In recent years, there have been a number of new developments in what came to be known as the "Capital Theory Debates". The debates took place mainly during the 1960s as a result of Piero Sraffa's critique of the neoclassical theory according to which the prices of factors of production directly depend on their relative scarcities. Sraffa showed that when income distribution changes, there are many complexities developed within the economic system impacting on prices in ways which are not possible to predict. These debates were revisited in the 1980s and again more recently, along with a parallel literature that has developed among neoclassical economists and has also looked at the impact of shocks on an economy. This book summarizes the debates and issues around the theory of capital and brings to the fore the more recent developments. It also pinpoints the similarities and differences between the various approaches and critically evaluates them in light of available empirical evidence. The focus of the book is on the price trajectories induced by changes in income distribution and the resulting shape of the wage rates of profit curves and frontier. These issues are central to areas such as microeconomics, international trade, growth, technological change and macro stability analysis. Each chapter starts with the theoretical issues involved, followed by their formalization and subsequently with their operationalization. More specifically, the variables of the classical theory of value and distribution are rigorously defined and quantified using actual input-output data from a number of major economies, but mainly from the USA, over long stretches of time. The empirical results are not only consistent with the anticipations of the theory but also further inform and therefore strengthen its predictive content raising new significant questions.

Beginning in the twelfth century, taxation increasingly became an essential component of medieval society in most parts of Europe. The state-building process and relations between princes and their subject cities or between citizens and their rulers were deeply shaped by fiscal practices. Although medieval taxation has produced many publications over the past decades there remains no synthesis of this important subject. This volume provides a comprehensive overview on a European scale and suggests new paths of inquiry. It examines the fiscal systems and practices of medieval Europe, including essential themes such as medieval fiscal theory and the power to tax; royal and urban taxation; and Church taxation. It goes on to survey the entire European continent, as well as including comparative chapters on the non-European medieval world, exploring questions on how taxation developed and functioned; what kinds of problems authorities encountered assessing their fiscal power; and the circulation of fiscal cultures and practices across cities and kingdoms. The book also provides a glossary of the most important types of medieval taxes, giving an essential definition of key terms cited in the chapters. The Routledge Handbook of Public Taxation in Medieval Europe will appeal to a large audience, from seasoned scholars who need a comprehensive synthesis, to students and younger scholars in search of an overview of this critical subject.

British multinationals faced unprecedented challenges to their organizational legitimacy in the middle of the twentieth century as the European colonial empires were dismantled and institutional transformations changed colonial relationships in Africa and other parts of the world. This book investigates the political networking and internal organizational changes in five British multinationals (United Africa Company, John Holt & Co., Ashanti Goldfields Corporation, Bank of West Africa and Barclays Bank DCO). These firms were forced to adapt their strategies and operations to changing institutional environments in two English-speaking West African countries, Ghana (formerly the Gold Coast) and Nigeria, from the late 1940s to the late 1970s. Decolonization meant that formerly imperial businesses needed to develop new political networks and change their internal organization and staffing to promote more Africans to managerial roles. This postcolonial transition culminated in indigenization programmes (and targeted nationalizations) which forced foreign companies to sell equity and assets to domestic investors in the 1970s. Postcolonial Transition and Global Business History is the first in-depth historical study on how British firms sought to adapt over several decades to rapid political and economic transformation in West Africa. Exploring both postcolonial transitions and development discourse, this book addresses the topics with regard to business and economic history and will be of interest to researchers, academics, and students in the fields of organizational change, political economy, African studies and globalization.

In the seventeenth century, England saw Holland as an economic power to learn from and compete with. English Economic Thought in the Seventeenth Century: Rejecting the Dutch Model analyses English economic discourse during this period, and explores the ways in which England's economy was shaped by the example of its Dutch rival. Drawing on an impressive range of primary and secondary sources, the chapters explore four key areas of controversy in order to illuminate the development of English economic thought at this time. These areas include: the herring industry; the setting of interest rates; banking and funds; and land registration and credit. The links between each of these debates are highlighted, and attention is also given to the broader issues of international trade, social reform and credit. This book is of strong interest to advanced students and researchers of the history of economic thought, economic history and intellectual history.

First Published in 1973. Routledge is an imprint of Taylor & Francis, an informa company.

