British monetary policy was reactivated in 1951 when short-term interest rates were increased for the first time in two decades. The book explores the politics of formulating monetary policy in the 1950s and the techniques of implementing it, and discusses the parallels between the present monetary situation and that of 1951.

The easy money that flowed through the banking system prior to 2008 fuelled a boom in buy-outs. Now it is gone, how will the private equity industry reinvent itself? This book features a series of interviews with some of the most respected and innovative firms and gives rare insights to the strategies that will drive this secretive sector over the next economic cycle.

Physiocracy, or the economic theory that a nation's wealth comes from is agricultural and land development, was a popular school of thought in France in the 18th century. The contribution and significance of the Physiocrats and Antiphysiocrats are explored in detail through chapter contributions by economists, philosophers, and social historians. The book concludes that neither the Physiocrats, nor the Antiphysiocrats were pure profit maximizers and that they all had the well-being of the commonwealth in mind. It brings to light previous studies only conducted in German and is the first analysis of Pfeiffer in a century, making the book of interest to any student or scholar of political economy and the history of economic thought. The contribution and significance of the Physiocrats and Antiphysiocrats are explored in detail through chapter contributions by economists, philosophers, and social historians. It brings to light previous studies only conducted in German and is the first analysis of Pfeiffer in a century, making the book of interest to any student or scholar of political economy and the history of economic thought.

In the quarter century since its emergence from military rule and integration into the global economy, Bangladesh's economy has achieved high growth, reduced aid dependence and made remarkable improvement in social indicators while at the same time it continues to suffer from increasing inequality. This book analyses these successes and failures.

In Submarine Telegraphy and the Hunt for Gutta Percha, Helen Godfrey traces the connections between submarine telegraphy and the peoples of Singapore and Sarawak (Borneo) who supplied 'gutta percha', the latex insulating the world network of undersea telegraph cables. The book examines the complex inter-relationships linking metropolitan and local environments in a trade once described as a matter of interest to the whole civilized world. Using previously untapped corporate and official archives, trade data and a rich documentary record, the study explores the roles of cable producers, scientists, administrators, and local Chinese and indigenous traders. It reveals how a global trade may transcend technological, geographic and cross-cultural challenges, even hostilities. Motivations and outcomes are more complex than simple commercial gain.

Tourists are today urged to visit the 'birthplace of the Industrial Revolution', packaged as part of 'a glorious heritage'. Half a century and more ago the picture was very different. Then the Industrial Revolution was commonly treated as having been a social catastrophe which had brought 'a new barbarism' to the country. Donald Coleman traces the history of the term 'Industrial Revolution' and the uses to which it has been put. Originating in European radical Romanticism, popularised in English by Arnold Toynbee in the 1 880s, it has achieved, with its meaning transformed, the status of potent myth in the nation's history. The book examines industrial revolutions real and imaginary; illuminates some of the activities of businessmen engaged therein; considers attitudes towards the businessmen who have thus come to occupy the historical stage; and discusses the academic study of business history- a subject hardly imaginable without the Industrial Revolution. In the course of investigating these inter-related topics, the volume as a whole offers valuable insights into the ways in which economic history has been written and the concepts which have been invented and deployed in an effort to understand a central event in British history. This book provides an excellent introduction to the subject.

Hayek's philosophical psychology as set out in his The Sensory Order (1952) has, for the most part, been neglected. Despite being lauded by computer scientist grandee Frank Rosenblatt and by Nobel prize-winning biologist Gerald Edelman, cognitive scientists -- with a few exceptions -- have yet to discover Hayek's philosophical psychology. On the other hand, social theorists, Hayek's traditional disciplinary constituency, have only recently begun to take note and examine the importance of psychology in the complete Hayek corpus. This volume brings together for the first time state-of-the-art contributions from neuroscientists and philosophers of mind as well as economists and social theorists, all critically engaging in many aspects of Hayek's philosophical psychology.

