India, Modernity and the Great Divergence is an original and pioneering book about India's transition towards modernity and the rise of the West. The work examines global entanglements alongside the internal dynamics of 17th to 19th century Mysore and Gujarat in comparison to other regions of Afro-Eurasia. It is an interdisciplinary survey that enriches our historical understanding of South Asia, ranging across the fascinating and intertwined worlds of modernizing rulers, wealthy merchants, curious scholars, utopian poets, industrious peasants and skilled artisans. Bringing together socio-economic and political structures, warfare, techno-scientific innovations, knowledge production and transfer of ideas, this book forces us to rethink the reasons behind the emergence of the modern world.

This book examines the U.S economy from 1967 to 2011 and utilizes a new method to predict the future of the economy as far ahead as 2030. This new method uses population subgroup data. Variables used in the cross-sectional matrix include ethnicity, sex, age, and average personal income of those having personal income. The mathematical basis, the data used, and the results are all presented in graphic form. The estimates are compared to National Bureau of Economic Research Dating Committee data. Projections using estimates from the U.S. Bureau of Census are used to further project personal income, personal income annual change, and disposable personal income to 2030. The book concludes that the New Energy Movement and their development of non-polluting energy and electricity production methods that do not consume uranium, radioactive material, or fossil fuels. Therefore, large amounts of money should be invested in these devices, their development, and implementation.

In Hinterlands and Commodities: Place, Space, Time and the Political Economic Development of Asia over the Long Eighteenth Century, well-known economic and social historians examine important questions concerning temporal and spatial relationships among central places, hinterlands, commodities, and political economic developments in Asia and the Global economy over the long eighteenth century. These timely essays engage hinterlands and commodities providing novel foci on historical impacts maritime trade on political economic developments involving place, space, and time in Asia, thereby furnishing historical background for current conditions. They contribute to discourse concerning historical interactions among indigenous Asian merchant activities and European commercial counterparts. Contributors are: George Bryan Souza, Dennis O. Flynn, Marie A. Lee, Ghulam A. Nadri, Bhaswati Bhattacharya, Tsukasa Mizushima, Tomotaka Kawamura, Atushi Ota, Ryuto Shimada, and Ei Murakami.

The Companion to the Hanseatic League discusses the importance of the Hanseatic League for the social and economic history of pre-modern northern Europe. Established already as early as the twelfth century, the towns that formed the Hanseatic League created an important network of commerce throughout the Baltic and North Sea area. From Russia in the east, to England and France in the west, the cities of the Hanseatic League created a vast northern maritime trade network. The aim of this volume is to present a "state" of the field English-language volume by some of the most respected Hanse scholars. Contributors are Mike Burkhardt, Ulf Christian Ewert, Rolf Hammel-Kiesow, Donald J. Harreld, Carsten Jahnke, Michael North, Jurgen Sarnowsky and Stephan Selzer.

Securing the World Economy explains how efforts to support global capitalism became a core objective of the League of Nations. Based on new research drawn together from archives on three continents, it explores how the world's first ever inter-governmental organization sought to understand and shape the powerful forces that influenced the global economy, and the prospects for peace. It traces how the League was drawn into economics and finance by the exigencies of the slump and hyperinflation after the First World War, when it provided essential financial support to Austria, Hungary, Greece, Bulgaria, and Estonia and, thereby, established the founding principles of financial intervention, international oversight, and the twentieth-century notion of international 'development'. But it is the impact of the Great Depression after 1929 that lies at the heart of this history. Patricia Clavin traces how the League of Nations sought to combat economic nationalism and promote economic and monetary co-operation in a variety of, sometimes contradictory, ways. Many of the economists, bureaucrats, and policy-advisors who worked for it played a seminal role in the history of international relations and social science, and their efforts did not end with the outbreak of the Second World War. In 1940 the League established an economic mission in the United States, where it contributed to the creation of organizations for the post-war world - the United Nations Organization, the IMF, the World Bank, the UN Food and Agriculture Organization - as well as to plans for European reconstruction and co-operation. It is a history that resonates deeply with challenges that face the Twenty-First Century world.

