Economic history Books

Book SynopsisDuring the 1920s, the black decade of British steel, nearly everyone agreed that the industry's revival depended on replacing obsolete equipment and instituting modern technologies that would increase production and decrease costs. Despite consensus, these goals were not reached and, even after wartime and postwar reconstruction needs were met, the industry continued its steady decline. Steven Tolliday advances three hypotheses for this stagnation. First, the problems of British steel, Tolliday suggests, were embedded in the structures of individual firms and of the industry as a wholeboth unchanged since the prosperous years of the nineteenth centuryand after World War I fractured by conflicting interests (share holders, managers, family members, bankers, creditors). Second, the two external institutions that might have enforced reorganization and modernizationthe banking system and the governmentwere overcautious, had complex and contradictory goals, and lacked the management skill

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Book SynopsisParis to New York shows how competition and cooperation between transatlantic designers and entrepreneurs built the groundwork of today’s international fashion industry. Véronique Pouillard tells the story of the fashion business as a negotiation between art and commerce and explores the complex relationship between these iconic fashion centers.Trade ReviewVéronique Pouillard has written a fascinating and important book. Her impressive research makes the history of the business come alive. -- Valerie Steele, Director and Chief Curator of The Museum at the Fashion Institute of TechnologyRich in its scholarship and highly topical in its conclusions, Paris to New York takes a fresh perspective on the relationship of these key cities in fashion’s modern history. It illustrates that the links between two distinctive and powerful cultures produced a creative and entrepreneurial dynamic that defined how one of the world’s most important industries has developed. As the fashion industry faces further challenges and transformations in the twenty-first century, Pouillard provides a fascinating overview of the structures and practices that have brought us to this point. -- Chris Breward, Director of National Museums ScotlandComparisons and connections abound in this important look at the Paris and New York fashion nexus. From Paris’s lead to New York’s growth, from Vionnet’s dresses for the happy few to Dior’s lipstick and YSL’s scarves marketed to a wider ‘crowd,’ Véronique Pouillard astutely explains how design snitching and copyright battles, the right mix of creativity and finance, along with that je ne sais quoi of design form the backstory to the runway and the clothes it venerates. -- Nancy L. Green, author of Ready-to-Wear and Ready-to-Work: A Century of Industry and Immigrants in Paris and New YorkA fluidly written and compelling narrative of the business of fashion in the last century…Essential reading for anyone interested in the interrelationship between the French and American fashion industries. -- Caroline Elenowitz–Hess * Journal of Dress History *Traces how fashion design and consumption interacted with global political and economic developments throughout WWI, the Great Depression, and WWII…While this book is firmly rooted in business history, urban historians will nonetheless find insights into how Paris and New York were made into fashion and design capitals…This book gets at some of the more elusive forces behind the fashion industry that differentiate it from other manufacturing sectors, shedding light into the black box of style and design that dictates the volatility of the clothing industry. -- Lauren Laframboise * The Metropole *A compelling history of the industry from the origins of haute couture to the new realm of fast fashion and luxury business…Business historians will find this transatlantic history of fashion highly stimulating…Tracing the interplay between French and American fashion systems over the course of the twentieth century, with the support of varied sources and powerful figures, this book clearly details the path of the luxury fashion industry as well the dynamics of interaction between design and capitalism. -- Valeria Pinchera * Business History Review *This history of culture as an evolving history of business innovation and strategy is the subject of Véronique Pouillard’s Paris to New York, and one she recounts with considerable knowledge and value. -- Michael Miller * Journal of Modern History *

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Book SynopsisTrade ReviewLays out how, over centuries, policymakers wrote Black Americans out of the economic system…Baradaran’s work resonates now as millions protest around the U.S.—speaking out not only against police brutality against Black Americans, but the systemic racism that pervades America’s institutions. * Huffington Post *Baradaran…provides a deep accounting of how America got to a point where a median white family has 13 times more wealth than the median black family. -- Gillian B. White * The Atlantic *Black capitalism has not improved the economic lives of black people, and Baradaran deftly explains the reasons why…Banking today already offers low interest loans and free services to the wealthy, while reserving payday lending and check cashing for those with the least resources. Baradaran’s lesson is that a separate system of black capitalism would intensify, rather than ameliorate, this dynamic along the lines of race. -- Armond Towns and Carolyn Hardin * Los Angeles Review of Books *Baradaran’s point is to show how white and Black Americans effectively live in two separate economies… As a work of history, the book contains a disturbingly coherent narrative of racist plunder spanning from the Freedman’s Bureau bank to today’s payday lenders… Baradaran’s book is a must read for anyone interested in closing America’s racial wealth gap. -- Guy Emerson Mount * Black Perspectives *Extraordinary… Baradaran focuses on a part of the American story that’s often ignored: the way African Americans were locked out of the financial engines that create wealth in America, and the way the rhetoric of equal treatment under the law was weaponized, as soon as slavery ended, against efforts to achieve economic equality. -- Ezra Klein * The Ezra Klein Show *Baradaran has produced an important, sobering assessment of historic and contemporary African American banks… [She] provides an overview of American and African American economic history from the era of slavery to the present. -- Robert E. Weems, Jr. * American Historical Review *Anyone who manages money, invests in others’ livelihoods or lives in America should read The Color of Money…The book digs into financial institutions and policies that are responsible for creating and maintaining racial inequalities in the United States…The book breaks down the stereotypes of self-help dogma that tout ‘save more, don’t spend so much or pull yourself up’ and rejects the idea that those who are not wealthy just need more financial literacy or mentorship. * TechCrunch *Combining a rich historical sweep with in-depth analysis of the mechanics of banking, Baradaran unpacks the brutal dilemma facing black banks—how to create black wealth in the context of a segregated and unequal ‘Jim Crow’ economy. Baradaran’s brilliant and devastating analysis leads to an irrefutable conclusion: the racial wealth gap is the product of state law and public policy, and will only be reversed when the same governmental tools that created segregation and discrimination are deployed to end it. -- Beryl Satter, author of Family Properties: How the Struggle over Race and Real Estate Transformed Chicago and Urban AmericaObservers as different in time and ideology as Frederick Douglass, Malcolm X, and Ronald Reagan have argued that black banks represent perhaps the best hope for securing a just society. As Baradaran powerfully maintains, however, any effort to restrict responsibility to banks alone or black people alone will always be doomed to failure. A swift, beautiful, and chastening book, The Color of Money reminds us, yet again, that black poverty is not really an economic problem, but rather a political problem requiring political solutions. -- N. D. B. Connolly, author of A World More Concrete: Real Estate and the Remaking of Jim Crow South FloridaBaradaran provides a pivotal understanding of how our racialized history structured the disparity between the black and white share of the nation’s wealth and how it continues to inhibit the development of black capital and black banks. Her book puts to rest, once and for all, the trope that self-help, buying black, and black banking are the panacea to black prosperity. -- Darrick Hamilton, The New School for Social ResearchIn this important book, law professor Mehrsa Baradaran uses the history of black banking from emancipation to the present as a vehicle for exploring the origins and persistence of the racial wealth gap in America. This is more than a history of financial institutions, though. It is a probing, revelatory study of racism and capitalism in the making of modern America, one that reveals how segregation, racial prejudice, and black economic disadvantage became mutually reinforcing. -- Andrew W. Kahrl, University of VirginiaA stimulating walk-through of the history of the expansion of the wealth gap between black and white Americans that has grown even larger since the Emancipation Proclamation freed blacks from slavery. -- Sidney A. Johnson * Journal of Economics, Race, and Policy *

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Book SynopsisA Third Way tells the story of Deng Xiaoping’s experimentation with export-led development inspired by Lenin’s New Economic Policy and the economic reforms of Eastern Europe and Asia. This book provides important new insights about the crucial period of the 1980s and how it paved the way for China’s transformation into a global economic superpower.Trade ReviewBuilt on decades of rigorous research, A Third Way provides a fine-grained, nuanced, step-by-step analysis on how China opened up to the world. It is an extremely important new addition to a recent body of literature on the beginning of China’s reform. …The author’s on-the-ground knowledge also enables him to accurately capture the social atmosphere in South China during a period of radical changes. …[A] highly informative read for political scientists, historians, and economists interested in modern China, post-socialist transformations, and international trade and investment. -- Taomo Zhou * China Review International *Reardon’s significant study is worthy of close reading by both economic specialists and the broader community of China scholars. -- Frederick C. Teiwes * China Journal *

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Book SynopsisKorea’s financial development has been a tale of liberalization and opening but the new system has failed to steer the country away from financial crises. This study analyzes the changes in the financial system and finds that financial liberalization has contributed little to grow and stabilize the Korean economy.Trade ReviewA welcome and ambitious volume. -- Peter J. Morgan * Developing Economies *

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Book SynopsisMoney did not become obsolete under Communism. The ruble remained a key feature of Soviet life. After World War II, money became an essential tool of the Soviet government. A strong ruble represented the nation’s promise of future prosperity, but its failure to deliver improved purchasing power undermined popular confidence in Communism.Trade ReviewIronside contests the view that money had limited value in the Soviet system. She demonstrates that Soviet postwar governments were very concerned with increasing the ruble’s purchasing power as a means to economic growth and eventual abundance. This goal, however, remained unfulfilled. By examining political leaders’ beliefs, economic experts’ debates, and citizens’ complaints to the authorities, Ironside shows how a variety of economic policies introduced in the decades after World War II repeatedly led to the accumulation of unspendable money in the hands of the people. -- Maria Lipman * Foreign Affairs *A brilliant piece of research, equally useful for historians and economists…It offers a path-breaking narrative that expands on established economic models of central planning such as soft budget constraints, shortages and slacks, worker behavior under socialism and economic coordination…A must read for economists ready to take risks in interdisciplinary research and for historians willing to undertake cutting-edge research interactions with quantitative social science. -- Theocharis Grigoriadis * H-Net Reviews *Fascinating…Ironside’s highly original book fills in so many important gaps in the scholarship and offers so many insights into Soviet politics and economics that it deserves to be read by all serious students of the postwar USSR. -- Julie Hessler * Soviet and Post-Soviet Review *[This] excellent new study is informed by deep research in former Soviet archives…Ironside explores complex matters of economic policy with dexterity and clarity. Her facility with social history and sensitivity to the tangled politics of the period keeps the book lively and engaging. This book is recommended for specialists, graduate students, and advanced undergraduates interested in economic history, socialist economies, and modern Russian and European history. -- James W. Heinzen * Journal of Modern History *Even in an overwhelmingly state-owned, price-controlled economy [like the Soviet Union], it was hard to get [Modern Monetary Theory]-like policies to work, and even their successes came at high cost to consumer welfare, labor productivity and public opinion. [Ironside] has done a great service in illuminating this little-known experience. It should be required reading for anyone contemplating MMT. -- Kent Osband * Central Banking *A masterful account of Stalin’s and Khrushchev’s lost battle to bring prosperity to the Soviet people and state through the strengthening of the ruble. -- Elena Osokina, author of Stalin’s Quest for Gold: The Torgsin Hard-Currency Shops and Soviet IndustrializationAs Ironside shows so convincingly in this highly original account, Soviet leaders and experts saw the politics of the ruble and the role of money as crucial to their efforts to engineer a better society. An excellent, exciting contribution to the new history of political economy, with implications for other welfare states and the history of inequality far beyond the Soviet Union. -- Vanessa Ogle, author of The Global Transformation of Time: 1870–1950How should socialists deal with money? In A Full-Value Ruble, Kristy Ironside examines the dilemmas posed by money in the postwar Soviet Union. Though Bolshevik leaders promised that communism would produce universal abundance, the postwar Soviet Union faced severe scarcity. So money decided who got what. From prices to pensions, from bread allowances to savings bonds, Ironside shows how monetary debates were fundamental to defining the Soviet social and economic order. A Full-Value Ruble revolutionizes our understanding of Soviet political economy. And in doing so, it poses profound questions about the meaning of money in our society, too. -- Chris Miller, author of Putinomics: Power and Money in Resurgent RussiaAn important entry in the literature on the economic history of the Soviet Union, charting post–World War II efforts by Stalin and then Khrushchev to offer Soviet citizens a kind of consumer prosperity after years of economic upheaval and total war…Impressively researched. -- David Woodruff * Business History Review *Kristy Ironside is the author of a series of seminal articles on Soviet monetary and tax policy during and just after World War II…The present superbly researched and explicated book is an extension of that work; it looks at Soviet attempts during the late Stalin and Khrushchev periods to stabilize and enhance the purchasing power of the domestic currency. -- Donald Filtzer * American Historical Review *

