First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.

First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.

Contents:
Part I. Introduction
1. Globalizaton challenge and economic response in the Mediterranean. Sevket Pamuk and Jeffrey G. Williamson
Part II. Long Run Growth: A Comparative Assessment
2. How poor was the European periphery before 1850? The Mediterranean vs Scandinavia. Jaime Reis
3. Real wages and relative factor prices around the Mediterranean 1500-1940. Jeffrey G. Williamson
4. European economic development: The core and the Southern periphery 1870-1910 James Foreman-Peck and Pedro Lains
Part III. Long Run Growth: Country Studies
5. Growth and retardation in Ottoman Macedonia 1880-1910 Ahmed Akarli
6. The choice of technology: Spanish, Italian, British and US cotton mills compared 1830-1860. Joan Ramon Roses
Part IV. Trade, Transport and Domestic Production in the Century Before WWII
7. Specialization in the international market for olive oil before WWII. Ramon Ramon-Munoz
8. International competition and the developoment of the dried fruit industry 1880-1930. Jose Morilla-Critz, Alan Olmstead and Paul Rhode
9. International shipping in the Eastern Mediterranean and the Black Sea: Istanbul as a maritime center 1870-1910. Gelina Harlaftis and Vassilis Kardasis
Part V. Pre-1914 Policy Choices and the Political Economy of Growth
10. Much Ado About Nothing? Italian trade policy in late 19th century. Giovanni Federico and Kevin H. O'Rourke
11. What slowed down the mass emigration from Spain before WWII? A comparison with Italy. Blanca Sanchez-Alonso
Part VI: Interwar Policy Choices and the Political Economy of Growth
12. Intervention during the Great Depression: another look at Turkish experience. Sevket Pamuk
13. Egyptian commodity markets in the age of economic liberalism. Tarik Yousef
Part VII Twentieth Century Palestine
14. Economic growth and external trade in mandatory Palestine: a special Mediterranean case. Jacob Metzer

This volume of papers from the Eighth World Congress deals with changes in proportions and growth rates of sectors of the economy in relation to economic development. It includes a survey of theories of sectoral balance and studies of structural transformation in the Kuznets tradition but with richer economometric models and data on more than 100 countries over several decades. There are in-depth country analyses of India, Korea and Nigeria and for Eastern Europe, the GDR and Hungary. In the last part of the volume the link between agriculture and industry is studied in terms of the importance of rural non-farm activities, the effectiveness of balanced growth and of an agriculture-led development strategy. A wide range of data is examined with one chapter focusing particularly on Japan. Jeffrey Williamson has also written "Modelling Growth Economics in Equilibrium and Disequilibrium" with A.Kelley and "Did British Capitalism Breed Inequality". Amongst his other publications, Vadiraj Panchamukhi has written "Trade Policies in India: A Case Study of Karnataka, Capital Formation and Output in the Third World" and "Planning, Development and World Economic Order".

Unequal Gains offers a radically new understanding of the economic evolution of the United States, providing a complete picture of the uneven progress of America from colonial times to today. While other economic historians base their accounts on American wealth, Peter Lindert and Jeffrey Williamson focus instead on income--and the result is a bold reassessment of the American economic experience. America has been exceptional in its rising inequality after an egalitarian start, but not in its long-run growth. America had already achieved world income leadership by 1700, not just in the twentieth century as is commonly thought. Long before independence, American colonists enjoyed higher living standards than Britain--and America's income advantage today is no greater than it was three hundred years ago. But that advantage was lost during the Revolution, lost again during the Civil War, and lost a third time during the Great Depression, though it was regained after each crisis. In addition, Lindert and Williamson show how income inequality among Americans rose steeply in two great waves--from 1774 to 1860 and from the 1970s to today--rising more than in any other wealthy nation in the world. Unequal Gains also demonstrates how the widening income gaps have always touched every social group, from the richest to the poorest. The book sheds critical light on the forces that shaped American income history, and situates that history in a broad global context. Economic writing at its most stimulating, Unequal Gains provides a vitally needed perspective on who has benefited most from American growth, and why.