The global expansion of European colonization is commonly perceived as lawful according to the valid European colonial law of the time. This book is substantially challenging this belief by uncovering its legal justifications based on discovery and terra nullius as retrospectively created legal fictions and demonstrating its untenability in practice. Focused on the critical reconstruction of Spanish and Dutch colonization practices in northeastern South America, Trinidad and Tobago between 1498 and 1817, the book offers an illuminating view on the European shadow of the colonial past in the Americas. Based on the application of an innovative comparative spatio-legal Global History approach to 1,770 excavated European colonial written sources from archives of both sides of the Atlantic in comparison to the colonial legal provisions of Europes most influential legal writers, the book, moreover, provides a substantial argument to the contemporary Caribbean-European reparation debate in favor of the return of Indigenous Peoples historical territories. Therefore, the book calls for the extension of the traditional territory approach to reparations of the United Nations Declaration of the Rights of Indigenous Peoples (UNDRIPs) and the Inter-American Court of Human Rights (IACHR).

In this bold reevaluation of a decisive moment in American history, Michael Hiltzik dispels decades of accumulated myths and misconceptions about the New Deal to capture with clarity and immediacy its origins, its legacy, and its genius.

Austrian economics is known for extensive-and many economists would say excessive-ruminations on methodology. Attempting to steer a middle course between radical forms of historicism (there are no economic laws) and scientism (economic laws are as precise as physical laws), this approach often appears to diminish the importance of empirical testing and quantitative methods more generally. Since the Austrian revival of the 1970's, social scientists have developed a number of new theoretical and empirical approaches to studying the social world. Experimental and behavioral economics have exploded in popularity. Econometrics has arguably taken a more central role in the discipline than even formal economic theory. And, most prominently, econometricians have developed quasi-experimental techniques for examining real-world data as part of the "credibility revolution." This volume, Contemporary Methods and Austrian Economics, examines the relationship between Austrian economics and these new social scientific methods. Do Austrian critiques of the excessive ambitions of formal theory and empirical measurement still hold water (if they ever did)? Do the findings of these new approaches bolster or undermine distinctively Austrian theories? How should we update our views on the relationship between abstract economic theory and empirical investigations?

More than five years have passed since South Korea fell prey to the Asian financial crisis. Bringing together experts from Korea and a variety of other countries, this book aims to better understand the three stages of the Korean crisis: the onset, the policy reaction, and the economic response. Providing an integrated analysis of the event and its consequences, the chapters in the book consider the causes of the crisis, the response of the US government and International Monetary Fund, adjustments in the Korean monetary and fiscal policies, and the success of financial and corporate restructuring. The concluding chapters bring the story up to date, describing the aftermath of the crisis and assessing whether there has been sufficient reform to facilitate the country's recovery and growth. International and also Asian economists will find this a thoroughly accessible and illuminating book, as will specialists on Korea, political scientists and political economists.

Regulatory regimes appear wherever market economies exist and whenever there is competition for limited resources. However, the rationale of public regulation of markets, as well as the mechanisms that characterise regulatory regimes, is not well understood. The State, Regulation and the Economy illustrates how economic theory, whether positive or normative, is not convincing in explaining the complex interactions between the state and the market. Instead, the book examines regulation and state intervention from an institutional and historical perspective. Utilising empirical evidence from Scandinavia and the US, the authors argue that the form and content of state interventionism is strongly influenced by historical and path dependent factors, and go on to propose an approach which illuminates the role of specific historical events in forming regulatory policy. Various aspects of regulation are discussed with reference to infrastructure and network industries, one of the few areas in the economy where the role of the state has changed dramatically during the past two decades. The authors believe that the fast changing attitudes and policies towards regulation might be better understood by applying a longer time horizon combined with analysis based on new institutional economics. Scholars of economics, business administration, economic history and political science, as well as those wishing to gain a greater insight into the historical dimension of regulation, will find this an original and valuable book.

