This revised and expanded book focuses on Hilferding's major work, Finance Capital. In revisiting this influential book from a methodological point of view, both historical and intellectual, the authors affirm Hilferding's place in the Marxist tradition. Hilferding's ideas are used to criticise incumbent approaches in economics and enrich existing discussions and debates about the nature of modern capitalism. In doing so, this book highlights the importance of Hilferding's work in analysing and understanding modern capitalism and corporate developments. New material looking at Hilferding's economic journalism, debates around his work in Poland, and Eugene Varga's perspective on his work is also included.The book aims to explore Hilferding's central ideas on the political economy, as well as its historical context and relation to Marx. It will be relevant to students and researchers interested in the political economy, the history of economic thought, and European politics.

This third volume of Gyllenbok's encyclopaedia of historical metrology comprises the second part of the compendium of measurement systems and currencies of all sovereign states of the modern World (J-Z). Units of measurement are of vital importance in every civilization through history. Since the early ages, man has through necessity devised various measures to assist him in everyday life. They have enabled and continue to enable us to trade in commonly and equitably understood amounts, and to investigate, understand, and control the chemical, physical, and biological processes of the natural world. The encyclopeadia will be of use not only to historians of science and technology, but also to economic and social historians and should be in every major academic and national library as standard reference work on the topic.

There are winners and losers in a capitalistic society, but capitalism does not choose who is a winner and who is a loser. The winners are those who have the right idea, sacrifice their time and money, take risks, work hard, and have a little luck and help along the way. The losers are those who rarely dream of the impossible, waste their time, spend their money foolishly, lack the courage to take risks, and fail to dedicate themselves to achieving the rewards of their efforts. Winners should receive the greatest returns for their investments and the greatest of rewards for their endeavors. While wealth may be distributed unequally, it results more from an unequal dedication to acquire this wealth. That is not only right, but it is fair.

At the heart of capitalism is choice, one of success or failure, saving or spending, and work or recreation. Capitalism is a system that allows a person to choose whether he or she wants to be a winner or a loser. Today, too many have chosen the latter and display the unbecoming traits of greed, jealously, and envy toward those who have chosen the former.

While insecurity and instability may pervade this country's economic, political and societal institutions, success can still be achieved by those who look forward rather than backward, who avoid the disadvantages of the past to take advantage of the future. In "The Choices and Consequences of Our Age," you'll learn that it's still possible to achieve success through hard work, sacrifice, and self-reliance.

The industrial revolution stands out as a key event not simply in British history, but in world history, ushering in as it did a new era of sustained economic prosperity. But what exactly was the 'industrial revolution'? And why did it occur in Britain when it did? Ever since the expression was coined in the 19th century, historians have been debating these questions, and there now exists a large and complex historiography concerned with English industrialisation. This short history of the British Industrial Revolution, aimed at undergraduates, sets out to answer these questions. It will synthesise the latest research on British industrialisation into an exciting and interesting account of the industrial revolution. Deploying clear argument, lively language, and a fresh set of organising themes, this short history revisits one of the most central events in British history in a novel and accessible way. This is an ideal text for undergraduate students studying the Industrial Revolution or 19th Century Britain.

The book analyses the establishment of De Nederlandsche Bank and its early development as a case study to test competing theories on the historical development of central banking. It is shown that the establishment of DNB can be explained by both the fiscal theory and the financial stability theory. Later development makes clear that the financial stability role of DNB prevailed. DNBs bank notes were not forced onto the public and competition was fierce. A prudent and independent stance was necessary to be able to play its intended role. This meant that DNB played a modest role in the Amsterdam money market until 1852. By 1852 it had established itself to become the central bank. By then its bank notes had become generally accepted and it could start to operate as a reserve bank. Also the market context had changed dramatically, its competitors had been driven out of the market and several credit institutions had become customers of DNB. "On the occasion of the Nederlandsche Bank's 200th Anniversary, it is good to have a new, and an extremely good, history of its founding and first fifty years of operation. The only previous account of this period of the DNB's history was legalistic and did not sufficiently place the Banks development in its wider context. Uittenbogaard's book provides a much broader, and better, story of the personnel, economics, and finance of the DNB at this juncture." - Charles Goodhart, LSE.

