Monetary theory not only provides the tools to analyse monetary arrangements, it also shapes them in an essential way. The selected papers gathered together in this book deal with a variety of topics concerning both aspects of this twofold relationship. A number of controversial issues regarding the demand for money are empirically investigated and the functioning of a cashless economy is clarified by critically assessing the new monetary economics. Filippo Cesarano shows the important role played by monetary theory in shaping the evolution of monetary arrangements. This principle is illustrated by focusing on several issues relating to both current and future developments of monetary institutions: the optimum quantity of money, the international monetary system and monetary unions. Equilibrium models are viewed as a benchmark against which the actual conditions of the economy must be set. Money and Monetary Systems will be of great interest and value to economists specialising in monetary theory and international monetary economics, postgraduate students in economics and economic historians.

This work covers trade policy from 1923 to 1995 taking the history of American tariffs from the Prelude to Trade Wars to the present. It begins during the period of high tariffs and discusses the arguments for and against protectionism. Cordell Hull and the Reciprocal Trade Agreements of the 1930s are discussed along with the increase in trade revenue from these agreements. The major changes in trade policy including GATT, the European Community, and many more are discussed in the work. It is part of an on-going debate among economic historians over the supposed movement of the United States toward protectionism since the 1980s.

James Tobin, 1981 Nobel laureate in economics, was the outstanding monetary economist among American Keynesian economists. This book, the first written about James Tobin, examines his leading role as a Keynesian macroeconomist and monetary economist, and considers the continuing relevance of his ideas.

Out of the ashes of its defeat in World War II, Japan arose to become the foremost economic power in the East Asia and a major player on the world economic stage. How did it do this? This work provides a concise summary and analysis of Japan's emergence as a global economic power. This guide discusses the growth of Japan as an unconventional global power based on the strength of its economy and the softening of its economy in the 1990s. Six topical essays are supported by a timeline of events in postwar Japan, biographical profiles of key players, the text of important primary documents, a glossary of terms, and an annotated bibliography.

Topical essays cover the reprise of the Rising Sun, Japan as a Cold War client, the evolution of Japan as an economic giant, contending with the Communists, pursuing partners in Asia, and Japan as a reactive global power. Biographical sketches of 15 key Japanese political and business leaders, the text of 15 primary documents, a timeline of events, a glossary of terms, and an annotated bibliography suitable for student research provide valuable reference material. Students will benefit from this cogent and readable examination of one of the key developments in the postwar world.

The Economics of Alfred Marshall brings together a number of leading international scholars for a timely reappraisal of Marshall's contribution to the development of economics. The aims of the contributors are firstly to revisit the work of Alfred Marshall and to investigate the unity of his projects, which contemporary authors often tend to underestimate; and secondly to show how Marshall's approach is not only a subject for historians of economic thought, but may also provide a message that is relevant for the progress of economics.

This is the eagerly-awaited first volume of the definitive History of the British Coal Industry. Well before 1700 Britain had become heavily dependent upon coal for its fuel, and coal mining had taken its place among the nation's staple industries. John Hatcher traces the production and trade of coal from the intermittent small-scale activity which prevailed in the Middle Ages to the rapid expansion and rising importance which characterized the early modern era. Thoroughly grounded in a formidable range of sources, the book explores the economics and management of mining, the productivity and profitability of colliery enterprise, and the progress of technology. Dr Hatcher examines the owners and operators of collieries and the sources of mining capital, as well as the colliers themselves, their working conditions and earnings. He argues that the spectacular growth of coal output in this period was achieved more through evolutionary than revolutionary processes. This is a scholarly, detailed, and comprehensive study, which will be an essential source for all historians of the medieval and early modern economy, and fascinating reading for anyone with an interest in the British coal industry.

This collection of essays was commissioned for the fiftieth anniversary of the incorporation of accountants in Scotland, the country in which accountants were first chartered. It attempts to trace the origin and growth of the profession relating to accounts, auditing, and bookkeeping. Topics include ancient systems of accounting; early Italian accountants; accounting in Scotland, England, Ireland, Europe, the British colonies, and the United States; and the future of the profession. Edited by Richard Brown, contributors include John S. Mackay, Edward Boyd, J. Row Fogo, Joseph Patrick, and Alexander Sloan.

