This is the opus magnum of one of the world's most renowned experts on the history of economic thought, Bertram Schefold. It contains commentaries from the series Klassiker der Nationaloekonomie (Classics of Economics), which have been translated into English for the first time. Schefold's choices of authors for this series, which he has edited since 1991, and his comments on the various re-edited works, are proof of his highly original and thought-provoking interpretation of the history of economic thought. Together with a companion volume, Great Economic Thinkers from Antiquity to the Historical School: Translations from the series Klassiker der Nationaloekonomie, this book is a collection of English translations with introductions by Bertram Schefold. The emphasis of this volume is on the theoretical debates, from the theory of value to imperfect completion; from money to the institutional framework of society; and from the history of economic thought to pioneering works in mathematical economics. This volume is an important contribution to the history of economic thought, not only because it delivers original and fresh insights about well-known figures, such as Marx, Stackelberg, Sraffa, Samuelson, Tooke, Hilferding, Schmoller and Chayanov, but also because it deals with ideas and authors who have been forgotten or neglected in previous literature. This volume is of great interest to those who study the history of economic thought, economic theory and philosophy, as well as those who enjoyed the author's previous volume, Great Economic Thinkers from Antiquity to the Historical School.

This book deals with two key aspects of the history of steam engines, a cornerstone of the Industrial Revolution, specifically the road that led to its discovery and the process of diffusion of the early steam engines. The first part of the volume outlines the technological and scientific developments which took place between the 16th and 18th centuries, proving critical for the invention of this strategic technology. The most important question addressed is why did England come up with this innovation first as opposed to other countries (e.g., France, Italy), which were more advanced in terms of knowledge pertinent to it. The second part of the volume traces the process of diffusion of the early steam engines, the Newcomen model, through to 1773, the year prior to the first commercial application of the second generation of steam engines (the Watt model). The process of diffusion is quantified on the basis of a novel method before proceeding with a discussion of the main determinants of this process. Kitsikopoulos pulls together a large amount of relevant evidence found in primary sources and more technically oriented literature which is often ignored by economic historians. This book will be of interest to economic historians and historians of technology.

Economics tends to teach that developed countries have good institutions while developing countries do not, and that this is the factor that constrains the latter's growth. However, the picture is far messier than this explanation suggests. Building on the varieties of capitalism framework, this book brings together the tools of institutional economics with historical analyses of institutional evolution of different kinds of property rights and legal systems, protected by different kinds of state, giving rise to distinct corporate governance structures. It constructs institutional development histories across leading liberal capitalisms in Britain and the United States, compared with continental capitalisms in France and Germany, and contemporary transitional capitalisms in China and Tanzania. This volume is innovative in combining both historical and economic insights, and in combining developed country with developing country institutional emergence, dispelling the prevailing sense of complacency about the inevitability of the path of institutional development for the developed areas of the world and the paths that developing countries are likely to follow. This volume will be of great importance to those who study international economics, development economics and international business.

Is it possible to generate "capitalist spirit" in a society, where cultural, economic and political conditions did not unfold into an industrial revolution, and consequently into an advanced industrial-capitalist formation? This is exactly what some prominent public intellectuals in the late Ottoman Empire tried to achieve as a developmental strategy; long before Max Weber defined the notion of capitalist spirit as the main motive behind the development of capitalism. This book demonstrates how and why Ottoman reformists adapted (English and French) economic theory to the Ottoman institutional setting and popularized it to cultivate bourgeois values in the public sphere as a developmental strategy. It also reveals the imminent results of these efforts by presenting examples of how bourgeois values permeated into all spheres of socio-cultural life, from family life to literature, in the late Ottoman Empire. The text examines how the interplay between Western European economic theories and the traditional Muslim economic cultural setting paved the way for a new synthesis of a Muslim-capitalist value system; shedding light on the emergence of capitalism-as a cultural and an economic system-and the social transformation it created in a non-Western, and more specifically, in the Muslim Middle Eastern institutional setting. This book will be of great interest to scholars of modern Middle Eastern history, economic history, and the history of economic thought.