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Book SynopsisUnemployment, monetary and fiscal policy, and the merits and drawbacks of free markets were a few of the issues the journalist and public philosopher Walter Lippmann explained to the public during the Depression, when professional economists skilled at translating concepts for a lay audience were not yet on the scene, as Craufurd Goodwin shows.Trade ReviewIt is unusual for a historical narrative to feature a journalist. Yet…Goodwin employs the writings of the once-famous newspaper columnist Walter Lippmann to describe the fervid U.S. debates that began with the 1929 stock-market crash. The device works beautifully. Lippmann, who wrote from 1931 to 1967, was so prolific, and his correspondence with other thinkers and decision makers was so cogent and extensive, that his oeuvre provides excellent material for examining a crucial moment in American history and essential aspects of the American economy, as hotly debated today as in Lippmann’s time…[An] insightful chronicle. -- George Melloan * Wall Street Journal *An excellent study of the man who was probably the most influential economics columnist and commentator of his era, even though he is not usually remembered as such. -- Tyler Cowen * Marginal Revolution *This is a timely biography. Lippmann’s concern to navigate through the real complexities and uncertainties of a transitional, even revolutionary, economic era while avoiding the appealing, easy answers was admirable… Lippmann is well worth re-discovering as we continue through our own period of economic and political upheaval, and this book sheds light on what made him an important figure who deserves to be better known. -- Diane Coyle * Enlightened Economist *From the early 1920s until the mid-1960s, Walter Lippmann was among the most prominent American public intellectuals, a sought-after adviser to politicians and the author of many books and more than a thousand articles and columns for The New Republic, the Herald Tribune, and The Washington Post. Goodwin’s worthy book serves to remind readers that Lippmann was more than a mere pundit. -- Richard N. Cooper * Foreign Affairs *A fascinating glimpse into the workings of a brilliant mind striving mightily to understand the changing world around him and explain it to his readers… In splendid detail, Goodwin traces the process by which Lippmann, influenced by so many different minds from so many different fields, assumed the role that became his mission, that of public economist… No brief summary can do justice to either the richness of Lippmann’s ideas and prose or the skill with which Goodwin has woven his account of them. Quoting Lippmann liberally, the author does a masterful job of meshing disparate elements of material into a coherent narrative with a clarity that matches Lippmann’s own style… Goodwin’s superb work offers readers a fascinating guided tour across the landscape of one of the most unique and fertile minds of our time. -- Maury Klein * Harvard Business Review *Walter Lippmann set an unmatched standard for a journalist interpreting (and leavening) expert opinion to newspaper readers in the middle third of the twentieth century. He introduced Keynesian macroeconomics to the generation of the New Deal but never lost interest in markets themselves. He precipitated the founding of the Mont Pèlerin Society after World War II but declined to join. And he remained on top of the story well into the Sixties, when the New Economics actually became public policy. It was a golden age. Craufurd Goodwin, who in the forty years that followed became the dean of the history of economic thought in America, has reanimated Lippmann and his approach with an eye to its many lessons for the present day. -- David Warsh, economicprincipals.comAnyone interested in the great economic and political events of the middle of the last century will have encountered Walter Lippmann. The prolific journalist and public intellectual wrote regular newspaper columns and numerous books wrestling with the challenges of economic depression, war, and reconstruction. In this volume, Goodwin provides a synthesis of the evolution of Lippmann’s views on economic issues… Goodwin concludes this fascinating volume with a brief chapter summing up Lippmann’s importance in creating the role of the public intellectual in economic policy. -- J. L. Rosenbloom * Choice *An insightful biography of esteemed journalist and philosopher Walter Lippmann…Opening up new perspectives on past political debates, Goodwin delivers a finely limned portrait of a man whose career was based on standards and purposes that seem to have largely disappeared from public life. * Kirkus Reviews *We have many pundits and probably too many economists. But we have no Walter Lippmann, and Craufurd D. Goodwin’s wonderful biography of the great journalist shows us why this is a tragedy. Lippmann was the voice of the profound generalist fighting the damaging defenders of meaningless abstraction. This is a fascinating book that reminds us how much better public commentary on the economy can be than it is today. -- Jeff Madrick, author of Seven Bad Ideas: How Mainstream Economists Have Damaged America and the World

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Book SynopsisThis record of Florentine musician Jacopo Peri's wide-ranging investments and activities in the marketplace enables the first detailed account of the Florentine economy in the late sixteenth and early seventeenth centuries, and opens a completely new perspective on one of Europe's principal centers of capitalism.Trade ReviewHow did Renaissance musicians balance their creative and practical lives? Drawing on Peri's many unpublished account books and letters, this exemplary collaborative study explores how one famous Florentine composer-performer successfully combined business, finance, and family management with a musical career at the Medici court. Fascinating and original, it will delight social and cultural historians as well as those of music and the economy. -- Suzanne B. Butters, University of ManchesterQuietly thrilling…[Carter and Goldthwaite] offer a sustained analysis of a recently discovered trove of account books belonging to Jacopo Peri (1561-1633), one of the earliest opera composers. What they reveal has implications for both music history and our understanding of an economy and society in transition, and is a model of interdisciplinary collaboration in the humanities…Even ordinary music lovers will find the exploration of the still underrated Peri intriguing. -- Zachary Woolfe * New York Times *In this bravura example of interdisciplinary history at its finest, two scholars of matchless erudition use the remarkably well-preserved traces of one man's life to provide a fascinating account of economic and musical practice in Florence at the turn of the seventeenth century. Through Jacopo Peri's story, Carter and Goldthwaite indispensably show how social status and wealth might contribute to a musician's aesthetic stance, reputation, and, eventually, canonicity. -- Suzanne G. Cusick, New York UniversityWhat is known about the circumstances of composers living and working in Italy during this period is often disarmingly skeletal. Through their detailed exploration of the 'Peri Archive' from different historical perspectives--musical, social, and, above all, economic--the authors have fascinatingly illuminated the interlocking spheres of the complex existence of one of the most significant composers of the time. -- Iain Fenlon, University of Cambridge

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Book SynopsisLouis Mandrin led a gang of bandits who brazenly smuggled contraband into eighteenth-century France. Michael Kwass brings new life to the legend of this Gallic Robin Hood, exposing the dark side of early modern globalization. Decades later, the memory of Mandrin inspired ordinary subjects and Enlightened philosophers alike to challenge royal power.Trade ReviewEngrossing and ambitious…Vivid and thrilling, Kwass’s depiction of Mandrin and his infamous associates also leads to a compelling reconsideration of the larger political and economic shifts occurring in pre-Revolutionary France…From Savoyard peasants to worldly noblemen, Kwass engagingly recreates the spider-web of illicit commerce and the motivations of those who stood to gain from it…Contraband’s undeniable strength comes from Kwass’s superb, at times cinematic, attention to detail. In recreating Mandrin’s smuggling raids in 1754 and 1755, Kwass develops a fascinating array of characters and settings. Kwass’s Mandrin is a sharply dressed and sophisticated protagonist with a flair for political theater, a shrewd leader, outmaneuvering the numerous intrigues thickening around him, albeit ultimately and tragically undone by circumstances…The story is filled with assassinations, betrayals, sieges, elegant dinner parties, riveting chase sequences, and more…Throughout this remarkable story, there is drama and insight enough to galvanize the attention of both scholars and lay readers. -- Patrick Hyde * Los Angeles Review of Books *[An] excellent book…The greatest strength of Contraband lies in its convincing use of Mandrin to explain how France’s Ancien Regime fell apart…Over the past twenty years, as historians have come to recognize the importance of early globalization, they have struggled to link it to the political upheavals of the 18th century. In Contraband, Michael Kwass has provided one of the strongest and most satisfying models of how the connection worked. -- David A. Bell * London Review of Books * A profoundly imaginative work that shows readers how the expansion of global commodity production penetrated deeply into provincial France over the eighteenth century. -- Paul Cheney, author of Revolutionary Commerce: Globalization and the French MonarchyMichael Kwass’s Contraband: Louis Mandrin and the Making of a Global Underground is a striking and novel biography of the celebrated smuggler and bandit, Louis Mandrin. Drawing ingeniously on both microhistory and global history, Kwass explores wide-ranging, vivid, and often unexpected facets of an eighteenth-century life—and shows how that life was rampantly embroidered in the public sphere. -- Colin Jones, author of The Great Nation: France from Louis XV to Napoleon

