Between the late fifteenth and early eighteenth centuries, the State of Muscovy emerged from being a rather homogenous Russian-speaking and Orthodox medieval principality to becoming a multi-ethnic and multi-religious empire. Not only the conquest of the neighbouring Tatar Khanates and the colonisation of Siberia demanded the integration of non-Christian populations into the Russian state. The ethnic composition of the capital and other towns also changed due to Muscovite policies of recruiting soldiers, officers, and specialists from various European countries, as well as the accommodation of merchants and the resettlement of war prisoners and civilians from annexed territories. The presence of foreign immigrants was accompanied by controversy and conflicts, which demanded adaptations not only in the Muscovite legal, fiscal, and economic systems but also in the everyday life of both native citizens and immigrants. This book combines two major research fields on international relations in the State of Muscovy: the migration, settlement, and integration of Western Europeans, and Russian and European perceptions of the respective "other". Foreigners in Muscovy will appeal to researchers and students interested in the history and social makeup of Muscovy and in European-Russian relations during the early modern era.

This book presents an innovative history of the first Portuguese public bank, by exploring the relationship between banking activities and the political context. It provides an overview of the origins of the banking system in Portugal, and also in Brazil, and explores new archive materials related to the first years of activity of the Bank of Lisbon and to the public debates on monetary and public finance topics. It discusses the main features of the Bank of Lisbon: a private bank with a mandate to issue banknotes for the purposes of regulating monetary circulation, and with the function of financing the State for current payments, as well as for the amortisation of public debt and the creation of new debt. The aim of contributing to the re-establishment of public trust and credit conferred upon the Bank of Lisbon the status of a quasi-central bank with the obligations of lending and issuing money. This historical case study offers new insights for a better understanding of the role of banks on the regulation of monetary circulation and on the management of sovereign debt. By stressing the relevance of the political context, it also illustrates the key issues of trust, independence and rules associated to decision-making processes in the study of European banking history. The main focus is the link between banking practices and the political environment. However, the reader will also engage in discussions on theoretical and economic policy issues on the main economic topics under survey: money, paper money, public debt and credit system.

One of TIME magazine's All-TIME 100 Best Nonfiction Books One of Times Literary Supplement's Hundred Most Influential Books Since the War One of National Review's 100 Best Nonfiction Books of the Century One of Intercollegiate Studies Institute's 50 Best Books of the 20th Century How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of an immensely influential economic philosophy--one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. First published in 1962, Friedman's Capitalism and Freedom is one of the most significant works of economic theory ever written. Enduring in its eminence and esteem, it has sold nearly a million copies in English, has been translated into eighteen languages, and continues to inform economic thinking and policymaking around the world. This new edition includes prefaces written by Friedman for both the 1982 and 2002 reissues of the book, as well as a new foreword by Binyamin Appelbaum, lead economics writer for the New York Times editorial board.

Italian accounting has a long and honourable tradition of theoretical and applied analysis of the accounting and reporting function, perceived and defined much more broadly than in the Anglo-Saxon tradition. The high point of this perhaps, is the creation of what is known as Economia Aziendale (EA). The antecedents, genesis and later developments are presented here in detail by highly knowledgeable specialists in the field. EA takes as a prerequisite the necessity of the business (entity/azienda) to ensure its own long-run survival. This requires that the necessary resources are retained and preserved, so operating capital maintenance, by definition future-oriented, is essential. It requires a focus on the particular business organization, entity-specific and consistent with today's notion of the business model. Entity-specific information relevant to current and future cash flows is a necessary pre-requisite for ensuring long-run survival, which historical cost accounting, or fair value (being market-specific not entity-specific) satisfactorily achieve. Flexibility of valuation and of reporting, always relevant to the specific asset at the specific time in the specific place, is a necessary condition for effective management. This is exactly the focus of EA and its analysis and tradition. Scholars and advanced students of international regulation and accounting, as well as accounting history, will find this an invaluable guide to a vibrant, scholarly tradition of great practical relevance today.

