This title was first published in 2003. Few historians would deny that Louis XIV's France dominated the political, cultural and military landscape of late seventeenth century Europe. Yet, the financial foundations on which French hegemony were based remain open to question. Traditionally the regime has been viewed as the archetypal centralizing monarchy in which warfare was the main motor driving reform. Yet recent research has pointed to a more subtle interpretation in which power was negotiated and interests balanced between the crown and members of the elite. Corps and Clienteles offers a unique approach to this debate by focusing on the intersection between institutions and personal relationships in the financial strategies surrounding Louis XIV's final two wars. It argues that, in appealing to the elite for financial support to wage war, Louis in return stabilised many of the structures on which the elite stood, entrenched elements of privilege throughout the political landscape, and devolved power to provincial institutions. Especially with the participation of privileged corps as financial intermediaries, the politics of war finance in the last twenty five years of Louis' reign profoundly influenced the direction in which absolutism developed through the remainder of the Old Regime. The book situates the period 1688 to 1715 as a crucial stage in the development of absolutism; tying the choices available to Louis XIV with the structures and institutions that he inherited from his predecessors, while setting his approach apart. By also measuring the impact of financial negotiations between crown and corps on the later state, it is argued that absolutism under Louis was neither ossified nor in crisis, as the latter half of his reign is often described, but rather dynamic and flexible as it sought to meet the financial costs of warfare.

'This wise and lucid guide to pluralism in economics embodies the values of its cause. Generous, open-minded, fair, accurate and accessible: John Harvey's new book is a fine achievement that every economics major should read.' - James K. Galbraith, The University of Texas at Austin, USJohn Harvey's accessible book provides a non-technical yet rigorous introduction to various schools of thought in economics. Premised on the idea that economic thinking has been stunted by the almost complete rejection of anything outside the mainstream, the author hopes that this volume will open readers' minds and lead them in new and productive directions. In his exploration of Neoclassical, Marxist, Austrian, Post Keynesian, Institutionalist, New Institutionalist and Feminist schools of thought, unique features of each approach are highlighted, complemented by discussions of methodology, world views, popular themes, and current activities. Accurate and impartial, every chapter covering a heterodox school of thought has been vetted by an acknowledged expert in that field. Though written for use in undergraduate courses, this guide will no doubt offer a great deal to any scholar wishing to gain a fresh perspective and greater understanding of the variety and breadth of current economic thinking.

Since 2008, profound questions have been asked about the driving forces and self-regulating potential of the economic system, political control and morality. With opinion turning against markets and self-interest, economists found themselves on the wrong side of the argument. This book explores how the past of economics can contribute to today's debates. The book considers how economics took shape as philosophers probed into the viability of commercial society and its potential to generate positive-sum outcomes. It explains how dreams of affluence, morality and happiness were built upon human greed and vanity. It covers the bumpy road of the construction and reconstruction of this dream, exploring the debate on the foundations, conditions and limitations of the idea of the social utility of greed and vanity. Revisiting this debate provides a rich source of ideas in rethinking economics and the basic beliefs concerning our economic system today.

Economic development is full of discontinuities. Mainstream economists perceive these as external disturbances to a natural state of equilibrium, but this book argues that much of the discontinuities are part of economic development, suggesting that patterns can be understood with structural analysis. Structural Analysis and the Process of Economic Development presents a detailed analysis of the trajectory of Swedish economic change since the nineteenth century. The emergence of structural analysis in economic research is reviewed, as well as a chapter devoted to development blocks, a key concept that was outlined in the 1940s and that has much in common with the more recent notions 'techno-economic paradigms' and 'general-purpose technologies'. Structural analysis and the major contributions by Schoen are introduced in this book. Also highlighted is Sweden's integration into the international economy via the nineteenth century capital markets, along with structural analysis as a tool for understanding climate change. The recent technique of wavelet analysis and its potential for structural analysis is demonstrated in a non-technical chapter. This book is suitable for those who are interested in and study political economy, economic history and European history.

