dunnettreader + economic_history + dutch   11

Lorena S. Walsh, review - Nuala Zahedieh, The Capital and the Colonies: London and the Atlantic Economy, 1660-1700 (2010) | EH.net Review - Feb 2011
Zahedieh finds increasing concentration of plantation commerce among large merchants specializing in particular commodities and regions in the 1680s, when falling commodity prices and increased taxes eroded profit margins and drove out small traders. Colonial merchants seldom invested in overseas property, but made a massive contribution to expansion of empire in the form of short-term credit extended to settlers. The larger operators accumulated enough capital to diversify investment into shipbuilding, slave-trading, joint-stocks, insurance, wharves, industry, landed property, loans, and public credit. This decade was a turning point, as merchant concentration and specialization led to improved productivity, economies of scale, and reduced costs. (..) attempts of the later Stuarts to corner the profits of empire by restricting free trade among Englishmen as having limited success. (..) she sees the effect of the Glorious Revolution, not as leading to an economically optimal political arrangement, but as consolidating the capacity of the transatlantic trading elite to enforce regulation in its own interests and enhance the value and scale of rent-seeking enterprises at the expense of competition and efficiency, leading to a period of slower growth in colonial trade and shipping at the end of the century. Unlike trade with Europe, colonial commerce required an unusually large fixed capital investment in the greater tonnage needed to transport large volumes of bulky goods over long distances. (..) English- and plantation-built ships were better suited to most colonial commerce than were Dutch (..) it was long-distance commerce, rather than the protection of the Navigation Acts, that revived the English shipbuilding industry. By 1700 plantation shipping accounted for 40% of London's overseas trading capacity. (..) increased education among mariners (..) managerial skills, (..) navigational instruments. (..) London's prosperity by stimulating the construction of wharfs and warehouses, (.) naval refitting, repair, and provisioning trades. Although technology and unit input costs were fairly stable across the period, increased volumes and growing experience with colonial conditions led to organizational improvements which made more efficient use of inputs. - page encoding a mess on Note - try to save page or copy to EF in Air
books  bookshelf  reviews  17thC  economic_history  British_history  British_Empire  London  colonialism  North-Weingast  American_colonies  West_Indies  trade  trade-policy  shipping  Navigation_Acts  1680s  1690s  entrepôts  economic_growth  economic_culture  Charles_II  James_II  Atlantic  capital  investment  trade_finance  Dutch  education-training  Glorious_Revolution  Whigs  Whig_Junto  City_politics  infrastructure  ports  technology  navigation  interlopers  regulatory_capture  commodities  EF-add 
january 2015 by dunnettreader
Robert C. Allen - Progress and Poverty in Early Modern Europe | JSTOR - The Economic History Review, New Series, Vol. 56, No. 3 (Aug., 2003) , pp. 403-443
An econometric model of economic development is estimated with data from leading European countries between 1300 and 1800. The model explores the impact of population, enclosure, empire, representative government, technology, and literacy on urbanization, agricultural productivity, proto-industry, and the real wage. Simulations show that the main factors leading to economic success in north-western Europe were the growth of American and Asian commerce and, especially, the innovations underlying the export of the new draperies in the sixteenth and seventeenth centuries. The enclosure of the open fields, representative government, and the spread of literacy did not play major roles. -- downloaded pdf to Note
article  jstor  economic_history  Europe-Early_Modern  Great_Divergence  North-Weingast  agrarian_capitalism  literacy  14thC  15thC  16thC  17thC  18thC  British_Empire  Dutch  colonialism  trade  Asia  textiles  Innovation  agriculture  urbanization  wages  labor_history  manufacturing  productivity  export-led  Industrial_Revolution  proto-industry  downloaded  EF-add 
january 2015 by dunnettreader
Geoffrey Jones (HBS Working Papers 2013) - Debating the Responsibility of Capitalism in Historical and Global Perspective
This working paper examines the evolution of concepts of the responsibility of business in a historical and global perspective. It shows that from the nineteenth century American, European, Japanese, Indian and other business leaders discussed the responsibilities of business beyond making profits, although until recently such views have not been mainstream. There was also a wide variation concerning the nature of this responsibility. This paper argues that four factors drove such beliefs: spirituality; self-interest; fears of government intervention; and the belief that governments were incapable of addressing major social issues.

