The book aims to explore Hilferding's central ideas on the political economy, as well as its historical context and relation to Marx. It will be relevant to students and researchers interested in the political economy, the history of economic thought, and European politics.

Despite its strategic location, squeezed between the West and Russia, the Ukraine has remained an unknown land since gaining its independence in 1991. This book presents theoretical and empirical investigation of the impact of human capital on economic growth in Ukraine during the period of 1989-2009. It defines place and role of human capital in the process of transition from the exogenous to the endogenous forms of growth.

This third volume of Gyllenbok's encyclopaedia of historical metrology comprises the second part of the compendium of measurement systems and currencies of all sovereign states of the modern World (J-Z). Units of measurement are of vital importance in every civilization through history. Since the early ages, man has through necessity devised various measures to assist him in everyday life. They have enabled and continue to enable us to trade in commonly and equitably understood amounts, and to investigate, understand, and control the chemical, physical, and biological processes of the natural world. The encyclopeadia will be of use not only to historians of science and technology, but also to economic and social historians and should be in every major academic and national library as standard reference work on the topic.

This work examines the role money and debt play in our economy. It shows why we went from the gold standard to fiat money, why that led to increasing inflation up to 1980, and why inflation has receded since 1980. In addition, it explains how today's economic problems arose, why governments cannot solve those problems, and where those problems will lead us. Challenging conventional wisdom, the author suggests that high real interest rates in the 1980s reduced business' ability to profit by expanding productive capacity and reduced the attractiveness of borrowing for consumption. The resulting drive to buy assets instead, such as stocks and real estate, caused rapidly rising prices in those areas. The author foresees a depression resulting from these economic forces--one which governments will be unable to prevent.

This work is unique for it neither espouses any theory nor uses inductive or deductive reasoning; rather, it observes. Its observations of how economic sectors, central banks, governments, business, and consumers can and do use money and debt are trenchant and alarming.

The first monograph on this topic since 1961, this book provides an innovative interpretation of the Friendly Societies in Britain from the perspectives on social, gender and political history. It establishes the central role of the Friendly Societies in the political activism of British workers, changing understandings of masculinity and femininity, the ritualized expression of social tensions and the origins of the welfare state.

There are winners and losers in a capitalistic society, but capitalism does not choose who is a winner and who is a loser. The winners are those who have the right idea, sacrifice their time and money, take risks, work hard, and have a little luck and help along the way. The losers are those who rarely dream of the impossible, waste their time, spend their money foolishly, lack the courage to take risks, and fail to dedicate themselves to achieving the rewards of their efforts. Winners should receive the greatest returns for their investments and the greatest of rewards for their endeavors. While wealth may be distributed unequally, it results more from an unequal dedication to acquire this wealth. That is not only right, but it is fair.

At the heart of capitalism is choice, one of success or failure, saving or spending, and work or recreation. Capitalism is a system that allows a person to choose whether he or she wants to be a winner or a loser. Today, too many have chosen the latter and display the unbecoming traits of greed, jealously, and envy toward those who have chosen the former.

While insecurity and instability may pervade this country's economic, political and societal institutions, success can still be achieved by those who look forward rather than backward, who avoid the disadvantages of the past to take advantage of the future. In "The Choices and Consequences of Our Age," you'll learn that it's still possible to achieve success through hard work, sacrifice, and self-reliance.

The industrial revolution stands out as a key event not simply in British history, but in world history, ushering in as it did a new era of sustained economic prosperity. But what exactly was the 'industrial revolution'? And why did it occur in Britain when it did? Ever since the expression was coined in the 19th century, historians have been debating these questions, and there now exists a large and complex historiography concerned with English industrialisation. This short history of the British Industrial Revolution, aimed at undergraduates, sets out to answer these questions. It will synthesise the latest research on British industrialisation into an exciting and interesting account of the industrial revolution. Deploying clear argument, lively language, and a fresh set of organising themes, this short history revisits one of the most central events in British history in a novel and accessible way. This is an ideal text for undergraduate students studying the Industrial Revolution or 19th Century Britain.

