A vast region stretching roughly from the Volga River to Manchuria and the northern Chinese borderlands, Central Asia has been called the "pivot of history," a land where nomadic invaders and Silk Road traders changed the destinies of states that ringed its borders, including pre-modern Europe, the Middle East, and China. In Central Asia in World History, Peter B. Golden provides an engaging account of this important region, ranging from prehistory to the present, focusing largely on the unique melting pot of cultures that this region has produced over millennia. Golden describes the traders who braved the heat and cold along caravan routes to link East Asia and Europe; the Mongol Empire of Chinggis Khan and his successors, the largest contiguous land empire in history; the invention of gunpowder, which allowed the great sedentary empires to overcome the horse-based nomads; the power struggles of Russia and China, and later Russia and Britain, for control of the area. Finally, he discusses the region today, a key area that neighbors such geopolitical hot spots as Iran, Afghanistan, Pakistan, and China.

The twentieth century has been popularly seen as "the American Century," as publisher Henry Luce dubbed it, a long period in which the United States had amassed the economic resources, the political and military strength, and the moral prestige to assume global leadership. By century's end, the trajectory of American politics, the sense of ever waxing federal power, and the nation's place in the world seemed less assured. Americans of many stripes came to contest the standard narratives of nation building and international hegemony that generations of historians dutifully charted. In this volume, a group of distinguished junior and senior historians-including John McGreevy, James Campbell, Elizabeth Borgwardt, Eric Rauchway, Elizabeth Cobbs Hoffman, and James Kloppenberg- revisit and revise many of the chestnuts of American political history. First and foremost, the contributors challenge the teleological view of the inexorable transformation of the United States into a modern nation. To be sure, chain stores replaced mom-and-pop businesses, interstate highways knit together once isolated regions, national media shaped debate from coast-to coast, and the IRS, the EPA, the Federal Reserve, the Social Security Administration and other instruments of national power became daily presences in the lives of ordinary Americans. But the local and the parochial did not inexorably give way to the national and eventually to global integration. Instead, the contributors to this volume illustrate the ongoing dialectic between centrifugal and centripetal forces in the development of the twentieth century United States. The essays analyze a host of ways in which local places are drawn into a wider polity and culture. At the same time, they reveal how national and international structures and ideas repeatedly create new kinds of local movements and local energies. The authors also challenge the tendency to view American politics as a series of conflicts between liberalism and conservatism, which Arthur Schlesinger, Sr. and Jr. codified as the idea that American national politics routinely experienced roughly fifteen year periods of liberal reform followed by similar intervals of conservative reaction. For generations, American political history remained the story of reform, the rise and fall, triumphs and setbacks of successive waves of reformers-Jacksonian Democrats and abolitionists, Populists and Progressives, New Dealers and Great Society poverty warriors-and, recently, equally rich scholarship has explored the origins and development of American conservatism. The contributors do not treat the left and right as separate phenomena, as the dominant forces of different eras. Instead they assert the liberal and the conservative are always and essentially intertwined, mutually constituted and mutually constituting. Modern American liberalism operates amid tenacious, recurring forces that shape and delimit the landscape of social reform and political action just as conservatives layered their efforts over the cumulative achievements of twentieth century liberalism, necessarily accommodating themselves to shifts in the instruments of government, social mores and popular culture. These essays also unravel a third traditional polarity in twentieth century U.S. history, the apparent divide between foreign policy and domestic politics. Notwithstanding its proud anti-colonial heritage and its enduring skepticism about foreign entanglements, the United States has been and remains a robustly international (if not imperial) nation. The authors in this volume-with many formative figures in the ongoing internationalization of American history represented among them-demonstrate that international connections (not only in the realm of diplomacy but also in matters of migration, commerce, and culture) have transformed domestic life in myriad ways and, in turn, that the American presence in the world has been shaped by its distinctive domestic political culture. Blurring the boundaries between political, cultural, and economic history, this collective volume aims to raise penetrating questions and challenge readers' understanding of the broader narrative of twentieth-century U.S. history.