A reassessment of the impact of the Hanoverian succession. Was the accession of the Hanoverian dynasty of Brunswick to the throne of Britain and its empire in 1714 merely the final act in the 'Glorious Revolution' of 1688-89? Many contemporaries and later historians thought so, explainingthe succession in the same terms as the earlier revolution - deliverance from the national perils of 'popery and arbitrary government'. By contrast, this book argues that the picture is much more complicated than straightforwardcontinuity between 1688-89 and 1714. Emphasizing the plurality of post-Revolutionary developments, it explores early eighteenth-century Britain in light of the social, political, economic, religious and cultural transformations inaugurated by the 'Glorious Revolution' of 1688-1689 and its ensuing settlements in church, state and empire. The revolution of 1688-89 was much more transformative and convulsive than is often assumed; and the book shows that, although the Hanoverian Succession did embody a clear-cut reaffirmation of the core elements of the Revolution settlement - anti-Jacobitism and anti-popery - its impact on various post-Revolutionary developments in Church, state, Union, intellectual culture, international relations, political economy and empire is decidedly less clear. BRENT S. SIROTA is Associate Professor in the Department of History at North Carolina State University. ALLAN I. MACINNES is Emeritus Professor of History at the University of Strathclyde. CONTRIBUTORS: James Caudle, Megan Lindsay Cherry, Christopher Dudley, Robert I. Frost, Allan I. Macinnes, Esther Mijers, Steve Pincus, Brent S. Sirota, Abigail L. Swingen, Daniel Szechi, Amy Watson

For the first two thirds of the twentieth century, British government was among the most stable in the world. In the last three decades it has been a leader in innovation and its governing system has been in constant turmoil. This book, by one of Britain's leading political scientists, explains this transformation and traces its consequences. It will be essential reading for all those interested in British political development and, in particular, the central role of regulation in the modern state.

The Carter administration took office at an unfortunate time as far as economics is concerned. The economy was floundering, and the oil crisis and energy problems were all too prevalent. The author explains that as Carter turned to fighting inflation, he abandoned the traditional Democratic agenda and became a forerunner of Reagan. In the end, he did not conquer inflation, but he did sacrifice his ambitious programs for restructuring government, crafting a lasting energy program, and reforming the tax structure, welfare, and health care.

This book acts as a welcome foil to current thinking on the concept of globalisation, which tends to be divided into two distinct camps: one which suggests that the neo-liberal model has triumphed and has no realistic alternative, and another which argues that globalisation, in its most extreme form, does not really exist, rather having evolved gradually from the very beginnings of industrialisation. Bob Milward presents an alternative view of globalisation and argues that indeed there has been a continuum in capitalist development, but that this has been forged by historical processes and the dynamism of the competitive forces of capitalism. He identifies the emergence of monopoly capitalism as an important shaping factor, and in so doing sheds light on issues of underdevelopment, multinational imperialism and crises in advanced capitalist economies. This radical, multidisciplinary account of the condition of the global economy, encompassing a critique of the neo-liberal foundations of orthodox global analysis, will appeal to an extensive audience. Students, researchers and academics in the fields of economics, heterodox economics, economic geography, politics, sociology, development studies, international relations and public policy will find Globalisation? Internationalisation and Monopoly Capitalism to be an engaging read.

This book explores how successful the various tenets of economic thought have been in prognosticating or remedying economic crises. Examining key episodes in economic history, from famines in antiquity to present-day financial collapse, the author finds that several theories failed to cope with a crisis and lost their academic impact. The author also presents cases in which major theoretical innovations were achieved after the experience of a crisis as well as cases where a completely new theory was needed to explain and face the events. This book will appeal to researchers and scholars interested in understanding how theoretical developments in economics are affected by real-world economic crises.

William Mott examines the relationships between economic growth and international conflict in history and theory, developing and analyzing a set of observed empirical modern growth-conflict relationships over long periods, and presenting an explanation of the observations. After introducing the growth-conflict relationship as the unit of analysis, he identifies historical perceptions of the growth-conflict relationship from ancient times through the modern era. Mott offers an alternative theoretical construct for further investigation, and speculates about the impact of these results on orthodox political-economic theory. The results of this work carry powerful implications for national management of foreign direct investment and trade in both home countries and host nations.