German economic crises from the past two hundred years have provoked diverse responses from journalists, politicians, scholars, and fiction writers. Among their responses, storylines have developed as proposals for reducing unemployment, improving workplace conditions, and increasing profitability when stock markets tumble, accompanied by inflation, deflation, and overwhelming debt. The contributors to Invested Narratives assess German-language economic crisis narratives from the interdisciplinary perspectives of finance, economics, political science, sociology, history, literature, and cultural studies. They interpret the ways German society has tried to comprehend, recover from, and avoid economic crises and in doing so widen our understanding of German economic debates and their influence on German society and the European Union.

First published in 1867, Capital, or Das Kapital, is the infamous treatise on economics and capitalism by Prussian revolutionary KARL MARX (1818-1883), who changed history with his 1848 book The Communist Manifesto. In this work, edited by Marx's friend, German philosopher FRIEDRICH ENGELS (1820-1895), Marx systematically analyzes the way the capitalist machine functions. In this academic work written for students and serious thinkers, he explores wages, competition, banking, rent, and the natural laws that seem to govern the development of capitalism without any oversight by the society in which it developed. Originally published in three volumes, Capital is here presented in five volumes. Volume III, Part 1 covers: . The Conversion of Surplus-Value into Profit and of the Rate of Surplus-Value into the Rate of Profit . Conversion of Profit into Average Profit . The Law of the Falling Tendency of the Rate of Profit . Transformation of Commodity-Capital and Money-Capital Into Commercial Capital and Financial Capital . Division of Profit Into Interest and Profits of Enterprise

This collection brings together a range of case studies by both established and early career scholars to consider the nexus between business and development in post-colonial Africa. A number of contributors examine the involvement of European companies (most notably those of former colonial powers) in development in various African states at the end of empire and in the early post-colonial era. They explore how businesses were not just challenged by the new international landscape but benefited from the opportunities it offered, particularly those provided by development aid. Other contributors focus on the development agencies of the departing colonial powers to consider how far these served to promote the interests of European companies. Together these case studies constitute an important contribution to our understanding of both business and development in post-colonial Africa, redressing an imbalance in existing histories of both business and development which focus predominantly on the colonial period. This volume breaks new ground as one of the very first to bring the study of foreign companies and development aid into the same frame of analysis

The main focus of the volume - the processes of choice and decision-making in different economic systems - offers exceptional scope for the convergence of economic and anthropological perspectives. It concentrates on transactions that both express and influence social relationships and values. Covering a wide geographic area there are specific studies on societies in Equatorial Africa, Colombia, South India and the Balkans. First published in 1967.

For much of the twentieth century, the prevalence of dictatorial regimes has left business, especially multinational firms, with a series of complex and for the most part unwelcome choices. This volume, which includes essays by noted American and European scholars such as Mira Wilkins, Gerald Feldman, Peter Hayes, and Wilfried Feldenkirchen, sets business activity in its political and social context and describes some of the strategic and tactical responses of firms investing from or into Europe to a myriad of opportunities and risks posed by host or home country authoritarian governments during the interwar period. Although principally a work of history, it puts into perspective some commercial dilemmas with which practitioners and business theorists must still unfortunately grapple.

This collection begins with the cultural renaissance of the early 20th century, the rebellion against Western and Japanese imperialism after 1919, the rise of the Nationalist and Communist movements and their conflict in mainland China until the Communist victory of 1949. After that, the focus is on the revolutionary changes under Mao Zedong's regime, and the ideological struggles after his death. Under Deng Ziaoping economic reform prompted rapid growth but also led to calls for greater political freedom, culminating in the Tiananmen protests of 1989. The final chapters illustrate the problems the regime faces today, including the ambitions of the Tibetan minority, and social issues such as unemployment and corruption. Next to domestic issues, China's role in the Korean War and changing relations with the USA and Soviet Union are also covered.
The collection includes classic documents as well as less accessible extracts, including a number available in English for the first time. Anyone interested in the modern history of China will find "China Since 1919 "an invaluable source of information.

