Lombard Street is Walter Bagehot's famous explanation of the England central banking system established during the 19th century. At the time Bagehot wrote, the United Kingdom was at the peak of its influence. The Bank of England in London, was one of the most powerful institutions in the world. Working as an economist at the time, Walter Bagehot sets about explaining how the British government and the Bank of England interact. Leading on from this, he explains how the Bank of England and other banks - the Joint-Stock and Private banking companies - do the business of finance. Bagehot is not afraid to admit that life at the bank is usually quite boring, albeit punctuated by short periods of sudden excitement. The sudden boom of a market, or sudden fluctuations in the credit system, can create an excited demand for money. The eruption of an economic depression, which Bagehot aptly notes is rapidly contagious around different sectors of the economy, can also make working in the bank a lot less tedious.

The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system.

Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.

Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity.

Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.

Warren Samuels's second and concluding selection of essays focuses on early 20th century economists who, while relatively well-known in their times, have tended to be obscured by the more prominent stars of the discipline. It illustrates that economics is more diverse and complex than conventional histories of economic thought tend to identify. In particular it includes contributions on those economists who were not in the mainstream, or, if in the mainstream, practised economics in a somewhat alternative manner. Warren Samuels has assembled a collection of essays on thirteen economists - six German and seven Italian - who remain noteworthy of study to this day. The economists featured in the volume represent a variety of ways of practising economics - theoretical, methodological and policy-orientated - who all contributed to the understanding of economic processes and institutions at the deepest levels. European Economists of the Early 20th Century will appeal to all those with an interest in the philosophy and evolution of economics and to historians of economic thought.

Private bankers have been defined as owner-managers of their bank, irrespective of their type of activity, which could be in any field of banking, sometimes in conjunction with another one, especially commerce in the earlier periods. Analysing the experiences of European private bankers from the early modern period to the early twenty-first century, this book starts by examining the slow emergence of specialist private bankers, largely from amongst those who provided commercial credit. This initial consideration culminates in a focus upon the roles that they played, both during the onset of the continent's industrialization, and in orchestrating the finances of the emerging world economy. Its second theme is private banking's waning importance with the rise of joint-stock competitors, which became increasingly apparent in Britain during the mid-nineteenth century, and elsewhere within Europe some decades later. Lastly, attention is paid to the decline of private bankers in the twentieth century -a protracted and uneven decline, combined with the persistence and even the enduring success of some segments of the profession. It concludes with the revival of private banking in the late twentieth century as a response to the development of a new market - the management of personal wealth.

The Theory of Economic Growth compares the main theories of growth from Adam Smith to the present day in order to isolate their logical structures, theoretical domains and methodological underpinnings. The book provides original solutions to theoretical questions still debated in contemporary literature and points out new directions for further research.The authors carry out a 'vertical' or in-depth analysis of the three main schools of thought; classical, Keynesian and neo-classical. They perform a 'horizontal' analysis of a wide range of items connected with growth theory, such as competition, technical change, division of labour, business cycles, the impact on environment, and the financial intermediation. Attention is also given to the evolutionary approach to economic growth. This book will be of great interest to scholars of economic growth, macroeconomics, and historians of economic thought.

In Rethinking the Industrial Revolution: Five Centuries of Transition from Agrarian to Industrial Capitalism in England, Michael Andrew Zmolek offers the first in-depth study of the evolution of English manufacturing from the feudal and early modern periods within the context of the development of agrarian capitalism. With an emphasis on the relationship between Parliament and working Britons, this work challenges readers to 'rethink' the common perception of the role of the state in the first industrial revolution as essentially passive. The work chronicles how a long train of struggles led by artisans resisting efforts by employers to transform production along capitalist lines, prompted employers to appeal to the state to suppress this resistance by coercion.

Providing an exceptional overview and analysis of the global economy, from the origins of Homo sapiens to the present day, Colin White explores our past to help understand our economic future. He veers away from traditional Eurocentric approaches, providing a truly global scope for readers. A History of the Global Economy takes a holistic, interdisciplinary approach, beyond the narrow application of economic theory, to include the impact of climate change, genetics and culture. The main themes include the creative innovativeness of humans and how this generates economic progression, the common economic pathway trodden by all societies and the complementary relationship between government and the market. The book moves through the four key economic stages of human history - foraging, agriculture, industry and services - to finally examine where the direction of our future may lie. This comprehensive and ambitious book is a must-read for economists, particularly economic historians, as well as anthropology and political history scholars. It not only explores the history and origins of the global economy but also provides a valuable analysis of the current state of economic affairs, making it an ideal book for those wishing to understand more about our ever-evolving global society.