In 1940 few Americans had heard of mutual funds. Today U.S. mutual funds are the largest financial industry in the world, with over 88 million shareholders and over $11 trillion in assets. Cottage Industry to Financial Giant describes the developments that have produced mutual funds' long history of success. Among these developments are: * formation of the first mutual funds in the roaring 20s * how the 1929 stock market crash, a disaster for most financial institutions, spurred the growth of mutual funds * establishment in 1934, over FDR's objection, of the United States Securities and Exchange Commission, the federal agency that regulates mutual funds * enactment of the Revenue Act of 1936, the tax law that saved mutual funds from extinction * passage of the Investment Company Act of 1940, the "constitution" of the mutual fund industry * the creation in 1972 of money market funds, which totally changed the mutual fund industry and the entire U.S. financial system *enactment of the Employee Retirement Income Security Act of 1974, which created Individual Retirement Accounts * the accidental development of 401(k) plans, which have revolutionized the way Americans save for retirement * the 2003 trading abuses, the greatest scandal ever in the history of the mutual fund industry Many events have never been reported before. Others have been discussed in works on other subjects such as retirement plans. Thus, this is first book that pulls together the many strands of mutual funds' unique history. Moreover, the author was personally involved in developments over the past forty years, and much of the book is a personal narrative regarding the people and events that have produced mutual funds' success.

The concept of `economic planning' was a central theme of the popular economic policy debate in the 1930s. Dr Ritschel traces the many interpretations of planning, and examines the process of idealogical construction and dissemination of the new economic ideas. He finishes with an explanation of the planners' retreat, later in the decade, from the economics of planning towards the far less ambitious (but also less contentious) alternative - the `middle way' of Keynesian economics.

Migration is the most imprecise and difficult of all aspects of pre-industrial population to measure. It was a major element in economic and social change in early modern Britain, yet, despite a wealth of detailed research in recent years, there has been no systematic survey of its importance. This book reviews a wide range of aspects of population migration, and their impacts on British society, from Tudor times to the main phase of the Industrial Revolution.

The momentum of the British industrial revolution arose mostly in regions poorly endowed by nature, badly located and considered backward and poor by contemporaries. Sidney Pollard examines the initially surprising contribution made by the population of these and other `marginal areas' (mountains, forests and marshes) to the economic development of Europe since the Middle Ages. He provides case studies of periods in which marginal areas took the lead in economic development, such as the Dutch economy in its Golden Age, and in the British industrial revolution. The traditional perception of the populations inhabiting these regions was that they were poor, backward, and intellectually inferior; but Sidney Pollard shows how they also had certain peculiar qualities which predisposed them to initiate progress. Healthy living, freedom, a martial spirit, and the hardiness to survive in harsh conditions enabled them to contribute a unique pioneering ability to pivotal economic periods; illustrating some of the effects of geography upon the development of societies.

Although trade connects distant people and regions, bringing cultures closer together through the exchange of material goods and ideas, it has not always led to unity and harmony. From the era of the Crusades to the dawn of colonialism, exploitation and violence characterized many trading ventures, which required vessels and convoys to overcome tremendous technological obstacles and merchants to grapple with strange customs and manners in a foreign environment. Yet despite all odds, experienced traders and licensed brokers, as well as ordinary people, travelers, pilgrims, missionaries, and interlopers across the globe, concocted ways of bartering, securing credit, and establishing relationships with people who did not speak their language, wore different garb, and worshipped other gods. Religion and Trade: Cross-Cultural Exchanges in World History, 1000-1900 focuses on trade across religious boundaries around the Mediterranean Sea and the Atlantic and Indian Oceans during the second millennium. Written by an international team of scholars, the essays in this volume examine a wide range of commercial exchanges, from first encounters between strangers from different continents to everyday transactions between merchants who lived in the same city yet belonged to diverse groups. In order to broach the intriguing yet surprisingly neglected subject of how the relationship between trade and religion developed historically, the authors consider a number of interrelated questions: When and where was religion invoked explicitly as part of commercial policies? How did religious norms affect the everyday conduct of trade? Why did economic imperatives, political goals, and legal institutions help sustain commercial exchanges across religious barriers in different times and places? When did trade between religious groups give way to more tolerant views of "the other " and when, by contrast, did it coexist with hostile images of those decried as "infidels "? Exploring captivating examples from across the world and spanning the course of the second millennium, this groundbreaking volume sheds light on the political, economic, and juridical underpinnings of cross-cultural trade as it emerged or developed at various times and places, and reflects on the cultural and religious significance of the passage of strange persons and exotic objects across the many frontiers that separated humankind in medieval and early modern times.