Why are some countries without an apparent abundance of natural resources, such as Japan, economic success stories, while other languish in the doldrums of slow growth. In this comprehensive look at North American economic history, Marc Egnal argues that culture and institutions play an integral role in determining economic outcome. He focuses his examination on the eight colonies of the North, five colonies of the South (which together made up the original thirteen states), and French Canada. Using census data, diaries, travelers' accounts, and current scholarship, Egnal systematically explores how institutions (such as slavery in the South and the seigneurial system in French Canada) and cultural arenas (such as religion, literacy, entrepreneurial spirit, and intellectual activity) influenced development. He seeks to answer why three societies with similar standards of living in 1750 became so dissimilar in development. By the mid-nineteenth century, the northern states had surged ahead in growth, and this gap continued to widen into the twentieth century. Egnal argues that culture and institutions allowed this growth in the North, not resources or government policies. Both the South and French Canada stressed hierarchy and social order more than the drive for wealth. Rarely have such parallels been drawn between these two societies. Complete numerous helpful appendices, figures, tables, and maps, Divergent Paths is a rich source of unique perspectives on economic development with strong implications for emerging societies.

Volume 37A of Research in the History of Economic Thought and Methodology features a symposium edited by Tiago Mata, celebrating 50 years of the Union of Radical Political Economics. It also includes an essay by Mauro Boianovsky, and is accompanied by a series of reflections from esteemed colleagues, all focused on Arthur Lewis and the classical foundation of development economics. The Volume further includes an important new archival contribution (edited and introduced by Malcolm Rutherford) from the papers of Alvin Hansen, in which the famous Harvard economist reflects on the contributions of his teacher, John R. Commons, on the occasion of the latter's 70th birthday in November 1932.

Set within the growing literature on European economy in the late 18th and early 19th century, this book furnishes a "pre-history" to Norway's rapid structural transformation and accelerated economic growth after the mid-nineteenth century. It argues that Norway in the long 18th century benefitted from an export-led growth, which exploited its abundant natural resources. The income from exports fuelled a substantial increase in consumption among rural households, while "pluriactivity", a household strategy to balance market oriented production and consumption with self sufficiency in the insufficiently developed market succeeded in offering a "soft way" toward modern market society.

Commerce meets conquest in this swashbuckling story of the six merchant-adventurers who built the modern world

It was an era when monopoly trading companies were the unofficial agents of European expansion, controlling vast numbers of people and huge tracts of land, and taking on governmental and military functions. They managed their territories as business interests, treating their subjects as employees, customers, or competitors. The leaders of these trading enterprises exercised virtually unaccountable, dictatorial political power over millions of people.

The merchant kings of the Age of Heroic Commerce were a rogue's gallery of larger-than-life men who, for a couple hundred years, expanded their far-flung commercial enterprises over a sizable portion of the world. They include Jan Pieterszoon Coen, the violent and autocratic pioneer of the Dutch East India Company; Peter Stuyvesant, the one-legged governor of the Dutch West India Company, whose narrow-minded approach lost Manhattan to the British; Robert Clive, who rose from company clerk to become head of the British East India Company and one of the wealthiest men in Britain; Alexandr Baranov of the Russian American Company; Cecil Rhodes, founder of De Beers and Rhodesia; and George Simpson, the "Little Emperor" of the Hudson's Bay Company, who was chauffeured about his vast fur domain in a giant canoe, exhorting his voyageurs to paddle harder so he could set speed records."Merchant Kings" looks at the rise and fall of company rule in the centuries before colonialism, when nations belatedly assumed responsibility for their commercial enterprises. A blend of biography, corporate history, and colonial history, this book offers a panoramic, new perspective on the enormous cultural, political, and social legacies, good and bad, of this first period of unfettered globalization.

The end of the Cold War in 1989 gave rise to hopes for a new, more peaceful international system and for the redirection of military expenditures--over one-half of annual U.S. federal discretionary spending--toward education and health care, renewing the nation's infrastructure, environmental mitigation, and alternative energy sources. At the beginning of the 21st Century, U.S. military spending remains stuck at 85% of the Cold War average. Why? As Accordino explains, at the federal level, the Iron Triangle comprised of the Pentagon, defense contractors, and a conservative Congress maintained defense spending at Cold War levels, encouraging contractors to stay focused on defense. When some procurement cutbacks and base closures occurred, growth interests recruited lower-wage branch plants, sports, and entertainment facilities, rather than supporting the hard work of defense conversion that creates higher-paying jobs. Nevertheless, some defense contractors and community interests did embrace conversion, showing remarkable potential. Of particular interest to scholars and researchers involved with urban and regional planning, public administration and local politics, and regional economic development.