Originally published in 2005. In the past three centuries Britain, Continental Europe and the United States have all experienced remarkable continuity in terms of the character and nature of the relations between the State and the economy. In a fascinating and eminently readable account, this book examines the significance of ideology in the formation of economic policy in the two groups of countries, comparing and contrasting the minimalist state-ownership societies of Britain and the United States with the interventionist states of Continental Europe. The book uncovers a continued contrast between the economic and social individualism of Britain and the United States, and the reliance on the State typical of nations in Continental Europe. The readership will benefit from a clearer understanding of the varying degrees of intervention in both the domestic and international economic policies employed, and the illuminating comparisons between the Continentals and the more market orientated nations of Britain and the United States.

Published in 1963: The object of this monograph is to trace the beginnings of Protectionism in England. Towards the last quarter of the seventeenth century, the Mercantile system became increasingly protectionist in aim, and this is disclosed by the numerous controversies that raged in the sphere of foreign trade at the time.

This book reveals the surprising role that credit, money created ex nihilo by financiers, played in raising the British government's war loans between 1793 and 1815. Using often overlooked contemporary objections to the National Debt a startling paradox is revealed as it is shown how the government's ostensible creditors had, in fact, very little "real" money to lend and were instead often reliant for their own solvency upon the very government they were lending to. By following the careers of unsuccessful loan-contractors, who went bankrupt lending to the government, to the triumphant career of the House of Rothschild; who successfully "exported" the British system of war-financing abroad with the coming of peace, the symbiotic relationship that existed between the British government and their ostensible creditors is revealed. Also highlighted is the power granted to the (technically bankrupt) Bank of England over credit and the money supply, an unprecedented and highly influential development that filled many contemporaries with horror. This is a tale of bankruptcy, stock market manipulation, bribery and institutional corruption that continues to exert its influence today and will be of interest to anyone interested in government financing, debt and the origins of modern finance.

Now in its fifth edition, this book explores the ways in which the industrial revolution reshaped world history, covering the international factors that helped launch the industrial revolution, its global spread and its impact from the end of the eighteenth century to the present day. The single most important development in human history over the past three centuries, the industrial revolution continues to shape the contemporary world. Revised and brought into the present, this fifth edition of Peter N. Stearns' The Industrial Revolution in World History extends his global analysis of the industrial revolution. Looking beyond the West, the book considers India, the Middle East and China and now includes more on key Latin American economies and Africa as well as the heightened tensions, since 2008, about the economic aspects of globalization and the decline of manufacturing in the West. This edition also features a new chapter on key historiographical debates, updated suggestions for further reading and boxed debate features that encourage the reader to consider diversity and different viewpoints in their own analysis, and pays increased attention to the environmental impacts. Illustrating the contemporary relevance of the industrial revolution's history, this is essential reading for students of world history and economics, as well as for those seeking to know more about the global implications of what is arguably the defining socioeconomic event of modern times.

Presents a comprehensive overview of the field, with a focus on the comparison between economic institutions and systems. Offers a wide discussion of the various themes or aspects of comparative economic studies. Enables readers, via a single repository, to upgrade their knowledge and expertise in a thriving field, which has important implications for globalization and supranational integration.

For the first time, Early Modern Streets unites the diverse strands of scholarship on urban streets between circa 1450 and 1800 and tackles key questions on how early modern urban society was shaped and how this changed over time. Much of the lives of urban dwellers in early modern Europe were played out in city streets and squares. By exploring urban spaces in relation to themes such as politics, economies, religion, and crime, this edited collection shows that streets were not only places where people came together to work, shop, and eat, but also to fight, celebrate, show their devotion, and express their grievances. The volume brings together scholars from different backgrounds and applies new approaches and methodologies to the historical study of urban experience. In doing so, Early Modern Streets provides a comprehensive overview of one of the most dynamic fields of scholarship in early modern history. Accompanied by over 50 illustrations, Early Modern Streets is the perfect resource for all students and scholars interested in urban life in early modern Europe.