Macroeconomic Principles and Problems: A Pluralist Introduction offers a comprehensive overview of the major topics in modern macroeconomics, from mainstream and heterodox perspectives. This textbook examines the key macroeconomic problems and policy debates facing contemporary society, including economic crises, sustainability, fiscal and monetary policy, government debt, state-led vs. market-led approaches for growth, and unregulated trade vs. protectionism. Written in an engaging style and focused on real-world examples, this textbook brings macroeconomics to life. Multiple examples of how each economic model works, coupled with critical analysis of the assumptions behind them, enable students to develop a sophisticated understanding of the material. Digital supplements are also available for students and instructors. Macroeconomic Principles and Problems offers the most contemporary and complete package for any pluralist macroeconomics principles class.

Changes in the dynamics of economic activities since the last decades of the 20th century have yielded major changes in the composition of industries and the division of labor and production across different regions of the world. Despite these shifts in the global economy, some industries have remained competitive even without relocating their operations overseas. Industries and Global Competition examines how and why the specificities of certain industries and firms determined their choice of location and competitiveness. This volume identifies the major drivers of this process and explains why some firms and industries moved to other parts of world while others did not. Relocation was not the sole determinant of the success or failure of firms and industries. Indeed some were able to reinvent themselves at their original location and build new competitive advantages. The path that each industry or firm took varied. This book argues that the specific characteristics of each industry defined the conditions of competitiveness and provide a wide range of cases as illustrations. Aimed at scholars, researchers and acadmeics in the fields of business history, international business and related disciplines Industries and Global Competition exmaines the unique questions; How and why did the specificities of certain industries and firms determine their choice of location and competitiveness?

This volume marks the first sustained study to interrogate how and why issues of sexuality, desire, and economic processes intersect in the literature and culture of the Victorian fin de siecle. At the end of the nineteenth-century, the move towards new models of economic thought marked the transition from a marketplace centred around the fulfilment of 'needs' to one ministering to anything that might, potentially, be desired. This collection considers how the literature of the period meditates on the interaction between economy and desire, doing so with particular reference to the themes of fetishism, homoeroticism, the literary marketplace, social hierarchy, and consumer culture. Drawing on theoretical and conceptual approaches including queer theory, feminist theory, and gift theory, contributors offer original analyses of work by canonical and lesser-known writers, including Oscar Wilde, A.E. Housman, Baron Corvo, Vernon Lee, Michael Field, and Lucas Malet. The collection builds on recent critical developments in fin-de-siecle literature (including major interventions in the areas of Decadence, sexuality, and gender studies) and asks, for instance, how did late nineteenth-century writing schematise the libidinal and somatic dimensions of economic exchange? How might we define the relationship between eroticism and the formal economies of literary production/performance? And what relation exists between advertising/consumer culture and (dissident) sexuality in fin-de-siecle literary discourses? This book marks an important contribution to 19th-Century and Victorian literary studies, and enhances the field of fin-de-siecle studies more generally.