All schools of thought in economics, explicitly or otherwise, have referred to economic disorder as a self-evident fact. They have also unanimously considered it to be a temporary state. By contrast, this book contends that economic disorder is an interminable condition of human existence. From this perspective, the present study brings to light the misunderstanding of successive generations of economists on economic disorders. This book provides an alternative exposition of economic disorder and correctional measures that can be taken in order to correct these misconceptions. The analysis offered in this book is a scholarly work that provides a thorough explanation of the hidden dimensions and multiple aspects of economic disorders. Much of this book is devoted to uncovering the origins of such dimensions to further refine our understanding of the development of contemporary economies. To this end, this book also outlines how to tackle some of the most intriguing issues of our time. It seeks to provide a refreshing recount of the tenets of economic disorders. This book is a major contribution to the literature on economic disorder and crises and will be of great interest to readers of economic theory, philosophy of economics and the history of economic thought.

This book provides a comprehensive analysis of the evolution of Brazilian economic thought ranging from colonial times through to the early 21st century. It explores the production of ideas on the Brazilian economy through various forms of publication and contemporary thoughts on economic contexts and development policies, all closely reflecting the evolution of economic history. After an editorial introduction, it opens with a discussion of the issue of the historical limits to and circumstances of the production of pure economic theory by Brazilian economists. The proceeding chapters follow the classical periodization of Brazilian economic history, starting with the colonial economy (up until the early 19th century) and the transition into an economy independent from Portugal (1808 through the 1830s) when formal independence took place in 1822. This book is ideal for international and national scholars in social sciences, students in both undergraduate and graduate courses in economics, and any individuals interested in Brazilian economic and intellectual history.

A concsie, comprehensive textbook on twentieth century Britain inclding thematic chapters and case-study chapters on key periods and topics that will engage attention. British History is still widely studied and this book provides an up-to-date survey of that history. The book is fully updated and engages with the most recent historioigraphy as well as what people said they needed, such as more qunatative approaches, movement away from the binary focus on pre- and post-1945.

The financial crisis has exposed severe shortcomings in mainstream monetary economics and modern finance. It is surprising that these shortcomings have not led to a wider debate about the need to overhaul these theories. Instead, mainstream economists have closed ranks to defend existing theories and public authorities have expanded their interference in markets. This book investigates the problems associated with mainstream monetary economics and finance, and proposes alternatives based on the Austrian school of economics. This school emanated from the work of the nineteenth-century Austrian economist Carl Menger and was developed further by Eugen von Boehm-Bawerk, Ludwig von Mises, and Friedrich August von Hayek. In monetary economics, the Austrian school regards the creation of money by banks through credit extension as a key source of economic instability. From this follows the need for a comprehensive reform of our present monetary system. In a new monetary order, money could be issued by both public and private institutions, and there would be no need for fractional reserve banking. Instead of creating money, banks would intermediate it. In finance, the Austrian school rejects the notion of rational expectations and measurable risk. Individuals use their subjective knowledge to gather and evaluate information, and they act in a world of radical uncertainty. Hence, markets are not "efficient" nor can portfolios be built on the basis of known probability distributions of asset prices as described in the modern finance literature. This book explores the need for a new theoretical foundation for asset pricing and investment management that will give practitioners more useful orientation.

This is an easy-to-read book that explains how and why Japan industrialized rapidly. It traces historical development from the feudal Edo period to high income and technology in the current period. Catch-up industrialization is analyzed from a broad perspective including social, economic and political aspects. Historical data, research and contesting arguments are amply supplied. Japan's unique experience is contrasted with the practices of today's developing countries. Negative aspects such as social ills, policy failures, military movements and war years are also covered. Nineteenth-century Japan already had a happy combination of strong entrepreneurship and relatively wise government, which was the result of Japan's long evolutionary history. Measured contacts with high civilizations of China, India and the West allowed cumulative growth without being destroyed by them. Imported ideas and technology were absorbed with adjustments to fit the local context. The book grew out of a graduate course for government officials from developing countries. It offers a comprehensive look and new insights at Japan's industrial path that are often missing in standard historical chronicles. Written in an accessible and lively form, the book engages scholars as well as novices with no prior knowledge of Japan.