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Book SynopsisThough Robert Malthus has never disappeared, he has been perpetually misunderstood. Robert Mayhew offers at once a major reassessment of Malthus’s ideas and an intellectual history of the origins of modern debates about demography, resources, and the environment, giving historical depth to our current planetary concerns.Trade ReviewIn his admirably rounded Malthus: The Life and Legacies of an Untimely Prophet Mayhew draws our attention to the actual writings of this pioneer of demography and political economy, and to his historical context, especially the revolutionary enthusiasm which Malthus was concerned to dampen… Though Malthus did not go so far as to interpret our planet as an ecosystem with limited supplies of clean air and water, Mayhew makes a convincing claim for him as a founder of what is now called environmental economics… [For] Mayhew, it is the questions Malthus asked which are still important. -- Jonathan Benthall * Times Literary Supplement *Mayhew treats his subject sympathetically, but the book admirably exposes the complete Malthus, warts and all. Nor is any quarter spared for critics, from the Romantics to Freud, all of whom twist Malthus to suit their agenda… Mayhew’s signal contribution is to remind us that the population debate has been contentious for much of the period since Malthus’s original Essay of 1798. The book also helps us to understand the dangers of both pro- and anti-Malthusianism. -- Eric Kaufmann * Literary Review *[A] fine book… Mayhew describes the continuously contested legacy of what it meant to be a Malthusian, to commend or condemn Malthusianism in the two centuries after the Essay [on the Principle of Population] was published. But his book is also inevitably about us—as we too are obliged to think about our numbers, about nature and its resources, and about policies for living in a finite world. -- Steven Shapin * London Review of Books *Though critics saw Malthus as contemptuous of the poor and entrenched in his beliefs, Mayhew reveals him as a humane observer and insightful commentator, preoccupied with poverty and intent on reviewing his own earlier utterances, including his contentious 1803 claim that the poor deserved no place at life’s table. By his death in 1834, Malthus was an authoritative voice on population and economy, but his reputation—and notoriety—lived on in new versions of Malthusianism, including some, such as the advocacy of artificial contraception, he would never have endorsed. Indeed, Malthus was adopted as a bogeyman in post–1950s U.S. debates about ‘overpopulation,’ environment and security. Mayhew pushes beyond the stereotypes of Malthus to recover the historical reality… This is a compelling read. -- David Arnold * BBC History Magazine *Robert Mayhew helpfully dusts off Malthus and recounts his influence up to the present day, explaining why, with his one big idea, he became such an influential figure in European and North American intellectual history… Mayhew tries to rescue Malthus’ reputation by saying that many of his readers used him without really understanding him. -- Alister Chapman * Books & Culture *In our era of global warming, mass urbanization, nuclear contamination, rampant pollution, deforestation, strip mining, and fracking, Malthus’s very attention to the dangers of unchecked population growth can seem nothing less than prescient… Malthusian thought has found itself applied to dizzyingly opposite policies and politics. You’ll find it ingrained in worldviews ranging in label from radical to reactionary. Mayhew’s book, then, compels us not only to reread Malthus and consider the background and the arguable moderation of his reasoning but also to consider, more broadly, the complicated and fickle ways by which ideas, once they enter the public domain, become fodder for politically charged disputes. -- Sandra J. Peart * Chronicle of Higher Education *Loathed by Karl Marx and admired by Charles Darwin, Enlightenment scholar Thomas Malthus still polarizes, notes historian Robert Mayhew. The flashpoint was Malthus’s 1798 An Essay on the Principle of Population, which posits that although humans are prodigal, nature and resources are limited. Mayhew traces that theory through revolutionary and reactionary traditions, arguing that it remains pertinent in an era of economic downturn and shrinking resources, with predictions of 10 billion humans by 2050. -- Barbara Kiser * Nature *It is the wide range of techniques [the book] interweaves to recreate the unique fabric of Malthus’ intellectual life—including comparative biography, comparative literature and the study of contemporary journals—that make this a singularly rich portrait… [Mayhew] is surely right that an attention to the complexities of Malthus’ ideas and legacies will better equip us to deal with our present environmental challenges than will simplistic, self-edifying binaries. -- Niall O’Flaherty * Times Higher Education *Robert Mayhew’s account of the intellectual life and legacy of Thomas Malthus (1766–1834) is a fascinating, erudite and readable interdisciplinary—indeed, multidisciplinary—intellectual history… Mayhew is very good not just at contextualizing Malthus but in breaking down the binary divide separating Malthus and his enemies—in the process, teasing out from Malthus’s work (and how we have understood him) so much that is of value then and now. -- Matthew Hughes * English Historical Review *Robert J. Mayhew explains complex economic ideas with clarity and shows that even though Malthus and his Essay are still remarkably well-known, his work is often an (unread) reference point. Mayhew underscores how Malthus’s ideas are perpetually modern, and remarkably so. -- Alison Bashford, author of Global Population: History, Geopolitics, and Life on EarthA stylish, well-written, exuberant, and cleverly conceived book. Malthus is a thoughtful and skillful achievement. -- Donald Winch, author of Wealth and Life: Essays on the Intellectual History of Political Economy in Britain

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Book SynopsisFrom the end of WWI to the 1950s, a group of British writers and artists including George Orwell, Barbara Jones, and Dylan Thomas forged a politics that resisted the empty idealism of their age. Celebrating the wisdom and pragmatism of ordinary life, they offered a remedy for the destructive polarization that afflicts us again today.Trade ReviewAn elegant essay on the need to recognize the value in down-to-earth, small scale activity as well as the grand scheme. -- Andrew Hill * Financial Times *Uncovers a hidden tradition in British politics, one of local attachments and civic pride, which he pieces together from the writings of George Orwell, J. B. Priestley, D. H. Lawrence, and Dylan Thomas, figures who placed as Stears puts it, ‘humble, everyday humanity’ at the center of their optimistic understanding of a politics of a patriotic and progressive left. Orwell et al. are all figures from the past, whose influence peaked during the 1940s. But Stears believes they give hope Britons can escape the current culture war which pits a conservative ‘Us’ against a liberal ‘Them.’ -- Steven Fielding * The Spectator *[An] elegiac study of how our literary and aesthetic past might animate our political future…Stears [is] trying to make the larger point that it is in our daily life that the most significant experiences reside and that politics is too often unhelpfully broad-brush, arrogantly distant from the things that really matter. -- Melissa Benn * New Statesman *Stands as a timely and provocative work of centrism. -- Peter Berard * Los Angeles Review of Books *Beautifully written and evocative, Out of the Ordinary moves artfully between personal narrative and historical reflection, political theory and literary criticism. It is a wonderful book, illuminating and engrossing. -- Nicholas Pearce, University of BathOut of the Ordinary is a brilliant account of a neglected tradition of radical political thought and a compelling contribution to contemporary political debate. Stears deftly evokes a generation of British writers and artists who confronted extremism, technocratic rule, and populism in the mid-twentieth century—and demonstrates that their political thought speaks powerfully to the troubled politics of our own time. -- Benjamin Jackson, University of OxfordOut of the Ordinary is a moving and intimate reflection on a potent, lost moment in British cultural history and what it still might mean for our political imaginations, and in it Marc Stears has found his voice. -- Helen Thompson, Professor of Political Economy, University of CambridgeInspiring and energizing, Out of the Ordinary lays out a vision for social and political progress through solidarity and rooted in everyday human dignity. Against the ideological rigidities of our age and polarization of our thinking, Stears eloquently and movingly draws on a British intellectual lineage represented by George Orwell, Dylan Thomas, and Barbara Jones to show us how tradition can be combined with progress, patriotism with diversity, and individual rights with social duties. -- Danielle Allen, author of Our Declaration and CuzA brilliant, subtle book…Serves up a remarkable lost history of British radical ideas and offers a set of well-conceived policy proposals…Ought to be widely and closely read. As both a historical narrative and a work of political theory, it is an important book. -- Seamus Flaherty * Spiked *Stears’ book cites and quotes exhilarating, vivid, poetic descriptions and invocations of shared ordinary life…There is much to enjoy in this readable book. -- Elizabeth Frazer * Society *

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Book SynopsisDavid Webber shines a light on laborâs most potent remaining weapon: its multitrillion-dollar pension funds. Outmaneuvered at the bargaining table and in the courts, state houses, and Washington, worker organizations are beginning to exercise muscle through markets. Shareholder activism is a rare good-news story for Americaâs workers.Trade Review[An] excellent book. -- Arne Alsin * Forbes *Webber makes a persuasive case for the potential power of the pension funds he seeks to enlist in this effort [of exerting influence on the conduct of companies in which they invest]. -- Benjamin M. Friedman * New York Review of Books *Where Webber’s book shines is in demonstrating how labor’s capital already influences the working of the financial system, notably in its efforts to improve governance. -- Owen Davis * Dissent *Full of interesting bits of recent history, such as campaigns by CaPERS, AFSCME, NYC, SEIU, AFL-CIO and other union-related funds…Readers can learn much from the book on what works and what does not. The discussion of hedge funds may be particularly instructive to many. -- James McRitchie * Corporate Governance *Shareholder activism should strike most thinking conservatives as perhaps the fairest form of activism. The shareholder has earned his seat at the table; he’s bought the stock. He’s got skin in the game and an interest in the long-term health of the company. This isn’t some lawmaker or bureaucrat imposing a change from the outside, with or without an understanding of the challenges facing that business. -- Jim Geraghty * National Review *A thoughtful, informed analysis of the issues raised when union and public pension funds assert their economic power. -- David Marcus * The Deal *Webber weaves narratives of activist campaigns (pension fund administrators, union staffers, and government comptrollers are the book’s unlikely heroes) with fine-grained analysis of the relevant legal and financial concepts in accessible prose…Webber marshals a lot of information into a common sense argument that will appeal to anyone with an interest in the current labor movement. * Publishers Weekly *Webber sets forth a multifaceted plan for organized labor to strengthen its currently dismal position within the American economy. -- Charles K. Piehl * Library Journal *The Rise of the Working-Class Shareholder is a thoughtful, well-written, and well-researched volume. It should be read by any who are interested in learning more about capital stewardship and shareholder activism. It highlights the way that today’s labor movement can leverage its capital to serve its members, communities, and the economy. Labor cannot afford to leave any of these strategies on the table. Webber’s book provides a useful guide to how shareholder activism can and should be used. -- Tessa Hebb * ILR Review *Highly recommended. -- Nell MinowThis book could be the modern bible of the movement to harness labor’s capital for working-class interests, and it couldn’t be timelier. -- Teresa Ghilarducci, Director, Schwartz Center for Economic Policy Analysis (SCEPA) at The New SchoolA riveting, thorough, and thoughtful book that is not only a fast and fun read, but contributes wonderfully to a new and ongoing conversation about inequality, dark money, and populism in the electorate. -- Mehrsa Baradaran, author of The Color of Money: Black Banks and the Racial Wealth GapIn The Rise of the Working-Class Shareholder, David Webber shares the inspirational story of a group of ingenious individuals who discovered a new source of power for the labor movement: shareholder activism. Webber provides a compelling new legal and policy framework for using labor’s capital to advance members’ interests both as workers and as investors saving for retirement. -- Jennifer Taub, Vermont Law SchoolDavid H. Webber argues forcefully that the future of the American worker is inextricably bound with shareholder power. It is only when labor’s capital is fully unleashed, Webber theorizes, that American workers will then be able to win back control of their destiny. This is an important book. -- Steven Davidoff Solomon, Berkeley Center for Law and Business

