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The Visionary Realism of German Economics forms a collection of Erik S. Reinert’s essays bringing the more realistic German economic tradition into focus as an alternative to Anglo-Saxon neoclassical mainstream economics. Together the essays form a holistic theory explaining why economic development—by its very nature—is a very uneven process. Herein lie the important policy implications of the volume.
In contrast to neo-classical mainstream approaches to economics, this innovative Modern Guide addresses the complex reality of economic development as an inherently uneven process, exploring the ways of theorizing and empirically exploring the mechanisms with which the unevenness manifests itself. It covers a wide array of issues influencing wealth and poverty, technological innovation, ecology and sustainability, financialization, population, gender, and geography, considering the dynamics of cumulative causations created by the interplay between these factors.
‘Commerce and manufactures gradually introduced order and good government,’ wrote Adam Smith in his Wealth of Nations, ‘and with them, the liberty and security of individuals.’ However, Philipp Robinson Rössner shows how, when looked at in the face of history, it has usually been the other way around. This book follows the development of capitalism from the Middle Ages through the industrial revolution to the modern day, casting new light on the areas where premodern political economies of growth and development made a difference. It shows how order and governance provided the foundation for prosperity, growth and the wealth of nations. Written for scholars and students of economic history, this is a pioneering new study that debunks the neoliberal origin myth of how capitalism came into the world.
Nationalists think about the economy, Marvin Suesse argues, and this thinking matters once nationalists hold political power. Many nationalists seek to limit global exchange, but others prioritise economic development. The potential conflict between these two goals shapes nationalist policy making. Drawing on historical case studies from thirty countries – from the American Revolution to the rise of China – this book paints a broad panorama of economic nationalism over the past 250 years. It explains why such thinking has become influential, despite the internal contradictions and chequered record of many nationalist policy makers. At the root of economic nationalism's appeal is its ability to capitalise upon economic inequality, both domestic and international. These inequalities are reinforced by political factors such as empire building, ethnic conflicts, and financial crises. This has given rise to powerful nationalist movements that have decisively shaped the global exchange of goods, people, and capital.
Other Canon Economics: Essays in the Theory and History of Uneven Economic Development brings together key essays on development economics from one of the most prolific and important development economists and historians of economic policy today. Erik S. Reinert argues through essays ranging from 1994 to 2020 that neo-classical economics damages developing countries, mostly via adherence to the theory of comparative advantage. Based on a long intellectual tradition, started by the Italian economists Giovanni Botero (1589) and Antonio Serra (1613), Reinert shows that the country which trades increasing returns goods – e.g. high-end manufacture – has advantages over the country which trades diminishing returns goods – e.g. commodities. This has important implications for today’s development strategies that, Reinert argues, should be seen as industrial strategies.
The book focuses on methodology, argument and context of 18th century philosopher Christian Wolff's last book, the Oeconomica. This work, a rationalist guide to household morality, is discussed in conjunction with Wolff's natural law-based welfare state theory. A case study at a cross-section of philosophy, political science and history, it dissects the ideological conflation of private and public interest in the absolutist state.
This book aims to inform better energy policy in hydropower dependent countries which are vulnerable to climate shocks. It focuses on the impact of increasing energy insecurity as global warming affects a fifth of the world population living in hydropower dependent countries facing drought. It uses Zambia as a case study. The book offers supply-side and demand-side recommendations at the national, continental, and global level and contains original data collected to highlight the impact of power outages on manufacturing firms.
This book hinges upon ideas and discourses variously known under labels such as “Mercantilism” and “Cameralism”. Often viewed as antithesis of capitalism, inclusive institutions and good economy in the “West”, this book re-assembles them and builds them into a coherent origin story of modern capitalism. It explores the field of intellectual and conceptual history, especially the history of Renaissance and Mercantilism in a longer history of capitalism. Rather than hindrances, the author argues that Mercantilist and Cameralist political economies presented essential stepping stones of modern capitalism, in Britain and beyond. This book will be of interest to academics and students in general economic history, the history of capitalism, economic development and the history of economic thought.
At a time when critiques of free trade policies are gaining currency, The Neomercantilists helps make sense of the protectionist turn, providing the first intellectual history of the genealogy of neomercantilism. Eric Helleiner identifies many pioneers of this ideology between the late eighteenth and early twentieth centuries who backed strategic protectionism and other forms of government economic activism to promote state wealth and power. They included not just the famous Friedrich List, but also numerous lesser-known thinkers, many of whom came from outside of the West. Helleiner's novel emphasis on neomercantilism's diverse origins challenges traditional Western-centric understandings of its history. It illuminates neglected local intellectual traditions and international flows of ideas that gave rise to distinctive varieties of the ideology around the globe, including in Latin America, the Caribbean, Africa, and Asia. This rich history left enduring intellectual legacies, including in the two dominant powers of the contemporary world economy: China and the United States. The result is an exceptional study of a set of profoundly influential economic ideas. While rooted in the past, it sheds light on the present moment. The Neomercantilists shows how we might construct more global approaches to the study of international political economy and intellectual history, devoting attention to thinkers from across the world, and to the cross-border circulation of thought.
This ambitious collection follows the evolution of capitalism from its origins in 13th-century European towns to its 16th-century expansion into Asia, Africa and South America and on to the global capitalism of modern day. Written by distinguished historians and social scientists, the chapters examine capitalism and its critics and the level of variation and convergence in its operation across locations. The authors illuminate the aspects of capitalism that have encouraged, but also limited, social responsibility and environmental sustainability. Covering times, places and topics that have often been overlooked in the existing literature, this important contribution to the field of economic history charts the most comprehensive chronology of capitalism to date.