Unequal Gains offers a radically new understanding of the economic evolution of the United States, providing a complete picture of the uneven progress of America from colonial times to today. While other economic historians base their accounts on American wealth, Peter Lindert and Jeffrey Williamson focus instead on income--and the result is a bold reassessment of the American economic experience. America has been exceptional in its rising inequality after an egalitarian start, but not in its long-run growth. America had already achieved world income leadership by 1700, not just in the twentieth century as is commonly thought. Long before independence, American colonists enjoyed higher living standards than Britain--and America's income advantage today is no greater than it was three hundred years ago. But that advantage was lost during the Revolution, lost again during the Civil War, and lost a third time during the Great Depression, though it was regained after each crisis. In addition, Lindert and Williamson show how income inequality among Americans rose steeply in two great waves--from 1774 to 1860 and from the 1970s to today--rising more than in any other wealthy nation in the world. Unequal Gains also demonstrates how the widening income gaps have always touched every social group, from the richest to the poorest. The book sheds critical light on the forces that shaped American income history, and situates that history in a broad global context. Economic writing at its most stimulating, Unequal Gains provides a vitally needed perspective on who has benefited most from American growth, and why.

The second volume of The Cambridge History of Capitalism provides an authoritative reference on the spread and impact of capitalism across the world, and the varieties of responses to it. Employing a wide geographical coverage and strong comparative outlook, a team of leading scholars explore the global consequences that capitalism has had for industry, agriculture, and trade, along with the reactions by governments, firms, and markets. The authors consider how World War I halted the initial spread of capitalism, but global capitalism arose again by the close of the twentieth century. They explore how the responses of labor movements, compounded by the reactions by political regimes, whether defensive or proactive, led to diverse military and welfare consequences. Beneficial results eventually emerged, but the rise and spread of capitalism has not been easy or smooth. This definitive volume will have widespread appeal amongst historians, economists, and political scientists.

How the rise of globalization over the past two centuries helps explain the income gap between rich and poor countries today. Today's wide economic gap between the postindustrial countries of the West and the poorer countries of the third world is not new. Fifty years ago, the world economic order-two hundred years in the making-was already characterized by a vast difference in per capita income between rich and poor countries and by the fact that poor countries exported commodities (agricultural or mineral products) while rich countries exported manufactured products. In Trade and Poverty, leading economic historian Jeffrey G. Williamson traces the great divergence between the third world and the West to this nexus of trade, commodity specialization, and poverty. Analyzing the role of specialization, de-industrialization, and commodity price volatility with econometrics and case studies of India, Ottoman Turkey, and Mexico, Williamson demonstrates why the close correlation between trade and poverty emerged. Globalization and the great divergence were causally related, and thus the rise of globalization over the past two centuries helps account for the income gap between rich and poor countries today.

In this study, Jeffrey G. Williamson examines the political economy of immigration backlash and immigration policy in two global centuries. The first, between 1820 and World War I, was a proglobal environment, characterized by booming trade, labor, and capital markets. It was followed by an antiglobal and autarchic retreat between 1914 and 1950. Williamson finds that the second global century has moved to reclaim world integration in trade and capital markets, but immigration policy in high-wage countries has not tried to reclaim an open stance.

The first volume of The Cambridge History of Capitalism provides a comprehensive account of the evolution of capitalism from its earliest beginnings. Starting with its distant origins in ancient Babylon, successive chapters trace progression up to the 'Promised Land' of capitalism in America. Adopting a wide geographical coverage and comparative perspective, the international team of authors discuss the contributions of Greek, Roman, and Asian civilizations to the development of capitalism, as well as the Chinese, Indian and Arab empires. They determine what features of modern capitalism were present at each time and place, and why the various precursors of capitalism did not survive. Looking at the eventual success of medieval Europe and the examples of city-states in northern Italy and the Low Countries, the authors address how British mercantilism led to European imitations and American successes, and ultimately, how capitalism became global.

Late Nineteenth-Century American Development is an economist's attempt to interpret a critical period of US history, from Civil War to World War I. The questions raised have always been at the heart of American historiography. What accounts for the retardation up to the turn of the century? How did capital markets operate and what was their influence on the pace and pattern of our growth? What determined farm performance and what impact did that performance have on the economy as a whole? Yet while the questions raised in this book are familiar, the methods are not. This book blends traditional historical analysis with general equilibrium theory, modern macroeconomics and simulation analysis. The result is a provocative book of remarkable scope which offers a fresh interpretation of late nineteenth-century American growth.

