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

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.

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.

This book provides a comprehensive overview and some economic analysis of China's economic reform experiences, particularly those since the late 1980s. It covers many institutional details of key aspects of the Chinese economy, including fiscal and monetary management, financial sector development, state-enterprise reform, international trade, foreign investment, decentralization and regional development. It is argued that while China has achieved a spectacular growth record over the past twenty years, and its reform efforts have successfully laid the foundation of a market-based economic management system, the country continues to face major challenges in sustaining its growth performance.

In addition to winning the 2009 Nobel Prize in Economic Sciences for her path-breaking research on "economic governance, especially the commons," Elinor (Lin) Ostrom also made important contributions to other fields of political economy and public policy. This four-volume compendium of papers written by Lin (often with coauthors, most notably her husband, Vincent), along with papers by others expanding on her work, brings together the strands of her entire empirical, analytical, theoretical, and methodological research program. Together with Vincent's important theoretical contributions, they defined a distinctive "Bloomington School" of political-economic thought. Volume 3 explores the historical development of the Institutional Analysis and Development (IAD) framework, illustrates its application to a wide range of specific policy problems, and highlights recent extensions that ensure it will remain a vibrant focus of research for years to come. The IAD framework emerged from a long series of interdisciplinary collaborative research projects, but the guiding figure in its development was Elinor Ostrom. Anyone familiar with the full range of her research will recognize common presuppositions and themes for which she used the IAD framework as an organizing device. This book collects examples of policy-relevant applications of IAD to a wide range of policy sectors. In a fundamental sense, the IAD framework helps us understand how Ostrom's mind worked when she approached a particular problem of policy, and it highlights those factors that she asserted needed to be considered in any complete analysis. Unfortunately, she did not leave us a complete or definitive guidebook on how to apply this framework. This volume collects important components of such a guidebook from a wide range of sources, including previously unpublished papers, and as such it should help anyone seeking to use this framework to analyze a variety of policy areas.

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.

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.

Farming to halves is the English version of sharefarming, a system of letting land common in Europe and the New World, but thought not to have existed in England. Indeed Arthur Young claimed it was the point of difference between English and French agriculture, which explained the success of the former and failure of the latter. However, Young was mistaken: forms of sharefarming existed in all periods, at every level of society and across the length and breadth of the country. This discovery entirely alters our perceptions of English rural communities, the development of English agriculture and the relationships between landlords and tenants, and farmers in general. Sharefarming English style differed from that in Europe because it remained largely informal and rarely appears in documents. Even when it does appear, historians, misled by Arthur Young perhaps, have failed to recognize its significance. In this way, a stratum of farming life and activity has been lost. This book recovers that hidden historywith far reaching and unexpected implications for our understanding of English rural life both in the past and present.

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 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

In the story of the The Golden Republic, Bulpin sets a stage on which we meet some of the strangest characters that fate had ever attached to the puppet strings of destiny. The grim Mzilikazi; the hot-headed Hendrik Potgieter and his trekkers; prospectors like Charlie the Reefer; gaudy rogues like Gunn of Gunn and his Highlanders; bandits, highwaymen, rand lords, gold rushers, to name just a few. He tells of leaders like Pretorius and Kruger, and many others who each played a part in establishing the Republic of the Transvaal – a seemingly impossible task considering all the small wars and skirmishes on the veld and the rumble of arguments rising out of each farmhouse. In his remarkably engaging style of writing he sketches scenes of rough but beautiful land, which must have been fascinating to explorers who roamed about the old Transvaal with all its scenic novelties where every turn yielded some marvel for the geologist, the botanist, or the zoologist. The Golden Republic tells of the adventure that raised the Republic to its peak and the complex intrigues that brought it down to the dust; of misfortune and riches, and despair of such magnitude that the birth of a Republic seemed inevitable considering the economic disaster it at times experienced … Until gold poked out its shiny head and gave hope again. The characters who crowded into diggers’ towns were some of the wildest and most colourful ever known in the Transvaal. From all over South Africa they flocked to the scene, in the hope of finding fortune. Most of them were just opportunists, who knew nothing about gold except how to spend it. This is a brilliant book of the birth, life and death of the old Republic written in the tell-tale style Bulpin does so well.

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.

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 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.

'A masterpiece of succinct analysis.'New Statesman 'Penetrating in analysis and closely packed in thought.'Financial Times Analysing and examining the history of the economic events of the inter-war years, this book gives the reader both a sense of perspective of the larger scene of events on an international scale, whilst introducing facts and theories. National policies of the UK, France, Germany, the USA, Japan and the former Soviet Union are discussed as are developments in international trade.

The Economics of Inflation provides a comprehensive analysis of economic conditions in Germany under the Great Inflation and discusses inflationary conditions in general. The analysis is supported by extensive statistical material.

* For this translation the author thoroughly revised the original work
* Includes an appendix on German economic conditions in the years following the monetary reform, 1923-24

Presenting a coherent interpretation of the development of economic and social policy in Britain since 1945, this text analyses the political assumptions underlying post-war economic policy. It traces these assumptions through the classic texts of Keynes and Beveridge, the architects of limited, non-socialist state intervention to secure the welfare state and full employment. The topics covered include private saving versus company pensions, and the level and composition of employment in Britain.

Husband and wife, Frank Gilbreth (1868-1924) and Lilian Gilbreth (1878-1972), are the figures most closely identified with time and motion studies. Pushing F.W. Taylor's ideas to the limit, they sought ways to determine 'the one best way to do work'. Their lasting influence is evident in the fact that the process charts and other techniques they devised remain essentially unchanged in modern systems analysis. Along with this, they were also interested in the human aspect of work, emphasizing the need for training and worker involvement.
The collection makes available, in one place, some of the most significant writings gathered from a variety of sources. The works are invaluable, not only for reference purposes, but as contributions to the history of management thought as well as the analysis of contemporary theory and the study of strategic management.

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.

John Mills provides a critical survey of the way economics has developed. He argues that the main goal of economics ought to be to show how to achieve a combination of economic growth, full employment, low inflation, avoidance of extreme poverty, and sustainability. That it has failed to do so is neither inevitable nor accidental. It has failed because of a combination of intellectual error and the effects of social and political pressure, which Mills claims could and should have been avoided.