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For years, America has been plagued by slow economic growth and increasing inequality. In The Captured Economy, Brink Lindsey and Steven M. Teles identify a common factor behind these twin ills: breakdowns in democratic governance that allow wealthy special interests to capture the policymaking process for their own benefit. They document the proliferation of regressive regulations that redistribute wealth and income up the economic scale while stifling entrepreneurship and innovation. They also detail the most important cases of regulatory barriers that have worked to shield the powerful from the rigors of competition, thereby inflating their incomes: subsidies for the financial sector's excessive risk taking, overprotection of copyrights and patents, favoritism toward incumbent businesses through occupational licensing schemes, and the NIMBY-led escalation of land use controls that drive up rents for everyone else. An original and counterintuitive interpretation of the forces driving inequality and stagnation, The Captured Economy will be necessary reading for anyone concerned about America's mounting economic problems and how to improve the social tensions they are sparking.
The Atlantic Economy during the Seventeenth and Eighteenth Centuries is a collection of essays focusing on the expansion, elaboration, and increasing integration of the economy of the Atlantic basin—comprising parts of Europe, West Africa, and the Americas—during the seventeenth and eighteenth centuries. In thirteen essays, the contributors examine the complex and variegated processes by which markets were created in the Atlantic basin and how they became integrated. While a number of the contributors focus on the economic history of a specific European imperial system, others, mirroring the realities of the world they are writing about, transcend imperial boundaries and investigate topics shared throughout the region. In the latter case, the contributors focus either on processes occurring along the margins or interstices of empires, or on "breaches" in the colonial systems established by various European powers. Taken together, the essays shed much-needed light on the organization and operation of both the European imperial orders of the early modern era and the increasingly integrated economy of the Atlantic basin challenging these orders over the course of the same period.
This collection of essays explores the inter-imperial connections between British, Spanish, Dutch, and French Caribbean colonies, and the 'Old World' countries which founded them. Grounded in primary archival research, the thirteen contributors focus on the ways that participants in the Atlantic World economy transcended imperial boundaries.
Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914—the first great globalization boom, which anticipated the experience of the last fifty years. Globalization is not a new phenomenon, nor is it irreversible. In Gobalization and History, Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914—the first great globalization boom, which anticipated the experience of the last fifty years. The authors estimate the extent of globalization and its impact on the participating countries, and discuss the political reactions that it provoked. The book's originality lies in its application of the tools of open-economy economics to this critical historical period—differentiating it from most previous work, which has been based on closed-economy or single-sector models. The authors also keep a close eye on globalization debates of the 1990s, using history to inform the present and vice versa. The book brings together research conducted by the authors over the past decade—work that has profoundly influenced how economic history is now written and that has found audiences in economics and history, as well as in the popular press.
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This title is suitable for final year undergraduates, postgraduates and academics in the fields of Irish studies, development economics and comparative history.
The Economic Consequences of the Atlantic Slave Trade shows how the West Indian slave/sugar/plantation complex, organized on capitalist principles of private property and profit-seeking, joined the western hemisphere to the international trading system encompassing Europe, Africa, North America, and the Caribbean, and was an important determinant of the timing and pattern of the Industrial Revolution in England. The new industrial economy was no longer dependent on slavery for development, but rested instead on investment and innovation. Solow argues that abolition of the slave trade and emancipation should be understood in this context.
Focusing on the Connecticut River Valley—New England's longest river and largest watershed— Strother Roberts traces the local, regional, and transatlantic markets in colonial commodities that shaped an ecological transformation in one corner of the rapidly globalizing early modern world. Reaching deep into the interior, the Connecticut provided a watery commercial highway for the furs, grain, timber, livestock, and various other commodities that the region exported. Colonial Ecology, Atlantic Economy shows how the extraction of each commodity had an impact on the New England landscape, creating a new colonial ecology inextricably tied to the broader transatlantic economy beyond its shores. This history refutes two common misconceptions: first, that globalization is a relatively new phenomenon and its power to reshape economies and natural environments has only fully been realized in the modern era and, second, that the Puritan founders of New England were self-sufficient ascetics who sequestered themselves from the corrupting influence of the wider world. Roberts argues, instead, that colonial New England was an integral part of Britain's expanding imperialist commercial economy. Imperial planners envisioned New England as a region able to provide resources to other, more profitable parts of the empire, such as the sugar islands of the Caribbean. Settlers embraced trade as a means to afford the tools they needed to conquer the landscape and to acquire the same luxury commodities popular among the consumer class of Europe. New England's native nations, meanwhile, utilized their access to European trade goods and weapons to secure power and prestige in a region shaken by invading newcomers and the diseases that followed in their wake. These networks of extraction and exchange fundamentally transformed the natural environment of the region, creating a landscape that, by the turn of the nineteenth century, would have been unrecognizable to those living there two centuries earlier.
Argues that change in the energy base and hence in technology has enabled Britain to overcome an energy crisis and sustain dramatic population growth. Throughout these essays illustrate Thomas' organic approach to economic growth.
The Rise of the Atlantic Economies surveys the economic history of Spain, the Netherlands, France, and England and of the colonies they established, or had dealings with, in North and South America from the beginnings of Portuguese exploration in the fifteenth century to the American Revolution.