This book reveals changing management paradigms with new normal in the maritime sector. Thus, maritime business has once again justified that it's one of the leading and ceaseless sectors of all times during hard times. Amidst the pandemic, employees of the maritime and logistics sector have continued their activities both on shore and on board in order to complete operations and supply continuity of logistics management in hard times. While organizations work on giving the best services to customers, the shipping industry has been affected by the work life changes of the pandemic. Remote work opportunities for employees of onshore maritime organizations has led to sustainable changes for the future of global maritime business. Therefore, changes have been felt in talent management in new shipping, changing maritime ethics and affected maritime industry psychology during Covid19 pandemic, employees' motivation, importance of seafarers, employee rights and responsibilities. The book addresses the future state of maritime organizations, the future of work in the maritime industry, seafarers, onshore employees, employers, definition of remote work amidst changes and new regulations in the new world normal to reveal how such change effected the global maritime industry. This book will shed light on the Leaders and Managers from maritime and logistics industries by sharing experiences, new paradigms, practices and strategies. This provides practical ideas and ways to cope with the consequences of the New Normal in the wake of the pandemic crisis worldwide. Furthermore, the book inspires other people, particularly in the maritime industry as well administrators, employees, leaders and those in senior management positions on how to survive during this period of uncertainties and challenges in operating their business and their human resources management activities.

This fully revised and updated edition of a seminal reference work provides a detailed chronological account of the development of European integration. The history of Economic and Monetary Union (EMU), which began immediately after World War II, is recounted in the form of a descriptive summary of the most significant events, measures, arrangements and conferences. The chronology concludes at the end of 2001 with what is arguably one of the most important events in European history; the introduction of the euro notes and coins in twelve nation states. Throughout, Wim Vanthoor offers a detailed yet concise account of the evolution of the economic and political ideas which have culminated in this defining moment. The book is interspersed with quotations from the addresses, orations and comments of politicians and those closely involved with the process of European integration. This accessible book will be essential reading for anyone with an interest in the history of European integration.

This book examines the Westernization Movement in modern Chinese History, in the latter 19th century and the economic impact on manufacturing and enterprise evolution. It examines the rise, development, and performance of this movement on both the micro and macro-levels. This book reveals achievements in technology transfer without political changes, which set the limits for the westernization movement. It evaluates the link between the Westernization Movement and China's economic reforms after 1978, and the factors that may have constrained the development of economic thought in China. The book provides valuable insights into how Chinese economic thought transitioned, and is a valuable contribution to the debate on how the early Westernization Movement in China caused a change in consumer thought. It will be of interest to academics in economic history and those interested in the development of modern China and the emergence of manufacturing and entrepreneurship in China.

In "Religion, Technology, and the Great and Little Divergences" Karel Davids offers a new perspective on technological change in China and Europe before the Industrial Revolution. This book makes an innovative contribution to current debates on the origins of the 'Great Divergence' between China and Europe and the ' Little Divergence' within Europe by analysing the relationship between the evolution of technical knowledge and religious contexts. It deals with the question to what extent disparities in the evolution of technical knowledge can be explained by differences in religious environment. It takes a comparative look at the relation between technology and religion in China and Europe between c.700 and 1800 from four angles: visions on the uses of nature, the formation of human capital, the circulation of technical knowledge and technical innovation.

This book traces the evolution of the highly integrated global financial system from 1750 to the present. It examines the corporate form of business organization in the eighteenth century that saw an explosion of growth in the nineteenth, which facilitated the international movement of capital. The author also deals with the parallel growth of financial markets and explains how the need to finance public debts paved the way for stock markets as well as outlining the role of private merchant bankers, who originated as international bankers with family-run offices across Europe. He charts the development of banks into public corporations and follows the evolution of modern paper money, explaining the emergence of institutions such as the International Monetary Fund and the World Bank. While tracing the development of foreign-exchange markets and the history of trading blocs, the book also examines how economic powers such as Britain and France used access to capital to wield power in less-developed parts of the world. Finally, an history of financial crises is presented, revealing how economic shocks reverberate from one country to another today through the global financial network.

