Focusing on England, this study reconstructs the centuries-long process of commercialization that gave birth to the modern market society. It shows how certain types of markets (e.g. those for real estate, labor, capital, and culture) came into being, and how the social relations mediated by markets were formed. The book deals with the creation of institutions like the Bank of England, the Stock Exchange, and Lloyd's of London, as well as the way the English dealt with the uncertainty and the risks involved in market transactions. Christiane Eisenberg shows that the creation of a market society and modern capitalism in England occurred under circumstances that were utterly different from those on the European continent. In addition, she demonstrates that as a process, the commercialization of business, society, and culture in England did not lead directly to an industrial society, as has previously been suggested, but rather to a service economy.

Two Victorian Era intellectual movements changed the course of American legal thought: Darwinian natural selection and marginalist economics. The two movements rested on fundamentally inconsistent premises. Darwinism emphasized instinct, random selection, and determinism. Marginalism emphasized rational choice. Legal theory managed to accommodate both, although to different degrees in different disciplines. The two movements also developed mutually exclusive scientific methodologies. Darwinism emphasizing external indicators of welfare such as productivity, education or health, while marginalists emphasized market choice. Historians have generally exaggerated the role of Darwinism in American legal thought, while understating the role of marginalist economics. This book explores these issues in several legal disciplines. One is Progressive Era movements for redistributive policies about taxation and public goods. Darwinian science also dominated the law of race relations, while criminal law reflected an inconsistent mixture of Darwinian and marginalist incentive-based theories. The common law, including family law, contract, property, and tort, moved from emphasis on correction of past harms to management of ongoing risk and relationship. A chapter on Legal Realism emphasizes the Realists' indebtedness to institutional economics, a movement that powerfully influenced American legal theory long after it fell out of favor with economists. Five chapters on the corporation, innovation and competition policy show how marginalist economics transformed business policy. The ironic exception was patent law, which developed in relative insulation from economic concerns about innovation policy. The book concludes with three chapters on public law, emphasizing the role of institutionalist economics in policy making during and after the New Deal. A lengthy epilogue then explores the variety of postwar attempts to reconstruct a defensible and more market-oriented rule of law after the decline of Legal Realism and the New Deal.

The history of the modern world can be described through the history of the commodities that were produced, traded and consumed, on an increasingly global scale. The papers presented in this book show how in this process borders were transgressed, local agents combined with metropolitan representatives, power relations were contested and frontiers expanded. Including cases from Asia, Africa and the Americas, as well as a number of global commodities (sugar, tobacco, rubber, cotton, cassava, tea and beer), this collection presents a sample of the range of innovative research taking place today into commodity history. Together they cover the last two centuries, in which commodities have led the consolidation of a globalised economy and society - forging this out of distinctive local experiences of cultivation and production, and regional circuits of trade.

Why are poor countries poor? How can they get out of the poverty trap?
Sir Arthur Lewis (1915-1991) was the first person to answer these questions in a systematic way. But he was much more than this; he was also the first Afro-Caribbean to be a professor at a British university, and the first black man to win the Nobel Prize for Economics. He had to fight against prejudice, in a way which for us, the best part of a century later, is hard to imagine.
Lewis was also more than an academic economist. He believed 'that economics 'concerns life more than numbers', and wrote in a simple style, accessible to all. In Africa, the West Indies and Moss Side (Manchester) in the 1950s and early 1960s, side by side with his academic work, he was also working as an activist to try and achieve a fair deal for the poor. But those attempts ended in frustration, and he was astonished to be awarded the Nobel Prize, in 1979, when he thought he had been forgotten.
Barbara Ingham and Paul Mosley's biography describes the man, and the social relationships, behind these astonishing achievements. Although Lewis liked to present himself as a rational individualist who worked his way up by himself, both the ladders he managed to climb, and the snakes he often slipped down, cannot be understood without considering Lewis' friendships, rivalries and the structures of the societies in which he attempted, sometimes happily and sometimes disastrously, to intervene.

A topical insider view of causes and consequences of financial crises since the Mexican collapse of 1995. The book includes a detailed exploration of recent and ongoing firestorms, including the near meltdown of the global financial system and the euro crisis, and suggests ways to save the international financial and monetary system.

