This volume presents for the first time a collection of historically important papers written on the concept of rationality in the social sciences. In 1939-40, the famed Austrian economist Joseph A. Schumpeter and the famous sociologist Talcott Parsons convened a faculty seminar at Harvard University on the topic of rationality. The first part includes their essays as well as papers by the Austrian phenomenologist Alfred Schutz, the sociologist Wilbert Moore, and the economist Rainer Schickele. Several younger economists and sociologists with bright futures also participated, including Alex Gerschenkron, John Dunlop, Paul M. Sweezy, and Wassily W. Leontief, who was later awarded the Nobel Prize for developing input-output analysis. The second part presents essays and commentaries written by today's internationally noted social scientists and addressing the topic of rationality in social action from a broad range of perspectives. The book's third and final part shares the recently discovered correspondence between the seminar principals regarding the original but failed plan to publish its proceedings. It also includes letters, not previously published, between Richard Grathoff, Walter M. Sprondel and Talcott Parsons on the rationality seminar and the exchanges between Parsons and Schutz.

This book investigates the South African business cycle and its links to structural change in the economy. Against the backdrop of the democratic transition in 1994 and the global financial crisis, the authors study how business cycles in South Africa have changed and how cycles are related to key developments in the financial markets, international trade and business sentiment in the country. By focusing on peaks and troughs in economic activity - so-called 'turning-point cycles' - the book links up with the common approach of international policymakers to studying fluctuations in economic activity. The authors also introduce new approaches to measuring phases of the business cycle (to understand slow recoveries after the global crisis), provide comprehensive descriptions to complement quantitative analyses, and utilize new data sources that allow the measurement of economic activity over longer periods. As such, the book provides the first integrated overview of business cycles in an emerging market, providing academics and policymakers with a better understanding of the measurement challenges and drivers of the cycle.

This unique volume provides a survey of U.S. business history in a chronological framework. Designed as a basic chronology of representative events, the work covers the years from 1602 to 1988, presenting those events that pioneered trends and those that represented what was generally happening at a particular time. Richard Robinson has included minor details and incidents that are often missed in other histories of business and has arranged the descriptive historical data in a way that allows readers to draw their own conclusions about the trends and impact of American business.

Each chronological entry is divided into two sections. The first covers general events, describing the changes in lifestyles and living conditions that affected business and the marketplace. Economic conditions, government actions, educational developments, social indicators, union activities, and inventions are included here, as are certain articles and books that note the concerns of a particular time. The second section covers business events, charting the rise and fall of those enterprises engaged in producing goods or providing services. Small companies are featured alongside conglomerates, and wherever possible, the chronology focuses on the colorful individuals--the entrepreneurs, financiers, promoters, and others--who played such an important role in American business. With its chronological presentation, the book not only offers a clear picture of the development of U.S. business, but also a strong indication of how deeply it is interwoven in the fabric of society. It will be a valuable resource for courses in business history, sociology, and American history, and an important addition to both public and academic libraries.

The corporation model of organizations is in terminal decline, says Cook, and is being displaced by what he calls syntagma, a body of persons forming a division of the population of a country. The point he makes by this is that the emerging organization will be no artifact, no fabrication. It will be innately human, and in that sense, organic. His book traces the philosophical and historical development of the modern corporation through Hellenistic-Judeo-Christian theologies, with particular emphases on the social, political, and economic impacts of rationalistic science, impacts such as humanism, democracy, capitalism, and behaviorism. Cook offers an analysis of the critical aspects of the corporation as it exists today, and draws heavily for evidence upon contemporary management theories and practices. In doing so he argues that it is the radical changes going on in society itself that is rendering the traditional corporation obsolete. And, since western civilization is undergoing an epochal shift, the new, emerging corporation can have no resemblance to the old model. He maintains that the organization evolving to replace it will be characterized by common values, mutual purpose, excess capacity, and creative action, and will have two dynamics, what he calls commensuration and essentiality. Only with this kind of human system is it possible to create an organization that solely and exclusively serves the common good. His book is a provocative contribution to the professional and academic literature of several fields, including management, the social sciences, organizational behavior, development, and history, and will be of particular interest as well to certain well informed nonspecialists with concern for the role played the corporation in their societies.

This book offers the first intellectual biography of the Anglo Australian economist, Colin Clark. Despite taking the economics world by storm with a mercurial ability for statistical analysis, Clark's work has been largely overlooked in the 30 years since his death. His career was punctuated by a number of firsts. He was the first economist to derive the concept of GNP, the first to broach development economics and to foresee the re-emergence of India and China within the global economy. In 1945, he predicted the rise and persistence of inflation when taxation levels exceeded 25 per cent of GNP. And he was also the first economist to debunk post-war predictions of mass hunger by arguing that rapid population growth engendered economic development. Clark wandered through the fields of applied economics in much the same way as he rambled through the English countryside and the Australian bush. His imaginative wanderings qualify him as the eminent gypsy economist for the 20th century.