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Book SynopsisIn 2012, when the Justice Department sued Apple and five book publishers for price fixing, many observers sided with the defendants. It was a reminder that, in practice, Americans are ambivalent about competition. Chris Sagers shows why protecting price competition, even when it hurts some of us, is crucial if antitrust law is to preserve markets.Trade ReviewThere is, I think, great wisdom in Sagers’s decision to look at antitrust history and policy from the perspective of a particular antitrust case that has generated a lot of public discussion…Pulls some interesting and important threads from antitrust history…Not only brilliantly conceived but also well timed, coming at a moment of great uncertainty about the goals of antitrust law. -- Don Allen Resnikoff * Washington Lawyer *This authoritative work contains a wealth of information. * Library Journal (starred review) *Persuasively argued… Through an array of concisely rendered, instructive examples from law and history, Sagers explores the public backlash to the Apple case as a ‘microcosm’ of the broader political and societal dilemmas that have effectively hamstrung modern antitrust enforcement. * Publishers Weekly *In this enjoyable, timely, and insightful book, Chris Sagers uses the colorful price-fixing case of United States v. Apple to explore the complexities and ironies of antitrust law. By bringing to the surface the cultural implications of antitrust and popular attitudes toward it, Sagers adds a much-needed dimension to the public and academic debate. -- Eric A. Posner, coauthor of Radical Markets: Uprooting Capitalism and Democracy for a Just SocietyThis book couldn’t be timelier. Amid growing calls from legislators and industry leaders to break up the big tech firms and to fire up the nation’s long dormant antitrust engines, Sagers’s richly detailed exploration of the Apple ebooks case, a rather ordinary case on the facts, offers an extraordinary lens on the very nature of competition, and the importance of sound, vigilant antitrust enforcement. -- Andrew Richard Albanese, author of The Battle of $9.99: How Apple, Amazon and the Big Six Publishers Changed the E-Book Business OvernightChris Sagers has written an instructive and thought-provoking meditation on much more than an important antitrust case about ebooks. Page after page rewards the reader with new insights and important lessons. -- Jonathan B. Baker, author of The Antitrust Paradigm: Restoring a Competitive EconomyUnited States v. Apple was not a close call: Apple and five publishers conspired to rig the prices of ebooks, taking money from readers. But many observers seemed to think that Apple, the villain of the story, was somehow the hero—and Amazon, the biggest victim, was secretly the villain. In this masterful book, Chris Sagers convincingly refutes this antitrust revisionism. United States v. Apple is an essential guide to one of the digital economy’s most important cases. -- James Grimmelmann, author of Internet Law: Cases and ProblemsAt a time when national attention has turned to antitrust law to cure the perceived excesses of the largest and most successful technology firms, Sagers reminds us that there is no gain without pain when it comes to industrial revolutions. A society that does not address this pain through social policies will quickly lose popular support for antitrust laws and competition. -- Andrew I. Gavil, coauthor of The Microsoft Antitrust Cases: Competition Policy for the Twenty-first CenturySagers takes his readers on a fascinating journey through the history of the book industry… This essay cannot do justice to the in-depth, complex, and captivating narrative strands that Sagers weaves together to take us [to the Apple case]. Indeed, by the time the readers get to the conspiracy itself, Sagers’s rich analysis makes it look like an almost unavoidable result of the longstanding tensions in the relevant industries and in the law. -- Guy A. Rub, Professor of Law, The Ohio State UniversitySagers is a wonderful storyteller. His narrative is both rich in relevant factual information and entertaining stories. The reader will come away from this book with a much deeper understanding of the book industry, the role of antitrust in American society, and the relationship between the two. -- Abraham L. Wickelgren, Professor of Law, University of TexasIt just blew me away… This is one of the best academic books I’ve read in a long time. -- Brian L. Frye, Professor of Law, University of Kentucky, and host of the podcast Ipse Dixit

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Book SynopsisThomas Piketty’s Capital in the Twenty-First Century showed that capitalism, left to itself, generates deepening inequality. In this audacious follow-up, he challenges us to revolutionize how we think about ideology and history, exposing the ideas that have sustained inequality since premodern times and outlining a fairer economic system.Trade ReviewIn an election cycle where the political discourse has been thoroughly shaped by Piketty’s work, his new book feels especially urgent. * GQ *Ventures to trace the origin of inequalities and propose methods of eradication…Lands on the world’s doorstep in the midst of an unfolding economic crisis, when the shutdown required to prevent the spread of the coronavirus is sending the world into a spiraling recession…Piketty has put forward proposals for long-term, permanent change, but impressively, they would also be immediately useful in speeding along the recovery. * New Republic *Nothing less than a global history of inequality and the stories that societies tell to justify it, from pre-modern India to Donald Trump’s U.S. * Wired *Might become even more politically influential than the French economist’s 2013 overview of inequality, Capital in the Twenty-First Century…Piketty explains why this could be the moment for a turn to equality, and which policies could make that happen. -- Simon Kuper * Financial Times *Thomas Piketty’s books are always monumental…In the same way that Capital in the Twenty-First Century has transformed how economists look at inequality, Capital and Ideology will transform the way political scientists look at their own field. -- Branko Milanovic * ProMarket *An astonishing experiment in social science, one that defies easy comparison. In its ambition, obsessive testimony and sheer oddness, it is closer to the spirit of Karl Ove Knausgård than of Karl Marx…Will be impossible to ignore. -- William Davies * The Guardian *A book of remarkable clarity and dynamism. Drawing lessons from a breathtaking survey of different historical experiences, it teaches us that nothing is inevitable, that there exist a whole range of possibilities between hypercapitalism and the disasters of the communist experience. It’s up to us to make our future. Let’s roll up our sleeves. -- Esther Duflo, Nobel Laureate in Economic SciencesA believer in how capitalism can be used to eradicate inequality, Piketty argues for new taxation systems that might minimize the gap between the one percent and the underserved. Whether he’s right or wrong, his dazzling intellect makes for thought-provoking reading. * Washington Post *Boldly proclaims that inequality is ultimately rooted in ideology…Offer[s] a global history of how different political systems have justified inequality, and how these systems have been transformed over time. * The Nation *A magisterial history of economic development as seen through the prism of inequality. It is breathtaking in its scholarship and sweep (almost no corner of the globe is left unvisited) and incandescent in its insights…[Piketty] casts his discerning gaze on history’s sweep, not just to understand the world but also to transform it. -- Arvind Subramanian * Foreign Affairs *Spenglerian in scope, Piketty’s critique reaches far back in history and across the globe…It’s an admirable corrective to the usual Eurocentrism of Western economists…Piketty has modified his thinking since his previous opus. Rather than imply that rising inequality is a problem inherent in capitalism, he now suggests that the levels of inequality we get are the ones we countenance—that they’re entirely a matter of political and ideological choices. -- Idrees Kahloon * New Yorker *Packed with fascinating detail and vast quantities of skillfully assembled data…A systematic examination of inequality across time and place, and of the ideas the powerful have used to justify it…We learn a good deal about the lengths to which the powerful will go to assert their privilege (and the often outrageous injustice this entails), and about the only things that have ever thwarted them: mass violence and progressive taxation…Whether or not his revolution without revolutionaries can get us where we need to go, his analysis of how we got here demands our attention. -- Geoff Mann * London Review of Books *Seven years after the publication of his best-selling Capital in the Twenty-First Century, Piketty returns with a global overview to understand some of the most pressing economic and social issues of our time. * New York Times Book Review *The breadth of Piketty’s learning is extraordinary…Politicians who hope for more than a short durée in power would do well to digest the main thesis. -- Howard Davies * Literary Review *Both a history of the world and a theory of history. Every society is unequal, and therefore constitutes an ‘inequality regime’ maintained not solely by force but also by ideology… Most of the book is a history of how those ideologies have helped bolster social structures characterized by extreme inequality, from feudal and slave societies through colonial regimes to the hypercapitalist world of today…The bleakly unequal impact of the coronavirus pandemic on rich and poor may reinforce that discontent. -- James Kwak * Washington Post *A work of political economy in the broadest sense—a staggeringly ambitious effort attempting to synthesize centuries of history, economics, and politics into one grand picture…A fascinating, essential study both of where we came from and of two possible paths forward: how we might create a better future for all human society, and the dark possibilities should we fail. -- Ryan Cooper * The Week *Mixes history and polemic—case studies from modern Sweden and Soviet Russia alongside a genuine political program to help mitigate, at least, the cruelest inequities highlighted in his first book. -- David Wallace-Wells * New York Magazine *More like a history of the world than an economics book…An awe-inspiring breadth of data is tapped…And after dives into such detail, unlike the average data aficionado, Piketty always soars back up to the big picture. On occasion, a blistering insight can cut through reams of history. -- Tom Clark * Prospect *Bears little resemblance to anything else written by contemporary economists, or even those of one or two generations past. The tendency in economics now—as well as in a great deal of public discussion—is to view the economy as a natural force, existing independently from our ideas about what it is and how it ought to work. This book systematically demolishes that self-serving conceit…Makes clear that a political and ideological revolution is necessary in order to achieve a new era of economic justice. -- Marshall Steinbaum * Boston Review *[In] Piketty’s magisterial survey of the central role that ideas and discourse have played in alternately justifying and questioning societies’ inequities, we are reminded that political uprisings, financial collapses, and wars—think the French Revolution, the Great Depression, and World War II—are what drive change. -- Scott LaPierre * Harvard Business Review *As in his previous book, Piketty’s quest to quantify and track inequality is grounded in a rigorous analysis of data…In Capital and Ideology, he also seeks to better explain how systems of inequality persist and justify themselves…Ultimately as much a work of history as of economics…Piketty’s latest work offers us plenty of valuable ideas. * The Nation *[A] sweeping survey of the root causes of inequality…Loaded with rich comparative data, much of which has been compiled for the first time. This information includes not only standard economic fare, such as data on growth and, of course, inequality, but also political data on voting behavior, stratified by class. This allows Piketty to show how political alliances were forged in the 1980s and ’90s in support of a global order that fostered inequality. -- Katharina Pistor * Public Books *Just as powerful [as Capital in the Twentieth-First Century]. * Fast Company *Has virtues that many post-Marxist critiques lack…Piketty’s sweeping scholarship enhances, rather than obscures, his central argument. * The Economist *[Has] the potential to start an important debate about how to restructure society in a more egalitarian and ecologically sustainable way. -- Ingrid Harvold Kvangraven * Nature *Ranges widely across continents and centuries in its analysis of economic inequality and the ways it is justified. -- Matthew Reisz * Times Higher Education *At its heart, Capital and Ideology seeks to understand why the less advantaged masses, who’ve seen their share of the economic pie drastically shrink in recent decades, don’t unite to press for sweeping political changes that could bring economic justice…Given the starring role that inequality has assumed in today’s political discourse—in no small part due to his previous book—Piketty’s latest effort is very welcome. * Foreign Policy *Thomas Piketty’s magisterial global and connected history takes us on a whirlwind journey across the world during the past 500 years to show how shifting ideas and politics have shaped a wide variety of inequality regimes. Fully embracing the power of historical analysis, Capital and Ideology emboldens us to reimagine the possibilities of our present. Enormously rich in argument and evidence, this tour de force by one of the most influential thinkers of our age is a must-read for anyone grappling with the dilemmas of our present. -- Sven Beckert, author of Empire of Cotton: A Global HistoryThomas Piketty’s new book starts where Capital in the Twenty-First Century left off, revealing how inequality was allowed to develop into an acceptable condition, now and in the past, in the West and in the rest of the world. Still, not all is bad: if inequality is a social construct, that means it can also be undone. Based on monumental research, Capital and Ideology is an appeal to rethink capitalism—if not for today’s politicians then perhaps for tomorrow’s revolution! -- Reinier de Graaf, Office for Metropolitan Architecture, author of Four Walls and a Roof[A] wide-ranging historical survey of ‘inequality regimes’—dogmas that justify hierarchies of wealth and power…This ambitious manifesto will stir controversy, but also cement Piketty’s position as the Left’s leading economic theorist. * Publishers Weekly (starred review) *A significant work. The author interrogates the principal forms of economic organization over time, from slavery to ‘non-European trifunctional societies,’ Chinese-style communism, and ‘hypercapitalist’ orders, in order to examine relative levels of inequality and its evolution…A deftly argued case for a new kind of socialism that, while sure to inspire controversy, bears widespread discussion. * Kirkus Reviews (starred review) *Outlines a fairer economic system for the world. -- Claire Warren * Management Today *The journey through this book is long but rewarding. Piketty’s historical analysis of inequality around the world is fascinating, and even the wishful thinking underlying his ‘participatory socialism’ makes for interesting reading. -- Willem H. Buiter * Project Syndicate *[Piketty] expand[s] his investigations across the globe and over long periods of history to reveal how ideologies fuel inequalities. -- Ashish Mehta * The Wire *Focuses on the relationship between inequality and the way in which the concept of private property has evolved over time…Fascinating analysis. -- Thomas Fazi * American Affairs *This is an immense work of scholarship on the history of inequality. It also contains a penetrating analysis of contemporary politics, especially the failures of what Piketty calls the ‘Brahmin Left,’ along with a radical new program of socialist egalitarianism. -- Martin Wolf * Financial Times *A truly monumental work, reviewing trends in income and wealth inequality across of host of nations and eras, and attempting to find some overarching explanation for them. -- Charles Steindel * Business Economics *A remarkable achievement. -- Geoffrey Wood * Central Banking *An important contribution by Piketty. He has enlarged the scope of economic analysis appropriately to include political power and ideology. The historical record he presents is greatly enriching. -- Stephanie Seguino * Forum for Social Economics *Adds something vital to the author’s decades-old, impressively data-rich indictment of unequal wealth accumulation. This book proposes a lively, tendentious, debatable account of the ideologies that propel different property regimes—as well as a nuanced genealogy of how such ideologies can change. -- John Plotz * Public Books *Worth the wait. Like Capital in the Twenty-First Century, it is an empirical tour de force that ends with a new policy proposal to reduce inequality…But bringing the issue of ideology and power into the debate over rising inequality is the truly great achievement of Capital and Ideology…Piketty has distanced himself from standard economics and provides a multidisciplinary, historical explanation of inequality. -- Steven Pressman * Dollars & Sense *Piketty’s own historical and cross-national analysis is deeply informed by his concern with contemporary injustices, notably income and wealth inequities but also the ecological crisis and resurgent, racist or ‘social-nativist’ populisms. -- Elaine Coburn * International Sociology Review *His magnum opus…It is difficult not to agree with Piketty’s compelling thesis—that inequality is a ‘man-made’ construct rooted in ideologies that have historically been dominated by the elite…Government officials and policymakers would find it useful in charting new economic policies for the future. -- Omar Darwazah * Arab Studies Quarterly *The scope of Piketty’s inquiry sets his book apart from most work by economists on inequality. -- Roger E. Backhouse * Society *An encyclopaedic, rewarding work that merits thoughtful engagement…Piketty successfully puts forward a superb, data-driven normative defense of democratic socialism. The principles that Piketty proposes—fair tax, fair trade, clean air and, above all, a democratic economy—have a huge amount to commend them, and make this book an essential read. -- Ewan McGaughey * LSE Review of Books *

