Capitalism has been a controversial concept. In the second half of the 20th century, many historians have either not used the concept at all, or only in passing. Many regarded the term as too broad, holistic and vague or too value-loaded, ideological and polemic. This volume brings together leading scholars to explore why the term has recently experienced a comeback and assess how useful the term can be in application to social and economic history. The contributors discuss whether and how the history of capitalism enables us to ask new questions, further explore unexhausted sources and discover new connections between previously unrelated phenomena. The chapters address case studies drawn from around the world, giving attention to Europe, Africa and beyond. This is a timely reassessment of a crucial concept, which will be of great interest to scholars and students of economic history.

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

This book is about national economic policy responses to the Great Depression of the interwar period. Taking off from a generally liberal starting point in the 1920s, states diverged greatly in their responses. Some were daring while others remained conservative. The two groups further differed among themselves in both degree and kind. The book gives a certain shape to this messy reality by identifying broad policy patterns (paradigms), and offers an explanation of it which emphasizes the ideational disposition of policy actors while recognizing the context that limits what they can do. More specifically, it argues that the ideas held by rulers and the strategies they consequently developed regarding three major groups of interest - business, labour, and, most critically, agrarians - largely determined economic policy variation across nations.

This book probes the materiality of Improvement in early 19th century rural Massachusetts. Improvement was a metaphor for human intervention in the dramatic changes taking place to the English speaking world in the 18th and 19th centuries as part of a transition to industrial capitalism. The meaning of Improvement vacillated between ideas of economic profit and human betterment, but in practice, Improvement relied on a broad assemblage of material things and spaces for coherence and enaction. Utilizing archaeological data from the home of a wealthy farmer in rural Western Massachusetts, as well as an analysis of early Republican agricultural publications, this book shows how Improvement's twin meanings of profit and betterment unfolded unevenly across early 19th century New England. The Improvement movement in Massachusetts emerged at a time of great social instability, and served to ameliorate growing tensions between urban and rural socioeconomic life through a rationalization of space. Alongside this rationalization, Improvement also served to reshape rural landscapes in keeping with the social and economic processes of a modernizing global capitalism. But the contradictions inherent in such processes spurred and buttressed wealth inequality, ecological distress, and social dislocation.

In this book, Martin Bunton focuses on the way in which the Palestine Mandate was part of a broader British imperial administration - a fact often masked by Jewish immigration and land purchase in Palestine. His meticulous research reveals clear links to colonial practice in India, Sudan, and Cyprus amongst other places. He argues that land officials' views on sound land management were derived from their own experiences of rural England, and that this was far more influential on the shaping of land policies than the promise of a Jewish National Home.
Bunton reveals how the British were intent on preserving the status quo of Ottoman land law, which (when few Britons could read Ottoman or were well grounded in its legal codes) led to a series of translations, interpretations, and hence new applications of land law. The sense of importance the British attributed to their work surveying and registering properties and transactions, is captured in the efforts of British officials to microfilm all of their records at the height of the Second World War. Despite this however, land policies remained in flux.

This book chronicles the way Keynes's generous philosophy of practice evolved in consonance with the needs of his epoch. From a youngster reflecting on ethics and the classics, to becoming a leading voice in both wars in terms of political philosophy and international relations, to playing the role of innovator in both probability and economics, to taking a stance as an art appreciator, Keynes's life and multidisciplinary contributions to humankind were permeated by his philosophical milieu. However, only a flexible, dynamic, and broad philosophy could have reflected and led the economic and political events in the world of the first part of the 20th Century, which is what Keynes managed to accomplish, and that is what the book suggests. This book captures the gist of Keynes' evolutionary philosophy for our times. The book adds an evolutionary perspective to the existing literature on Keynes. As a case in point, the theoretical foundations of both macroeconomics and laissez faire are dissected. But the book also tells the story of how Keynes's philosophy is adapted to a convulsed world, which is akin to ours, his legacy being gifted with multiple human considerations. The book offers an outline of Keynes's philosophical stance-also compared with those of other European thinkers-at a moment when new ethical, epistemological, economic, and political perspectives are required, especially after the crisis of 2020. The conclusion is that Keyness theoretical and practical insights were far ahead of his time.