Japanese foreign direct investment surged into Western markets in the late 1980s provoking intense policy debates in Europe and America. How did the European authorities respond to this 'Japanese Challenge'? How did their response compare to the US policy record? Does this international business activity give any insights into the idea of increasing convergence of behaviour of the world's capitalist economies? To answer these questions, Mark Mason investigates European policies towards the Japanese Challenge in cross-national and historical perspectives. He compares the policy response of European governments with that of the US government by contrasting case studies in three key sectorsthe automobile industry, consumer electronics, and banking. The case studies are then examined in the context of wider policy patterns and models across the entire Triad throughout the postwar period. This book will be essential reading for anyone interested in international business history, Japanese investment policies, international trade, corporate strategy, and government-industry relations.

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.

This collection of essays explores the inter-imperial connections between British, Spanish, Dutch, and French Caribbean colonies, and the 'Old World' countries which founded them. Grounded in primary archival research, the thirteen contributors focus on the ways that participants in the Atlantic World economy transcended imperial boundaries.

In The Circulation of Knowledge Between Britain, India and China, twelve scholars examine how knowledge, things and people moved within, and between, the East and the West from the early modern period to the twentieth century. The collection starts by looking at the ways and means that knowledge circulated, first in Europe, but then beyond to India and China. It engages the knowledge and encounters of those Europeans as they moved across the globe. It participates in the attempt to open up more nuanced and balanced trajectories of colonial and post-colonial encounters. By focusing on exchange, translation, and resistance, the authors bring into the spotlight many "bit-players" and things originally relegated to the margins in the development of late modern science. Contributors include Karen Smith, Larry Stewart, Savrithri Preetha Nair, Jan Golinski, Arun Bala, Jonathan Topham, Khyati Nagar, Yang Haiyan, Fa-ti Fan, Grace Yen Shen, Jahnavi Phalkey, Veena Rao, and Sundar Sarukkai.

Alexis de Tocqueville once described the national character of Americans as one question insistently asked: "How much money will it bring in?" G.K. Chesterton, a century later, described America as a "nation with a soul of a church." At first glance, the two observations might appear to be diametrically opposed, but this volume shows the ways in which American religion and American business overlap and interact with one another, defining the US in terms of religion, and religion in terms of economics. Bringing together original contributions by leading experts and rising scholars from both America and Europe, the volume pushes this field of study forward by examining the ways religions and markets in relationship can provide powerful insights and open unseen aspects into both. In essays ranging from colonial American mercantilism to modern megachurches, from literary markets to popular festivals, the authors explore how religious behavior is shaped by commerce, and how commercial practices are informed by religion. By focusing on what historians often use off-handedly as a metaphor or analogy, the volume offers new insights into three varieties of relationships: religion and the marketplace, religion in the marketplace, and religion as the marketplace. Using these categories, the contributors test the assumptions scholars have come to hold, and offer deeper insights into religion and the marketplace in America.

Known as the "economist's economist" for his work on creating a synthetic economic theory, Swedish economist Knut Wicksell was a controversial, but highly influential figure in modern economic thought. His contributions to marginal productivity theory, income distribution and, most notably, his theory of interest would come to have a profound impact upon twentieth century economic theory, not least in the work of John Maynard Keynes. First published in English in 1934 and 1935, this Routledge Revival set is a reissue of Wicksell's two volume work on political economy, first published in Sweden in 1901 and 1906. This work is aimed at both the professional economist and the advanced student alike, as well as all those interested in the theoretical development of political economy. Volume I concerns itself predominantly with issues of theory: specifically the theory of value, the theory of production and distribution and the theory of capital accumulation. Volume II deals with theories relating to money, currency and credit.