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Book SynopsisThe United States has two separate banking systems one serving the well-to-do and another exploiting everyone else. Deserted by banks and lacking credit, many people are forced to wander through a Wild West of payday lenders and check-cashing services thanks to the effects of deregulation in the 1970s that continue today, Mehrsa Baradaran shows.

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Book SynopsisFor the greater part of recorded history, the most successful and powerful states were autocracies; yet the world is increasingly dominated by democracies. This book provides a novel answer for how and why this political transformation occurred. It presents a history that starts in biblical times.Trade Review"Remarkable... [This] book could scarcely be more comprehensive... Since Macdonald was for many years a British investment banker, he has a hands-on feel for his subject. But he has not allowed his technical expertise to get in the way of his lucid prose: his argument is readily accessible to a lay reader. And that argument is convincing."--Gordon S. Wood, New York Review of Books "A fine history of public finance from ancient Greece and Persia to the present."--Richard N. Cooper, Foreign Affairs "Written clearly and accessibly... A challenging yet fascinating work [that] could hardly be more timely."--Michelle Wucker, Washington Post "Macdonald has something exciting to teach all serious students of history-that the evolution of democratic institutions is not just about taxation and representation but also about investment."--Niall Ferguson, author of The Cash Nexus "This book begins with Moses, ends with World War II, and covers just about every important development in public finance in between. Yet, for all his range, MacDonald offers a simple, stunning thesis: Democracy arises from public debt."--James Galbraith, DemocracyTable of ContentsIntroduction: THE FINANCIAL ROOTS OF DEMOCRACY 3 CHAPTER 1. TRIBES AND EMPIRES 10 Rags to Riches 10 Barbarians at the Gate 18 The Free Men Fight Back 24 Greeks and Their "Gifts" 31 Civic Debt 36 Kings and Tyrants 42 The Carthaginian Wars 45 Imperium Romanum 51 Breakdown 56 CHAPTER 2. CITIZEN CREDITORS 67 The Return of the City-State 67 La Serenissima 72 La Superba 77 The Monte Comune 81 The Twilight of Repayable Taxes 84 San Giorgio 94 Selfish Citizens 100 CHAPTER 3. SOVEREIGN DEBT 105 Kings and Merchants 105 The Treasure of the Indies 115 Antwerp and Lyons 122 Serial Bankruptcy 128 Folie des Offices 138 CHAPTER 4. RESISTANCE TO THE HEGEMON 148 The League of Cities 148 Regicide 157 Glorious Revolution 166 CHAPTER 5. THE CHIMERA 179 Le Roi Soleil 179 Post-bellum Depression 185 The Chimera 190 The Bubble 205 CHAPTER 6. THE DILEMMA 220 Mopping Up 221 The Ruling Class 227 The Dilemma 239 The Limits of Absolutism 255 Aristocratic Revolution 266 CHAPTER 7. REVOLUTION 272 A New World 277 The First and Second American Revolutions 289 Enemies of the People 307 The Elephant and the Whale 334 CHAPTER 8. BOURGEOIS CENTURY 347 Pax Britannica 348 The Heyday of Bourgeois Finance 355 Ties of Identity 366 A Nation of Rentiers 377 Greenbacks and 5-20s 384 CHAPTER 9. NATIONS AT ARMS 400 Total War (Part I) 400 The Settlement of Accounts (Part I) 413 Total War (Part II) 435 Totalitarian War 445 The Settlement of Accounts (Part II) 456 Epilogue: THE END OF THE AFFAIR 465 A Note on Currencies 477 Glossary 483 Notes 487 Bibliography 523 Acknowledgments 545 Index 547

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Book SynopsisPresents a historical and sociological account of how, by the late 1960s, three small Italian towns had come to lead the world in the production of gold jewelry - even though they had virtually no jewelry industry less than a century before, and even though Italy had western Europe's most restrictive gold laws.Trade Review"I hope this book will be widely read, not only by people interested in the Italian industrial districts but by all those who want to know more about the social dimension of markets."--Vera Zamagni, American Historical Review "Dario Gaggio's study of three Italian jewelry-making towns is a noteworthy contribution to the literature on Italy's postwar economic 'miracle'."--Tristan Kirvin, Continuity and Change "Dario Gaggio's book, In Gold We Trust, is the twentieth-century story of the important Italian industrial districts active in the manufacture of jewelry, and offers a significant and precious contribution to our understanding of the phenomenon."--Franco Amatori, Enterprise and Society "[T]his theoretically sophisticated, methodologically innovative, and empirically well-grounded study confidently challenges or complicates longstanding assumptions about the evolution of modern industry, structural analyses of social networks, and traditional narratives of successful or failed modernization on the Italian peninsula."--Anthony L. Cardoza, Technology and Culture "This is an interesting and well-written book, articulated over seven chapters and alternating between theory and historical narrative. Gaggio's use of oral history is an effective counterbalance to the drier archival material. Together, they provide a vivid picture of the multifaceted life of artisans, workers, and business owners in twentieth-century provincial Italy."--Francesca Carnevali, Business History ReviewTable of ContentsList of Tables ix Preface xi INTRODUCTION: The Political Economy of Small-Scale Industrialization in Twentieth-Century Italy 1 CHAPTER 1: The Socialists' "City of Gold": Valenza Po's Jewelry Industry from the 1890s to the Fascist Era 33 CHAPTER 2: Negotiating the Economic Miracle: Valenza Po's Jewelry Industry in the Decades after World War II 83 CHAPTER 3: From Craftsmen to Craftsmen: The Development of Vicenza's Jewelry Industry 128 CHAPTER 4: A Pyramid of Trust: The Development of Arezzo's Jewelry Industry 154 CHAPTER 5: The Epistemology of Craftsmanship: Patterns of Style and Skill Formation 204 CHAPTER 6: Constructing Locality: The Jewelry Towns, the International Market, and the Italian State 245 CHAPTER 7: Between Development and Decline: Jewelry Work from an International Perspective 279 Conclusion 321 Index 333