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

Written by fifteen leading academics from the Japan Society for International Development (JASID), this book undertakes a review of Japan's economic development over the last 150 years, and seeks to clarify Japanese priorities in domestic and foreign policy for the coming decades.

This book examines the Irish experience of the 1918-19 influenza pandemic through a detailed study of the disease in the most industrialised region of the country, the province of Ulster. By exploring the different themes of dispersion of the disease; mortality; gender; medical response and politics - and through case studies of different towns in the province of Ulster - it builds up a picture of the social, economic and political impact of influenza in Ireland. The Ulster experience of the pandemic is examined by constructing micro-histories of industrial cities and towns, along with provincial market towns and a naval port, to provide a basis for comparison of the differing approaches taken to combat the influenza outbreaks throughout Ulster. Contemporary opinion was that Ireland was considerably less affected by the war than the rest of the UK but, this book shows that the war did have a significant influence on how the influenza pandemic impacted on the Irish population from an economic, social and medical point of view. The book also explores the immediate aftermath of the pandemic and how it influenced the Irish response to the influenza scare of 1920 and the viral pandemic of Encephalitis Lethargica which was prevalent for ten years after 1918, as well as discussing what if any lessons learnt from 1918 have been applied to the present-day outbreak of Covid 19. This book will be of interest to academics in economic history, social history, Irish history and pandemic history, and those studying the effects of pandemics on the economy, health provision and pandemic preparedness.

Originally published in 1967, this was the first book to discuss why agricultural supply became more ‘responsive’ and to provide broadly based evidence of the ways in which that ‘responsiveness’ may have influenced the growth of the economy. The editor chose 7 essays, reprinted in full, to illustrate altered perspectives of agricultural change. His substantial introduction places the beginnings of a significant rise in farm output as far back as the mid-seventeenth century and concludes that agriculture played a vital but complicated role in the economy of eighteenth-century England.

When the British took control of the Indian Ocean island of Mauritius soon after the abolition of the slave trade, they were faced with a labour-hungry and potentially hostile Franco-Mauritian plantocracy. This book explores the context in which Indian convicts were transported to the island and put to work building the infrastructure necessary to fuel the expansion of the sugar industry. Drawing on hitherto unexplored archival material, it is shown how convicts experienced transportation and integrated into the Mauritian social and economic fabric.

This book examines financial markets from a historical perspective. Bringing together contributions from leading historians of economic thought, economists and economic historians, it offers an integrated approach and reflects on the workings of financial markets, their impact on and relation with the rest of the economy and how their role was and is understood by economics. The contributions cover topics such as classical and modern economic thinking on financial markets and institutions, as well as financial models and innovations, and also present case studies on financial history and on policy issues. The historical perspective leads to a representation of markets not as abstract and timeless mechanisms but as institutions populated by a diversity of agents, subject to rules and customs, and influenced by scientific developments and economic theories.

There is a standard belief that the modern theory of marginal utility originated in the UK with Jevons, Germany with Gossen, Austria with Menger and France with Walras. In this new book, John Chipman introduces new English translations of important writings from German economists such as Rau, Hildebrand, Roscher and Knies showing that the introduction of this concept originated with them. This ground breaking book comes with a long introduction from John Chipman analysing the theory.

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This book examines the work of Milton Friedman, which is amongst the most significant in modern economics and, equally, amongst the most contentious. Although Friedman became most famous for his views on money and monetary policy as well as his public writings, a large and important part of his work concerned other aspects of economics. All parts of Friedman's work are considered here, as is his account of his own life. By focussing on what Friedman wrote rather than what later authors have written about him, this volume seeks to analyse the character, qualities and development of the arguments he made. This text is important for anyone interested in this both celebrated and reviled figure in economics. James Forder clarifies messages in Friedman's writing that have otherwise so often been obscured by academic and public controversy.