`Here is a feast of diagrams, presented by many expert authors in a context of history of thought. It will be very useful for researchers, students and textbook writers.' - Max Corden, University of Melbourne, Australia `Francis Collins oversaw the human genome project. Mark Blaug and Peter Lloyd have done the same for economics, demonstrating that figures and diagrams are the DNA building blocks of the discipline. This book has them all: backward-bending labor supply, cobweb diagram, circular flow, production possibility frontier, Stolper-Samuelson box, IS/LM, the Phillips curve and many more. Each is portrayed, its importance explained, its origin revealed, and the reader often encounters Stigler's Law of Eponymy (No scientific discovery is named after its original discoverer).' - Kenneth G. Elzinga, University of Virginia `Both students and professors will welcome this original and unique collection. Analytically tighter and more complete expositions than much existing literature should be very welcome in graduate theory courses. Authors of history of economic thought texts will have to clarify and correct the historical record regarding who said what and when, and both reconfigure the assignment of credit and question use of the term "precursor": early users did more than hint at the full development; often creating tools.' - Warren Samuels, Michigan State University This is a unique account of the role played by 58 figures and diagrams commonly used in economic theory. These cover a large part of mainstream economic analysis, both microeconomics and macroeconomics and also general equilibrium theory. The authoritative contributors have produced a well-considered and definitive selection including some from empirical research such as the Phillips curve, the Kuznets curve and the Lorenz curve. Almost all of them are still found in contemporary textbooks and research. Each entry presents an accurate and concise record of the history of the figure or diagram, including later developments and any controversy that arose in its development. As a whole, the book highlights how the use of geometric methods has played a central part in the development of economic theory and analysis; as a method of discovery, more commonly as a method of exposition and occasionally as a method of proof of propositions in economic theory and analysis. This highly anticipated book will appeal to theorists in microeconomics or macroeconomics, scholars of economic theory and analysis, as well as students in microeconomics, general equilibrium theory or macroeconomics at the advanced undergraduate or graduate level who want a definitive account of some figure or diagram. Historians of economic thought and methodologists will also find this book an invaluable resource. Contributors: S. Ashok, R.E. Backhouse, W.J. Baumol, M. Blaug, R. Boyer, L. Cameron, J.S. Chipman, A.J. Cohen, J.S. Cramer, J. Creedy, A.V. Deardorff, R.W. Dimand, A. Dixit, R. Dixon, B.C. Eaton, J. Eichberger, N. Erkal, R. Fare, L. Gangadharan, N. Giocoli, Y. Giraud, S. Grosskopf, H. Haller, D.W. Hands, G.C. Harcourt, T.M. Humphrey, R.W. Jones, N. Kakwani, M. Kemp, J.E. King, A.O. Krueger, D. Laidler, C. Lee, R.G. Lipsey, P. Lloyd, F. Maclachlan, R. Middleton, M. Nerlove, Y.-K. Ng, A. Panagariya, P. Rodenburg, R. Rothschild, M. Schneider, H.-l. Shi, A. Skinner, B.J. Spencer, H. Thompson, J. Whalley, R. Williams, W.C. Woo, A.D. Woodland, W. Young

A collection of papers in English by one of the foremost historians of the social and economic structure of medieval rural communities, who here examines local societies in rural northern Spain and Portugal in the early middle ages. Principal themes are scribal practice and the analysis of charter texts; gift, sale and wealth; justice and judicial procedures. Always with a concern for personal relationships and interactions, for mobility, for decision-making and for practice, a sense of land and landscape runs throughout. The Spanish and Portuguese experience has seemed irrelevant to the great debates of early medieval European history that occupy historians. But Spain and Portugal shared the late Roman heritage which influenced much of western Europe in the early middle ages, and by the tenth century records and practice in Christian Iberia still shared features with the Carolingian world. This book offers a substantial corpus of Iberian evidence to set beside Frankish, Italian, English and Scandinavian material and thereby makes it possible for northern Iberia to play a part in these great debates of medieval European history. (CS1084).

Chicago went from nothing in 1830 to become the second-largest city in the nation in 1900, while the Midwest developed to become one of the world's foremost urban areas. This book is an economic history of the Chicago metropolitan area from the 1820s to the present. It examines the city in its Midwestern region and compares it to the other major cities of the North. This book uses theories of the economics of location and other economic models to explain much of Chicago's history. Chicago maintained its status as the second-largest city through the first decades of the 20th century, but rapid growth shifted to the Sunbelt following World War II. Since the 1950s the city's history can be divided into four distinct periods; growth with suburbanization (1950-1970), absence of growth, continued suburbanization, and central city crisis (1970-1990), rebound in the 1990s, and financial crisis and deep recession after 2000. Through it all Chicago has maintained its position as the economic capital of the Midwest. The book is a synthesis of available literature and public data, and stands as an example of using economics to understand much of the history of Chicago. This book is intended for the college classroom, urban scholars, and for those interested in the history of one of world's foremost urban areas.

Luigi Einaudi (1874-1961) was a leading liberal economist, economic historian and political figure. This book provides the English-speaking world with a first critical edition of Einaudi's - hitherto unpublished - rewriting of one of his most unique and thoughtful essays. The relevance of this essay is crucial from several perspectives: history and methodology of economic thought, role of economics and its relation to other disciplines and to social values, role of economists in the public sphere, while also encompassing the discourse on man and the economist as a "whole man". The critical edition of On Abstract and Historical Hypotheses and on Value Judgments in Economic Sciences includes a comprehensive introduction and afterword. An extensive reappraisal of this newly discovered essay will help to cast light on Einaudi's uniqueness and originality within and beyond the Italian tradition in public finance, thereby also illuminating his attempt to provide an epistemological account of his long lasting enquiry into the causes of good and bad polities. This book is of great interest to those who study economic theory and philosophy, as well as history of economic thought, public economics and legal and political philosophy.