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Book SynopsisHow much credit can be given to entrepreneurship for the unprecedented innovation and growth of free-enterprise economies? This book brings together some of the world's leading economists to tackle this question, and their responses shed light on how free-market economies work - and what policies most encourage their growth.Trade Review"This book brings together an absolutely first-rate group of thinkers, including several Nobel Prize winners, who were invited to a 2003 conference spurred by the publication of William J. Baumol's The Free-Market Innovation Machine. These thought-provoking essays illustrate the potential of Baumol's framework to considerably advance our understanding of what drives entrepreneurship, innovation, and long-term economic growth."—Scott Stern, Northwestern University"This book's remarkable achievement is to gather some of the brightest minds in economics to discuss some of the most important issues in the field—innovation, entrepreneurship, and growth. It is particularly refreshing to see these topics addressed at a variety of levels and from a variety of research perspectives. The combination of microeconomists and macroeconomists, and even economic historians, is a rare instance of communication across the subfields of economics. This impressive book will be useful to both economics generalists and specialists."—Thomas Hellmann, University of British ColumbiaTable of ContentsPreface ix INTRODUCTION by Eytan Sheshinski and Robert J. Strom 1 PART I: INTRODUCTORY: THE MICROECONOMICS AND MACROECONOMICS OF GROWTH Chapter 1: On Macroeconomic Models of Free-Market Innovation and Growth by Robert M. Solow 15 Chapter 2: The Macro-context of the Microeconomics of Innovation by Kenneth J. Arrow 20 PART II: INSTITUTIONAL BASES FOR CAPITALIST GROWTH Introduction and Comments by Michael M. Weinstein 31 Chapter 3: Institutional Bases for Capitalist Growth by Douglass C. North 35 Chapter 4: Capitalism and Economic Liberty: The Political Foundations of Economic Growth by Barry R. Weingast 48 PART III: INNOVATION IN MODERN CORPORATIONS Introduction and Comments by Ying Lowrey 73 Chapter 5: Endogenous Forces in Twentieth-Century America by Nathan Rosenberg 80 Chapter 6: Interfirm Collaboration Networks: The Impact of Network Structure on Rates of Innovation by Melissa A. Schilling and Corey Phelps 100 PART IV: THE CONTINUING ROLE OF INDEPENDENT INNOVATORS AND ENTREPRENEURS Introduction and Comments by Sylvia Nasar 135 Chapter 7: The Small Entrepreneur by Boyan Jovanovic and Peter L. Rousseau 140 Chapter 8: Toward Analysis of Capitalism's Unparalleled Growth: Sources and Mechanism by William J. Baumol 158 PART V: DISSEMINATION OF TECHNOLOGY AND THE PATENT SYSTEM Introduction and Comments by Edward N. Wolff 181 Chapter 9: Patents, Licensing, and Entrepreneurship: Effectuating Innovation in Multi-invention Contexts by Deepak Somaya and David J. Teece 185 Chapter 10: The Market for Technology and the Organization of Invention in U.S. History by Naomi R. Lamoreaux and Kenneth L. Sokoloff 213 PART VI: INNOVATION AND TRADE Introduction and Comments by Yochanan Shachmurove 247 Chapter 11: Innovation and Its Effects on International Trade by Ralph E. Gomory and William J. Baumol 261 Chapter 12: Innovation, Diffusion, and Trade by Jonathan Eaton and Samuel S. Kortum 276 PART VII: FINANCE AND INNOVATION IN THE FREE-MARKET ECONOMY Introduction and Comments by Alan S. Blinder 303 Chapter 13: Radical Financial Innovation by Robert J. Shiller 306 Chapter 14: Finance and Innovation by Burton G. Malkiel 324 PART VIII: TOWARD SOME LESSONS Introduction and Comments by Robert J. Strom 339 Chapter 15: The Economic Performance of Nations: Prosperity Depends on Dynamism, Dynamism on Institutions by Edmund S. Phelps 342 Chapter 16: Pharmaceutical Patenting in Developing Countries and R&D by Eytan Sheshinski 357 Contributors 367 Index 369

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Book SynopsisTraces the economic and historical forces that gave rise to very distinctive regional approaches to creating wine. This book includes chapters on Europe's cheap commodity wine industry; the markets for sherry, port, claret, and champagne; and, the wine industries in California, Australia, and Argentina.Trade ReviewWinner of the 2012 OIV Award in History, International Organisation of Vine and Wine "[T]his book ... has a decidedly, and fittingly, scholarly tone... There are some fascinating historical facts, including the widespread nature of fraud in the wine business."--Lettie Teague, Wall Street Journal "Anyone interested in the economic history of wine and drink should read this book."--Tyler Cowen, Marginal Revolution "[T]here can be no doubt that wine buffs whose interest in what they drink stretches rather further than the supermarket price and the colour of the stuff in the bottle (why read the label?) will find this book fascinating."--Books4Spain.com "In writing Creating Wine, James Simpson has done a great service to those who are interested in how a traditional industry inherited the modern, highly regulated, market structure we observe in places like France today. The book is important and carefully written. Anyone interested in wine or the interaction between markets and modern democratic states should buy it."--EH.Net Reviews "Given Simpson's excellent job in describing the evolution of the industry, this book should find a large audience."--Choice "This is a wonderful book for vine professionals, for wine professionals and for students of economic history alike, including for casual students."--Jacques Delacroix, Enterprise & Society "[This] is the first book to trace the economic and historical forces that gave rise to very distinctive regional approaches to creating wine."--World Book Industry "Creating Wine was a delight to read. Simpson has chosen to study a pivotal time in wine production, dictated not only by changing market structure but also various supply shocks and societal factors. While many of us may have some idea of the broad issues that existed in the market for wine around this time, Simpson has provided a thoroughly researched, comprehensive piece of work that will satisfy anyone from novice to expert."--Tim Davis, Australian Journal of Agricultural and Resource "Creating Wine represents, perhaps, the single greatest achievement in advancing our understanding of the globalizing wine trade during its most formative decades (1840-1914)."--Kevin Goldberg, European History QuarterlyTable of ContentsList of Illustrations xi List of Tables xiii Acknowledgments xv Maps xvii Introduction xxxi Weights, Measures, and Currencies xxxix Acronyms and Abbreviations xli Part I: Technological and Organizational Change in Europe,1840-1914 1 Chapter 1: European Wine on the Eve of the Railways 3 What Is Wine? 3 Family Producers 7 The Production of Grapes prior to Phylloxera 11 Traditional Wine-Making Technologies 17 Markets, Institutions, and Wine Consumption 21 The Development of Fine Export Wines 24 Chapter 2: Phylloxera and the Development of Scientific Viti-Viniculture 30 The Growth in Wine Consumption in Producer Countries 31 Phylloxera and the Destruction of Europe's Vines 34 Phylloxera and the International Response in Spain and Italy 41 Wine Making, Economies of Scale and the Spread of Viticulture to Hot Climates 48 La Viticulture Industrielle and Vertical Integration: Wine Production in the Midi 53 Chapter 3: Surviving Success in the Midi: Growers, Merchants, and the State 58 Phylloxera and Wine Adulteration 59 Politics, Phylloxera, and the Vineyard during France's Third Republic 63 The Midi: From Shortage to Overproduction 65 From Informal to Formal Cooperation: La Cave Cooperative Vinicole 71 Part II: The Causes of Export Failure 77 Chapter 4: Selling to Reluctant Drinkers: The British Market and the International Wine Trade 81 The Political Economy of the Wine Trade in Britain prior to 1860 83 Gladstone and the Rise and Decline in Consumption in the Late Nineteenth Century 87 The Retail Market and Product Adulteration 92 Who Controls the Chain? Experiments at "Buyer-Led" Commodity Chains 98 Part III: Institutional Innovation: Regional Appellations 107 Chapter 5: Bordeaux 111 Claret, Trade, and the Organization of Production 112 The 1855 Classification and the Branding of Claret 115 Supply Volatility, Vine Disease, and the Decline in Reputation of Fine Claret 120 Response to Overproduction: A Regional Appellation 126 Chapter 6: Champagne 132 The Myth of Dom Perignon and the Development of Champagne 134 Economies of Scale, Brands, and Marketing 138 The Response to Phylloxera 141 Organization of a Regional Appellation 145 Chapter 7: Port 154 Port and the British Market 155 Product Development and the Demands of a Mass Market 159 Rent Seeking, Fraud, and Regional Appellations 164 Chapter 8: From Sherry to Spanish White 171 The Organization of Wine Production in Jerez 172 Sherry and the British Market 178 Product Innovation and Cost Control 183 Wine Quality and the Demand for a Regional Appellation 187 Part IV: The Great Divergence: The Growth of Industrial Wine Production in the New World 191 Chapter 9: Big Business and American Wine: The California Wine Association 195 Creating Vineyards and Wineries in a Labor-Scarce Economy 197 Production Instability and the Creation of the California Wine Association 204 The California Wine Association and the Market for California's Wines 209 Chapter 10: Australia: The Tyranny of Distance and Domestic Beer Drinkers 220 Learning Grape Growing and Wine Making 221 Organization of Wine Production 225 In Search of Markets 230 Chapter 11: Argentina: New World Producers and Old World Consumers 240 Establishing the Industry 242 Redefining the Industry 248 The Limits to Growth and the Return to Crisis 256 Conclusion 263 Old World Producers and Consumers 263 New World Producers and Consumers 267 The Wine Industry in the Twentieth Century 270 Appendix 1: Vineyards and Wineries 273 A.1. Area of Vines and Output per Winery in France, 1924 and 1934 274 A.2 Number of Growers and Area of Vines by County, California, 1891 276 A.3. Winery Size in the Midi and Algeria, 1903 278 Appendix 2: Wine Prices 279 A.4. Farm and Paris Wine Prices, July 1910 279 A.5. Price List, Berry Brothers, London, 1909 281 Glossary 291 Bibliography 293 Index 313

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Book SynopsisBased on evidence about the development of the American states from the mid-nineteenth to the late twentieth century, this book documents the mechanisms through which geographical and historical conditions - such as climate, access to water transportation, and early legal systems - impacted political and judicial institutions and economic growth.Trade Review"In this book, economists Berkowitz and Clay use variation across U.S. states as a sort of historical economic laboratory. Drawing on a wide array of quantitative and qualitative data sources, they lay out and document the connections among a number of geographic and climatic characteristics and the extent of political competition that emerged in each state... This is an important contribution to the literature on institutional economics, economic history, and economic development."--Choice "Berkowitz and Clay deserve considerable credit for taking up the difficult challenge of applying the ES (Engerman-Sokoloff) and AJR (Acemoglu-Johnson-Robinson) approach to the experience of U.S. states. Certainly anyone else contemplating something similar will need to study this book very carefully because they will have to grapple with some of the same issues faced by the authors. The book is timely, well written, and the authors have amassed an interesting body of data."--Robert A. Margo, EH.Net "Berkowitz and Clay build a compelling empirical case for their broad argument... The Evolution of a Nation is an important and useful work, one that will be of interest to economists, historians, and political scientists with an interest in American political and economic development."--Thomas Oatley, Journal of Regional Science "The strength of The Evolution of a Nation lies in the collected historical and recent data. All these are sufficiently displayed on charts, graphs, appendices, which cover over eighty pages in the body of the book. The meticulously written introduction and overview provide a methodological model to those for ongoing research. Complying with the expectations of the authors, the book stands at the intersection between economics, history, law and politics and can be beneficial within the classroom setting of these disciplines at undergraduate and graduate levels. Furthermore, as it presents stimulating discussions and raises new questions about law, legal intuitions, economic growth, it can be a reference book for the years to come in historical and sociological studies."--N. Sibel Gu?zel, European Journal of American StudiesTable of ContentsAcknowledgments ix Chapter One: Introduction 1 Chapter Two: Legal Initial Conditions 16 Chapter Three: Initial Conditions and State Political Competition 60 Chapter Four: The Mechanism 92 Chapter Five: State Courts 133 Chapter Six: Legislatures and Courts 169 Chapter Seven: Institutions and Outcomes 192 References 203 Index 223