Keywords: Rachel Carson; Sustainability; Local Food; Operations Management; Supply Chain; Business And Society; Business Ethics; Business History; Corporate Philanthropy; Corporate Social Responsibility; Corporate Social Responsibility And Impact; Environmentalism; Environmental Entrepreneurship; Environmental And Social Sustainability; Ethics; Globalization; History; Religion; Consumer Products Industry; Chemical Industry; Beauty and Cosmetics Industry; Energy Industry; Food and Beverage Industry; Forest Products Industry; Green Technology Industry; Manufacturing Industry; Asia; Europe; Latin America; Middle East; North and Central America; Africa
paper  downloaded  economic_history  business_history  imperialism  US  British_Empire  France  Germany  Japan  Spain  Dutch  Latin_America  Ottoman_Empire  India  18thC  19thC  20thC  corporate_citizenship  corporate_governance  business  busisness-ethics  business-and-politics  common_good  communitarian  environment  labor  patriarchy  paternalism  labor_standards  regulation  product_safety  inequality  comparative_economics  capital_as_power  capitalism  CSR  political_economy  economic_culture  economic_sociology  self-interest  ideology 
january 2015 by dunnettreader
Joshua Clover, review essay - Autumn of the Empire [post the Great Recession] | The Los Angeles Review of Books July 2011
Books discussed - Richard Duncan, The Dollar Crisis: Causes, Consequences, Cures *--* Robert Brenner, The Economics of Global Turbulence *--* Giovanni Arrighi, The Long Twentieth Century: Money, Power and the Origins of Our Times *--* Giovanni Arrighi, Adam Smith in Beijing *--*--*--* All three authors are heterodox from view of what passes for informed discourse about economic theory or political economy - by the conclusion of the essay, Giovanni Arrighi's longue-durée of transitions of a succession of capitalist empires becomes the vantage point for discussions of how we got to the Great Recession as well as where we have to start thinking about another way of understanding the geopolitical dynamics of global capitalism (or the global capitalist dynamics of geopolitics) Other TAGGED AUTHORS - Jill Ciment, Paul Krugman, Fernand Braudel, Joseph Schumpeter, John Maynard Keynes, Karl Marx, T.S. Eliot *--* Other TAGGED BOOKS - Reinhardt and Rogoff, This Time It's Different, *--* Michael Lewis, The Big Short: Inside the Doomsday Machine
books  reviews  global_economy  globalization  international_political_economy  financialization  financial_crisis  economic_history  geopolitics  empires  empire-and_business  world_history  world_systems  cycles  15thC  16thC  17thC  18thC  19thC  20thC  Genoa  city_states  Dutch_Revolt  Dutch  British_Empire  US-China  US-empire  imperialism  imperial_overreach  trade  trading_companies  production  productivity  capitalism  competition  profit  investment  international_monetary_system  translatio_imperii  Annales  bubbles  labor  off-shoring  investors  American_exceptionalism  EF-add 
august 2014 by dunnettreader
Jonathan Israel - “Radical Enlightenment” – Peripheral, Substantial, or the Main Face of the Trans-Atlantic Enlightenment (1650-1850) | Diametros
“Radical Enlightenment” and “moderate Enlightenment” are general categories which, it has become evident in recent decades, are unavoidable and essential for any valid discussion of the Enlightenment broadly conceived (1650-1850) and of the revolutionary era (1775-1848). Any discussion of the Enlightenment or revolutions that does not revolve around these general categories, first introduced in Germany in the 1920s and taken up in the United States since the 1970s, cannot have any validity or depth either historically or philosophically. “Radical Enlightenment” was neither peripheral to the Enlightenment as a whole, nor dominant, but rather the “other side of the coin” an inherent and absolute opposite, always present and always basic to the Enlightenment as a whole. Several different constructions of “Radical Enlightenment” have been proposed by the main innovators on the topic – Leo Strauss, Henry May, Günter Mühlpfordt, Margaret Jacob, Gianni Paganini, Martin Mulsow, and Jonathan Israel – but, it is argued here, the most essential element in the definition is the coupling, or linkage, of philosophical rejection of religious authority (and secularism - the elimination of theology from law, institutions, education and public affairs) with theoretical advocacy of democracy and basic human rights. -- Keywords - Enlightenment Radical Enlightenment moderate Enlightenment democracy aristocracy universal education equality emancipation republicanism mixed government poverty economic oppression crypto-radicalism positivism American revolution -- downloaded pdf to Note