This book focuses on wealth inequality trends in the North Atlantic Anglo-sphere countries of Canada, the United Kingdom, and the United States over the period from 1668 to 2013: a wider perspective than generally used when wealth inequality is discussed. This book demonstrates that it is important to put current dimensions of wealth inequality into historical context by looking at performance over the long run rather than simply a few decades. Moreover, this contribution compiles a substantial amount of data on estimates of wealth inequality and provides a concise overview of trends as well as the drivers of inequality over the long term. It serves as a short supplementary text for economics and sociology courses on economic inequality, economic history and social change-while remaining of interest to scholars and policymakers invested in equality debates of the past and present.

The contributors to this collection question the boundaries and limitations that are imposed on the study of cities by urban sociology. They do not disagree that during most of their history, the regions and peoples of the world have been organized hierarchically and that there are differences that need to be explained. But they see the processes and relations that link regions and people together as the main factor that explains these differences. It is the differentiation and not the differences per se that constitute this volume's focus and, in its respective accounts, taking care not to privilege any one region or time period on the basis of its presumed special characteristics. Against this background the book is divided into three parts. Part one deals with places outside of western Europe and with times that preceded the establishment of the European-based capitalist world-economy. The articles in part two discuss the different aspects of the concept of hegemony and the establishment of domination as these apply to cities in the world-system. In part three the focus shifts back to extra-European zones where the patterns of transformation around cities under the aegis of capitalist world-economy are examined. This book constitutes an important addition to the literature on cities. By approaching cities from a large-scale and a long-term perspective, the contributors develop a historical explanation of some of the different patterns of development that affected particular cities in their interaction with the world-economy. This historical and holistic perspective represents an improvement over most of urban sociology, where cities or aspects of cities are studied in isolation from all contingent and contextual factors. This book can be used by scholars, graduate, and upper-division undergraduate students of urban history and sociology.

The Political Economy of Imperial Relations offers a much needed historical and theoretical intervention into the relationship between Britain and Malaya after the Second World War. It challenges existing accounts and details a strong continuity in this relationship from 1945 until 1960.

This book provides insight into the remarkable life and work of the Italian economist Antonio de Viti de Marco (1858-1943). This book presents eleven interviews with American and Italian scholars from various disciplines that provide a profile of this major intellectual as an economic theorist, politician, and individual. He was the founder of the pure theory of Public Finance, played an important role in the foundation of Public Choice, and was also a staunch liberal and radical politician. An English translation of one of his books, made as early as 1936, greatly influenced James M. Buchanan, Nobel prize-winner for economics.

This book examines the three historical master tales and questions their validity and relevance in today's moment of global disorientation and lack of convincing and dominant economic narrative. Investigating the ideological dimension and exploring the continued impact of Marx, Keynes and Hayek, the authors demonstrate how these three economic narratives became entangled over time and under increasing complexity, overlapping and competing with each other. The book reflects on the meaning of the historical legacy of the three narratives and investigates their significance today. All three outlined the prospects of a better and more economically efficient world with increased social justice, Magnusson and Strath argue that they constitute a legacy on which a new economic tale must be based, a legacy to draw on or confront. A concise and engaging work, this is an ideal resource for students and academics interested in economics, political science, history and global studies. A Brief History of Political Economy presents a powerful economic history of the last 170 years as a basis for economic reconsideration.

This study focuses on a sample of occupational groups representative of the Mittelstand in the city of Hamburg - white-collar workers, artisans, retailers, civil servants and house owners - and examines the strains imposed by the infaltionary conditions on each group, seriously questioning the commonly-held interpretation of the Infaltion's effects and chronology.

In the decades after World War II, inflation undermined the aspiration for full employment in Australia. This book tells the story of how the Australian state was shaped by the confrontation with monetary instability: a pre-history of neoliberalism.

When we talk about clusters, it's the fabulous destiny of Silicon Valley that first comes to mind - the place where entrepreneurs and policymakers alike flock. But do we really understand the complex mechanics of these clusters? What tools can economics and other related disciplines use to analyze their performance? When it comes to spending taxpayer money to support cluster development, do benefits actually exceed costs? This book provides a synthesis of cluster theory and presents methodologies to analyze their structure and performance. It also contains insights into how to renew regional innovation policy. The French edition of this volume was granted Best Book in Economics 2016 by The French Association of Economics (AFSE)

This book serves as a foundational reference of U.S. land settlement and early agricultural policy, a comprehensive journey through the evolution of 20th century agricultural policy, and a detailed guide to the key agricultural policy issues of the early 21st century. This book integrates the legal, economic and political concepts and ideas that guided U.S. agricultural policy from colonial settlement to the 21st century, and it applies those concepts to the policy issues agriculture will face over the next generation. The book is organized into three sections. Section one introduces the main themes of the book, explores the pre-Columbian period and early European settlement, and traces the first 150 years of U.S. agricultural policy starting with the post revolution period and ending with the "golden age" of agriculture in the early 20th century. Section two outlines that grand bargain of the 1930s that initiated the modern era of government intervention into agricultural markets and traces this policy evolution to the early days of the 21st century. The third section provides an in-depth examination of six policy issues that dominate current policy discussions and will impact policy decisions for the next generation: trade, environment/conservation, commodity checkoff programs, crop insurance, biofuels, and domestic nutrition programs.