Often viewed as self-sufficient, Roman farmers actually depended on markets to supply them with a wide range of goods and services, from metal tools to medical expertise. However, the nature, extent, and implications of their market interactions remain unclear. This monograph uses literary and archaeological evidence to examine how farmers - from smallholders to the owners of large estates - bought and sold, lent and borrowed, and cooperated as well as competed in the Roman economy. A clearer picture of the relationship between farmers and markets allows us to gauge their collective impact on, and exposure to, macroeconomic phenomena such as monetization and changes in the level and nature of demand for goods and labor. After considering the demographic and environmental context of Italian agriculture, the author explores three interrelated questions: what goods and services did farmers purchase; how did farmers acquire the money with which to make those purchases; and what factors drove farmers' economic decisions? This book provides a portrait of the economic world of the Roman farmer in late Republican and early Imperial Italy.

This book examines different dimensions of farmer agitations in Punjab, India. It situates the 2020-2021 farmer resistance movement within the wider context of India's post-independent development trajectory and provides a thorough analysis of various aspects of the farmers' movement in India. The volume contextualizes Punjab's history of farmer resistance, organization and mobilization strategies, the globalization of the movement, ways of both sustaining the movement and building resilience. While providing a critical understanding of the three farm laws introduced in India in 2020, the book looks at how they may impact farm operations and livelihoods in the post-Green Revolution period and evaluates strategies of inclusive mobilization for gathering support and sustaining the movement both within India and abroad, with special focus on the role of the Sikh diaspora. Essays in this volume also discuss the participation of women in the struggle and how their experience has the potential to transform gender relations both at home and in the public sphere. Integrated, comprehensive and concisely written by well-known experts, this book will be of interest to those involved with Punjab's social, political and economic history, and students and researchers of food and agriculture in developing countries, peasant and social movements, Indian federalism and role of diasporas as non-state actors.

Originally published in 1931, A Modern Economic History of South Africa describes the state of Southern Africa in its early days. Its early expansion, the agriculture of the Trek Boers, the difficulties of communication over vast stretches of uncultivated land are woven by the author into a concrete picture of the economic life of the then undeveloped country. The development of the gold and diamond mining industries is discussed, as is their effect on the economy, and the development of infrastructure which followed such as the railways. The challenges of development are also analysed: the customs problems, the increased contact of European with Bantu populations and the ultimate unification of the sub-continent of South Africa.

This book investigates the policies of the Thatcher, Major and Blair governments and their approaches towards concentration of economic and political power. The 1979-2007 British governments have variously been described as liberal or, to use a political insult and a favourite academic label, neoliberal. One of the stated objectives of the Thatcher, Major and Blair governments-albeit with differing focal points-was to disperse power and to empower the individual. This was also a consistent theme of the first generation of neoliberals, who saw monopolies, vested interests and concentration more generally as the 'great enemy of democracy'. Under Thatcher and Major, Conservatives sought to liberalize the economy and spread ownership through policies like Right to Buy and privatisation. New Labour dispersed political power with its devolution agenda, granted operational independence to the Bank of England and put in place a seemingly robust antitrust framework. All governments during the 1979-2007 period pursued choice in public services. Yet our modern discourse characterises Britain as beset by endemic power concentration, in markets and politics. What went wrong? How did so-called neoliberal governments, which invoked liberty and empowerment, fail to disperse power and allow concentration to continue, recur or arise? The book will be of interest to students and scholars of contemporary British history, political economy and politics, as well as specific areas of study such as Thatcherism and New Labour.

Corporate governance is not just about models of best practice organisation or prescriptions following laws or social conventions. Corporate governance is also about persons of power seeking performance, and they do so in ways that transcend structures and pre-conceived notions of the structural set-up of the business. This book emphasises the decision-making dimensions of corporate governance, placing it right in the messy middle of the ever-changing world of capitalism, focussing on the interplay between professional managers and shareholders. This book aims to bring together several fresh perspectives on the development of capitalism seen through the lens of corporate governance. It illustrates the role of intentionality and persons, both as a method with which to understand processes of change, but also as a principle with which to seek a deeper understanding of the corporate governance choices made. It will be of interest to researchers, academics and students in the fields of corporate governance and entrepreneurship, as well as practitioners and other audience interested in the evolution of capitalism and corporate culture.

Out of Slavery, first published in 1985, is a series of articles commissioned on the 150 year anniversary of William Wilberforce's death and the Act of Parliament abolishing British slavery in 1833. With the background from which the history of slavery was viewed being radically changed, with decolonisation, the advancement of Human Rights, the economic and social consequences of what was done, and left undone, by the Abolitionists and Emancipators and of the situations which they faced. This book offers a broad reappraisal on slavery and freedom from slavery as they can now be seen, and of the contribution and personality of the Abolitionists, particularly of their leader and spokesman William Wilberforce.