Drawing on research into the book-production records of twelve publishers-including George Bell & Son, Richard Bentley, William Blackwood, Chatto & Windus, Oliver & Boyd, Macmillan, and the book printers William Clowes and T&A Constable - taken at ten-year intervals from 1836 to 1916, this book interprets broad trends in the growth and diversity of book publishing in Victorian Britain. Chapters explore the significance of the export trade to the colonies and the rising importance of towns outside London as centres of publishing; the influence of technological change in increasing the variety and quantity of books; and how the business practice of literary publishing developed to expand the market for British and American authors. The book takes examples from the purchase and sale of popular fiction by Ouida, Mrs. Wood, Mrs. Ewing, and canonical authors such as George Eliot, Wilkie Collins, and Mark Twain. Consideration of the unique demands of the educational market complements the focus on fiction, as readers, arithmetic books, music, geography, science textbooks, and Greek and Latin classics became a staple for an increasing number of publishing houses wishing to spread the risk of novel publication.

Jean-Baptiste Say (1767-1832) was one of the first great economists to have laid down the foundations of economic science. Author of the famous Treatise on Political Economy in 1803, which was revised and re-edited on several occasions, he published numerous other works including a voluminous Complete Course in Practical Political Economy in 1828-9. He also taught political economy successively from 1815 until his death in three Parisian establishments: the Athenee, the Conservatory of Arts and Trades, and the College de France. The texts in which Say exposes his approach to political economy have not been available in the English language until now except for the fourth edition of the 'Preliminary Discourse' which serves as an introduction to the Treatise. This book presents a translation which renders his works accessible to the English speaking world. For the first time, English readers will be able to become directly immersed in Say's principal texts, where he develops his conception of political economy. Jean-Baptiste Say and Political Economy proposes a translation of a selection of eleven of Say's texts. The first three are versions of the 'Preliminary Discourse' from the Treatise's editions of 1803, 1814 and 1826 with the variations of the editions of 1817, 1819 and 1841. The following four texts are the opening discourses pronounced at the Conservatory in 1820 and 1828 and the College de France in 1831 and 1832. The eighth text is the 'General Considerations' which open the Complete Course in Practical Political Economy of 1828, with the variations of the 1840 re-edition. The final three texts are those Say devotes to 'the progress of political economy' in what is akin to a history of economic thought. This volume is of great importance to economic historians and people studying Jean-Baptiste Say, as well as those who are interested in economic theory and philosophy and political economy.

In the first half of the twentieth century, a diverse community of Australians settled in Shanghai. There they forged a 'China trade', circulating goods, people and ideas across the South China Sea, from Shanghai and Hong Kong to Sydney and Melbourne. This trade has been largely forgotten in contemporary Australia, where future economic ties trump historical memory when it comes to popular perceptions of China. After the First World War, Australians turned to Chinese treaty ports, fleeing poverty and unemployment, while others sought to 'save' China through missionary work and socialist ideas. Chinese Australians, disillusioned by Australian racism under the White Australia Policy, arrived to participate in Chinese nation building and ended up forging business empires which survive to this day. This book follows the life trajectories of these Australians, providing a means by which we can address one of the pervading tensions of race, empire and nation in the twentieth century: the relationship between working-class aspirations for social mobility and the exclusionary and discriminatory practices of white settler societies.

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.

There is both an extensive introduction with two parts and a reflection at the end, which sets out and summarises the volume in a clear and accessible way, helping students and readers understand the topic as a whole, and enabling them to draw their own conclusions. The chapters are diverse in approach and subject, and many deal with global issues through European mediation, giving readers a survey of the subject beyond the traditional western European lens. The book is truely original, with its emphasis on rules/regulation rather than circulation of knowledge and issues of secrecy, providing students and readers a fresh and cutting edge approach to the history of knowledge.

In little more than a generation, Asia has emerged from centuries of stagnation to become the rising force of the global economy. This transformation has been so spectacular that some have called it a miracle. How did it happen? Taking the reader from the docksides of Korea to the halls of India's finance ministry, The Miracle details the courageous decisions and heroic self-sacrifice that made Asia's ascent possible. Spanning nine countries and probing major historical currents, this account illuminates not only Asia's extraordinary economic rise but also how its causes might emancipate the developing world from poverty and guide the developed world to further prosperity.

