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This book considers the impact of slavery and Atlantic trade on British economic development in the generations between the restoration of the Stuart monarchy and the era of the Younger Pitt. During this period Britain's trade became 'Americanised' and industrialisation began to occur in the domestic economy. The slave trade and the broader patterns of Atlantic commerce contributed important dimensions of British economic growth although they were more significant for their indirect, qualitative contribution than for direct quantitative gains. Kenneth Morgan investigates five key areas within the topic that have been subject to historical debate: the profits of the slave trade; slavery, capital accumulation and British economic development; exports and transatlantic markets; the role of business institutions; and the contribution of Atlantic trade to the growth of British ports. This stimulating and accessible book provides essential reading for students of slavery and the slave trade, and British economic history.
A sweeping history of early American trade and the foundation of the American economy In a single, readily digestible, coherent narrative, historian Thomas M. Truxes presents the three hundred–year history of the overseas trade of British America. Born from seeds planted in Tudor England in the sixteenth century, Atlantic trade allowed the initial survival, economic expansion, and later prosperity of British America, and brought vastly different geographical regions, each with a distinctive identity and economic structure, into a single fabric. Truxes shows how colonial American prosperity was only possible because of the labor of enslaved Africans, how the colonial economy became dependent on free and open markets, and how the young United States owed its survival in the struggle of the American Revolution to Atlantic trade.
263 letters written by or to William Jardine and James Matheson... covers a period of rapid growth for Jardine, Matheson & Co, from 1827 when the founders first joined forces, to Jardine's death in 1843, shortly after the end of the Opium War
The British Book Trade and Spanish American Independence is a pioneering study of the export of books from Britain to early-independent Spanish America, which considers all phases of production, distribution, reading, and re-writing of British books in the region, and explores the role that these works played in the formation of national identities in the new countries. Analysing in particular the publishing house of Rudolph Ackermann, which dominated the export of British books in Spanish to the former colonies in the 1820s, it discusses the ways in which the printed form of these publications affected the knowledge conveyed by them. After a survey of the peculiar characteristics of print culture in early-independent Spanish America and the trends in the import of European books in the region, the author examines the operation of Ackermann's publishing enterprise. She shows how the collaborative nature of this enterprise, involving a number of Spanish American diplomats as sponsors and Spanish exiles as writers and translators, shaped the characteristics of its publications, and how the notion of 'useful knowledge' conveyed by them was deployed in the service of both commercial and educational concerns. The hitherto unexplored mechanisms of book import, distribution, wholesale and retailing in Spanish America in the 1820s are also analysed as is the way in which the significance of the knowledge transmitted by those books shifted in the course of their production and distribution. The author examines how the question-and-answer form of Ackermann's textbooks constrained both publishers and writers and oriented their readers' relation with the texts. She then looks at the various ways in which foreign knowledge was appropriated in the construction of individual, social, national, and continental identities; this is done through the study of a number of individual reading experiences and through the analysis of the editions and adaptations of Ackermann's textbooks during the nineteenth century.
A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
In this classic analysis and refutation of Eric Williams's 1944 thesis, Seymour Drescher argues that Britain's abolition of the slave trade in 1807 resulted not from the diminishing value of slavery for Great Britain but instead from the British public's mobilization against the slave trade, which forced London to commit what Drescher terms "econocide." This action, he argues, was detrimental to Britain's economic interests at a time when British slavery was actually at the height of its potential. Originally published in 1977, Drescher's work was instrumental in undermining the economic determinist interpretation of abolitionism that had dominated historical discourse for decades following World War II. For this second edition, which includes a foreword by David Brion Davis, Drescher has written a new preface, reflecting on the historiography of the British slave trade since this book's original publication.
International trade has shaped the modern world, yet until now no single book has been available for both economists and general readers that traces the history of the international economy from its earliest beginnings to the present day. Power and Plenty fills this gap, providing the first full account of world trade and development over the course of the last millennium. Ronald Findlay and Kevin O'Rourke examine the successive waves of globalization and "deglobalization" that have occurred during the past thousand years, looking closely at the technological and political causes behind these long-term trends. They show how the expansion and contraction of the world economy has been directly tied to the two-way interplay of trade and geopolitics, and how war and peace have been critical determinants of international trade over the very long run. The story they tell is sweeping in scope, one that links the emergence of the Western economies with economic and political developments throughout Eurasia centuries ago. Drawing extensively upon empirical evidence and informing their systematic analysis with insights from contemporary economic theory, Findlay and O'Rourke demonstrate the close interrelationships of trade and warfare, the mutual interdependence of the world's different regions, and the crucial role these factors have played in explaining modern economic growth. Power and Plenty is a must-read for anyone seeking to understand the origins of today's international economy, the forces that continue to shape it, and the economic and political challenges confronting policymakers in the twenty-first century.
Debates about the origins and effects of European rule in the non-European world have animated the field of economic history since the 1850s. This pioneering text provides a concise and accessible resource that introduces key readings, builds connections between ideas and helps students to develop informed views of colonialism as a force in shaping the modern world. With special reference to European colonialism of the nineteenth and twentieth centuries in both Asia and Africa, this book: • critically reviews the literature on colonialism and economic growth; • covers a range of different methods of analysis; • offers a comparative approach, as opposed to a collection of regional histories, deftly weaving together different themes. With debates around globalization, migration, global finance and environmental change intensifying, this authoritative account of the relationship between colonialism and economic development makes an invaluable contribution to several distinct literatures in economic history.
This book assesses developmental experience in different countries as well as British expansion following the industrial revolution from a developmental perspective. It explains why some nations are rich and others are poor, and discusses how manufacturing made economies flourish and spur economic development. It explains how today’s governments can design and implement industrial policy, and how they can determine economically strategic sectors to break out of Low and Middle Income Traps. Closely linked to global trade and (im)balances, industrialization was never an accident. Industrialization explains how some countries experience export-led growth and others import-led slowdowns. Many confuse industrialization with the construction of factory buildings rather than a capacity and skill building process through certain stages. Industrial policy helps countries advance through those stages. Explaining technical concepts in understandable terms, the book discusses the capacity and limits of the developmental state in industrialization and in general in economic development, demonstrating how picking-the-winner type focused industrial policy has worked in different countries. It also discusses how industrial policy and science, technology and innovation policies should be sequenced for best results.