Coping With City Growth assesses British performance with city growth during the First Industrial Revolution by combining the tools used by Third World analysts with the archival attention and eclectic style of the economic historian. What emerges is an exciting and provocative new account of a very old problem. The debate over Third World city growth is hardly new, and can be found in the British Parliamentary Papers as early as the 1830s, in treatises by political economists, and in the British Press. This book should change the way urban history is written in the future and influence the way we think about contemporary Third World cities.

Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914-the first great globalization boom, which anticipated the experience of the last fifty years. Globalization is not a new phenomenon, nor is it irreversible. In Gobalization and History, Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914-the first great globalization boom, which anticipated the experience of the last fifty years. The authors estimate the extent of globalization and its impact on the participating countries, and discuss the political reactions that it provoked. The book's originality lies in its application of the tools of open-economy economics to this critical historical period-differentiating it from most previous work, which has been based on closed-economy or single-sector models. The authors also keep a close eye on globalization debates of the 1990s, using history to inform the present and vice versa. The book brings together research conducted by the authors over the past decade-work that has profoundly influenced how economic history is now written and that has found audiences in economics and history, as well as in the popular press.

Two of the world's leading economists, Philippe Aghion (a theorist) and Jeffrey Williamson (an economic historian), jointly question the conventional wisdom on inequality and growth, and address its inability to explain recent economic experience. Aghion assesses the effects of inequality on growth, and asks whether inequality matters: is excessive inequality bad for growth, and is it possible to reconcile aggregate findings with microeconomic theories of incentives? Jeffrey Williamson then discusses the Kuznets hypothesis, and focuses on the causes of wage and income inequality in developed economies.

Coping with City Growth assesses Britain's handling of city growth during the First Industrial Revolution by combining the tools used by Third World analysts with the archival attention and eclectic style of the economic historian. What emerges is an exciting and provocative accounts that have long occupied problem development economists: urban unemployment, underemployment, and the alleged failure of city labour markets to absorb the flood of rural emigrants; the persistent influx of newcomers, which makes it difficult for municipal planners to improve the quality of social overhead; the crowding of migrants into densely packed urban slums with few, if any, social services; and rising density and city size which augment pollution while lowering the quality of the urban environment.

The second volume of The Cambridge History of Capitalism provides an authoritative reference on the spread and impact of capitalism across the world, and the varieties of responses to it. Employing a wide geographical coverage and strong comparative outlook, a team of leading scholars explore the global consequences that capitalism has had for industry, agriculture, and trade, along with the reactions by governments, firms, and markets. The authors consider how World War I halted the initial spread of capitalism, but global capitalism arose again by the close of the twentieth century. They explore how the responses of labor movements, compounded by the reactions by political regimes, whether defensive or proactive, led to diverse military and welfare consequences. Beneficial results eventually emerged, but the rise and spread of capitalism has not been easy or smooth. This definitive volume will have widespread appeal amongst historians, economists, and political scientists.

The first volume of The Cambridge History of Capitalism provides a comprehensive account of the evolution of capitalism from its earliest beginnings. Starting with its distant origins in ancient Babylon, successive chapters trace progression up to the 'Promised Land' of capitalism in America. Adopting a wide geographical coverage and comparative perspective, the international team of authors discuss the contributions of Greek, Roman and Asian civilizations to the development of capitalism, as well as the Chinese, Indian and Arab empires. They determine what features of modern capitalism were present at each time and place, and why the various precursors of capitalism did not survive. Looking at the eventual success of medieval Europe and the examples of city-states in northern Italy and the Low Countries, the authors address how British mercantilism led to European imitations and American successes, and ultimately, how capitalism became global.

Two of the world's leading economists, Philippe Aghion (a theorist) and Jeffrey Williamson (an economic historian), jointly question the conventional wisdom on inequality and growth, and address its inability to explain recent economic experience. Aghion assesses the effects of inequality on growth, and asks whether inequality matters: is excessive inequality bad for growth, and is it possible to reconcile aggregate findings with microeconomic theories of incentives? Jeffrey Williamson then discusses the Kuznets hypothesis, and focuses on the causes of wage and income inequality in developed economies.

Between 1850 and 1914 about 55 million Europeans migrated to the New World including North and South America, and Australia. This movement marked a profound shift in global population and economic activity. The authors describe this phenomenon and analyse the effects that underlie it.