Cameralism and the Enlightenment reassesses the relationship between two key phenomena of European history often disconnected from each other. It builds on recent insights from global history, transnational history and Enlightenment studies to reflect on the dynamic interactions of cameralism, an early modern set of practices and discourses of statecraft prominent in central Europe, with the broader political, intellectual and cultural developments of the Enlightenment world. Through contributions from prominent scholars across the field of Enlightenment studies, the volume analyzes eighteenth-century cameralist authors' engagements with commerce, colonialism and natural law. Challenging the caricature of cameralism as a German, land-locked version of mercantilism, the volume reframes its importance for scholars of the Enlightenment broadly conceived. This volume goes beyond the typical focus on Britain and France in studies of political economy, widening perspectives about the dissemination of ideas of governance, happiness and reform to focus on multidirectional exchanges across continental Europe and beyond during the eighteenth century. Emphasizing the practice of theory, it proposes the study of the porosity of ideas in their exchange, transmission and mediation between spaces and discourses as a key dimension of cultural and intellectual history.

Modern advertising was created in the US between 1870 and 1920 when advertisers and the increasingly specialized advertising industry that served them crafted means of reliable access to and knowledge of audiences. This highly original and accessible book re-centers the story of the invention of modern advertising on the question of how access to audiences was streamlined and standardized. Drawing from late-nineteenth and early-twentieth-century materials, especially from the advertising industry's professional journals and the business press, chapters on the development of print media, billboard, and direct mail advertising illustrate the struggles amongst advertisers, intermediaries, audience-sellers, and often-resistant audiences themselves. Over time, the maturing advertising industry transformed the haphazard business of getting advertisements before the eyes of the public into a market in which audience attention could be traded as a commodity. This book applies economic theory with historical narrative to explain market participants' ongoing quests to expand the reach of the market and to increase the efficiency of attention harvesting operations. It will be of interest to scholars of contemporary American advertising, the history of advertising more generally, and also of economic history and theory.

The failure to include gender in the economic history of rural development has severely limited our understanding of privatizing, collectivist and colonial economic policies that disrupted and transformed the lives of rural women and men in the modern world. This book is unique in its focus on female economic agency, and in its exploration of the latter virtue in comparative historical perspective. It presents the apparently disparate cases of 17th-century England, 20th-century Russia and the Soviet Union, and 20th-century Kenya, as their top-down modernization projects were implemented in similar fashion --particularly in the case of women. The female half of the population was largely absent from contemporary economic databases, but nevertheless stereotyped as obstacles to rational economic decision-making. Introducing rural women and their innovations into male-centered narratives of economic history lays the foundation for a more demographically balanced and realistic understanding of rural behavior and rural development. In this study, women's labor and land claims are the lens through which both female agency and the delegitimizing of women's land claims become more visible. Both policy-makers and their leading critics deployed virtually identical language to describe backward, unruly and invariably "unsightly" peasant women.

Gianni Vaggi and Peter Groenewegen present a brief history of economic thought over three centuries. They sketch the history form the seventeenth century to the present day. Each chapter examines the key contributions of a major economist, or group of economists, and concludes with brief suggestions for further reading. The economists covered include Keynes, Marshall, Petty and Jevons, as well as less familiar theorists such as Galiani and Turgot.

