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Reconsiders the centrality and legacy of Hume’s economic thought and serves as an important springboard for reflections on the philosophical underpinnings of economics. Although David Hume’s contributions to philosophy are firmly established, his economics has been largely overlooked. A Philosopher’s Economist offers the definitive account of Hume’s “worldly philosophy” and argues that economics was a central preoccupation of his life and work. Margaret Schabas and Carl Wennerlind show that Hume made important contributions to the science of economics, notably on money, trade, and public finance. Hume’s astute understanding of human behavior provided an important foundation for his economics and proved essential to his analysis of the ethical and political dimensions of capitalism. Hume also linked his economic theory with policy recommendations and sought to influence people in power. While in favor of the modern commercial world, believing that it had and would continue to raise standards of living, promote peaceful relations, and foster moral refinement, Hume was not an unqualified enthusiast. He recognized many of the underlying injustices of capitalism, its tendencies to promote avarice and inequality, as well as its potential for political instability and absolutism. Hume’s imprint on modern economics is profound and far-reaching, whether through his close friend Adam Smith or later admirers such as John Maynard Keynes and Friedrich Hayek. Schabas and Wennerlind’s book compels us to reconsider the centrality and legacy of Hume’s economic thought—for both his time and ours—and thus serves as an important springboard for reflections on the philosophical underpinnings of economics.
This volume takes a fresh and innovative approach to the history of ideas of work, concerning perceptions, attitudes, cultures and representations of work throughout Antiquity and the medieval and early modern periods. Focusing on developments in Europe, the contributors approach the subject from a variety of angles, considering aspects of work as described in literature, visual culture, and as perceived in economic theory. As well as external views of workers the volume also looks at the meaning of work for the self-perception of various social groups, including labourers, artisans, merchants, and noblemen, and the effects of this on their self-esteem and social identity. Taking a broad chronological approach to the subject provides readers with a cutting-edge overview of research into the varying attitudes to work and its place in pre-industrial society.
This monumental study demonstrates the power of culture to define the meaning of labor. Drawing on massive archival evidence from Britain and Germany, as well as historical evidence from France and Italy, The Fabrication of Labor shows how the very nature of labor as a commodity differed fundamentally in different national contexts. A detailed comparative study of German and British wool textile mills reveals a basic difference in the way labor was understood, even though these industries developed in the same period, used similar machines, and competed in similar markets. These divergent definitions of the essential character of labor as a commodity influenced the entire industrial phenomenon, affecting experiences of industrial work, methods of remuneration, disciplinary techniques, forms of collective action, and even industrial architecture. Starting from a rigorous analysis of detailed archival materials, this study broadens out to analyze the contrasting developmental pathways to wage labor in Western Europe and offers a startling reinterpretation of theories of political economy put forward by Adam Smith and Karl Marx. In his brilliant cross-national study, Richard Biernacki profoundly reorients the analysis of how culture constitutes the very categories of economic life. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1996.
On the History of Economic Thought is introduced by an essay in intellectual autobiography outlining the development of Coats key ideas and the distinctive elements of his approach. Two themes in particular emerge. The first is the difference between British and American economics, both in content and in the practice of the profession. This is an important element in all areas of his research. The second theme is in the interrelationships between economic ideas, events (or conditions) and policy issues. The book concludes by offering an assessment of the current state of the discipline indicating the advantages an historian of economics can offer as a commentator on recent developments.
This book discloses the economic foundations of European fiscal and monetary policies by introducing readers to an array of alternative approaches in economics. It presents various heterodox theories put forward by classical economists, Marx, Sraffa and Keynes, as a coherent challenge to neo-classical theory. The book underscores and critically assesses the analytical inconsistencies of European economic policy and the conservative nature of the current European governance. In this light, it examines the political obstacles to proposals to reform the European monetary union, as well as those originating in the neo-mercantilist German model. Given its scope and format, the book offers a valuable asset for researchers and members of the general public alike.
William Petty (1623-1687) was a key figure in the English colonization of Ireland, the institutionalization of experimental natural philosophy, and the creation of social science. Examining Petty's intellectual development and his invention of 'political arithmetic' against the backdrop of the European scientific revolution and the political upheavals of Interregnum and Restoration England and Ireland, this book provides the first comprehensive intellectual biography of Petty based on a thorough examination not only of printed sources but also of Petty's extensive archive and pattern of manuscript circulation. It is also the first fully contextualized study of what political arithmetic - widely seen as an ancestor of modern social and economic analysis - was originally intended to do. Ted McCormick traces Petty's education among French Jesuits and Dutch Cartesians, his early work with the 'Hartlib Circle' of Baconian natural philosophers, inventors, and reformers in England, his involvement in the Cromwellian conquest and settlement of Ireland, and his engagement with both science and the politics of religion in the Restoration. He argues that Petty's crowning achivement, political arithmetic, was less a new way of analysing economy or society than a new 'instrument of government' that applied elements of the new science - a mechanical worldview, a corpuscularian theory of matter, and a Baconian stress on empirical method and the transformative purposes of natural philosophy - to the creation of industrious and loyal populations. Finally, he examines the transformation Petty's program of social engineering, after his death, into an apparently apolitical form of statistical reasoning.
Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
Authorities ranging from philosophers to politicians nowadays question the existence of concepts of society, whether in the present or the past. This book argues that social concepts most definitely existed in late medieval and early modern England, laying the foundations for modern models of society. The book analyzes social paradigms and how they changed in the period. A pervasive medieval model was the "body social," which imagined a society of three estates – the clergy, the nobility, and the commonalty – conjoined by interdependent functions, arranged in static hierarchies based upon birth, and rejecting wealth and championing poverty. Another model the book describes as "social humanist," that fundamentally questioned the body social, advancing merit over birth, mobility over stasis, and wealth over poverty. The theory of the body social was vigorously articulated between the 1480s and the 1550s. Parts of the old metaphor actually survived beyond 1550, but alternative models of social humanist thought challenged the body concept in the period, advancing a novel paradigm of merit, mobility, and wealth. The book’s methodology focuses on the intellectual context of a variety of contemporary texts.
Peter Linebaugh's groundbreaking history has become an inescapable part of any understanding of the rise of capitalism. In eighteenth-century London the spectacle of a hanging was not simply a form of punishing transgressors. Rather it evidently served the most sinister purpose-for a prvileged ruling class-of forcing the poor population of London to accept the criminalization of customary rights and the new forms of private property. Necessity drove the city's poor into inevitable conflict with the changing property laws, such that all the working-class men and women of London had good reason to fear the example of Tyburn's Triple Tree. In this new edition Peter Linebaugh reinforces his original arguments with responses to his critics based on an impressive array of historical sources. As the trend of capital punishment intensifies with the spread of global capitalism, The London Hanged also gains in contemporary relevance.