Using more than a decade of reporting and analysis, Time magazine and former Wall Street Journal reporter Michael Schuman uncovers how outsourcing to Asia began; how Asia's most famous companies, such as Sony and Honda, became global corporations; and how technological changes and global economic shifts made Asia's boom possible. He reveals the compelling human side to this economic story, introducing readers to the political strongmen, entrepreneurs, and policymakers who made the Miracle a reality. This engaging historical narrative brings to life the ideas and actions of a diverse group of Asians--dictators and democrats, generals and technocrats, economists and engineers.

Some of the characters in the book have captured the global imagination for years, such as China's reformer Deng Xiaoping and Sony founder Akio Morita. Others are less well known, including Park Chung Hee, Korea's tightfisted nation builder; Liu Chuanzhi, the risk-taking founder of PC maker Lenovo; and Azim Premji, the mastermind behind Wipro, one of India's technology giants. All of them shared a dream--to elevate Asia to its proper place of influence in the world and eradicate the poverty around them.

The Miracle not only offers profound insight into Asia and its increasing wealth and power; it also reveals how these seismic shifts continue to reverberate through the global economy. The implications of Asia's economic ascent for the rest of the world are surprising, promising, and inspiring. Readers of The Miracle will gain a deep understanding of Asia's place in the global economy--and of their own.

It is now widely acknowledged that history is useful, even essential, because it helps us predict the future. The history of ideas in economics, as in other fields of inquiry, plays an important role in enlightening current researchers as they endeavour to understand contemporary events and anticipate the future of human societies. This book brings together a fine collection of chapters that span contributions from forgotten classics to the most recent new thinking about critical issues such as growth, wealth, its creation and its distribution among members of society. It is A Brief History of Economic Thought, but it will certainly go a long way in helping undergraduate students and other researchers who are curious about the evolution of economic ideas over the last five centuries. Chapters offer discussions on the main tenets of post-Keynesian economics, and focus on issues of growth, wealth and income distribution. The debate on the role of government versus the market is brought to the fore within the context of economic thought from the Physiocrats to the post-Keynesians. The editors have created an essential read for scholars and students interested in the history of economic thought and post-Keynesian economics.

Thailand's dynamic economic development has earned it a reputation as the "Fifth Tiger" (following on the heels of the superperforming "Four Tigers" - South Korea, Taiwan, Singapore and Hong Kong). This is a study of Thailand's development experience since 1955.

From antiquity to our own time those interested in political economy have with almost no exceptions regarded the natural physical environment as a resource meant for human use. Focusing on the period 1600-1850, and paying particular attention to major figures including Adam Smith, T.R. Malthus, David Ricardo and J.S. Mill, this book provides a detailed overview of the intellectual history of the economic consideration of nature from antiquity to modern times. It shows how even someone like Mill, who was clearly influenced by romantic notions regarding the spiritual need for contact with pristine nature, ultimately regarded it as an economic resource. Building on existing scholarship, this study demonstrates how the rise of modern sensitivity to nature, from the late eighteenth century in particular, was in fact a dialectical reaction to the growing distance of modern urban civilization from the natural environment. As such, the book offers an unprecedentedly detailed overview of the intellectual history of economic considerations of nature, whilst underlining how the history of this topic has been remarkably consistent.

Comprising a series of unique and informative interviews, this original book focuses on the evolution and current state of the economic literature on the Great Depression. Renowned economists assess the status of the remaining debates, evaluate what economists do and do not know about the economics of the interwar era, and examine the new directions economic research is taking in attempting to better understand this important economic epoch. Every generation of economists tries to understand the Depression, but the interwar generation of economists who lived through it left several issues unresolved. Often scholars from the generation that follows a particular event are the ones who provide fresh and disinterested evaluations of the historical period. We are now at that point in our evaluation of the economics of the interwar era. This book contains interviews with 12 American economists who have made substantial contributions to our understanding of the economics of the Great Depression: Peter Temin, Ben Bernanke, James Hamilton, Robert Lucas, Lee Ohanian, Christina Romer, Barry Eichengreen, Stephen Cecchetti, James Butkiewicz, Michael Bordo, Charles Calomiris and Allan Meltzer. Together and individually, they provide an enlightening account of what we have learned about the Great Depression from the post-World War II generation of economists. This accessible, highly readable book continues and extends the discussion of the Great Depression, appealing to students and scholars of both economics and history.