Banking historiography often does not sufficiently take into account bankers' deliberations of their decision making, but rather limits investigation to considerations of profit maximisation. This book shows that the decision-making processes of nineteenth-century bankers contemplating high-risk financial markets like Greece are just as complex as present-day investment decisions. The book, now published in English after a first German edition, offers in-depth studies of decision making in concrete historical situations, considering political and economic circumstances and also the individual background of the actors concerned, including a reflection on the influence of cultural movements such as Philhellenism. Employing methodological inspirations from the field of behavioural finance, the book analyses a broad range of published and unpublished English, French, Greek, German and Swiss sources on European investment in Greece between 1821 and the Balkan wars. Additionally, rich insights into Greek economic history, the economic integration of the country into Europe and long-lasting European stereotypes of Southern Europe and Greece are provided; this furthers understanding of the historical background of the Greek financial crisis after 2009. In combining the perspectives of financial, economic, political and cultural history, this book is primarily significant for students of various fields of historiography. Due to its strong awareness of methodological questions, it is also of great interest to academic historians. In addition, the strong public interest in the Greek financial crisis after 2009 and its consequences for Europe will, thirdly, attract the interest of a broader public.

How did "innovation" become something to strive for, an end in itself? And how did "the market" come to be thought of as the space of innovation? This edited volume provides the first historical examination of how innovations are conceived, marketed, navigated and legitimated from a global perspective that highlights contrasting experiences. These experiences include: colonial "projecting" in the Dutch New Netherlands, trust networks in the early US securities market, female investors during the Financial Revolution, life insurance in nineteenth-century France, "bubbles" and trusts in 1920s Shanghai, government regulation of the pre-Revolutionary stock market and the checkered success of today's bit-coin technology. By discussing these diverse contexts together, this volume provides a pathbreaking reconsideration of market and business activities in light of both the techniques and the emotional vectors that infuse them.

Sixteenth-century Europe was powered by commerce. Whilst mercantile groups from many areas prospered, those from the Low Countries were particularly successful. This study, based on extensive archival research, charts the ascent of the merchants established around Antwerp.

Throughout history rivers have always been a source of life and of conflict. This book investigates the Central Commission for the Navigation of the Rhine's (CCNR) efforts to secure the principle of freedom of navigation on Europe's prime river. The book explores how the most fundamental change in the history of international river governance arose from European security concerns. It examines how the CCNR functioned as an ongoing experiment in reconciling national and common interests that contributed to the emergence of European prosperity in the course of the long nineteenth century. In so doing, it shows that modern conceptions and practices of security cannot be understood without accounting for prosperity considerations and prosperity policies. Incorporating research from archives in Great Britain, Germany, and the Netherlands, as well as the recently opened CCNR archives in France, this study operationalises a truly transnational perspective that effectively opens the black box of the oldest and still existing international organisation in the world in its first centenary. In showing how security-prosperity considerations were a driving force in the unfolding of Europe's prime river in the nineteenth century, it is of interest to scholars of politics and history, including the history of international relations, European history, transnational history and the history of security, as well as those with an interest in current themes and debates about transboundary water governance. The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

This book examines Shanxi piaohao-private financiers from the Chinese hinterland-in the economic and business history of late imperial China, forming the original theory of Chinese hinterland capitalism. Deepening the existing understanding of capitalist dynamics at work in the families and financial institutions of late imperial China, the book foregrounds the expansionist role played by Shanxi piaohao in transforming China's market and trade from an agrarian empire to a modern nation state. In a departure for economic history, it also focuses on the histories of the people and their lifeworlds behind financial institutions, which have previously been erased by universal capitalist narratives. Persistent binary oppositions between coastal areas and hinterland; state and market; and institutions and families are each transcended in recounting the local histories of global capital in the marginalized countryside and borderlands of China. Based on a wealth of archival material and correspondence with Shanxi piaohao offices and branches, Chinese Hinterland Capitalism and Shanxi Piaohao will appeal to students and scholars of Chinese and economic history, anthropology, and postcolonial studies more generally.

Located in central Ethiopia, the Arssi region is one of the most productive in Ethiopia yet it has so far been neglected by scholars. This book scrutinizes the rural development of Arssi by focusing on the Swedish supported experimental venture known as the Chilalo Agricultural Development Unit (CADU) and later as the Arssi Rural Development Unit (ARDU). Ketebo Abdiyo Ensene investigates how effectively this strategy empowered the peasantry to change their farming techniques and produce beyond subsistence level. He also examines the accumulation of alienated land by the northern Ethiopian nobility through land grants, fake purchases, and other futile means of land grabs and the impact that this had on the native population. Finally, the book reassess the importance of the rural land reform of 1975 that followed the collapses of the imperial regime and argues that this was the most significant event in the history of agricultural development in Ethiopia. The assessment of the book in fact goes into the post-1991 period in relation with agrarian development. The Political Economy of Land and Agrarian Development in Ethiopia will be of interest to scholars of Ethiopia, African Studies, economic history, political economy, development and agriculture.

