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Nineteenth-century Trenton, New Jersey, was a booming commercial and manufacturing center for iron, rubber, steel cables, machine tools, and pottery. Trenton's golden age lasted until the 1920s, when many local industries were bought out by national companies. The story of the subsequent social, political, and economic decline of Trenton is also the story of twentieth-century urban America. John Cumbler analyzes the decline of Trenton in terms of the transition from civic capitalism to national capitalism.
The question of why empires decline and fall has attracted the attention of historians for centuries, but remains fundamentally unsolved. This unique collection is concerned with the purely economic aspects of decline. It can be observed of empires in the process of decline that their economies are generally faltering. Here the similarities in different cases of economic decline are identified, bearing in mind that individual histories are characterized by important elements of originality. In his introduction, Professor Cipolla points out that improvements in standards of living brought about by a rising economy lead to more and more people demanding to share the benefits. Incomes increase and extravagances develop, as new needs begin to replace those which have been satisfied. Prosperity spreads to neighbouring countries, which may become a threat and force the empire into greater military expenditure. For these and other reasons, public consumption in mature empires has a tendency to rise sharply and outstrip productivity and, in general, empires seem to resist change. The ten articles in this collection, first published in 1970, examine separate cases of economic decline, from Rome and Byzantium to the more recent histories of the Dutch and Chinese empires, and demonstrate both the resemblances and the peculiarly individual characteristics of each case.
This book aims to further an understanding of present day America by exploring counter-hegemony to the rule of capital and offering guidelines for strategizing change proceeding from the dialectic of What Is and What Ought to Be. The author analyzes neoliberal global order and its political expressions through discussions of the dominance of finance capital in the late twentieth century, the triumph of ideology, the closing of avenues to reform, the problem of the captive state, and a sociological analysis of rule by “divide and conquer.” The book concludes with a look at the history of movement politics in culture, arts, economics, and politics. It resounds with a hope that challenges to hegemony can use many paths to change, of which the electoral path is but one of many fronts, in the long-term struggle for radical reform.
Essays by leading scholars present a novel and systematic analysis of the economic difficulties confronting the United States.
A leading political economist advances a new theory to explain the postwar shifts in the relative economic fortunes and positions of various nations and regions.
Innovation, changes in market structure, and changes in income distribution are the forces that drive the general process of economic growth or decline. This is the concept that unifies these essays written between 1954 and 1983 by the noted economist Paolo Sylos-Labini. In each essay as he illuminates some aspect of this concept, Sylos-Labini displays a historical sensibility to theory that distinguishes him from most modern economists. Essays in the first section lay the groundwork for the book by going back to the classical economists, directly and indirectly through Schumpeter. Throughout the rest of the book, Sylos-Labini's explication and appraisal of the theories of Smith, Ricardo, Manx, and Schumpeter concerning innovation, market structure, and income distribution inform his own search for a theoretical model to analyze the process of economic growth and decline in the current stage of modern capitalism's evolution. In the book's second section, essays address innovation and changes in productivity. In the third section, they focus on changes in market structure, exploring the relationship among oligopoly, pricing, inflation, and economic growth. A final section of the book is concerned primarily with the relationship between economic growth and income distribution.
How America's high standard of living came to be and why future growth is under threat In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.
A week before the outbreak of the First World War, an acute financial crisis surged over London: the Stock Exchange closed; money markets worldwide were paralysed. Drawing on diaries, letters, memoirs, press reports, and official archives, this book tells the extraordinary, and largely unknown, story of the first true global financial crisis.
History, Time, and Economic Crisis in Central Greece explores how the inhabitants of a Greek town face the devastating consequences of the worst economic crisis in living memory. Knight examines how the inhabitants draw on the past to contextualize their experiences and build strength that will enable them to overcome their suffering.