Frank David Ascoli's Revenue History of Sundarbans during the Period 1870- 1920 looks at the area bounded on the north by the limits of Permanent Settlement in 24-Parganas, Khulna and Bakarganj districts and on the south by the sea face stretching from the Hughli estuary to the mouth of the Meghna River. A quarter of this large area consisted of water out of 19,501 sq. km. For administrative purposes the Division was grouped in three circles known as the Bagerhat, Khulna and Satkhira. Revenue stations were established at all the principal points of egress from the Sundarbans, and purchasers proceed to the forests and take their requirements from any locality they choose. The process of land formation appears to have been followed by the growth of different vegetation and plants which turned into forest it left uncleared. The entire Sundarban tract is managed by the Forest Department, which has operated a yearly auction for cutting rights for many decades. In this way the Sundarbans emerged between the Bay of Bengal and the fringes of the Bengal delta. The revenue history of the Sundarbans is distinct from that of the rest of the district that presents several peculiar features, so that a separate account of it is necessary. It is apparent that some of the most forbidding remnants of Sundarbans jungle were transformed into fertile rice fields, schools, dispensaries, post offices, markets and cooperative societies. Please note: Taylor & Francis does not sell or distribute the Hardback in India, Pakistan, Nepal, Bhutan, Bangladesh and Sri Lanka

A clear and readable account of the development of the European economy and its infrastructure from the second century to 1500. Professor Pounds provides a balanced view of the many controversies within the subject, and he has a particular gift for bringing a human dimension to its technicalities. He deals with continental Europe as a whole, including an unusually rich treatment of Eastern Europe. For this welcome new edition -- the first in twenty years -- text and bibliography have been reworked and updated throughout, and the book redesigned and reset.

This title was first published in 2001. Looking at German-American relations between 1776 and 1835, this study argues that it was day-to-day commercial contacts, rather than official diplomatic ties that forged the way in establishing good relations between the two countries. Although concerned with trade, this work is not strictly one of economic history, but instead looks at how wider economic trends impacted upon the socio-cultural and political connections.

James Steuart published An Inquiry into the Principles of Political OEconomy in 1767, the first systematic treatise on economics, nine years before Adam Smith's Wealth of Nations. Traditional historiography has tended to disregard and even deny Steuart's oeuvre, categorizing him as the last, outdated advocate of mercantilist policies in Britain. A clear portrait of a modernizing and enlightened Steuart emerges from this book, opening up an alternative approach to many key developments in economic theory. This book brings together a diverse international team of experts to overturn the "advocate of mercantilism" myth and explore different interpretations of Steuart's work within the context of the writings of other contemporary authors. A diverse range of specialists - historians, economists, political scientist, and sociologists - reflecting the diversity of James Steuart's work explore various aspects of the life, works, and influence of James Steuart, including his links to other authors who conceive - as Steuart did - the economic system of "natural liberty" as an artificial creation. The portrait of a demarginalized, modernizing, and enlightened Steuart emerges clearly in this book. This book is not reduced to old authors whose ideas would be at the Museum of Dead Ideas, it has a very contemporary resonance. The subjects and the way Steuart tackles them could have a big influence on future authors who recognized some advantages of an alternative approach to many key developments in economic theory. This will also be of interest to scholars of history of economic thought, intellectual history, and 18th century history.

This title was first published in 2003. The cotton industry was one of the major motors that powered Britain's industrial development from the mid-eighteenth century, contributing in no small way to the revolution that was to transform Europe over the next hundred years. The combination of technological developments, colonial exploits and social transformation that all came together in the Lancashire cotton industry provided a perfect example of how the new world would function, its priorities and its ambitions. Into this fast moving and fluid situation, were thrust the men, women and children who formed the vast pool of labour necessary to keep the spindles and looms running. It is their experiences above all, that illuminates the history of the cotton industry, and how it came to change the face of Britain through the nineteenth and early twentieth centuries. In this study, Alan Fowler takes an in-depth look at the Lancashire cotton industry through the prism of its workers, their families and organisations. He argues that by 1850 the triumph of the factory system was complete, and the factory operative a mainstay of a transformed society based on a new economic order. With this increasingly important role in the new economy came opportunities, which cotton workers were not slow to grasp. Crucial to the history of the Lancashire cotton operatives were the collective organisations they established which forced employers and government to treat with them. By the beginning of the twentieth century these organisations had managed to raise wages, improve working conditions, reduce working hours, establish the right to holidays, and force the introduction of factory legislation. This book explores how these victories were won and the impact they had on the industry and wider society.