article  intellectual_history  political_history  political_culture  politics-and-religion  historiography  economic_history  political_economy  17thC  18thC  19thC  Enlightenment  Radical_Enlightenment  French_Enlightenment  religious_culture  authority  anticlerical  Absolutism  secularism  democracy  natural_rights  civil_liberties  egalitarian  American_Revolution  French_Revolution  1848_revolutions  Spinozism  education  aristocracy  poverty  Ancien_régime  mixed_government  tolerance  positivism  natural_law  domination  republicanism  republics-Ancient_v_Modern  natural_philosophy  British_history  Dutch  Germany  Atlantic  American_colonies  Early_Republic  Republic_of_Letters  bibliography  downloaded  EF-add 
july 2014 by dunnettreader
Crisis Chronicles: The Commercial Credit Crisis of 1763 and Today’s Tri-Party Repo Market - Liberty Street Economics
Crisis Chronicles: The Commercial Credit Crisis of 1763 and Today’s Tri-Party Repo Market. -- James Narron and David Skein -- During the economic boom and credit expansion that followed the Seven Years’ War (1756-63), Berlin was the equivalent of an emerging market, Amsterdam’s merchant bankers were the primary sources of credit, and the Hamburg banking houses served as intermediaries between the two. But some Amsterdam merchant bankers were leveraged far beyond their capacity. When a speculative grain deal went bad, the banks discovered that there were limits to how much risk could be effectively hedged. In this issue of Crisis Chronicles, we review how “fire sales” drove systemic risk in funding markets some 250 years ago and explain why this could still happen in today’s tri-party repo market.
economic_history  18thC  Prussia  Dutch  banking  money_market  financial_crisis  leverage  liquidity  Seven_Years_War  EF-add 
february 2014 by dunnettreader
Nathan Sussman and Yishay Yafeh - Institutional Reforms, Financial Development and Sovereign Debt: Britain 1690-1790 | JSTOR: The Journal of Economic History, Vol. 66, No. 4 (Dec., 2006), pp. 906-935
We revisit the evidence on the relations between institutions, the cost of government debt, and financial development in Britain (1690-1790) and find that interest rates remained high and volatile for four decades after the Glorious Revolution, partly due to wars and instability; British interest rates co-moved with those in Holland; Debt per capita remained lower in Britain than in Holland until around 1780; and Britain did not borrow at lower rates than European countries with more limited protection of property rights. We conclude that, in the short run, institutional reforms are not rewarded by financial markets. -- reasonably up to date bibliography on institutional_economics, behavioral_economics, financial markets (Shleifer et al), emerging markets, economic history of 17thC 18thC 19thC re industrial revolution, crowding_out and public finance -- downloaded pdf to Note
article  jstor  economic_history  political_history  finance_capital  capital_markets  capital_flows  sovereign_debt  17thC  18thC  British_history  Dutch  France  public_finance  taxes  interest_rates  institutional_economics  institutional_change  North-Weingast  constitutionalism  Absolutism  behavioral_economics  emerging_markets  international_finance  bibliography  downloaded  EF-add 
january 2014 by dunnettreader
Stefan E. Oppers - The Interest Rate Effect of Dutch Money in 18thC Britain | JSTOR: The Journal of Economic History, Vol. 53, No. 1 (Mar., 1993), pp. 25-43
