This volume forms part of a ten volume set on the origins of macroeconomics. The emergence of macroeconomics was probably the single most important development in economics in the twentieth century. The set draws on a broad, international range of sources, and encompasses works by lesser known thinkers who made significant contributions to the field, providing the definitive collection of materials on the origins of the discipline.

Full Contributors:
Susan E. Alcock, Jean Andreau, Paul Carledge, Edward E. Cohen, John K. Davies, Lin Foxhall, Edward M. Harris, Michael H. Jameson, Julie Velissaropoulos-Karakostas, H. S. Kim, Dimitris J. Kyrtatas, Ian Morris, Sitta von Reden and Walter Scheidel

Incorporating a broad range of economic approaches, Understanding Financial Crises explores the merits of various arguments and theories which have been used to explain the causes of financial crises. The book explores eight of these different explanations: underconsumption, debt accumulation, financialization, income inequality, financial fragility, tendency of rate of profit to fall, human behavior, and global imbalances. The introduction provides a brief overview of each argument along with a comparison of their relative merits. Each chapter then introduces one of the arguments, explores a historical case, and focuses on the insights that can be gleaned into the global crisis in 2007-2008. The book draws on insights from various schools of thought including post-Keynesian economics, Marxist economics, behavioral economics, neoclassical economics, and more, to provide a pluralist overview of the causes of economic crises in general and the Great Recession in particular. This book marks a significant contribution to the literature on economic and financial crises, political economy and heterodox economics. It is well suited to academicians, practitioners, and financial analysts working within the relevant fields.

Thomas Hodgskin (1787-1869) is today a largely unknown figure, sometimes considered to be a forerunner of Karl Marx. Yet a closer look at Hodgskin's works reveals that he was actually a committed advocate of laissez-faire economics and enthusiastic about labor-saving machinery and the Industrial Revolution, with a genuine interest in the well-being of the working classes. This book places him in the tradition of classical liberalism, where he belongs-as a disciple of Adam Smith, but even less tolerant of government power than Smith was. Classical Liberalism and the Industrial Working Class: The Economic Thought of Thomas Hodgskin will be of interest to advanced students and scholars in the history of economic thought, economic history and the history of political thought.

What has dictated the rate and direction of technological change? How central has it been to industrial progress? How has it related to other determinants of economic growth and development?In Technology and Industrial Progress, Nick von Tunzelmann examines theoretical views on the nature and contribution of technology, and the empirical evidence from the major industrializing countries from the eighteenth century to the present day. The experiences of countries regarded in their time as the leaders of industrialization - Britain in the eighteenth century, the United States in the nineteenth century and Japan in the twentieth century - are critically compared by the author. The following chapters study the transfer of each of these patterns of technology and growth to later industrializers, such as continental Europe, the Soviet Union, and today's newly industrializing countries. Adopting approaches drawn from evolutionary economics, Dr von Tunzelmann links micro-level phenomena relating to individual firms and technologies to macro-level outcomes as reflected in economic growth and development. This long-awaited book is exceptional both in the range of countries surveyed and the breadth of topics analysed, encompassing changes in production processes, products and marketing, management and finance.

First published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

First Published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

Contents:
Introduction A.J.H. Latham and Heita Kawakatsu
Part I
1. Globalization, factor prices and living standards in Asia before 1940 Jeffrey G. Williamson
Part II
2. Four revolutions in the textile trade of Asia 1814-1994: the impact of Bombay, Osaka, the Little Tigers and China D.A. Farnie
3. Europe, China and Japan: transfer of silk reeling technology in 1860-95 Debin Ma
4. The colonial origins of Korea's market economy Myung Soo Cha
5. South Korea's late industrialization in comparative historical perspective Jaymin Lee
6. Export dynamics in Taiwan and mainland China 1950-2000: a Schumpeterian approach Hans H. Bass
7. Industrialization and institutional change in Hong Kong 1842-1960 David W. Clayton
8. Education and development: the experience of the Four Little Tigers Derek H. Aldcroft
Part III
9. Another monetary economy: the case of traditional China Akinobu Kuroda
10. Money and growth without development: the case of Ming China Dennis O'Flynn and Arturo Giráldez
11. California and Navada minerals in the Pacific Rim 1850-1900 David J. St. Clair
Part IV
12. The transmission of corporate cultures: international Officers in the HSBC group Frank H.H. King
13. Chaos and instability: the Asia Pacific rice trade in the 1990s A.J.H. Latham