Taiwan's economic development experience represents a unique case study especially in the wake of the Asian financial crisis. Taiwan has performed outstandingly in terms of macroeconomic and industrial development, particularly during recent democratic and social change. This book aims to provide a broad picture of these institutional reforms and policy evolutions. The expert contributors detail and examine the interactive relationship between Taiwan's economic liberalization, political democratization and social pluralization. Taking 1980 as a watershed, the book highlights the impact these economic and cultural changes have exerted on SMEs, foreign trade and investment, technological progress, industrial development and policy, and the reform of financial and fiscal systems. They investigate the contentious issue of whether political democratization is beneficial for economic development and go on to discuss the creation of an efficient Taiwanese economy and the resolution of conflicts created by social pluralization. The book analyses the comparative advantage of Taiwan over comparable countries, paying particular attention to the Asian financial crisis. The authors offer a fresh approach by observing Taiwanese development post 1980 and integrating economic, political and social analysis. As such, development economists and scholars of Asian economics will find this unique book both useful and enlightening.

It has often been assumed that the subjects of the Ottoman sultans were unable to travel beyond their localities - since peasants needed the permission of their local administrators before they could leave their villages. According to this view, only soldiers and members of the governing elite would have been free to travel. However, Suraiya Faroqhi's extensive archival research shows that this was not the case; pious men from all walks of life went on pilgrimage to Mecca, slaves fled from their masters and craftspeople travelled in search of work. Most travellers in the Ottoman era headed for Istanbul in search of better prospects and even in peacetime the Ottoman administration recruited artisans to repair fortresses and sent them far away from their home towns. In this book, Suraiya Faroqhi provides a revisionist study of those artisans who chose - or were obliged - to travel and those who stayed predominantly in their home localities. She considers the occasions and conditions which triggered travel among the artisans, and the knowledge that they had of the capital as a spatial entity. She shows that even those craftsmen who did not travel extensively had some level of mobility and that the Ottoman sultans and viziers, who spent so much effort in attempting to control the movements of their subjects, could often only do so within very narrow limits. Challenging existing historiography and providing an important new revisionist perspective, this book will be essential reading for students and scholars of Ottoman history.

Pitting fascists and communists in a showdown for supremacy, the Spanish Civil War has long been seen as a grim dress rehearsal for World War II. Francisco Franco's Nationalists prevailed with German and Italian military assistance-a clear instance, it seemed, of like-minded regimes joining forces in the fight against global Bolshevism. In Hitler's Shadow Empire Pierpaolo Barbieri revises this standard account of Axis intervention in the Spanish Civil War, arguing that economic ambitions-not ideology-drove Hitler's Iberian intervention. The Nazis hoped to establish an economic empire in Europe, and in Spain they tested the tactics intended for future subject territories. "The Spanish Civil War is among the 20th-century military conflicts about which the most continues to be published...Hitler's Shadow Empire is one of few recent studies offering fresh information, specifically describing German trade in the Franco-controlled zone. While it is typically assumed that Nazi Germany, like Stalinist Russia, became involved in the Spanish Civil War for ideological reasons, Pierpaolo Barbieri, an economic analyst, shows that the motives of the two main powers were quite different. -Stephen Schwartz, Weekly Standard

This volume of new, original essays reflects the lifelong concerns and writings of the person they honor, Professor Howard Sherman. Sherman wrote on a wide range of topics - the causes of recessions, depressions and mass unemployment under capitalism; the difficulties and challenges of establishing viable democratic planning systems under socialism; the down-to-earth realities of economic life in the United States, the Soviet Union and elsewhere; and the theoretical traditions he drew upon to inform these empirical studies, i.e. Keynesianism, institutionalism and, most especially, Marxism. The contributors follow in Sherman's tradition through their careful analysis of topics such as the long-term trends in contemporary global capitalism; the relationship between Marxism and institutionalism; debates over the usefulness of class analysis; the political economy of financial liberalization; lessons from the demise of socialism in the Soviet Union and China; and the possibilities for advancing a workable egalitarian economic agenda. This book demonstrates the continued vibrancy and relevance of radical political economy as a mode of social scientific analysis. Scholars and students in economics, sociology, history, philosophy and political science will find the essays thought-provoking and informative.

The book Southwest China in Regional and Global Perspectives (c. 1600-1911) is dedicated to important issues in society, trade, and local policy in the southwestern provinces of Yunnan, Guizhou and Sichuan during the late phase of the Qing period. It combines the methods of various disciplines to bring more light into the neglected history of a region that witnessed a faster population growth than any other region in China during that age. The contributions to the volume analyse conflicts and arrangements in immigrant societies, problems of environmental change, the economic significance of copper as the most important "export" product, topographical and legal obstacles in trade and transport, specific problems in inter-regional trade, and the roots of modern transnational enterprise.