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Book SynopsisIn the last 2 centuries, agriculture has been an outstanding success story. Agriculture has fed population with a variety of products at falling prices, even as it has released a number of workers to the rest of the economy. This book explains how these feats were accomplished. It covers various factors that have affected agricultural performance.Trade Review"In Feeding the World, Giovanni Federico considers agricultural development over the past 200 years an outstanding success story... Feeding the World will be of great interest to economists, development specialists and policymakers, and all economic historians should read it. Methodologically, it is an excellent example of a quantitative economic history, grounded in theory but sensitive to empirical realities worldwide. Substantively, it provides an essential context for understanding economic development over the past 200 years on a global scale."--Mark Overton, Times Higher Education Supplement "This book provides everything that a mainstream economic history or agricultural history course would want to cover... [T]he book [is] ... useful and highly recommended."--Thomas R. DeGregori, Journal of Economic Issues "The range, stance, and clarity of this hugely impressive book make it ideally suited to classroom use at advanced undergraduate or graduate level. It deserves to be widely read, in university libraries and beyond."--Cormac O Grada, Agricultural History Review "Giovannia Federico should be congratulated for his efforts in providing what is clearly an impressive synthesis, constituting a significant contribution to our understanding of the changing role and the revolution that has taken place in agricultural production since 1800. It will appeal to a wide readership, encompassing not only the academic community but also lay readers who are interested in how feeding the industrially advanced countries of the world has been successfully achieved."--John Martin, The Historian "I recommend this book for those who want to gain a general understanding of the dynamics of world agriculture and who are looking for scientific texts in the field. The rich bibliography can satisfy many people's curiosity in this respect."--Walter Leimgruber, European LegacyTable of ContentsList of Illustrations ix List of Tables ix Preface xiii Chapter One: Introduction 1 Chapter Two: Why Is Agriculture Different? 5 2.1 Introduction 5 2.2 Agriculture and the Environment: An Uneasy Relationship 5 2.3 Factor Endowment and the Characteristics of Agriculture 13 Chapter Three: Trends in the Long Run 16 3.1 Introduction 16 3.2 Output 16 3.3 Prices 21 3.4 The Composition of Agricultural Output 26 3.5 Trade 28 Chapter Four: Patterns of Growth: The Inputs 31 4.1 Introduction 31 4.2 Land 31 4.3 Capital 40 4.4 Labor 56 4.5 Conclusion: Factor Endowment and Factor Prices in the Long Run 64 Chapter Five: The Causes of Growth: The Increase in Productivity 69 5.1 Introduction 69 5.2 The Productivity of Land and Labor 70 5.3 The Total Factor Productivity 74 5.4 Conclusion: On the Interpretation of Total Factor Productivity Growth 82 Chapter Six: Technical Progress in Agriculture 83 6.1 Introduction: Productivity Growth and Technical Progress 83 6.2 The Major Innovations 84 6.3 The Macroeconomics of Innovations: Factor Prices and Technical Progress 93 6.4 The Microeconomics of Agricultural Innovation: Appropriability, Complementarity, Environment, and Risk 101 6.5 The Microeconomics of Agricultural Innovation: Research Institutions and Technical Progress 105 6.6 Conclusion: On the Causes of Technical Progress 114 Chapter Seven: The Microeconomics of Agricultural Institutions 117 7.1 Introduction: What Are the Institutions, and Why Should We Care about Them? 117 7.2 Property Rights 118 7.3 The "Structure": Matching Land and Labor 121 7.4 Finding the Money: Formal and Informal Credit 128 7.5 The Co-operative: The Best of All Possible Worlds? 133 7.6 Conclusion: Is There an "Ideal" Farm? 136 Chapter Eight: Agricultural Institutions and Growth 143 8.1 Introduction 143 8.2 Prelude: The Establishing of Modern Property Rights 144 8.3 Meddling with Property Rights: Land Reform and Other Structural Interventions 149 8.4 The "Structural" Change in the Long Run 152 8.5 The Development of Markets 160 8.6 Self-help: The Growth of the Co-operative Movement 168 8.7 Institutions and Agricultural Growth: The Creation of Property Rights and "Structural" Interventions 172 8.8 Institutions and Agricultural Growth: Landownership, Farm Size, and Contracts 177 8.9 Institutions and Agricultural Growth: The Development of Markets 181 8.10 Conclusion: Did Institutions Really Matter? 186 Chapter Nine: The State and the Market 187 9.1 Introduction: On the Design of Agricultural Policies 187 9.2 Before 1914: The Era of Laissez Faire 189 9.3 The Interwar Years: The Great Discontinuity 191 9.4 The OECD Countries after 1945: The Era of Surpluses 196 9.5 The Less Developed Countries after Independence: The Green Revolution and the "Development" Policies 201 9.6 The Socialist Countries 205 9.7 On the Effects of Agricultural Policies 211 9.8 Conclusion: The Political Economy of Agricultural Policies 215 Chapter Ten: Conclusions: Agriculture and Economic Growth in the Long Run 221 10.1 Fifteen Stylized Facts 221 10.2 Agriculture and Economic Growth: Some Theory 222 10.3 Agriculture and Economic Growth: Debates and Historical Evidence 226 10.4 Concluding Remarks: A Look to the Future 231 Statistical Appendix 233 Notes 251 Bibliography 325 Index 381

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Book SynopsisDescribes the remarkable creative renaissance in economics, how economic thinking is being applied to the paradoxes of everyday life. This title incorporates the developments in the field, including the rise of behavioral finance, the failure of carbon trading, and the growing trend of government bailouts.Trade ReviewPraise for Princeton's previous editions: "Coyle's style is very accessible, and this book is an excellent survey of the frontiers of economics for the general reader... The Soulful Science can be recommended highly."--Paul Ormerod, Times Higher Education Supplement Praise for Princeton's previous editions: "The simple aim of The Soulful Science is to describe what economists do, how the field has changed in the past 10 years or so, and why you should care. It succeeds admirably."--Financial Times Praise for Princeton's previous editions: "This is an astonishing book: beautifully written."--Andrew Hilton, Financial World Praise for Princeton's previous editions: "Fluently written with the balance of a good novel, the result is a tour de force."--Donald Anderson, Business Economist Praise for Princeton's previous editions: "The Soulful Science is ... a grand whirlwind tour of modern economics, with fascinating vignettes of individual economists. It's a trip worth taking."--David Colander, American Scientist "Coyle is a talented writer and her book shows that good communication skills, to and with readers, assure wide appeal to almost the entire spectrum of economic thinkers."--Liviu Drugus, European LegacyTable of ContentsAcknowledgements vii Introduction 1 Prologue to Part1 9 Part 1. The Mysteries of Wealth and Poverty 11 Chapter One: The History Detectives 13 Chapter Two: What Makes Economies Grow? 39 Chapter Three: How to Make Poverty History 68 Prologue to Part 2 103 Part 2. Are Individuals Free to Choose? 105 Chapter Four: What's It All About? 107 Chapter Five: Economics for Humans 128 Chapter Six: Information and Markets 156 Prologue to Part 3 185 Part 3. Nature, Markets, and Society 187 Chapter Seven: Murderous Apes and Entrepreneurs 189 Chapter Eight: Economy versus Society 213 Chapter Nine: Why Economics Has Soul 242 References 273 Index 289

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Book SynopsisExamines the religion's role in the creation of a market economy in early America. Focusing on the economic culture of New England, this title views commerce through the eyes of Boston merchants and reveals how merchants built a modern form of exchange out of the transitions in the puritan understanding of the meaning of New England.Trade ReviewWinner of the 2011 Philip Schaff Prize, American Society of Church History Shortlisted for the 2011 American Academy of Religion Award for Excellence in the Historical Study of Religion One of Choice's Outstanding Academic Titles for 2010 "Valeri's reading of theological sources is so satisfying because he is a subtle, careful reader; he resists the temptation to smooth away contradictions, or to oversimplify; indeed, he seems allergic to polemic it is thus not surprising when, at the end of the book--just when the author might be expected to tip his hand about what all this market accommodation means--Valeri is maddeningly even-handed."--Lauren F. Winner, Books & Culture "I found this book to be an outstanding contribution to our understanding of the working out of the Protestant ethic in colonial New England. Therefore, it is a major contribution to our understanding of American economic morality."--Donald E. Frey, EH.Net "Students of early New England will find this indispensable; it should also appeal to anyone interested in the relationship between religion and the larger culture."--Choice "[T]he effectiveness with which Valeri utilizes the small-scale cultural world of Puritan Massachusetts in the colonial era in order to examine developments that have wider ramifications, indicates that, as with Perry Miller and so many others, that time and place is still a fruitful laboratory for thick analysis of religiocultural change."--Dewey D. Wallace, Jr., Interpretation "Valeri's well-written case studies bring many rewards to the reader. They forcefully demonstrate that no one can understand the changing culture of early America without paying attention to religion."--R. Laurence Moore, Journal of Church History "The book is noteworthy as much for its method as for its conclusions. Valeri's inferences rise convincingly from his methodology, analysis, and rhetoric... [H]andled artfully in an elegant narrative."--Barry Levy, American Historical Review "This book will certainly change the way both Puritan theology and economics are viewed and is highly recommended."--Suzanne Geissler, Anglican and Episcopal History "An important study... [T]his stellar work breaks important new ground on the complex drama of economics and religion in early modern America."--Robert E. Brown, Religious Studies ReviewTable of ContentsList of Illustrations ix Preface xi INTRODUCTION: Heavenly Merchandize 1 CHAPTER ONE: Robert Keayne's Gift 11 Keayne, the Merchant Taylors' Company, and Civic Humanism 14 Keayne and the Godly Community in England 26 CHAPTER TWO: Robert Keayne's Trials 37 Boston's First Merchants 39 Puritan Discipline in England 50 Discipline and Trade in Early Boston 57 CHAPTER THREE: John Hull's Accounts 74 Hull and the Expansion of New England's Market 76 Hull's Piety and Changes in Church Discipline 83 Jeremiads, Providence, and New England's Civic Order 96 CHAPTER FOUR: Samuel Sewall's Windows 111 Sewall's and Fitch's Problems with Money 114 The Politics of Empire 122 Political Economy, Monetary Policy, and the Justification of Usury 134 Merchants' Callings and the Campaign for Moral Reform 157 Religious Conviction in the Affairs of Sewall and Fitch 168 CHAPTER FIVE: Hugh Hall's Scheme 178 Hall and Boston's Provincial Merchants 181 Rational Protestantism and the Meaning of Commerce 200 Gentility, the Empire, and Piety in the Affairs of Hall 220 EPILOGUE: Religious Revival 234 Samuel Philips Savage, Isaac Smith, and Robert Treat Paine 235 Social Virtue and the Market 240 Conclusion 248 Notes 251 Index 321