An early piece in the financial markets, behavioral_economics, crowding_out debates -- It is generally recognized that the Dutch played a major part in financing British government deficits from the 1720s to the late 1770s. This article argues that even though the Dutch continued to hold large amounts of British debt after 1780, they stopped supplying new capital to the British and started a modest repatriation of some of their previous investments. A comparative econometric study of 3 percent consol yields during the two deficit-inducing wars Britain fought between 1750 and 1795 shows that as a result British interest rates became much more sensitive to increases in government borrowing. -- see bibliography of both primary and secondary literature -- didn't download
article  jstor  economic_history  finance_capital  18thC  British_history  Dutch  sovereign_debt  capital_markets  capital_flows  interest_rates  North-Weingast  crowding_out  French_Revolutionary_Wars  American_Revolution  public_finance  bibliography  EF-add 
january 2014 by dunnettreader
Richard W. Unger, review - Jan de Vries and Ad van der Woude, The First Modern Economy: Success, Failure, and Perseverance of the Dutch Economy, 1500–1815 | JSTOR: The Journal of Modern History, Vol. 72, No. 1 (March 2000), pp. 239-241
Reviewed work(s): The First Modern Economy: Success, Failure, and Perseverance of the Dutch Economy, 1500–1815. By Jan de Vries and Ad van der Woude. Cambridge: Cambridge University Press, 1997. Pp. xx+767. $89.95. -- Richard W. Unger, University of British Columbia -- The final sixty pages do serve to draw together what has gone before and offer not only an overview of economic and social developments but also a tentative theory about patterns of the rise and fall of modern economies. The authors launch a sustained attack on traditional periodization of economic and, indeed, all history. They find in the Netherlands in the seventeenth century many of the features of nineteenth- and twentieth-century economic growth. They see no reason to look on the English Industrial Revolution as a cataclysmic event. -- There seems to be no doubt that the massive debt run up by the Dutch government in fending off the French threat from 1672 to 1713 burdened the economy so much that it could neither recover earlier levels of growth nor engage in restructuring like that which occurred in the years from 1660 to 1700 in the face of falling food prices, rising real incomes of laborers and craftsmen, and declining land values. Too many people in the eighteenth century—such as government officials and bondholders—lived well thanks to the need to service the debt; these people resisted necessary fiscal reform.
books  reviews  jstor  economic_history  political_economy  16thC  17thC  18thC  19thC  Dutch  development  modernization  urbanization  agriculture  industry  Industrial_Revolution  foreign_policy  sovereign_debt  rentiers  trading_companies  trade  colonialism  shipping  entrepôts  periodization  EF-add 
january 2014 by dunnettreader
Brad DeLong : Are Commenters on the Tulipmania Rational?: Extraordinary Popular Delusions and the Madness of Crowds Weblogging
Brad destroys the most recent "Tulipmania" was rational efficient market paper reported by The Economist -- Brad takes it apart step by step, both the theory and Dutch history -- Every once in a while someone is impelled to try to claim that one or the other of the more notorious bubbles in history was in fact not a bubble--that the market was in fact functioning efficiently, that asset prices were equal to fundamentals, that traders were behaving rationally given the information they had, and behaving rationally in their decisions to spend resources acquiring information, so that buyers and sellers were making investments that were good and appropriate from a rational ex ante perspective.
economic_theory  economic_models  institutional_economics  capital_markets  bubbles  economic_history  17thC  Dutch  EF-add 
october 2013 by dunnettreader
Review by: Anne E. C. McCants: The Dutch Republic in the Seventeenth Century: The Golden Age by Maarten Prak; trans Diane Webb (CUP 2005)
JSTOR: The Journal of Economic History, Vol. 67, No. 2 (Jun., 2007), pp. 540-541 Looks like a more digestible version of Israel's gigantic tome with more emphasis on culture - foreign policy vis à vis Spain and France important in narrative
books  reviews  17thC  Dutch  economic_history  political_economy  political_culture  Spain  France  cultural_history  urban  development  financial_system  colonialism  balance_of_power  Louis_XIV  EF-add 
july 2013 by dunnettreader

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