This book argues that capitalism cannot be said to be truly democratic and that a system of producer cooperatives, or democratically managed enterprises, is needed to give rise to a new mode of production that is genuinely socialist and fully consistent with the ultimate rationale underlying Marx's theoretical approach. The proposition that firms should be run by the workers on their own was endorsed by John Dewey, the greatest social thinker of the twentieth century, but is also shared by Marxists such as Anton Pannekoek, Karl Korsch, Angelo Tasca, Antonio Gramsci and Richard Wolff. This book explores the history of this argument, taking into account concepts from economic and political thought including historical materialism, cooperation, utopianism and economic democracy. The book will be of significant interest to scholars and students of political economy, Marxism, socialism, history of economic thought and political theory.

Thorstein Veblen and Hyman Minsky are seminal thinkers who place great importance on the interaction between processes that link finance and financial markets with economic and social evolution. This book makes a contribution to the recontextualisation of the habitual, non-evolutionary and laissez-faire macroeconomic theory and policy, thus exposing the relevant contribution of the macro-theories of Veblen and Minsky. The book starts with an elucidation of Veblen's cultural theory of insufficient private demand, waste and financial fragility and instability. It shows how speculative and parasitic leverage engenders solvency illusions and risk, pecuniary efficiency, low quality liability structures and socially destructive boom-bust cycles. Minsky's creative destruction liquidity processes and coordination failures of cash flow escalate the aforementioned path-dependent developments and explosive dynamics of capitalist economies. The main themes of the book are the cultural, evolutionary and holistic vision of macroeconomics, the evolving habits of mind, routines and financial institutions, the speculative, manipulated and unstable financial markets, as well as the financial macroeconomic destabilizing effects of pecuniary and parasitic consumption and investment. This book will be of great interest to researchers, intellectuals and students pursuing economics and finance.

Faced with a new crisis of capitalism, many scholars are now looking back to the author whose ideas were too hastily dismissed after the fall of the Berlin Wall. During the last decade, Marx's Capital has received renewed academic and popular attention. It has been reprinted in new editions throughout the world and the contemporary relevance of its pages is being discussed again. Today, Marx's analyses are arguably resonating even more strongly than they did in his own time and Capital continues to provide an effective framework to understand the nature of capitalism and its transformations. This volume includes the proceedings of the biggest international conference held in the world to celebrate the 150th anniversary of Capital's publication. The book is divided into three parts: I) "Capitalism, Past and Present"; II) "Extending the Critique of Capital"; III) "The Politics of Capital". It contains the contributions of globally renowned scholars from 13 countries and multiple academic disciplines who offer diverse perspectives, and critical insights into the principal contradictions of contemporary capitalism while pointing to alternative economic and social models. Together, they reconsider the most influential historical debates on Capital and provide new interpretations of Marx's magnum opus in light of themes rarely associated with Capital, such as gender, ecology, and non-European societies. The book is an indispensable source for academic communities who are increasingly interested in rediscovering Marx beyond 20th century Marxism. Moreover, it will be of great appeal to students, as well as established scholars interested in critique of capitalism and socialist theory.

This volume takes a broad perspective on the recent debate on the role of German ordoliberalism in shaping European economic policy before and after the eurozone crisis. It shows how ordoliberal scholars explain the institutional origins of the eurozone crisis, and presents creative policy proposals for the future of the European economy. Ordoliberal discourse both attempts to offer political solutions to socioeconomic challenges, and to find an ideal market order that fosters individual freedom and social cohesion. This tension between realpolitik and economic utopia reflects the wider debate on how far economic theory shapes, and is shaped by, historical contingencies and institutions. The volume will be of interest to policymakers as well as research scholars, and graduate students from various disciplines ranging from economics to political science, history, and philosophy.

Food crises have always tested societies. This volume discusses societal resilience to food crises, examining the responses and strategies at the societal level that effectively helped individuals and groups to cope with drops in food supply, in various parts of the world over the past two millennia. Societal responses can be coordinated by the state, the market, or civil society. Here it is shown that it was often a combined effort, but that there were significant variations between regions and periods. The long-term, comparative perspective of the volume brings out these variations, explains them, and discusses their effects on societal resilience. This book will be of interest to advanced students and researchers across economic history, institutional economics, social history and development studies.