This book describes the history of the IMF from its birth, through the Bretton Woods era, and in the aftermath. Special attention is paid to integrating IMF history with the macro-economic policies of member countries and of other international institutions as well. This collection of work presents a clear understanding, inter alia, of the influence of the United States over IMF policy via the National Advisory Committee; the dealings of the IMF with the UK on pound sterling policy; the institutional change of the IMF brought about by Per Jacobsson, the third managing director; and France, Italy, Germany, Canada, and Japan vis-a-vis IMF consultations. It also provides the reader with topics concerning the bankers' acceptance market function and international liquidity issues in relation to IMF policy; the final chapter sheds light on the long-standing relations between the IMF and China, from the Bretton Woods Agreement to the contemporary period. All the chapters are archive-based academic studies providing deep insights with historical background, which makes this book the first thoroughly independent achievement in the field of IMF history. This book is highly recommended to readers interested in contemporary monetary and financial history and those who seek to obtain a coherent image of postwar international institutions and markets.

This text explores the rise of consumerism and the expanding variety of goods available in Japan. Japan is placed within the comparative context of the 'consumer revolution' in Europe and North America, contributing to the analysis of the ways in which consumption and everyday life change in the course of economic development.

In this unique contribution to economic sociology, Jeffrey Hass examines the impact of culture, norms and political authority on Russia's post-socialist transition. The interactions and contradictions of moral economies and market relations are examined, exploring the often overlooked social dimension to market-building in Russia.

This edited volume studies the relationship between big business and the Latin American dictatorial regimes during the Cold War. The first section provides a general background about the contemporary history of business corporations and dictatorships in the twentieth century at the international level. The second section comprises chapters that analyze five national cases (Argentina, Brazil, Chile, Uruguay and Peru), as well as a comparative analysis of the banking sector in the Southern Cone (Argentina, Brazil, Chile, and Uruguay). The third section presents six case studies of large companies in Argentina, Brazil, Chile, Colombia and Central America. This book is crucial reading because it provides the first comprehensive analysis of a key yet understudied topic in Cold War history in Latin America.

This textbook articulates the elements of good craftsmanship in applied microeconomic research and demonstrates its effectiveness with multiple examples from economic literature. Empirical economic research is a combination of several elements: theory, econometric modelling, institutional analysis, data handling, estimation, inference, and interpretation. A large body of work demonstrates how to do many of these things correctly, but to date, there is no central resource available which articulates the essential principles involved and ties them together. In showing how these research elements can be best blended to maximize the credibility and impact of the findings that result, this book presents a basic framework for thinking about craftsmanship. This framework lays out the proper context within which the researcher should view the analysis, involving institutional factors, complementary policy instruments, and competing hypotheses that can influence or explain the phenomena being studied. It also emphasizes the interconnectedness of theory, econometric modeling, data, estimation, inference, and interpretation, arguing that good craftsmanship requires strong links between each. Once the framework has been set, the book devotes a chapter to each element of the analysis, providing robust instruction for each case. Assuming a working knowledge of econometrics, this text is aimed at graduate students and early-career academic researchers as well as empirical economists looking to improve their technique.

We have seen many empires come and go. From the Roman Empire to the British Empire, we are now witnessing the decline of the US as a superpower. How do economic innovations foster global economic dominance, and how does the natural evolution of an economic empire eventually bring about its demise and replacement by other economic superpowers?

This ground-breaking book provides the first English-language survey of economic thought in modern Japan. Significantly, it offers both a detailed study of economic thought from 1600 to 1945 and a nuanced analysis of Western and Asian perspectives on the field of Japanese economic history. Expertly translated from Japanese and written by leading scholars in the field, this exciting study includes: * A novel approach to economic thought which contextualizes the core values of thinkers across the period * A comparative analysis of Japanese economic history which looks at the continuities across the Meiji divide * The extensive use of archival sources, many of which were previously unavailable in English A History of Economic Thought in Japan, 1600 - 1945 serves as a case study of how Western economic ideas spread to non-Western regions and interacted with indigenous ideas. It will therefore be of immense value to both scholars of economic thought and those seeking a deeper understanding of the moral, intellectual, and societal forces that shaped modern Japan.

This book covers the whole system of Socialism with Chinese Characteristics, dealing with Deng Xiaoping's theory, the socialist market economy, a moderately well-off (Xiaokang) society, China's practice and theory of socialist democracy, human rights, and Xi Jinping's Marxism. In short, the resolute focus is the Reform and Opening-Up. Socialism with Chinese Characteristics is one of the most important global realities today. However, the concept and its practice remain largely misunderstood outside China. This book sets to redress such a lack of knowledge, by making available to non-Chinese speakers the sophisticated debates and conclusions in China concerning socialism with Chinese Characteristics. It presents this material in a way that is both accessible and thorough.