This book presents a substantial collection of essays from a wide range of well respected scholars addressing several aspects of Piero Sraffa's economics in light of continuing controversies over the interpretation that should be placed on his work. It moves beyond extant scholarship with an added emphasis on the philosophical dimension of Sraffa's seminal work, Production of Commodities by Means of Commodities. Contributors probe new ways of thinking about the political economy of Sraffa and in doing so, alongside the comments to each contribution by other scholars, provide a cutting edge debate and discussion on non-mainstream economic theory. This book will be of interest to academics and advanced graduate students in economics, with additional interest from scholars in philosophy and the methodology of science.

Traditionally economic anthropology has been studied by sociologists, anthropologists and philosophers seeking to highlight the social foundations of economic action. Meanwhile, anthropological questions have remained largely untreated in economics, despite the prominence given to the individual in microeconomics. And there is very little in the way of dialogue between the two sides. This book argues for a new economic anthropology which goes beyond the conflict of economics and anthropology to show the complementarity of the two approaches. Economics needs to go beyond the stage of homo oeconomicus and be open to broader ideas about the person. Equally, anthropology can be enriched through the methods and models of economic theory. This new economic anthropology goes beyond a simple observation of societies. It is new because it introduces the responsible person with a wider range of characteristics, in particular vulnerability and suffering, as a subject of economics. It is a particular interpretation of economic anthropology calling for a broadening of the subject (moving from the individual to the person), range of values (admission of negative values for altruism, social capital, responsibility), and disciplinary references. Through this approach, both economics and anthropology can be enriched. This book will be of great interest to those working in the fields of economics, anthropology, philosophy and development studies.

Western Enterprise in Far Eastern Economic Development charts the activities of Western firms in China and Japan from the middle of the nineteenth century, when those countries were opened to foreign trade, until recently. The organization of the Western business undertakings, the types of firms concerned and relations between the Westerners and the Japanese and Chinese economies are all discussed. Among the economic activities covered are: merchant banking, finance, manufacturing, mining, shipping and domestic transport. A dominant theme is the contrast presented by China and Japan in their response to Western enterprise.

Discussing the process of economic development in Japan, this book covers the period from when Japan first entered upon her career of Westernization to the beginning of the war with China in 1937. The main emphasis is on industrial and financial development and organization and on economic policy. Among the industries discussed are agriculture, textiles, steel and shipping. A comprehensive glossary and bibliography are included and much of the statistical information is tabulated for ease of reading.

Depression and Protectionism considers the case of the oldest advocate of free trade and its greatest exponent, Britain, and examines the developments that led to the reversal of that policy in the 1930s. It also discusses the consequences of the protectionst policy for the domestic economy. * Discusses the most important debate in international economics * Using an explicit economic framework, the book examines the economic origins of the industrial tariff in Britain.

The essays in this book focus on the controversies concerning Britain's economic performance between the mid-nineteenth century and the First World War. The overriding theme is that Britain's own resources were consistently more productive, more resilient and more successful than is normally assumed. And if the economy's achievement was considerable, the influence on it of external factors (trade, international competition, policy) were much less significant than is normally supposed. The book is structured as follows: Part One: The Method of Historical Economics Part Two: Enterprise in Late Victorian Britain Part Three: Britain in the World Economy, 1846-1913.

This study of economic reforms throughout Eastern Europe covers the history of attempts at decentralization. The book: describes the centralized model and compares its requirements with the realities of socialist countries; discusses the economic policies of the post-Stalinist period; and examines the origin of the reforms which began in 1956, culminating in the Soviet economic reform of 1965 and the rehabilitation of profit. The countries it covers include the former USSR, the former East Germany and Hungary.