This is the first comprehensive economic history of the Basotho people of Southern Africa (in colonial Basutoland, then Lesotho) and spans from the 1820s to the present day. The book documents what the Basotho have done on their own account, focusing on their systematic exclusion from trade and their political efforts to insert themselves into their country's commerce. Although the colonial and post-colonial periods were unfavourable to the Basotho, they have, before and after colonial rule, launched impressive commercial initiatives of their own, which bring hope for greater development and freedom in their struggle for economic independence.

Originally published between 2002 and 2011, the first 6 meticulously researched and extensive volumes of this set cover a vast period of US financial and economic history, from the 'discovery' of America, through Civil War, Independence, two World Wars, the Great Depression, and on through the turbulent 20th and early 21st Centuries. An entirely new volume brings the series up to date to the Pandemic of 2020. Carefully documented and lucidly written by Jerry W. Markham, these volumes give an unparalleled insight into financial scandals; corporate governance issues; the development of US securities, derivative and mortgage markets; housing boom and bust and stock market panics. The final (entirely new) 7th volume is divided into three chronological sections: the first section describes the recovery of financial markets after the Great Recession. It begins with an overview of the state of the economy at the start of the new decade, including some of the political storms affecting the economy and financial markets. The second section sets forth regulatory responses to the Financial Crisis of 2008, including the massive fines imposed on large banks by a swarm of regulators. The third section describes the rules adopted under the Dodd-Frank Act of 2010 that broadly affected financial markets. It also recounts the Trump trade wars and ends with an account of the financial and economic turmoil that occurred during the Covid-19 pandemic in 2020.

Since 1971, when the Bretton Woods gold exchange standard ended, the world has been on a fiat monetary regime, with various fiat currencies managed according to the discretion of the issuing country. Inherent in this regime is a basic problem--the ease with which the system lends itself to political manipulation. This study examines the emerging fiat regime in a world of nation states determined to preserve their sovereignty from erosion by the global economy and places this process in its economic, historical, and political perspective.

This work is the second in a series examining the changing nature of one of the United States most important relationships, the ANZUS Alliance, linking the U.S., Australia, and New Zealand. The volume describes the evolution of the three countries respective domestic economic structures, international economic orientations, and relationships with each other in the period since World War II. The study concludes that the most significant common economic interest of the three is the preservation and strengthening of an open international economic order and trading system, an interest sorely tested in the present difficult economic times. Still, the experts here find that Australia, New Zealand, and the U.S. must match trends toward greater economic interdependence with workable mechanisms and concerted action to achieve their truly common interests in the international economic system.

This important work will be of interest to scholars in international relations, generally, and international economic systems, specifically.

The oil price collapse of 1985-6 had momentous global consequences: non-fossil energy sources quickly became uncompetitive, the previous talk of an OPEC 'imperium' was turned upside-down, the Soviet Union lost a large portion of its external revenues, and many Third World producers saw their foreign debts peak. Compared to the much-debated 1973 `oil shock', the `countershock' has not received the same degree of attention, even though its legacy has shaped the present-day energy scenario. This volume is the first to put the oil `counter-shock' of the mid-1980s into historical perspective. Featuring some of the most knowledgeable experts in the field, Counter-Shock offers a balanced approach between the global picture and local study cases. In particular, it highlights the crucial interaction between the oil counter-shock and the political `counterrevolution' against state intervention in economic management, put forward by Ronald Reagan and Margaret Thatcher in the same period.

This is the story of 'the greatest book' written in the English language. The First Folio (1623) was the first collection of Shakespare's drama, and the only source for half the plays. The present volume traces the Folio's sales and prices from one pound in the seventeenth century to over half a million pounds today. Counting the extant copies and showing their worldwide distribution, it also indicates their history of ownership - ranging from country parson to President of Standard Oil.