This book presents the complete and pioneering works of the great Spanish economist, German Bernacer (1883-1965), to an English audience for the first time. Bernacer, the first director of the Research Service of the Bank of Spain (1930-55), inspired Keynes' theory but was also a major critic and opponent of it. A macro economist by trade, Bernacer's major theory related to recurring crises, which he believed were inherent in the existence of speculative markets such as property, works of art, long term currency markets, commercial trading, materials, and energy. Bernacer believed that these speculative markets generate unearned income and hoarding,they abound in financial capital and, when such capital is captured, it then lacks in production industries where real value is created, draining their financing. The author shows how history has repeated itself in this manner in 1929, 2007, 2008, 2014 and 2016. The author derives his content from Bernacer's Spanish publications and his private correspondence with his contemporary economists, providing an historical and thematic insight into his thinking. It is well-timed to contribute to current worldwide debates on monetary,financial and budgetary policies needed to implement an economic order that can restore economic stability, providing readers with rare and important insights into the deep roots of crises. The book will be of interest to all readers interested in the history of economic thought, history of financial crises, Keynesian approaches to economics and criticism to Keynesian approaches.

This book examines failure in the urbanisation of Northwest China as a result of government industrial policies that have impacted on the economic development of the region. By looking at the under-researched provinces of Gansu, Qinghai and Inner Mongolia, which make up a quarter of China's territory, Zheng and Deng challenge the common story of China's miracle growth and reveal the dark side of the country's pursuit of modernity. Severe weather conditions, chronic drought, permanent lack of oxygen and unforgiving terrain in the Northwest make farming, manufacture and services difficult simply because people tend not to stay. Yet, China's current political system forces growth to take place even though basic conditions and prerequisites for market-based growth are missing. This volume analyses 'ghost cities' and social tension in the process of 'forced urbanisation' in which huge amount of resources are wasted, the local environment is systematically damaged and ordinary people's basic rights are brutally violated in the name of higher GDP and greater government glory.

Herbert Hoover, as Secretary of Commerce, and Benjamin Strong, as Governor of the Federal Reserve Bank of New York, played a critical role in the formulation of American monetary policy during the 1920s. Yet little attention has been given to the relationship between them--at first cooperative, then increasingly one of conflict and factionalism--or to the impact of that relationship on policy formulation. This book sheds new light on their roles in policy making and relates those roles to larger conflicts over where policy should be made, how the Federal Reserve System should be structured, and the balance that should be struck between international, national, and regional considerations.

Focusing on the Hoover-Strong relationship from a political rather than a purely economic perspective, the book's scope includes both domestic and international aspects of Federal Reserve policy formulation. New sources have enabled the author to provide both fresh details and a broader interpretation. Elaborating on the belief that the Depression resulted from policies developed during the autumn of 1927, the author contends that the foundation for those policies was laid with America's decision to underwrite the Dawes plan, the decision to underwrite England's return to the gold standard, and the involvement in European monetary stabilization--all issues over which Hoover and Strong disagreed.

This book discusses the role historical events played in determining the pattern of growth of Indian manufacturing. Two important historical events significantly influenced the course of Indian manufacturing from the 15th century AD. The first was the arrival of European merchants via sea route pioneered by Vasco-da-Gamma in 1498 and the other was the dawn of the Mughal Empire in 1526. The book explores how these two events provided the appropriate stimulus for the emergence of traditional flexible manufacturing in India and how they played a vital role in the pattern of growth of the Indian manufacturing: The Mughal Empire created an integrated economy of continental size whereas European trading companies expanded the commercial connectivity of the Indian economy and South East Asia. It further investigates how the circumstances created by the colonial administration, factor endowment and market conditions created the complex forms of manufacturing enterprises that India inherited at the time of independence. It is a valuable resource for students of history, economic history, business history and the history of technology.