Contents:
Part 1. The Schoolmen and their problems
1. The Beginning of Scholasticism in the British Isles
2. Commerce and Ethics
3. Growth of Trade and Commerce
4. Conflict between Ethics and Economics

Part 2. Alexander of Hales (Alensis)
1. Community and Private Property
2. Trade and Commerce
3. Aristotle and the Schoolmen
4. Usury

Part 3. Richardus de Media Villa
1. Community and Liberty
2. Lawfulness of Trade and Commerce
3. Difference between Gain and Interest

Part 4. John Duns Scotus
1. Remarks on his Life and Work
2. Origin of Property and State
3. Trade and Commerce
4. Usury

Part 5. The Legacy of the Schoolmen
1. Preparing the Way for Modern Times
2. William of Ockham
3. Influence on Modern Views

Part 6. The Age of Mercantilism: General View
1. Definition of Mercantilism
2. Importance of Coin and Bullion
3. The Mechanism of Bullionist Policy
4. The Ethics of the Angevin Trade Legislation
5. The Two Periods of Mercantlism

Part 7. Sixteenth Century Economics
1. Price Revolution and Money Difficulties
2. The 'Dearth' and Debasement of the Coinage
3. John Hales on the Nature of Money
4. Influx of West Indian Treasure
5. Delivering Money by Exchange
6. Gerard Malynes and Thomas Milles against Exchangers
7. Excess of Imports
8. The Prime Cause of the Economic Difficulties
9. The Quantity Theory of Money: John Locke

Part 8. Balance of Trade
1. Mediaeval and Modern Conception of Trading
2. Rise of the term "Balance of Trade"
3. Origin of Some Ideas of the Balance of Trade
4. Thomas Mun and Edward Misselden
5. Influence of the Balance of Trade Doctrine

Part 9. Importance of Manufacture
1. Arts and Crafts as a Source of Treasure
2. Beginning of the Protective System
3. Sir William Petty on Money, Value and International Trade
4. Petty and his Contemporaries on Labour, Population and Wages
5. Conflict between Crown and Merchants

Part 10. Recapitualation
1. Meaning of the Balance of Trade
2. Mercantilism and Foreign Politics

Part 11. Transition to Liberal Economics
1. Introductory Remarks
2. Manufacture, Credit, Banking and Free Trade
3. The Ant-Mercantilists: Child, Barbon, Davenant
4. The Free-Trade Maxims of Dudley North
5. The Economics of the Free-Trade Doctrine
6. Jacob Vanderlint, Matthew Dekker, and Joseph Massie
7. David Hume

Retrospect: British Economies in 1750

This book illustrates how the first social science, that of economics, was built. It examines and discusses the work of Josiah Child, Nicholas Barbon, John Collins, William Petty, John Locke and Dudley North and the economic theories of the seventeenth and eighteenth centuries.

This was the first comprehensive study of the City of London to be published. The study examines the economic structure of the city and considers the main influences likely to affect the development of the City, including the pattern of demand, technological change, population movements, supply of labour and land values. Particular attention is paid to the City's international role. Specific chapters are devoted to Banking & Finance, Insurance, Trade, Commerce and the Port, and the Manufacturing Industry. The book is supported with a wealth of statistical material based on original research and contains 116 tables and 28 diagrams.

This book presents a chronology of state policy in industry since the 1500s to the mid twentieth century, and explains the ideas that have shaped it. Includes chapters on: The state and exploitation; state participation in industry; state information and services; state operation of industry and state control over industry.

The studies in this volume are a result of the Social Reconstruction Survey carried out by Nuffield College, Oxford between 1941 and 1944. The Survey studied the position and prospects of towns or areas in Britain in order to find out what was likely to happen to their industrial development with a view to planning for the post-war location of industry and distribution of population. The result is an invaluable source of empirical material for the study of British industry in the mid twentieth century. Industries covered include: * Natural Textiles, Artificial Textiles, Carpets, Footwear * Extensive use of statistical information for imports and exports, production costs, employment figures etc.