After Empires describes how the end of colonial empires and the changes in international politics and economies after decolonization affected the European integration process. Until now, studies on European integration have often focussed on the search for peaceful relations among the European nations, particularly between Germany and France, or examined it as an offspring of the Cold War, moving together with the ups and downs of transatlantic relations. But these two factors alone are not enough to explain the rise of the European Community and its more recent transformation into the European Union. Giuliano Garavini focuses instead on the emergence of the Third World as an international actor, starting from its initial economic cooperation with the creation of the United Nations Conference for Trade and Development (UNCTAD) in 1964 up to the end of unity among the countries of the Global South after the second oil shock in 1979-80. Offering a new - less myopic - way to conceptualise European history more globally, the study is based on a variety of international archives (government archives in Europe, the US, Algeria, Venezuela; international organizations such as the EC, UNCTAD, and the World Bank; political and social organizations such as the Socialist International, labour archives and the papers of oil companies) and traces the reactions and the initiatives of the countries of the European Community, but also of the European political parties and public opinion, to the rise and fall of the Third World on the international stage.

This book is the first coherent quantified assessment of the economy of the Roman Empire. George Maher argues inventively and rigorously for a much higher level of growth and prosperity than has hitherto been imagined, and also explains why, nonetheless, the Roman Empire did not achieve the transition which began in Georgian Britain. This book will have an enormous impact on Roman history and be required reading for all teachers and students in the field. It will also interest and provoke historians of the medieval and early modern periods into wondering why their economies failed to match the Roman level. Part of the problem in assessing the Roman economy is that we do not have much in the way of numerical data, but Roman historians, who rarely have much statistical expertise, have not always recognised the potential of the data we do have. Dr Maher's reassessment of the economy of the Roman Empire has to use the same data as everyone else, but he is able to draw strikingly novel conclusions in two ways: first, by more statistically sophisticated use of a few crucial datasets and, second, by correlating and drawing a coherent picture across the whole economy. On grain yields, firstly, instead of getting bogged down in details of individual cases, George Maher shows how there is a remarkably consistent pattern from which outliers can be excluded, showing yields were much higher than normally assumed. He then demonstrates that high yields are in fact necessary to explain the exceptional urbanization of the Empire. Urbanization at this level in turn, as George Maher shows, has implications for consumption and commerce. He takes this further to show how high levels of trade imply high levels of sophistication in economic practices and mentality. In one of his most methodologically novel chapters, George Maher develops a new and simpler way of assessing average life expectancy and argues for a life expectancy almost double the traditional view. This book, Dr George Maher's doctoral thesis, is the theoretical underpinning of his book Pugnare: Economic Success and Failure.

In this groundbreaking book, renowned global economist David McWilliams unlocks the mysteries and the awesome power of money: what it is, how it works and why it matters.

Money is an epic, breathlessly entertaining journey across the world through the present and the past, from the birthplace of money in ancient Babylon to the beginning of trade along the silk road to China, from Marrakech markets to Wall Street and the dawn of cryptocurrency. By tracking its history McWilliams uncovers our relationship with money, transforming our perspective on its impact on the world right now.

The story of money is the story of our desires, our genius and our downfalls. Money has shaped the very essence of what it means to be human. We can’t hope to understand ourselves without it. And yet despite money’s primacy, most of us don’t truly understand it. Where does money come from? How much is out there? Who controls it? Nothing we’ve invented as a species has defined our own evolution so thoroughly and changed the direction of our planet’s history so dramatically. Money is power – and power beguiles. It unleashes our deepest cravings.

The story of money is the story of earth’s most inventive, destructive and dangerous animal, Homo Sapiens. It is our story.

The United Africa Company (UAC), formed in 1929 by the fusion of the Niger Company and the African and Eastern Corporation, was by far the largest single commercial organization in West and Equatorial Africa, and thus central to modern African economic history. This is the first detailed account to be published and one which fills a serious gap in the literature. It was not commissioned by the company (now reabsorbed into Unilever) but the author had full access to all confidential material in the UAC and Unilever archives and complete freedom in what he wrote. The book is not intended to be primarily a company history but uses the UAC as a focal point for detailed study of how the role of foreign merchant capital changed in response to economic and political developments in Black Africa during this critical half century.

Four decades ago, The Solution, a best-seller co-authored by Leon Louw, helped shape South Africa’s political settlement and left an indelible imprint on its Constitution. Today, the country finds itself at an economic impasse once more – and Louw’s ideas feel more urgent than ever.

From his early battles against apartheid-era property laws to his international advocacy for economic freedom, this book explores what worked, what didn’t, and what still might. With clarity and courage, Cohen distills Louw’s enduring belief: that prosperity and justice flow from empowering people, not politicians.

For policymakers, political thinkers, and all who care about South Africa’s future, this is more than a biography – it’s an invitation to think differently. Perhaps, even, to wake the continent’s economic lion from its long slumber.