This book is the first English translation of Felice di Michele Brancacci's diary of his 1422 mission to the court of Sultan Al-Ashraf Seyf-ad-Din Barsbay of Egypt. Following the purchase of Port of Pisa in 1421, and the building of a galley system, Florence went on to assume a more active role in Levant trade, and this rich text recounts the maiden voyage of the Florentine galleys to Egypt. The text portrays the transnational experiences of Brancacci including those between the East and West, Christians and Muslims, and the ancient and modern worlds. The accompanying critical introduction discusses the unexpected motifs in Brancacci's voyage, as well as tracing the aftershocks of what was a traumatic Egyptian experience for him. It shows that this aftershock was then measured, captured, and memorialized in the iconic image of Tribute Money, the fresco he commissioned from Masaccio, on his return to his own world in Florence.

This study focuses on Empires, from an economic historical perspective. In doing so, it relates current debates in international relations (IR) and politics to the vexed legacy of empires in the past. The book includes analyses of the comparative scholarly literature on Empire in Antiquity, and Empire in the Early Modern and Modern Ages, asking the question if the United Sates is an Empire, and if China an emerging Empire. It contributes to the field given its interdisciplinarity, bringing together both historical and IR insights into world systems in times past. In addition it draws out four key points of separateness between pre-modern and modern empires, and emphases specific economic data. Further to that, the book advances the notion of the emergence of "empires from within" in the 21st century, that is nation-states becoming more multi-ethnic while often stepping back from globalization. And finally it offers future scenarios for the evolution of empires in a Schumpeterian post-industrial world.

This book examines the role of mercantile networks in linking Asian economies to the global economy. It contains fourteen contributions on East, Southeast and South Asia covering the period from 1750 to the present.

Why did Europe experience industrialisation and modern economic growth before China, India or Japan? This is one of the most fundamental questions in Economic History and one that has provoked intense debate. The main concern of this book is to determine when the gap in living standards between the East and the West emerged. The established view, dating back to Adam Smith, is that the gap emerged long before the Industrial Revolution, perhaps thousands of years ago. While this view has been called into question - and many of the explanations for it greatly undermined - the issue demands much more empirical research than has yet been undertaken. How did the standard of living in Europe and Asia compare in the seventeenth and eighteenth centuries? The present book proposes an answer by considering evidence of three sorts. The first is economic, focusing on income, food production, wages, and prices. The second is demographic, comparing heights, life expectancy and other demographic indicators. The third combines the economic and demographic by investigating the demographic vulnerability to short-term economic stress. The contributions show the highly complex and diverse pattern of the standard of living in the pre-industrial period. The general picture emerging is not one of a great divergence between East and West, but instead one of considerable similarities. These similarities not only pertain to economic aspects of standard of living but also to demography and the sensitivity to economic fluctuations. In addition to these similarities, there were also pronounced regional differences within the East and within the West - regional differences that in many cases were larger than the average differences between Europe and Asia. This clearly highlights the importance of analysing several dimensions of the standard of living, as well as the danger of neglecting regional, social, and household specific differences when assessing the level of well-being in the past.

In times of pandemic and global economic crisis, little more than a decade after the last, there are serious questions about how the liberal order can stand, who its friends are, and what the future will look like. This edited collection provides a comprehensive overview of the principles and stakes at play in the dispute between liberalism and socialism. It explores the 21st century appeal of socialism, particularly to millennials and other relatively young citizens, and shows why modern classical liberalism and neoliberalism have generated tepid support, leading to the resurgence of socialism after it was thought dead and buried due to the dramatic failures of statist models in 1989. The authors put modern socialism and liberalism into renewed dialogue with another to examine whether the two can coexist peacefully, or even reach an overlapping consensus on social reform going forward. It delves into the history and theory of both liberalism and socialism to determine points of overlap and tension, in addition to a cross-disciplinary interpretive analysis of the present epoch to determine how both traditions have evolved since the 20th century. The book is interdisciplinary and provides a broad array of perspectives including a diversity of ideological perspectives ranging from committed Marxists to libertarians. It will be of interest to academics and students in economics and contemporary political culture.

This book explores the causes and nature of the industrial revolution through a comparative study of the main wool textile manufacturing regions of England. Addressing many of the current debates in economic history and eighteenth-century studies through a detailed, archivally-based analysis, it examines how the interplay between merchants, markets and producers shaped the pace and character of economic growth during the eighteenth century, paying particular attention to the implications of rapid product innovation and the export trade.

This book is the first study that analyses bilateral commercial treaties as instruments of peace and trade comparatively and over time. The work focuses on commercial treaties as an index of the challenges of eighteenth-century European politics, shaping a new understanding of these challenges and of how they were confronted at the time in theory and diplomatic practice. From the middle of the seventeenth century to the time of the Napoleonic wars bilateral commercial treaties were concluded not only at the end of large-scale wars accompanying peace settlements, but also independently with the aim to prevent or contain war through controlling the balance of trade between states. Commercial treaties were also understood by major political writers across Europe as practical manifestations of the wider intellectual problem of devising a system of interstate trade in which the principles of reciprocity and equality were combined to produce sustainable peaceful economic development.