Published in the year 1975, Study of Economic History is a valuable contribution to the field of Military and Strategic Studies.

Heterodox economics can provide a more complete and robust explanation of economic realities than orthodox (or mainstream) economics. Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that this greater explanatory power gives heterodox economics the ability to illuminate appropriate policy for the major crises of our time, as well as proffer the basis for a more rounded, pluralist approach to economic theory. The chapters in this wide-ranging volume address some of the key issues facing the global economy, including the growing disparity of income/wealth between persons and economic areas, environmental degradation, issues associated with employment, and the regularity of economic/financial crises. The authors examine potential policy responses such as modern monetary theory, models of public ownership, and the need to move beyond standard concepts of growth. They also explore the deficiencies of orthodox economics, and contend that a more pluralist approach to economics is required in the public sphere, in academia, and in the classroom in order to help face the challenges of the twenty-first century. This book is invaluable reading for students and scholars across the social sciences who are interested in alternatives to mainstream economic thinking.

In contemporary society it would seem self-evident that people allow the market to determine the values of products and services. For everything from a loaf of bread to a work of art to a simple haircut, value is expressed in monetary terms and seen as determined primarily by the 'objective' interplay between supply and demand. Yet this 'price-mechanism' is itself embedded in conventions and frames of reference which differed according to time, place and product type. Moreover, the dominance of the conventions of utility maximising and calculative homo economicus is a relatively new phenomenon, and one which directly correlates to the steady advent of capitalism in early modern Europe. This volume brings together scholars with expertise in a variety of related fields, including economic history, the history of consumption and material culture, art history, and the history of collecting, to explore changing concepts of value from the early modern period to the nineteenth century and present a new view on the advent of modern economic practices. Jointly, they fundamentally challenge traditional historical narratives about the rise of our contemporary market economy and consumer society.

Originally published in 1968, and using official records, this book charts the history of the Railway Clearing House and shows the vital role it played in the development of British railways and the growth of the economy. The Clearing House established a common classification of goods; standardized signalling systems and telegraphic codes among the 120 railway companies which operated in Britain before the First World War. It was the nerve centre of the railway for nearly a century and at one time more than 2,500 clerks were employed in its huge offices near Euston Station in London.

Until recently, the historiography of Middle Eastern economic elites during the first globalization has ignored the significant role played by Muslim tujjar (big merchant-entrepreneurs). Foreign firms and local minorities were considered the prime agents of economic change and the initiators of economic growth. The 12 studies in this volume show that the Muslim tujjar played a major economic role in various regions of the Middle East during the late nineteenth and early twentieth centuries. Their investments, mainly in commercial agriculture, resulted in economic growth and changed economic structures and social relations in many Middle Eastern communities. They were also involved in political developments, some of which had a dramatic effect on the history of their countries, as for instance in late Qajar Iran. They also played a unique role in the process of cultural change. Although they supported the 'ulama' financially, they also contributed to the establishment of new educational and cultural institutions. The story of the tujjar is unique in the sense that it was the only indigenous elite group in the pre-World War I Middle East to bridge between traditional forces and concepts and Western attitudes and practices.

There is both an extensive introduction with two parts and a reflection at the end, which sets out and summarises the volume in a clear and accessible way, helping students and readers understand the topic as a whole, and enabling them to draw their own conclusions. The chapters are diverse in approach and subject, and many deal with global issues through European mediation, giving readers a survey of the subject beyond the traditional western European lens. The book is truely original, with its emphasis on rules/regulation rather than circulation of knowledge and issues of secrecy, providing students and readers a fresh and cutting edge approach to the history of knowledge.

A provocative account of capitalism's rise to global dominance and, as different models of capitalism vie for world leadership, a look into what the future may hold. We are all capitalists now. For the first time in human history, the globe is dominated by one economic system. In Capitalism, Alone, leading economist Branko Milanovic explains the reasons for this decisive historical shift since the days of feudalism and, later, communism. Surveying the varieties of capitalism, he asks: What are the prospects for a fairer world now that capitalism is the only game in town? His conclusions are sobering, but not fatalistic. Capitalism gets much wrong, but also much right-and it is not going anywhere. Our task is to improve it. Milanovic argues that capitalism has triumphed because it works. It delivers prosperity and gratifies human desires for autonomy. But it comes with a moral price, pushing us to treat material success as the ultimate goal. And it offers no guarantee of stability. In the West, liberal capitalism creaks under the strains of inequality and capitalist excess. That model now fights for hearts and minds with political capitalism, exemplified by China, which many claim is more efficient, but which is more vulnerable to corruption and, when growth is slow, social unrest. As for the economic problems of the Global South, Milanovic offers a creative, if controversial, plan for large-scale migration. Looking to the future, he dismisses prophets who proclaim some single outcome to be inevitable, whether worldwide prosperity or robot-driven mass unemployment. Capitalism is a risky system. But it is a human system. Our choices, and how clearly we see them, will determine how it serves us.