From the Civil War through the Great Depression small businessmen and their stores dominated retailing in nearly every city and town. Within the walls of their shops, grocers wrestled with fundamental changes in the structures of industrial and commercial capitalism, including the development of mass production, distribution, and marketing, the growth of regional and national markets, and the introduction of new organizational and business methods. Yet today we know very little about the considerable achievements of these small businessmen and their corner stores and even less about their major contributions to the making of "modern" enterprise in the United States. Popular stereotypes of Rockwellian storekeepers as avuncular men who prevailed over pickle-barrel conversations and checkers games, have characterized grocery retailers as backward and resistant to modernizing impulses. Cornering the Market challenges these conventions to argue that nineteenth- and early twentieth-century grocers were important but unsung innovators of business models and retail technologies that fostered the rise of contemporary retailing. Small businessmen revolutionized business practices from the bottom by becoming the first to own and operate cash registers, develop new distribution paths, and engage in transforming the grocery trade from local enterprises to a nationwide industry. Drawing on private thoughts from storekeepers' diaries, business ledgers and documents, and the letters of merchants, wholesalers, traveling men, and consumers, Spellman shows how proprietors confronted industrialization by crafting solutions centered on notions of efficiency, scale, and price controls, without abandoning local ties, turning social concepts of community into commercial profitability. It was a powerful combination businesses from chain stores to Wal-Mart continue to exploit in the twenty-first century.

This volume traces the history of organized labor in the Peru and Ecuador from its first appearance in the late nineteenth century until the end of the twentieth century. It discusses the relations of trade unionism with economic development and politics, particularly the political tendencies within organized labor. It also discusses the negative impact on the trade union movement of the "free-enterprise-free trade" policies of the last decades of the twentieth century.

Money is more than just a medium of financial exchange: across time and place, it has performed all sorts of cultural, political, and social functions. This volume traces money in German-speaking Europe from the late Renaissance until the close of the twentieth century, exploring how people have used it and endowed it with multiple meanings. The fascinating studies gathered here collectively demonstrate money's vast symbolic and practical significance, from its place in debates about religion and the natural world to its central role in statecraft and the formation of national identity.

This book challenges the wide-ranging generalizations that dominate the literature on the impact of export-led growth upon Latin America during the first export era. The contributors to this volume contest conventional approaches, stemming from structuralism and dependency theory, which portray a rather negative view of the impact of nineteenth-century globalization upon Latin America. It has been considered that, as a result of the role of Latin American countries as providers of raw materials produced in enclaves dominated by foreign capital, their participation in the world economy has had adverse consequences for their long-term development. This volume addresses a representative sample of countries with varied initial conditions and resource endowments, a diverse productive specialization, as well as different degrees of integration to the world economy. This allows a direct comparison among the different experiences within the region, which in turn enables a more nuanced understanding of the contribution of exports to economic growth and economic modernization. Seven national case studies are presented - Argentina, Brazil, Colombia, Chile, Peru, Mexico and Bolivia - which offer an insight into the successes of a region traditionally viewed as disadvantaged by globalization and export-led growth. Winner of the Vicens Vives prize for the best economic history book granted by the Spanish Economic History Association.

Throughout time, from ancient Rome to modern Britain, the great empires built and maintained their domination through force of arms and political power. But not the United States. America has dominated the world in a new, peaceful, and pervasive way -- through the continued creation of staggering wealth. In this authoritative, engrossing history, John Steele Gordon captures as never before the true source of our nation's global influence: wealth and the capacity to create more of it.This P.S. edition features an extra 16 pages of insights into the book, including author interviews, recommended reading, and more.

A myth-busting explanation of inflation, the desperate gullibility of central bankers and finance ministers-and our abject failure to learn from history From investors and monetary authorities to governments and policy makers, almost everyone had assumed inflation was dead and buried. But now people the world over are confronting a poisonous new economic reality and, with it, the prospect of vast and increasing wealth inequality. How have we arrived in this situation? And what, if anything, can we do about it? Celebrated economist Stephen D. King-one of the few to warn ahead of time about the latest inflationary upheaval-identifies key lessons from the history of inflation that policy makers chose not to heed. From ancient Rome through the American Civil War and up to the asset bubbles of today, inflation stems from policy error, sovereign greed, and a collective loss of faith in currencies. We Need to Talk About Inflation cuts through centuries of bad judgment and misunderstanding, offering a means to intervene now-so we can begin to tackle the political and social upheaval unleashed by inflation.