The past century has witnessed profound transitions in Brazil's economy: from a surge of industrialization connected to export economy, to state projects of importsubstitution industrialization, followed by a process of neoliberal global market integration. How have Brazilian entrepreneurs and businesses navigated these contexts? This comprehensive text explores the institutional and sectoral structure of the Brazilian economy through a collection of new case studies, examining how key institutions work within Brazil's specific economic, political and cultural context. Offering a long-term evolutionary perspective, the book explores Brazil's economic past in order to offer insights on its present and future trajectory. The contributions gathered here offer fresh insights into representative sectors of Brazil's economy, from aerospace to software, television, music and banking, paying particular attention to sectors that are likely to drive future growth. Chapters include questions about the roles of foreign and state capital, changes in market regulation, the emergence of new technologies, the opening of markets, institutional and organizational frameworks, and changing management paradigms. When examined together, the contributions shed light not only on Brazilian business history, but also on the country as a whole. Brazil's Economy: An Institutional and Sectoral Approach offers fascinating reading for anyone with an interest in: Latin American Economics; the business history of the region; and in doing business in present-day Latin America.

With contributions from world-renowned figures such as Niall Ferguson and Adair Turner, this volume investigates how financial institutions and markets have undergone or reacted to past pressures, and the regulatory responses that emerged as a result.

Urban history is a rapidly expanding interdisciplinary field of research. The rate of urban growth in the twentieth century has also stimulated interest in the city as an object of socio-historical inquiry. Some historical studies on individual Indian cities like Bombay, Calcutta, Cawnpore, Delhi, Bangalore, Ahmedabad, Surat and Madras have primarily explored the growth of urban centres by tracing their histories under colonial rule. This study offers a macro picture of the urban process under British administration, giving an understanding of how colonial capitalism shaped and imposed urban patterns in India. It contextualizes the urbanization of India in the world capitalist system of the late nineteenth and early twentieth century, explaining the multifaceted historical conditions in 1857, just before the imposition of direct Crown rule. Sahoo examines the socio-economic developments and demographic changes in India under British rule and analyzes the impact of the world capitalist economy, the pattern of urbanization under British rule, and the contribution of railways to urbanization. This volume is a profile of India's primate cities, identifying the core, the periphery and the underdeveloped hinterlands.

In this book Gavin Peebles and Peter Wilson offer an historical overview of the rapid growth and development of the Singapore economy, detailing the institutions and policies which have made this growth possible. They examine the current state of the economy and its future in terms of prospective growth and structural change. The authors discuss the conflicting views on the role of government and the public sector in the economy, and analyse the quality and sustainability of growth. They explore the structural changes which have occurred due to high rates of savings and investment, a large balance of payments surplus and monetary, financial and fiscal conditions. Important in this analysis is the extent to which Singaporeans themselves have benefited in terms of welfare. The authors also identify the key roles played by trade policy, and financial and exchange rate institutions in creating and sustaining growth. In the aftermath of the Asian financial crisis, they assess the current health of the economy and the implementation of reforms to achieve the government's vision of a 'New Singapore'. Based on the authors' own combined experiences of living in Singapore for over 20 years, this broadbased and analytical book sheds light on Singapore's status in the world economy. The integration of economic, social and political perspectives will ensure the book's broad appeal amongst scholars, students and researchers interested in growth and economic development in Singapore and South-east Asia.