In this deeply researched and elegantly told account, Tim Cohen – one of South Africa’s most respected and incisive financial journalists – draws on hours of conversations with Louw to capture the man behind the ideas. The result is a rare and revealing portrait of the extraordinary life, philosophy, and influence of a maverick libertarian who championed liberty, enterprise, and accountability when it mattered most.

John Maynard Keynes (1883-1946) is perhaps the foremost economic thinker of the twentieth century. On economic theory, he ranks with Adam Smith and Karl Marx; and his impact on how economics was practiced, from the Great Depression to the 1970s, was unmatched. The General Theory of Employment, Interest and Money was first published in 1936. But its ideas had been forming for decades ? as a student at Cambridge, Keynes had written to a friend of his love for 'Free Trade and free thought'. Keynes's limpid style, concise prose, and vivid descriptions have helped to keep his ideas alive - as have the novelty and clarity, at times even the ambiguity, of his macroeconomic vision. He was troubled, above all, by high unemployment rates and large disparities in wealth and income. Only by curbing both, he thought, could individualism, 'the most powerful instrument to better the future', be safeguarded. The twenty-first century may yet prove him right. In The Economic Consequences of the Peace (1919), Keynes elegantly and acutely exposes the folly of imposing austerity on a defeated and struggling nation.

The complexity of the American economy and polity has grown at an explosive rate in our era of globalization. Yet as the 2008 financial crisis revealed, the evolution of the American state has not proceeded apace. The crisis exposed the system's manifold political and economic dysfunctionalities.
Featuring a cast of leading scholars working at the intersection of political science and American history, The Unsustainable American State is a historically informed account of the American state's development from the nineteenth century to the present. It focuses in particular on the state-produced inequalities and administrative incoherence that became so apparent in the post-1970s era. Collectively, the book offers an unsettling account of the growth of racial and economic inequality, the ossification of the state, the gradual erosion of democracy, and the problems deriving from imperial overreach. Utilizing the framework of sustainability, a concept that is currently informing some of the best work on governance and development, the contributors show how the USA's current trajectory does not imply an impending collapse, but rather a gradual erosion of capacity and legitimacy. That is a more appropriate theoretical framework, they contend, because for all of its manifest flaws, the American state is durable. That durability, however, does not preclude a long relative decline.

South Carolina's Indian-American governor Nikki Haley recently dismissed one of her principal advisors when his membership to the ultra-conservative Council of Conservative Citizens (CCC) came to light. Among the CCC's many concerns is intermarriage and race mixing. According to the Southern Poverty Law Center, in 2001 the CCC website included a message that read "God is the one who divided mankind into different races.... Mixing the races is rebelliousness against God. " Beyond the irony of a CCC member working for an Indian-American, the episode reveals America's continuing struggle with race, racial integration, and race mixing. The Color Factor shows that the emergent twenty-first-century recognition of race mixing and the relative advantages of light-skinned, mixed-race people represents a "back to the future " moment--a re-emergence of one salient feature of race in America that dates to its founding. Each chapter addresses from a historical perspective a topic in the current literature on mixed-race and color. The approach is economic and empirical, but the text is accessible to social scientists more generally. The historical evidence concludes that we will not really understand race until we understand how American attitudes toward race were shaped by race mixing.

Hayek Book Prize Finalist An Economist Best Book of the Year A Foreign Affairs Best Book of the Year A Financial Times Summer Reading Favorite "Sweeping, authoritative and-for the times-strikingly upbeat...The overall argument is compelling and...it carries a trace of Schumpeterian subversion." -The Economist "[An] important book...Lucid, empirically grounded, wide-ranging, and well-argued." -Martin Wolf, Financial Times "Offers...much needed insight into the sources of economic growth and the kinds of policies that will promote it...All in Washington would do well to read this volume carefully." -Milton Ezrati, Forbes Inequality is on the rise, growth stagnant, the environment in crisis. Covid seems to have exposed every crack in the system. We hear calls for radical change, but the answer is not to junk our economic system but to create a better form of capitalism. An ambitious reappraisal of the foundations of economic success that shows a fair and prosperous future is ours to make, The Power of Creative Destruction draws on cutting-edge theory and hard evidence to examine today's most fundamental economic questions: what powers growth, competition, globalization, and middle-income traps; the roots of inequality and climate change; the impact of technology; and how to recover from economic shocks. We owe our modern standard of living to innovations enabled by free-market capitalism, it argues, but we also need state intervention-with checks and balances-to foster economic creativity, manage social disruption, and ensure that yesterday's superstar innovators don't pull the ladder up after them.