This comprehensive and far-reaching book describes the growth and economic integration of the European economy from 1500 to 1913. The authors apply macroeconomic techniques to identify growth rates, inflation, product markets, trade networks and business cycles across a set of countries over the period. The book demonstrates that growth was the natural state for European economies throughout the period although, under the impetus of the industrial revolution, growth rates generally accelerated by the end of the nineteenth century. Similarly, business cycles in the modern sense seem to have been in evidence at the beginning of the period but by the eighteenth century there is no doubt that modern cycles affected these countries, sometimes simultaneously. Inflationary episodes are both distinct and shared in this long period, with the long inflation of the sixteenth century attesting to the integration of European markets. Finally, the authors find abundant quantitative evidence to support the argument that economies linked by international trade in 1500 came close to achieving global integration by 1913. The European Macroeconomy will be of interest to scholars of economic history, international economics and macroeconomics.

Through case studies of collectors, patrons, and agents who redefined collecting and the art market, this volume illuminates how the changing status of the artist, rise of connoisseurship, role of intermediaries and new patterns of consumption established models for collecting and display that resemble those still practiced today. The book presents new research by recognized scholars who examine the motivations of collectors and agents, emphasizing how their collecting, patronage and advocacy could require support of artists whose reputations were not fully established. Together, the essays invite consideration of works that are familiar in art-historical terms but less so as markers of the socio-economic shifts of a particular cultural moment. This book evolved from a symposium "When Michelangelo was Modern: The Art Market and Collecting in Italy, 1450-1650," organized by the Center for the History of Collecting, that was held at The Frick Collection on April 12 and 13, 2019. Both the book and the symposium were made possible through the generous support of the Robert H. Smith Family Foundation. The book is published in association with The Frick Collection.

Spaces of Responsibility explores the role of ethics in (re)ordering extractive relations under the global condition. Through an empirical investigation of actors, places, and ideas in and around Burkina Faso's industrial gold mining sector, this volume carries out an anti-essentialist yet critical examination, offering new insights into global mining capitalism. Corporate concession-making practices, the implementation of (national) mining legislation, and civil society interventions in mining areas all contribute in different ways to the dialectics of the global. Accordingly, the ongoing territorialization of mining investment often has considerable impacts on the well-being of populations in the Global South. At the same time, multinational corporations today cannot completely distance or isolate themselves from the political, economic, and social contexts they are interacting in and with. Drawing on theoretical debates about the links between resource extraction and socio-economic development, multi-scalar negotiations of ethics in mining governance are ethnographically retraced. In terms of gains and benefits, these negotiations manifest themselves spatially, providing access for some actors while excluding others.

In "Marco Polo was in China" Hans Ulrich Vogel offers an innovative look at the highly complex topics of currencies, salt production and taxes, commercial levies and other kinds of revenue as well as the administrative geography of the Mongol Yuan empire. The author s rigorous analysis of Chinese sources and all the important Marco Polo manuscripts as well as his thorough scrutiny of Japanese, Chinese and Western scholarship show that the fascinating information contained in "Le devisament dou monde" agrees almost pefectly with that we find in Chinese sources, the latter only available long after Marco Polo s stay in China. Hence, the author concludes that, despite the doubts that have been raised, the Venetian was indeed in Khubilai Khan s realm.