A Financial Times Best Book of the Year "A must-read, with key lessons for the future."-Thomas Piketty A groundbreaking examination of austerity's dark intellectual origins. For more than a century, governments facing financial crisis have resorted to the economic policies of austerity-cuts to wages, fiscal spending, and public benefits-as a path to solvency. While these policies have been successful in appeasing creditors, they've had devastating effects on social and economic welfare in countries all over the world. Today, as austerity remains a favored policy among troubled states, an important question remains: What if solvency was never really the goal? In The Capital Order, political economist Clara E. Mattei explores the intellectual origins of austerity to uncover its originating motives: the protection of capital-and indeed capitalism-in times of social upheaval from below. Mattei traces modern austerity to its origins in interwar Britain and Italy, revealing how the threat of working-class power in the years after World War I animated a set of top-down economic policies that elevated owners, smothered workers, and imposed a rigid economic hierarchy across their societies. Where these policies "succeeded," relatively speaking, was in their enrichment of certain parties, including employers and foreign-trade interests, who accumulated power and capital at the expense of labor. Here, Mattei argues, is where the true value of austerity can be observed: its insulation of entrenched privilege and its elimination of all alternatives to capitalism. Drawing on newly uncovered archival material from Britain and Italy, much of it translated for the first time, The Capital Order offers a damning and essential new account of the rise of austerity-and of modern economics-at the levers of contemporary political power.

The book analyses the establishment of De Nederlandsche Bank and its early development as a case study to test competing theories on the historical development of central banking. It is shown that the establishment of DNB can be explained by both the fiscal theory and the financial stability theory. Later development makes clear that the financial stability role of DNB prevailed. DNBs bank notes were not forced onto the public and competition was fierce. A prudent and independent stance was necessary to be able to play its intended role. This meant that DNB played a modest role in the Amsterdam money market until 1852. By 1852 it had established itself to become the central bank. By then its bank notes had become generally accepted and it could start to operate as a reserve bank. Also the market context had changed dramatically, its competitors had been driven out of the market and several credit institutions had become customers of DNB. "On the occasion of the Nederlandsche Bank's 200th Anniversary, it is good to have a new, and an extremely good, history of its founding and first fifty years of operation. The only previous account of this period of the DNB's history was legalistic and did not sufficiently place the Banks development in its wider context. Uittenbogaard's book provides a much broader, and better, story of the personnel, economics, and finance of the DNB at this juncture." - Charles Goodhart, LSE.

This important new study of Palestine in the years 1882 to 1948 looks at the formation of the Jewish working class and its pivotal and deliberate role in the forging of a nation. Drawing on historical studies as well as neo-Marxist theory, Professor Ben-Porat adds both empirical information and new critical perspectives to our understanding of class formation and of the unique historical circumstances attendant on the creation of modern Israel.

German economic crises from the past two hundred years have provoked diverse responses from journalists, politicians, scholars, and fiction writers. Among their responses, storylines have developed as proposals for reducing unemployment, improving workplace conditions, and increasing profitability when stock markets tumble, accompanied by inflation, deflation, and overwhelming debt. The contributors to Invested Narratives assess German-language economic crisis narratives from the interdisciplinary perspectives of finance, economics, political science, sociology, history, literature, and cultural studies. They interpret the ways German society has tried to comprehend, recover from, and avoid economic crises and in doing so widen our understanding of German economic debates and their influence on German society and the European Union.

In addition to winning the 2009 Nobel Prize in Economic Sciences for her path-breaking research on "economic governance, especially the commons," Elinor (Lin) Ostrom also made important contributions to other fields of political economy and public policy. This four-volume compendium of papers written by Lin (often with coauthors, most notably her husband, Vincent), along with papers by others expanding on her work, brings together the strands of her entire empirical, analytical, theoretical, and methodological research program. Together with Vincent's important theoretical contributions, they defined a distinctive "Bloomington School" of political-economic thought. Volume 3 explores the historical development of the Institutional Analysis and Development (IAD) framework, illustrates its application to a wide range of specific policy problems, and highlights recent extensions that ensure it will remain a vibrant focus of research for years to come. The IAD framework emerged from a long series of interdisciplinary collaborative research projects, but the guiding figure in its development was Elinor Ostrom. Anyone familiar with the full range of her research will recognize common presuppositions and themes for which she used the IAD framework as an organizing device. This book collects examples of policy-relevant applications of IAD to a wide range of policy sectors. In a fundamental sense, the IAD framework helps us understand how Ostrom's mind worked when she approached a particular problem of policy, and it highlights those factors that she asserted needed to be considered in any complete analysis. Unfortunately, she did not leave us a complete or definitive guidebook on how to apply this framework. This volume collects important components of such a guidebook from a wide range of sources, including previously unpublished papers, and as such it should help anyone seeking to use this framework to analyze a variety of policy areas.

This book provides a comprehensive overview and some economic analysis of China's economic reform experiences, particularly those since the late 1980s. It covers many institutional details of key aspects of the Chinese economy, including fiscal and monetary management, financial sector development, state-enterprise reform, international trade, foreign investment, decentralization and regional development. It is argued that while China has achieved a spectacular growth record over the past twenty years, and its reform efforts have successfully laid the foundation of a market-based economic management system, the country continues to face major challenges in sustaining its growth performance.