The writings of Thomas Robert Malthus continue to resonate today, particularly An Essay on the Principle of Population which was published more than two centuries ago. Malthus Across Nations creates a fascinating picture of the circulation of his economic and demographic ideas across different countries, highlighting the reception of his works in a variety of nations and cultures. This unique book offers not only a fascinating piece of comparative analysis in the history of economic thought, but also places some of today's most pressing debates into an accurate historical perspective, thereby improving our understanding of them. Providing a complex and multi-faceted analysis of the reception and dissemination of the works of Malthus, this book examines how his approach was misunderstood and distorted throughout his lifetime and beyond. It illuminates the different ways in which groups of actors, including laymen, politicians and experts, have reacted to his work in specific historical and intellectual contexts, and with particular theoretical, political and moral concerns. Detailed breakdowns of the main controversies over his work are also explored. An insightful read for scholars studying economics and history of economic thought, this book guides readers from Malthus's original publications to their continuing impact today. This will also be a useful volume for ethics, political thought and intellectual history students. Contributors include: D. Andrews, J.L. Cardoso, D. Donnini Maccio, G. Faccarello, C. Gehrke, M. Izumo, M. Markov, D. Melnik, A. Mendes Cunha, H. Morishita, R. Romani, J. San Julian Arrupe, R. Walter

Lost Illusions, first published in 1988, analyses the differing experiences of Caribbean migration to Britain and the Netherlands, both from the perspectives of the countries and from the migrants themselves. The editors have compiled a volume of in-depth articles from experts from Britain and the Netherlands to provide an essential examination of Caribbean migration to two different European countries in the 1970s and 1980s.

Cultural Conflict and Adaptation (1990) examines the alienation and cultural conflicts faced at school by the children of a small group of Hmong who have settled in La Playa, California. The educational process for these children is an example of cultural conflict and adjustment patterns which may be found in many other populations in the world.

One Way Ticket (1983) examines the 'hidden armies' of migrant women workers who have since the 1950s fulfilled a demand for low-skilled, low paid and insecure work in both the formal and informal economies of Western Europe. It presents a new focus for the examination of labour migration and of the specific character of female employment. It looks at the relationship between motherhood, waged work and ethnicity; the position of a second generation of black women workers; and the oppression and exploitation of migrant women by their male counterparts through the creation of 'ethnic' economies.

Jamaican Migrant (1965) is the honest and moving recollection of a Jamaican cabinet-maker who emigrated to a new life in Britain. This is the book of a man who has been through the whole story in his own life - childhood in a large and humble Jamaican family, apprenticeship there, the journey to Britain as a stowaway, years in London as a Jamaican immigrant. The author takes us from Jamaica's coast, the drug-idlers and orators on the beach, the hurricanes, his father's wartime jazz band, to the problems and sophistication of girls and jobs and solitude in a London winter.

Colonial Immigrants in a British City (1979) analyses the relationship between West Indian and Asian immigrants and the class structure of a British city. Based on a four-year research project in the Handsworth area of Birmingham, the book is a study of race and community relations - political, social, economic and personal - in a major centre of immigrant settlement. It considers the relationship between housing class and class formations and consciousness in other sectors of allocation, such as employment and education. It includes a consideration of the changing political climate on race relations between 1950 and 1976.

The Development of British Immigration Law (1986) examines the policies and laws of immigration law in the UK. It demonstrates that many modern issues have historical precedents. The justifications for immigration control are examined and linked to a discussion of nationality law and race relations. It is argued that the laws and practices of immigration are unnecessarily rigid and racist, both in design and in effect; that the record of the UK is a sorry chapter in the field of human rights but one which is consistent with international state practice; that immigration is an ideal model to illustrate the UK's general treatment of civil liberties. Particular aspects of the subject are examined in depth to illustrate the attitudes of government, the courts and civil servants.