George Rublee (1868-1957), was an eastern establishment lawyer and corporate liberal who made a significant contribution to economic reform legislation on the state and national levels during the progressive era. He was also involved in a number of important international events from 1917 to 1939. Despite his achievements, he has been largely overlooked. In this first biography of Rublee, McClure contends that any understanding of the history of the Federal Trade Commission and of U.S. foreign relations in World War I and the interwar period is incomplete without an understanding of Rublee's experiences. Rublee's influence on domestic policy includes his role as advisor to New Hampshire governor Robert Bass, his influence in the development of Theodore Roosevelt's 1912 New Nationalism platform, and his conversion of Woodrow Wilson to a Bull Moose approach to antitrust with the creation of the FTC in 1914. His contribution to international relations ranges from his participation on the almost forgotten Allied Maritime Transport Council; to his success in bringing the US into a consultative pact with Great Britain and France at the 1930 London Naval Conference, to his courageous role as director of the controversial Intergovernmental Committee, created at the 1938 Evian Conference to deal with the German Jewish refugee crisis.

This book traces the emergence of the European Free Trade Association (EFTA) from 1955 to 1963 amid the broader reshaping of the institutional architecture of post-war Europe. It considers the ill-fated Free Trade Area (FTA) proposal, the subsequent creation of EFTA, and the resulting division of Western Europe into two distinct trading blocs. At its core, the book provides an international history of a formative moment of post-war and European integration history, and explores the intense technical discussions among European states as they grappled with the prospect of deeper economic and political unity. It thus provides the first detailed analysis combining the FTA and EFTA negotiations, considering both state and non-state actors. Drawing on archives from Britain, Denmark, France, Germany, Ireland, Norway, the Netherlands, Sweden, Switzerland, and the US, as well as the records of the OEEC and EFTA, it examines the decision-making processes of those intimately involved as well as the institutional settings within which they were forced to reconcile their positions. At a key moment of contemporary European friction, the book offers a dialogue between the past and those trying to make sense of events that continue to shape Europe today.

Medium-Sized cities in the Age of Globalisation provides a brand-new perspective on academic discussions of globalisation through exploring urban development outside of select global cities including Paris, Tokyo, and London, and instead focuses on medium-sized cities in the context of a globalising world. Combining the author’s expertise with extensive research, this book fills a gap in the scholarly debate on globalisation and urban development, with chapters of the book giving detailed insight on urban governance and economy, local identity, and urban representation. Through a range of visual sources including maps, tables, and graphs, the book is applicable and accessible, and offers a specialised analysis of medium-sized cities through assessing urban regeneration policies as well as promotional activities and their role in promoting positive change in an era of great inter-urban competition. This book contains valuable historical insights and is excellent specialised material for scholars and postgraduate students in the disciplines of Urban History, Urban Studies, and Geography, as well as being a significant source for Professionals working in urban planning and place promotion

An investigation into farming practices throughout a period of seismic change. WINNER of the British Agricultural History Society's 2022 Thirsk Prize "This meticulously researched book gives a detailed and authoritative history of agricultural change in the second half of the twentieth century. The book skilfully weaves together the hitherto underexplored individual returns of the Farm Management Survey with oral histories of the farmers who enacted change on the ground to offer an incisive account of the complex technological, political and cultural developments which gave rise to some of the greatest changes in English farming history. It will stand as the key reference point for those with an interest in the history of agricultural change in Britain." Professor Mark Riley, University of Liverpool At the outbreak of the Second World War in 1939 British agriculture was largely powered by the muscles of men, women, and horses, and used mostly nineteenth-century technology to produce less than half of the country's temperate food. By 1985, less land and far fewer people were involved in farming, the power sources and technologies had been completely transformed, and the output of the country's agriculture had more than doubled. This is the story of the national farm, reflecting the efforts and experiences of 200,000 or so farmers and their families, together with the people they employed. But it is not the story of any individual one of them. We know too little about change at the individual farm level, although what happened varied considerably between farms and between different technologies. Based on an improbably-surviving archive of Farm Management Survey accounts, supported by oral histories from some of the farmers involved, this book explores the links between the production of new technologies, their transmission through knowledge networks, and their reception on individual farms. It contests the idea that rapid adoption of technology was inevitable, and reveals the unevenness, variability and complexity that lay beneath the smooth surface of the official statistics.

