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References to the economy are ubiquitous in modern life, and virtually every facet of human activity has capitulated to market mechanisms. In the early modern period, however, there was no common perception of the economy, and discourses on money, trade, and commerce treated economic phenomena as properties of physical nature. Only in the early nineteenth century did economists begin to posit and identify the economy as a distinct object, divorcing it from natural processes and attaching it exclusively to human laws and agency. In The Natural Origins of Economics, Margaret Schabas traces the emergence and transformation of economics in the eighteenth and nineteenth centuries from a natural to a social science. Focusing on the works of several prominent economists—David Hume, Adam Smith, Thomas Malthus, David Ricardo, and John Stuart Mill—Schabas examines their conceptual debt to natural science and thus locates the evolution of economic ideas within the history of science. An ambitious study, The Natural Origins of Economics will be of interest to economists, historians, and philosophers alike.
Why Enlightenment culture sparked the Industrial Revolution During the late eighteenth century, innovations in Europe triggered the Industrial Revolution and the sustained economic progress that spread across the globe. While much has been made of the details of the Industrial Revolution, what remains a mystery is why it took place at all. Why did this revolution begin in the West and not elsewhere, and why did it continue, leading to today's unprecedented prosperity? In this groundbreaking book, celebrated economic historian Joel Mokyr argues that a culture of growth specific to early modern Europe and the European Enlightenment laid the foundations for the scientific advances and pioneering inventions that would instigate explosive technological and economic development. Bringing together economics, the history of science and technology, and models of cultural evolution, Mokyr demonstrates that culture—the beliefs, values, and preferences in society that are capable of changing behavior—was a deciding factor in societal transformations. Mokyr looks at the period 1500–1700 to show that a politically fragmented Europe fostered a competitive "market for ideas" and a willingness to investigate the secrets of nature. At the same time, a transnational community of brilliant thinkers known as the “Republic of Letters” freely circulated and distributed ideas and writings. This political fragmentation and the supportive intellectual environment explain how the Industrial Revolution happened in Europe but not China, despite similar levels of technology and intellectual activity. In Europe, heterodox and creative thinkers could find sanctuary in other countries and spread their thinking across borders. In contrast, China’s version of the Enlightenment remained controlled by the ruling elite. Combining ideas from economics and cultural evolution, A Culture of Growth provides startling reasons for why the foundations of our modern economy were laid in the mere two centuries between Columbus and Newton.
A comprehensive analysis of economic transition between the later Roman empire and Charlemagne's reigne.
Tying America's past to the economic policies of today and beyond, HISTORY OF THE AMERICAN ECONOMY, 11e, INTERNATIONAL EDITION presents events chronologically for easy understanding. Get a firm foundation in the evolution of the American economy with this ever-popular classic.
A sweeping history that tracks the development of trade and industry across the world, from Ancient Rome to today. From the development of international trade fairs in the twelfth century to the innovations made in China, India, and the Arab world, it turns out that historical economies were much more sophisticated that we might imagine, tied together by webs of credit and financial instruments much like our modern economy. Here, Philip Coggan takes us from the ancient mountains of North Wales through Grand Central station and the great civilizations of Mesopotamia to the factories of Malaysia, showing how changes in agriculture, finance, technology, work, and demographics have driven the progress of human civilization. It's the story of how trade became broader and deeper over thousands of years; how governments have influenced economies, for good or ill; and how societies have repeatedly tried to tame, and harness, finance. More shows how, at every step of our long journey, it was the connection between people that resulted in more trade, more specialization, more freedom, and ultimately, more prosperity.
Focuses on the economic history of the community of Rome from the Iron Age to the early Republic.
This book seeks to identify the forces which explain how and why some parts of the world have grown rich and others have lagged behind. Encompassing 2000 years of history, part 1 begins with the Roman Empire and explores the key factors that have influenced economic development in Africa,Asia, the Americas and Europe. Part 2 covers the development of macroeconomic tools of analysis from the 17th century to the present. Part 3 looks to the future and considers what the shape of the world economy might be in 2030. Combining both the close quantitative analysis for which ProfessorMaddison is famous with a more qualitative approach that takes into account the complexity of the forces at work, this book provides students and all interested readers with a totally fascinating overview of world economic history. Professor Maddison has the unique ability to synthesise vast amountsof information into a clear narrative flow that entertains as well as informs, making this text an invaluable resource for all students and scholars, and anyone interested in trying to understand why some parts of the World are so much richer than others.
Reveals how global trade shaped early modern economic, social and political development, and inaugurated the first era of globalization.
The American economy has provided a level of well-being that has consistently ranked at or near the top of the international ladder. A key source of this success has been widespread participation in political and economic processes. In The Government and the American Economy, leading economic historians chronicle the significance of America’s open-access society and the roles played by government in its unrivaled success story. America’s democratic experiment, the authors show, allowed individuals and interest groups to shape the structure and policies of government, which, in turn, have fostered economic success and innovation by emphasizing private property rights, the rule of law, and protections of individual freedom. In response to new demands for infrastructure, America’s federal structure hastened development by promoting the primacy of states, cities, and national governments. More recently, the economic reach of American government expanded dramatically as the populace accepted stronger limits on its economic freedoms in exchange for the increased security provided by regulation, an expanded welfare state, and a stronger national defense.
This volume offers a snapshot of the resurgent historiography of political economy in the wake of the ongoing global financial crisis, and suggests fruitful new agendas for research on the political-economic nexus as it has developed in the Western world since the end of the Middle Ages. New Perspectives on the History of Political Economy brings together a select group of young and established scholars from a wide variety of disciplinary backgrounds—history, economics, law, and political science—in an effort to begin a re-conceptualization of the origins and history of political economy through a variety of still largely distinct but complementary historical approaches—legal and intellectual, literary and philosophical, political and economic—and from a variety of related perspectives: debt and state finance, tariffs and tax policy, the encouragement and discouragement of trade, merchant communities and companies, smuggling and illicit trades, mercantile and colonial systems, economic cultures, and the history of economic doctrines more narrowly construed. The first decade of the twenty-first century, bookended by 9/11 and a global financial crisis, witnessed the clamorous and urgent return of both 'the political' and 'the economic' to historiographical debates. It is becoming more important than ever to rethink the historical role of politics (and, indeed, of government) in business, economic production, distribution, and exchange. The artefacts of pre-modern and modern political economy, from the fourteenth through the twentieth centuries, remain monuments of perennial importance for understanding how human beings grappled with and overcame material hardship, organized their political and economic communities, won great wealth and lost it, conquered and were conquered. The present volume, assembling some of the brightest lights in the field, eloquently testifies to the rich and powerful lessons to be had from such a historical understanding of political economy and of power in an economic age.