In the 1970s, the Keynesian orthodoxy in macroeconomics began to break down. In direct contrast to Keynesian recommendations of discretionary policy, models advocating laissez-faire came to the forefront of economic theory. Laissez-faire no longer stood as an exceptional policy endorsed for rare occurrences of market clearing; rather it became the policy standard. This book provides the definitive account of this watershed and traces the evolution of laissez-faire using the cases of its proponents, Frank Knight, Henry Simons, Friedrich von Hayek, Milton Friedman, James Buchanan and Robert Lucas. By elucidating the pre-analytical framework of their writings, Sherryl Kasper accounts for the ideological influence of these pioneers on theoretical work, and illustrates that they played a primary role in founding the theoretical and philosophical use of rules as the basis of macroeconomic policy. A case study of the way in which interwar pluralism transcended to postwar neoclassicism is also featured. The volume concludes that economists ultimately favoured new classical economics due to the theoretical developments it incorporated, although at the same time, since Lucas uncritically adapted some of the ideas and tools of Friedman, an avenue for ideological influence remained. Tracing the evolution of American macroeconomic theory from the 1930s to the 1980s, this book will appeal to those with an interest in macroeconomics and in the history of scholars associated with the Chicago School of economics.

Based on Guilliam Forchondt's surviving business documentation in Antwerp and applying an aggregate and data-driven approach, Connecting Art Markets focuses on the role of art dealers in mediating the supply and demand for art, behaving in particular ways as to influence the markets for artworks in which they were strategically invested. Van Ginhoven presents her findings on Guilliam Forchondt's workshop production volumes and transatlantic art trade flows, and evaluates the relationship between the production of paintings in the Southern Netherlands, their local, regional and overseas distribution channels, and the markets for these works in Europe and the Americas during the seventeenth century.

The general store in late-nineteenth-century America was often the economic heart of a small town. Merchants sold goods necessary for residents' daily survival and extended credit to many of their customers; cash-poor farmers relied on merchants for their economic well-being just as the retailers needed customers to purchase their wares. But there was more to this mutual dependence than economics. Store owners often helped found churches and other institutions, and they and their customers worshiped together, sent their children to the same schools, and in times of crisis, came to one another's assistance.

For this social and cultural history, Linda English combed store account ledgers from the 1870s and 1880s and found in them the experiences of thousands of people in Texas and Indian Territory. Particularly revealing are her insights into the everyday lives of women, immigrants, and ethnic and racial minorities, especially African Americans and American Indians.

A store's ledger entries yield a wealth of detail about its proprietor, customers, and merchandise. As a local gathering place, the general store witnessed many aspects of residents' daily lives--many of them recorded, if hastily, in account books. In a small community with only one store, the clientele would include white, black, and Indian shoppers and, in some locales, Mexican American and other immigrants. Flour, coffee, salt, potatoes, tobacco, domestic fabrics, and other staples typified most purchases, but occasional luxury items reflected the buyer's desire for refinement and upward mobility. Recognizing that townspeople often accessed the wider world through the general store, English also traces the impact of national concerns on remote rural areas--including Reconstruction, race relations, women's rights, and temperance campaigns.

In describing the social status of store owners and their economic and political roles in both small agricultural communities and larger towns, English fleshes out the fascinating history of daily life in Indian Territory and Texas in a time of transition.

Despite their common emphasis upon uncertainty as a key economic variable, Frank Knight and John Maynard Keynes viewed its role from different ethical perspectives. These attitudes were derived from contrasting formative influences and differing views regarding the role of economic theory as applied to the real world.William Greer reveals that the intellectual atmosphere into which Keynes was born led him to consider individual and collective action positively, enabling policymakers to take purposeful, deliberate action, in the face of an uncertain, non-ergodic future. The conservative, theological era from which Knight emerged left him accepting of a predetermined, ergodic world in which the government should assume a minimal role in ensuring the smooth operation of a system of otherwise free markets. Ethics and Uncertainty explores how two economists, who both placed 'uncertainty' at the heart of their economic theories, come to drastically different and opposing policy recommendations. The volume illustrates that the important lesson to learn from both Knight and Keynes is that ethics and the desire to improve mankind should be the focus of economic enquiry. This fascinating volume will be essential reading for followers of Keynes and Knight. The book will also be welcomed by scholars in the field of economic thought, and those interested in the development of modern macroeconomics and microeconomics.