This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory. This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.

When the Act of Union was passed in 1707, Scottish parliament was dissolved and the nation's capital became London. While the general public balked at the perceived unfairness of the treaty, the majority of Scottish ministers seemed satisfied with its terms. This book offers an explanation of how that outcome came about. By examining the influence of a particular strain of mercantilist thought, Ramos demonstrates how the negotiations preceding the passage of the Act of Union were shaped by ideas of value, wealth, trade and power, and, accordingly, how the model of positive balance was used to justify the necessity of the Act. Utilizing contemporary evidence from the English and Scottish ministers involved, this book explores alternative arguments regarding the Union, from before 1707 and in early Scottish political economy, thus highlighting the differing economic and political views that have persisted between England and Scotland for centuries. With twenty-first century discontent leading to the Scottish independence referendum and arguments that persist in the wake of the Brexit decision, Ramos produces timely research that investigates ideas of protectionism that feed into mercantilist economic thought.

This edited volume presents the key unresolved debates in monetary macroeconomics, covering the five topics of budget, trade, taxes, exchange rates and monetary policy. For each topic, there are two authors - one arguing for a certain policy and one against. The book takes an approach eschewing mathematics or econometrics, instead presenting arguments in the spirit of political economy - while incorporating the most recent thinking in macroeconomics. This approach, combined with the objective of encouraging debate, makes the book ideal reading for students of monetary macroeconomics, researchers seeking alternative views, and the general public.

The frequency and repetition of economic crises over the last hundred years demands an analysis that allows us to discover the root causes of these situations and the problems they have generated in the world economy. This book investigates these cycles throughout the 20th and the early 21st century. Economic crises can be the result of political or military conflict, but they have also been the consequence of bad practices, unbridled speculation, excessive greed or poor management by the rulers and leaders of nations. The contributors to this volume analyse the causes and consequences of economic crises from the Great Depression to the present day, incorporating post-World War II reconstruction, the oil crisis of the 1970s and the "lost" Latin American decade of the 1980s, among others. This longer-term view allows the book to provide insights into understanding economic cycles in the long run, not just at a specific moment in time, and the ways in which they have spread internationally. This historical analysis also helps to shed new light on the current covid-impacted situation, as it provides another reading of the main crises of recent centuries and their causes and consequences, as well as the measures and policies adopted to overcome the difficulties. This book will be of significant interest to readers in economic history, business history, politics, and economics and history more broadly.

The period from 1957-1988 was transformative for the international oil industry. As the home to two major oil companies, BP and Shell, as well as the possessor of large quantities of oil and gas in its territorial waters, the United Kingdom was at the heart of this transition. While famous for its liberal policy towards oil and gas production, both before and after the discovery of North Sea oil and gas, this period actually saw the United Kingdom respond to shifts in power from the major oil companies to the oil-producing states, many of them in OPEC, by building up its competency regarding oil matters. This took the form of efforts to influence the activities of BP and Shell abroad as well as in creation of a state-run oil company, the British National Oil Corporation, in an attempt to exercise greater state control over oil and gas production and distribution. The failure of these efforts was driven in part by internal divisions within Whitehall, the efforts of the oil companies themselves, and ultimately the political will of the Conservative Party under Margaret Thatcher to get the state out of the business of oil and gas.