Knowledge, Social Institutions and the Division of Labour gives rise to a new and richer institutional analysis of the economy centred around the analysis of language, the division of labour and social knowledge. It is in this perspective that the economic analysis of institutions comes to be associated with the study of civil society, or with the broad framework of communication and coordination behind the interaction of individuals in economic and non-economic spheres. This fascinating book is divided into three parts beginning with the issue of the development of science as an aspect of the division of labour, starting from methodological problems on the communication of scientific knowledge. The volume goes on to explore issues on the moral bases of social interaction and, more particularly, of commercial society before ending with in depth analyses of questions on the division of labour, social institutions and the diffusion of knowledge in society.

This research review includes classic works on the theoretical foundations of entrepreneurship research and provides important groundwork for future investigations. Professor Landstrom and Professor Lohrke have carefully selected the seminal, currently relevant and, in many cases, difficult-to-access studies within the field, covering the entrepreneurial processes of opportunity recognition, evaluation and exploitation. Reflecting the heavily interdisciplinary nature of the research, many of the papers have a basis in the spheres of economics, social sciences and strategic management.

In Debt, Innovations, and Deflation, the authors analyze the deflation theories of Thorstein Veblen, Irving Fisher, Joseph A. Schumpeter, and Hyman Minsky. In so doing, they develop a paradigm for understanding the phenomenon of deflation. They explain how technological, organizational, and financial innovations, combined with developments related to the creation and use of debt, give rise to conditions in which both deflation and inflation can be present in the modern economy. The past several years have ushered in a new era in economic policy issues. After decades of concern over inflation, a series of studies brought to light the potentially greater danger of deflation. In response, the authors provide a critical re-examination of the literature and theories of deflation. A driving question behind the research is whether post-World War II capitalist economies rely on economic policies and institutional reforms to keep an inherent tendency toward deflation in check? And can the theories of Veblen, Fisher, Schumpeter and Minsky shed light on how the creation and use of debt can create a modern economy affected simultaneously by deflation and inflation? Scholars and students of economic history and finance will enjoy this insightful examination of the subject.

The figure of the entrepreneur has become a relevant factor that explains the process of growth and economic development. Rising unemployment rates have generated among institutional and private agents, a significant interest in promoting entrepreneurship as a formula to eradicate this social scourge of unemployment. Active policies that favor business culture and initiative are being promoted in all areas. In the university world, academic research has multiplied the work on entrepreneurship, a term that includes a triple meaning: the figure of the entrepreneur, the business function and the creation of companies. This versatile meaning must be based on a consistent theory about the company and the entrepreneur. This book presents specific cases of companies and entrepreneurs that have had their role throughout the history of Spain. The intention is to show the techniques and learning acquired by those agents, which have allowed a considerable advance in the knowledge of the structure and business development. This book brings together the research carried out by its authors with primary sources and makes it accessible to a wide audience-Spanish and Latin American-and will be of value to researchers, academics, and students with an interest in Spanish entrepreneurship, business, and management history.

Adam Smith's contribution to economics is well recognised, yet scholars have recently been exploring anew the multidisciplinary nature of his works. The Adam Smith Review is a rigorously refereed annual review that provides a unique forum for interdisciplinary debate on all aspects of Adam Smith's works, his place in history, and the significance of his writings to the modern world. It is aimed at facilitating debate among scholars working across the humanities and social sciences, thus emulating the reach of the Enlightenment world which Smith helped to shape. This twelfth volume brings together leading scholars from across several disciplines and contributes to two particular themes. First, there is a focus on Adam Smith's moral and political philosophy, exploring how Smith's approach finds expression in both abstract philosophy and practical judgment. Second, there is a focus on epistemology, economics, and law, with innovative interpretations of Smithian theories.