Every school and public library should update its resources on Spain with this lively and succinct narrative of Spain's long and rich historical experience. Emphasizing people rather than abstract developments, this narrative makes Spanish history readable and engaging. Based on the most recent scholarship, it examines the politics, society, economy, and culture of Spain chronologically, focusing on the last two centuries. Pierson, a noted authority on Spanish history, traces Spain's foundations in the Roman empire and Muslim conquest to its golden age in the late Middle Ages, its subsequent decline, and its struggle to build a democratic government and modern economy following the dictatorship of Francisco Franco. The work provides a timeline of events in Spanish history, brief biographies of key figures, and a bibliographic essay of interest to students and general readers.

An introductory chapter offers an overview of Spain today, its geography, government and politics, economy, religion, and culture. The next few chapters discuss its earliest cultures, its place in the Roman empire, its Christianization and years as a Germanic kingdom, and its incorporation in 711 C.E. by military conquest into the world of Islam. The energies developed in the Christian reconquest of Spain led to its embarkation on the conquest of an overseas empire in the Americas and the Philippines that lasted for more than 300 years and had a profound effect on global history. The interests of the Habsburg (1516-1700) and Bourbon (1700-1808, 1814-1868, and 1875-1931) dynasties on the Spanish throne made Spain a major player in European power politics into the years of the French Revolution and Napoleonic wars. By 1825, its resources drained, Spain painfully adjusted to straightened circumstances, endured civil wars and dictatorships, and struggled to build a democratic government and modern economy, which it has accomplished today.

Based on long-term research, this book comprehensively and systematically discusses the industrialization process in China, analyzing the level, characteristics, achievements and experiences as well as the problems faced. It also provides answers to important questions related to economic development and the industrialization process in China, such as what level of industrialization China has achieved and whether China can become an industrialized country. Lastly, it offers an explanation of China's economic development from the perspective of industrialization.

As interest in financial markets intensifies, stimulated by the financial crisis of the early twenty-first century, this book aims to enrich our understanding of the workings and history of financial centres in the nineteenth and twentieth centuries, and the determinants of their success and failure.
The book brings together leading authorities in the field to examine the direction of international capital flows historically in light of the nature of the banking system, market organization, the regulatory framework, and contextual political and diplomatic factors. Contributions discuss competition, collaboration, withdrawal, and re-emergence of financial centres in Europe, America, and Asia over the past two centuries.
Written from a historical perspective but taking full account of recent studies in financial economics, the book, with contributions from leading international scholars, provides new research and approaches to a highly topical issue and sheds light on the recent financial crisis and its aftermath.

The essays in this volume explore several key issues facing democracies today. They discuss the dilemma of how to protect civil liberties and individual freedoms in the light of external threats and assess the policies adopted by governments in this area. The book also addresses the question of how free, exactly, free markets should be in an economy in order to secure social peace, before going on to highlight the rudiments of the model of social market economy, as applied in Germany. It examines the problem of the democratic and legitimacy deficits that beset European integration and suggests reforms for a more democratic European Union. Last but not least, by looking back in history, they provide evidence and propose policies for the revitalization of institutions in present-day democracies. The book is of considerable interest to researchers and students in economics and political science, as well as to readers who wish to gain insights into the thorny social issues involved.

Understanding the American stock market boom and bust of the 1920s is vital for formulating policies to combat the potentially deleterious effects of busts on the economy. Using new data, Kabiri explains what led to the 1920s stock market boom and 1929 crash and looks at whether 1929 was a bubble or not and whether it could have been anticipated.

This book tells the story behind President Franklin D. Roosevelt's use of the phrase "living wage" in a variety of speeches, letters, and statements, and examines the degree to which programs of the New Deal reflected the ideas of a living wage movement that existed in the US for almost three decades before Roosevelt was elected president. Far from being a side issue, the previously unexplored living wage debate sheds light on the New Deal philosophy of social justice by identifying the value judgments behind its policies. Moving chronologically through history, this book's highlights include the revelation of a living wage agenda under the War Industry Board (WIB)'s National War Labor Board (NWLB) during World War I, the unearthing of long-forgotten literature from the 1920s and 30s that formed the foundation of Roosevelt's statements on a living wage, and the examination of contemporary studies that used a simple living wage formula combining collective bargaining, social insurance, and minimum wage as a standard for social justice used to measure the impact of New Deal polices.