The financial crisis and the economic crisis that followed triggered a crisis in the subject of economics, as it is typically being taught today especially in macroeconomics and related fields. A renewed interest in earlier authors, especially the classical economists from Adam Smith to David Ricardo and John Maynard Keynes, developed. This book may also be seen as a response to this interest. What can we learn from the authors mentioned, what we could not learn from the mainstream? This volume contains a selection of essays which deepens and widens the understanding of the classical approach to important problems, such as value and distribution, growth and technical progress, and exhaustible natural resources. It is the fourth collection in a row and reflects an on-going discussion of the fecundity of the classical approach. A main topic of the essays is a comparison between the classical approaches with modern theory and thus an identification of what can be learned by elaborating on the ideas of Smith and Ricardo and Marx above and beyond and variously in contradiction to certain mainstream view. Since the work of Piero Sraffa spurred the revival of classical economic thought, his contributions are dealt with in some detail. The attention then focuses on economic growth and the treatment of exhaustible resources within a classical framework of the analysis.

John F. Henry is an eminent economist who has made important contributions to heterodox economics drawing on Adam Smith, Karl Marx, Thorstein Veblen, and John Maynard Keynes. His historical approach offers radical insights into the evolution of ideas (ideologies and theories) giving rise to and/or induced by the changes in capitalist society. Essays collected in this festschrift not only evaluate John Henry's contributions in connection to Marx's and Veblen's theories, but also apply them to the socio-economic issues in the 21st century. In Part I leading heterodox economists in the traditions of Marxism, Post Keynesianism, and Institutionalism critically examine Marx's and Veblen's theoretical frameworks (and their connections to each other) that have become the foundations of heterodox economics. Chapters in Part II showcase alternative theoretical explanations inspired by Marx, Veblen, and Henry. Topics in this Part include financial crisis, financialization, capital accumulation, economics teaching, and the historical relationship between money and class society. Part III is devoted to John Henry's heterodox economics encapsulated in his "farewell" lecture, interview, and bibliography. Essays in this book, individually and collectively, make an important point that the history of economic thought (or historical analysis of economic theory and policy) is an integral part of developing heterodox economics as an alternative theoretical framework. Anyone who is troubled by the recurring failure of capitalism as well as mainstream economics will find this book well worth reading.

According to the standard position of the economic mainstream, the efficient production of so-called public goods, including law and defense, requires the use of territorial monopolies of coercive force. Two arguments are put forward for this position: a "positive" one, based on the claim that only such institutions can successfully supply society with crucial public goods, and a "negative" one, based on the claim that such institutions by themselves constitute inevitable "public bads". This book challenges this assumption by utilizing the insights of the Austrian School of Economics, New Institutionalism, constitutional political economy, and other heterodox economic approaches, combined with economically informed ethical analysis. It puts forward a positive case for voluntary social organization that offers new insights into the intersection of economic logic, social philosophy, institutional analysis, and the theory of entrepreneurship. In other words, in an attempt to draw on the interdisciplinary spirit of classical political economy, this book aims at providing a comprehensive economic and ethical case for extending the applicability of voluntary, entrepreneurial cooperation to the realm of creating and sustaining legal and protective services together with attendant institutional frameworks.

In recent years, Israel has deeply and quickly transformed itself from a self-perceived social-democratic regime into a privatized and liberalized "Start-Up Nation" and a highly divided society. This transition to neoliberalism has been coupled with the adoption of a hawkish and isolationist foreign policy. How can such a deep change be explained? How can a state presumably founded on the basis of socialist ideas, turn within a few decades into a country characterized by a level of inequality comparable to that of the United States? By presenting a comprehensive and detailed analysis of the evolution of the Israeli economy from the 1930s to the 1990s, The Israeli Path to Neoliberalism seeks to explain the Israeli path to neoliberalism. It debunks the 'from-socialism-to-liberalization' narrative, arguing that the evolution of Israeli capitalism cannot be described or explained as a simple transplantation of imported economic models from advanced liberal democracies. Rather, it asserts that the Israeli variant of capitalism is the product of the encounter between imported Western institutional models and policy ideas, on the one hand, and domestic economic, social and security policy problems on the other. This mechanism of change enables us to understand the factors that gave rise to Israel's unique combination of liberalization and strong national sentiments. Providing an in-depth analysis of Israel's transformation to neoliberalism, the book is a valuable resource for those studying the economic history of Israel, or the political economy of late-developing countries.

The Soviet Economy is a well informed work which seeks to acquaint students with the structure and problems of the economy of the USSR, analysing the practical and theoretical problems within the institutional structure of the Soviet system.