Japan's escape from colonialism and its subsequent industrialisation has taken it to the point where its economy is second only to that of the US. This comprehensive volume examines how this rapid change of fortunes occurred, and the impact it has had on East Asia and the world at large. Taking a wide range and focus, Inkster looks at the history of Japan's industrial development in a social and cultural context.

Richard Cantillon is one of the key figures in the early history of economics. He was certainly not the first to think about economic problems, but he was the first to have clear insight into the way the economy functions as a system. He was arguably the first to structure a theory of how the economy works. In this sense he could be called the first real economist. Today, his ideas on population, determination of prices, wages and interest, the role of the entrepreneur, banking, and the influence of money supply on the economy are increasingly quoted and appreciated. This is a translation of the "essai sur la nature du commerce en general" his only surviving work. It was circulated in manuscript form for many years after his death and was extremely influential, albeit not well known, at least throughout the eighteenth century. "Essays on the Nature of Commerce in General" shaped the development of economics through its formative influence on Franois Quesnay and Adam Smith. It is a cornerstone upon which all subsequent economic theory has been built. Transaction is proud to breathe new life into this classic work as part of its distinguished series in economic theory and history. In his new introduction, Anthony Brewer showcases Cantillon, the prophetic thinker, for a new generation of readers. This volume's broad-based appeal and great cultural import can no longer afford to be overlooked. Students of economic theory, intellectual historians, and sociologists will find this volume indispensable.

The grass-roots approach allows for a better understanding of religion as it shows how it encompassed all spheres of daily life. By exploring how pastoral care took shape at the local levels of society, the volume is useful in showing how the ideal of leading everybody to salvation was a central element of Carolingian culture. This will be useful for all students and scholars who are interested in the ecclesiastical history of Europe in the Carolingian period. The various sections on the roles of the priest, such as priests as experts, shows how well-educated local priests did not only know how to baptise and preach, but could also advise on matters concerning health, legal procedure and even the future, which provides a more detailed and nuanced view of the role of the priest in this period.

First published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

First published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

Cocoa & Chocolate, charts the economic consequences of the addition of chocolate to Western diets, and the consequent boom in cocoa sales, over 150 years. While the cocoa boom might have been expected to transform the economic conditions of the cocoa producers from rural poverty into prosperity, it somehow failed to achieve this.
This pioneering study examines all aspects of the history of cocoa and chocolate and the effect of these commodities globally. William Gervase Clarence-Smith looks at the effects of increased production of cocoa on the environment and on land distribution, at the coercion of labour to work the plantations, at the manufacture of chocolate, at taxation and at consumption.

eBook available with sample pages: 020346186X

Contents:
Part I. The foundations of the twentieth-century debt
1. Sinking funds, annuities and savings banks
2. An Edwardian debt
Part II. The Great War
3. Lloyd George's Loan
4. McKenna's conversion
5. The small saver and continuous borrowing
6. The beginning of overseas borrowing and the Anglo-French Loan
7. The year of drift: internal borrowing in 1916
8. The year of drift: external borrowing in 1916
9. External borrowing 1917-18: (I) the United States of America
10. External borrowing 1917-18: (II) the neutrals, Canada and silver
11. Bonar Law's Loans
12. National War Bonds and continuous borrowing
Part III. Repayment, refinancing, conversion and funding
13. Victory and funding
14. The struggle for internal control, 1919-23
15. The external market and Canada
16. The debt to the US Treasury and the Blackett-Rathbone talks
17. The Balfour Note and the Baldwin Settlement
18. The price of indebtedness, 1924-31
19. The great conversion
20. Savings Certificates, savings banks and capital advances
21. Debt repayment and the sinking funds
22. The development of market management

