This book explores the changing boundaries and relationships between market and state from the seventeenth to the twentieth century. Money and Markets celebrates Martin Daunton's distinguished career by bringing together essays from leading economic, social and cultural historians, many being colleagues and former students. Throughout his career, Dauntonhas focused on the relationship between structure and agency, how institutional structures create capacities and path dependencies, and how institutions are themselves shaped by agency and contingency - what Braudel referred to as 'turning the hour glass twice'. This volume reflects that focus, combining new research on the financing of the British fiscal-military state before and during the Napoleonic wars, its property institutions, and thelonger-term economic consequences of Sir Robert Peel. There are also chapters on the birth of the Eurodollar market, Conservative fiscal policy from the 1960s to the 1980s, the impact of neoliberalism on welfare policy and more broadly, the failed attempt to build an airport in the Thames Estuary in the 1970s, and the political economy of time in Britain since 1945. While much of the focus is on Britain, and British finance in a global economy, the volumealso reflects Daunton's more recent study of international political economy with essays on the French contribution to nineteenth-century globalization, Prussian state finances at the time of the 1848 revolution, Imperial German monetary policy, the role of international charity in the mixed economy of welfare and neoliberal governance, and the material politics of energy consumption from the 1930s to the 1960s. JULIAN HOPPIT is Astor Professor of British History at University College London. ADRIAN LEONARD is Associate Director of the Centre for Financial History at the University of Cambridge. DUNCAN NEEDHAM is Dean and Senior Tutor at Darwin College, University of Cambridge. CONTRIBUTORS: Martin Chick, Sean Eddie, Matthew Hilton, Julian Hoppit, Seung-Woo Kim, Adrian Leonard, Duncan Needham, Charles Read, Bernhard Rieger, Richard Rodger, Sabine Schneider, HirokiShin, David Todd, James Tomlinson, Frank Trentmann, Adrian Williamson

The Glorious Revolution of 1688-9 transformed the role of parliament in Britain and its empire. Large numbers of statutes resulted, with most concerning economic activity. Julian Hoppit here provides the first comprehensive account of these acts, revealing how government affected economic life in this critical period prior to the Industrial Revolution, and how economic interests across Britain used legislative authority for their own benefit. Through a series of case studies, he shows how ideas, interests, and information influenced statutory action in practice. Existing frameworks such as 'mercantilism' and the 'fiscal-military state' fail to capture the full richness and structural limitations of how political power influenced Britain's precocious economic development in the period. Instead, finely grained statutory action was the norm, guided more by present needs than any grand plan, with regulatory ambitions constrained by administrative limitations, and some parts of Britain benefiting much more than others.

This major study considers bankruptcy in eighteenth-century England. Typically, business enterprise in this period has been seen as a success story - where men like Boulton, Watt, Wedgwood and Arkwright helped to forge the Industrial Revolution. But this is a myth, for thousands of businesses failed, hounded by their creditors into bankruptcy and ignominy. This book charts their history by looking at the incidence and causes of bankruptcy and by examining contemporary reactions to these. In this way, not only is evidence produced to improve our understanding of the nature of business enterprise, but the dynamics of the eighteenth-century economy over both the short and the long term are uncovered.

'An invaluable primer to some of the underlying tensions behind contemporary political debate' Financial Times It has always been an important part of British self-image to see the United Kingdom as an ancient, organic and sensibly managed place, in striking contrast to the convulsions of other European countries. Yet, as Julian Hoppit makes clear in this fascinating and surprising book, beneath the complacent surface the United Kingdom has in fact been in a constant, often very tense argument with itself about how it should be run and, most significantly, who should pay for what. The book takes its argument from an eighteenth century cartoon which shows the central state as the 'Dreadful Monster', gorging itself at the dinner table on all the taxes it can grab. Meanwhile the 'Poor Relations' - Scotland, Wales and Ireland, both poor because of tax but also poor in the sense of needing special treatment - are viewed in London as an endless 'drain on the state'. With drastically different levels of prosperity, population, industry, agriculture and accessibility between the United Kingdom's different nations, what is a fair basis for paying for the state?

This book provides an authoritative general view of England between the Glorious Revolution and the deathS of George I and Isaac Newton. It is a very wide-ranging survey, looking at politics, religion, economy, society, and culture. It also places England in its British, European, and world contexts. An annotated bibliography provides a guide through a vast minefield of secondary literature.

This book provides an authoritative general view of England between the Glorious Revolution and the death of George I and Isaac Newton. It is a very wide ranging survey, looking at politics, religion, economy, society, and culture. It also places England in its British, European, and world contexts. An annotated bibliography provides a guide through a vast minefield of secondary literature.

The Glorious Revolution of 1688-9 transformed the role of parliament in Britain and its empire. Large numbers of statutes resulted, with most concerning economic activity. Julian Hoppit here provides the first comprehensive account of these acts, revealing how government affected economic life in this critical period prior to the Industrial Revolution, and how economic interests across Britain used legislative authority for their own benefit. Through a series of case studies, he shows how ideas, interests, and information influenced statutory action in practice. Existing frameworks such as 'mercantilism' and the 'fiscal-military state' fail to capture the full richness and structural limitations of how political power influenced Britain's precocious economic development in the period. Instead, finely grained statutory action was the norm, guided more by present needs than any grand plan, with regulatory ambitions constrained by administrative limitations, and some parts of Britain benefiting much more than others.