This book examines the pattern of growth of the Spanish economy in the last few decades, and studies the causes of its labor productivity, and the special features characterizing business cycles in Spain.

The book provides the first comprehensive comparative study of the socio-political effects of the Great Recession amongst European citizens. This book presents a detailed investigation of heterogeneity in the population within countries with respect to how citizens made sense of the crisis and how this impacted on their livelihoods, outlooks and political engagement. It analyses citizens' experiences of the economic crisis, the decline of living standards and deprivation by structural location as well as differences in economic outlooks. It examines the ways in which citizens from different social groups were able to be resilient to the effects of the economic crisis. Moreover, it shows how social support and social capital emerging from social relations contributed to resilience in the face of the crisis. It also examines citizen attitudes in relation to various welfare policies and to immigration and how support for populist parties are differentiated within the population. The book also looks at the impact of the crisis on different types of political action challenging incumbent governments and protesting against austerity policies.

Nineteenth-century Brazil's constitutional monarchy credibly committed to repay sovereign debt, borrowing repeatedly in international and domestic capital markets without default. Yet it failed to lay the institutional foundations that private financial markets needed to thrive. This study shows why sovereign creditworthiness did not necessarily translate into financial development. "Using a vast array of archival evidence, Summerhill convincingly shows that political commitment to a secure public debt was neither necessary nor sufficient to insure financial development in nineteenth-century Brazil. A must-read for economic and financial historians and for anyone interested in the politics of financial development." -Jean-Laurent Rosenthal, California Institute of Technology

This book analyzes the Philippine economy from the 1960s to the 1980s. During this period, the benefits of economic growth conspicuously failed to "trickle down". Despite rising per capita income, broad sectors of the Filipino population experienced deepening poverty.;Professor Boyce traces this outcome to the country's economic and political structure and focuses on three elements of the government's development strategy: the "green revolution" in rice agriculture, the primacy accorded to export agriculture and forestry, and massive external borrowing.;James Boyce is the author of "Agrarian Impasse in Bengal" and co-author of "A Quiet Violence: View from a Bangladesh Village".

Opposing the Money Lenders - The Struggle to Abolish Interest Slavery is a collection of writings from some of the most determined fighters against usury and the Central Banking system during the 20th Century. Those included are Arthur Nelson Field, John A. Lee, John Hargrave, Ezra Pound, Father Charles Coughlin, and Gottfried Feder, who fought and inspired mass movements that struggled to liberate their nations from the forces of what one - Gottfried Feder - aptly called "Mammonism."

The subject of the supply of our money, and who controls it, is the greatest social issue that confronts humanity today. It is the "Hidden Hand" behind history. Without dealing with the problems of banking and usury, without a people having control over its own means of credit and exchange, there can be no genuine nationhood, and no real freedom, whether personal or national.

Almost every individual, family, nation, indeed most of the world, is today in thrall to the money lenders. Despite advances in mechanisation and technology, people are working longer hours, and are more enslaved to the economic treadmill than were their ancestors in Medieval times. At the same time, despite mass education, people today understand the economic and financial system far less than their parents and grandparents. Opposing the Money Lenders examines our parasitic financial system and the means by which it might be replaced.

Volume 21 of Research in Economic History is a substantial contribution in several respects. Its heft reflects the continuing increase in quality submissions to this series, which invites (although it does not require) authors to take advantage of less stringent space limitations than is typically true in a journal article.

The papers offer regional diversity: two papers with principal focus on England, one on Germany, one on Australia, and three on the United States. There are some commonalities in themes: we have three papers on 1931, three papers that have something to do with banks, two on urban economic history, and two on wage stickiness, albeit in different countries and addressing labor markets several centuries apart. What can be said of all of these inquiries, however, is that each involves the careful consideration of quantitative and qualitative data within a well articulated theoretical framework. And in almost every case, we have original analysis of primary source material.

It's a pleasure in this volume to publish work of scholars at all stages of their careers. We have contributions ranging from those of recently minted Ph.D.s to those of distinguished senior scholars. Each of these articles is written with care, polish, and often passion. Academic disciplines flourish - and economic history is no exception -- when scholars immerse themselves in their subjects and combine this with commitments to logic and evidence, detail, and clarity of exposition. The consequences are the fascinating papers and great scholarship evident here.

We look forward to continuing to publish innovative, well written and carefully considered contributions to economichistory, providing a niche which complements outlets such as the Journal of Economic History, Explorations in Economic History, and the Economic History Review. Potential contributors are urged to contact the editor for information on submission requirements.