First published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

First published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

First published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

First published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

This book explains inflation dynamic, using time series data from 1960 for 42 countries. These countries are different in every aspect, historically, culturally, socially, politically, institutionally, and economically. They are chosen on the basis of the data availability only and cover the Middle East and North Africa (MENA) region, Africa, Asia, the Caribbean, Europe, Australasia, and the United States. Inflation reached double digits in the developed countries in the 1970s and 80s, and then central banks, successfully stabilized it by anchoring inflation expectations for decades, until now. Conditional on common and country-specific shocks such as oil price shocks, financial and banking and political crises, wars, pandemics, natural disasters etc., the book tests various theoretical models about the long and short run relationships between money and prices, money growth and inflation, money growth and real output, expected inflation; the output gap, fiscal policy, and inflation, using a number of parametric and non-parametric methods, and pays attention to specifications and estimations problems. In addition, it explains why policymakers in inflation - targeting countries, e.g. the U.S., failed to anticipate the recent sudden rise in inflation. And, it examines the fallibility of the Modern Monetary Theory's policy prescription to reduce inflation by raising taxes. This is a unique and innovative book, which will find an audience among students, academics, researchers, policy makers, analysts in corporations, private and central banks and international monetary institutions.

From the author of The Shifts and the Shocks, and one of the most influential writers on economics, a reckoning with how and why the relationship between democracy and capitalism is coming undone We are living in an age when economic failings have shaken faith in global capitalism. Political failings have undermined trust in liberal democracy and in the very notion of truth. The ties that ought to bind open markets to free and fair elections are being strained and rejected, even in democracy's notional heartlands. Around the world, democratic capitalism, which depends on the determined separation of power from wealth, is in crisis. Some now argue that capitalism is better without democracy; others that democracy is better without capitalism. This book is a forceful rejoinder to both views. It analyses how the marriage between capitalism and democracy has become so fraught and yet insists that a divorce would be an almost unimaginable calamity. Martin Wolf, one of the wisest public voices on global affairs, argues that for all its recent failings - slowing growth, increasing inequality, widespread popular disillusion - democratic capitalism, though inherently fragile, remains the best system we know for human flourishing. Capitalism and democracy are complementary opposites: they need each other if either is to thrive. Wolf's superb exploration of their marriage shows us how citizenship and a shared faith in the common good are not romantic slogans but the essential foundation of our economic and political freedom.

Has America always been the champion of free trade? Debates about free trade and protection are one of the dominant features of 19th century economic discourse. The writings of the British classical economists, in particular, have been the subject of extensive secondary literature. In contrast, the writings of their American counterparts have often been overlooked. This collection seeks to help rectify this, by giving access to an extensive range of 19th-century American writings on trade issues. Many of the pieces selected are unavailable, even in America. Each has been carefully retypeset. Early American economics is often criticized for lacking the theoretical sophistication of European economics. The picture which emerges from these texts is more complex. It seems that far from being of universal application, the ideas of the English classical economists did not fit neatly in the context of 19th-century America, and it is much harder to draw a sharp doctrinal divide between protectionists and free-traders. The texts reproduced discuss: "the American system" of protection for infant industries; the North/South divide in the US, made manifest by the slavery question and the civil

Since 1990 the UK has undergone major shifts in terms of its land, economy, society, policy and environment, all of which have had a profound effect on the geographical landscape. This fully revised edition of a well-known book presents a full description and interpretation of the changes that have occurred during the 1990s. It includes a great deal of new material from a revised team of contributors.

The ancient Oriental dyestuff madder red was avidly sought by Europeans and finally cracked by the French in 1760, and it became the main crop in the Caspian Caucasus. The quest for Turkey Red spurred an avalanche of research that led to its chemical synthesis in 1870 and subsequently the collapse of the world-wide madder industry.

eBook available with sample pages: 0203400437

Series Information:
Asia's Transformations