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Book SynopsisDescribes how the traditional energy economy of medieval and early modern Europe was marked by stable or falling per capita energy consumption, and how the First Industrial Revolution in the eighteenth century - fueled by coal and steam engines - redrew the economic, social, and geopolitical map of Europe and the world.Trade Review"Employing economic theory and growth accounting to illuminate the linkages between energy use and economic activity and supporting their argument with extensive quantitative evidence, the authors make a compelling case that modern economic growth would have been impossible without the increased energy intensity made possible by exploitation of fossil fuels. This work provides valuable historical perspectives on pressing contemporary challenges."--Choice "With many insightful graphs, plus useful explanatory boxes for the less initiated, it is highly accessible, and recommended to undergraduate students curious about the history of energy, to postgraduates specializing in a specific field, and to academics."--Roger Fouquet, Journal of Economic Literature "[T]his multi-authored effort is well structured and furnished with splendid illustrations and explanatory tables ... I would recommend the book, but with the warning that it is not an easy read due to the sheer quantity of information and analytical viewpoints it contains."-- Aurelia Mane-Estrada,European History Quarterly "Power to the People is to be welcomed. It is a valuable contribution to our knowledge of Economic History and History of Technology and will appeal both to the professional and the general reader interested in the future of humanity."--Francesc X. Barca-Salom, Environment and History "An ambitious and important analysis of the relationships between energy and economic growth in Europe over the past five hundred years."--Christopher F. Jones, Environmental HistoryTable of ContentsPreface ix CHAPTER ONE Introduction 1 CHAPTER TWO Definitions and Concepts 17 PART I Pre-Industrial Economies Paolo Malanima 35 CHAPTER THREE Traditional Sources 37 1. Energy in Premodern Societies 2. Organic Sources and Agricultures 3. Non-organic Sources 4. Seven Long-run Propositions 5. Conclusion CHAPTER FOUR Constraints and Dynamics 81 1. Population and Climate 2. Energy Scarcity 3. Saving Land 4. Saving Labor 5. Conclusion PART II The First Industrial Revolution Paul Warde 129 CHAPTER FIVE A Modern Energy Regime 131 1. The Take-off of Coal 2. Traditional Sources: Rise but Relative Decline 3. Conclusion CHAPTER SIX The Coal Development Block 159 1. The Core Innovations 2. The Growth Dynamics of the Coal Development Block 3. The Transport Revolution CHAPTER SEVEN Energy and Industrial Growth 209 1. Coal and Growth 2. Seven Long-run Propositions 3. Energy Intensity and Economic Structure 4. Conclusion PART III The Second and Third Industrial Revolutions Astrid Kander 249 CHAPTER EIGHT Energy Transitions in the Twentieth Century 251 1. The Rise of Oil and Electricity 2. Old and New in Energy Regimes 3. Conclusion CHAPTER NINE Major Development Blocks in the Twentieth Century and Their Impacts on Energy 287 1. The ICE-Oil Block 2. The Electricity Block 3. The ICT Development Block 4. Conclusion CHAPTER TEN The Role of Energy in Twentieth-Century Economic Growth 333 1. Development Blocks and GDP 2. Seven Long-run Propositions 3. Energy Intensity and Economic Structure 4. Conclusion CHAPTER ELEVEN Summary and Implications for the Future 366 1. Summing Up the Book 2.Thinking about the Future 3. Some Remarks about the Future APPENDIXES A. The Role of Energy in Growth Accounting 387 B. Decomposing Energy Intensity 1870-1970 395 C. The Impact from the Service Transition on Energy Intensity 402 D. Biased Technical Development 411 References 415 Index 451

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Book SynopsisBy 1492 the Jewish people had become a small group of literate urbanites specializing in crafts, trade, moneylending, and medicine in hundreds of places across the Old World, from Seville to Mangalore. What caused this radical change? This book presents a new answer to this question.Trade ReviewWinner of the 2012 National Jewish Book Award in Scholarship One of Jewish Ideas Daily.com's 40 Best Jewish Books of 2012 "[A]mbitious ... systematically dismantle much of the conventional wisdom about medieval Jewish history."--Jonathan B. Krasner, Forward "[W]here so many have simply taken as a given universal literacy among Jews, [Botticini and Eckstein] find that a majority of Jews actually weren't willing to invest in Jewish education, with the shocking result that more than two-thirds of the Jewish community disappeared toward the end of the first millennium... The astonishing theory presented here has great implications for both the Jewish community and the broader world today."--Steven Weiss, Slate "[E]ventually, The Chosen Few will have changed the course of history in the Middle East ... as part of a broad reinterpretation of the history of the peopling of the world, underway for a century and a half, that has begun gathering force since the 1990s... This may be the first you have heard about The Chosen Few, but I pretty much guarantee you that it will not be the last."--David Warsh, Economic Principals "[P]rovocative."--Choice "Botticini and Eckstein's simple yet sophisticated human capital analysis provides new insights into Jewish history for the fourteen centuries covered in this book... [Their] methodology yields a very convincing Cliometric analysis that we can expect to inform all future economic histories of the Jews between 70 and 1492."--Carmel U. Chiswick, EH.net "I found The Chosen Few, a book on Jewish economic history by Maristella Botticini and Zvi Eckstein, enormously enlightening and relevant to the draft-the-Haredim debate."--Shlomo Maital, Jerusalem Report "If you've ever wondered how the Chosen People survived the vagaries of history, reading The Chosen Few will give you answers you cannot find anywhere else."--Huffington Post "This is a trailblazing, original, illuminating and horizon-broadening book."--Manuel Trajtenberg, HaaretzTable of ContentsList of Illustrations xi List of Tables xiii Preface xv Introduction 1 Chapter 1 70 CE-1492: How Many Jews Were There, and Where and How Did They Live? 11 From Jesus to Muhammad (1 CE-622): A World of Farmers 15 From Muhammad to Hulagu Khan (622-1258): Farmers to Merchants 31 From Hulagu Khan to Tomas de Torquemada (1258-1492): The End of the Golden Age 44 Jewish History, 70 CE-1492: Puzzles 51 Chapter 2 Were the Jews a Persecuted Minority? 52 Restrictions on Jewish Economic Activities 52 Taxation Discrimination 58 Physical versus Portable Human Capital 59 Self-Segregated Religious Minority 61 The Economics of Small Minorities 62 Summary 65 Chapter 3 The People of the Book, 200 BCE-200 CE 66 The Two Pillars of Judaism from Ezra to Hillel (500-50 BCE): The Temple and the Torah 66 The Lever of Judaism: Education as a Religious Norm 69 The Destruction of the Second Temple: From Ritual Sacrifices to Torah Reading and Study 73 The Legacy of Rabbinic Judaism: The Mishna and Universal Primary Education, 10 CE-200 74 Judaism and Education: The Unique Link in the World of the Mishna 78 Chapter 4 The Economics of Hebrew Literacy in a World of Farmers 80 Heterogeneity and the Choices Facing Jewish Farmers circa 200 82 The Economic Theory: Basic Setup 84 The Economic Theory: Predictions 87 Life in a Village in the Galilee circa 200 through the Lens of the Theory 88 Annex 4.A: Formal Model of Education and Conversion of Farmers 89 Chapter 5 Jews in the Talmud Era, 200-650: The Chosen Few 95 An Increasingly Literate Farming Society 96 Conversions of Jewish Farmers 111 Summary 122 Chapter 6 From Farmers to Merchants, 750-1150 124 The Economics of Hebrew Literacy in a World of Merchants 125 The Golden Age of Literate Jews in the Muslim Caliphates 130 Summary 150 Annex 6.A: Formal Model of Education and Conversion of Merchants 150 Chapter 7 Educated Wandering Jews, 800-1250 153 Wandering Jews before Marco Polo 154 Jewish Migration within the Muslim Caliphates 163 Migration of Byzantine Jewry 172 Jewish Migration to and within Christian Europe 173 Migration of the Jewish Religious Center 195 Summary 200 Chapter 8 Segregation or Choice? From Merchants to Moneylenders, 1000-1500 201 The Economics of Money and Credit in Medieval Europe 202 Jewish Prominence in Moneylending: Hypotheses 209 The Dynamics of Jewish Moneylending in Medieval Europe 212 Jewish Moneylending in Medieval Italy: A Detailed Analysis 219 Attitudes toward Moneylending 232 Facts and Competing Hypotheses 237 From Merchants to Moneylenders: Comparative Advantage in Complex Intermediation 241 Annex 8.A: The Charter to the Jews of Vienna 244 Chapter 9 The Mongol Shock: Can Judaism Survive When Trade and Urban Economies Collapse? 248 The Mongol Conquest of the Muslim Middle East 249 Socioeconomic Conditions in the Middle East under the Mongols 252 Jewish Demography under Mongol and Mamluk Rule: An Experiment 254 Why Judaism Cannot Survive When Trade and Urban Economies Collapse 258 Summary 259 Chapter 10 1492 to Today: Open Questions 261 Portrait of World Jewry circa 1492 261 Jewish History, 70 CE-1492: Epilogue 264 Trajectory of the Jewish People over the Past 500 Years 266 Persistence of Jewish Occupational Structure 268 Appendix 274 Bibliography 287 Index 317

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Book SynopsisToday's global economy, with most developed nations experiencing very low inflation, seems a world apart from the "Great Inflation" that spanned the late 1960s to early 1980s. Yet, in this book, Brigitte Granville makes the case that monetary economists and policymakers need to keep the lessons learned during that period very much in mind, lest weTrade Review"[A] highly informative, well-written volume."--Choice "Granville presents stimulating ideas and proposals about inflation-targeting principles, which provide tools for present-day monetary authorities dealing with the forces of globalization, mercantilism, and reserve accumulation."--World Book Industry "[A]ny economist with an interest in inflation and in the theory and practice of monetary policy more generally would do quite well to read carefully the excellent study that Brigitte Granville has given us."--Peter N. Ireland, Journal of Economic LiteratureTable of ContentsPreface ix Acronyms xv Chapter 1 The End of a Mirage More Money Increases Inflation but Not Employment 1 Chapter 2 Origins of Inflation Monetary, Fiscal, and Financial Links 33 Chapter 3 Ending Inflation Without Prolonged Recession Introducing Credibility 54 Chapter 4 The Coordination of Monetary and Fiscal Policy 93 Chapter 5 Who Is Voting for Low Inflation and Why? 125 Chapter 6 Monetary and Financial Stability Conflict or Complementarity 154 Chapter 7 Inflation in an Open World Does That Change the Rules? 186 Conclusion Adapting to Expectations 214 References 223 Index 255

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Book SynopsisTrade Review"A powerful history of rupture and change; of technologies no longer in use, once-priceless goods that have lost their value, prominent port cities that have become provincial backwaters, and social worlds that have altered beyond recognition. . . . In Asian Waters offers fascinating glimpses of a world at once strangely familiar and deeply foreign."---Yorim Spoelder, Asian Review of Books"Fascinating. . . . This is a daring and thought-provoking book."---Jonas Rüegg, H-Net Reviews"A tour de force that offers a broad historical and geographic perspective of oceanic interlinkages from Japan to East Africa that evolved long before the arrival of European powers to the macro-region in the sixteenth century."---Cuauhtemoc Villamar, Journal of World History"Tagliacozzo suggests that to appreciate this vast maritime world, we must do away with the blinders that fossilized disciplines have imposed on us. Instead of national geobodies, we should focus on the oceans, where there is that timeless low of commodities, ideas and peoples that national borders cannot stop. . . . This is an excellent, extraordinarily superb, and fun book to read."---Patricio Abinales, Southeast Asian Studies"Eric Tagliacozzo’s latest ambitious work provides an eclectic history of maritime trade and interconnectivities across a vast space extending from the Persian Gulf to the seas around Japan. Though the Indian Ocean and South China Sea garner the greatest attention in this enjoyable work, the sweeping and engaging kaleidoscope of topics covered in Tagliacozzo’s work offers much to historians of the Pacific."---Steven Ivings, Pacific Historical Review"A major addition to the corpus of maritime and oceanic history and thus to global history. . . . Tagliacozzo’s study is exhaustively researched, creatively analyzed, elegantly presented, and makes a major contribution to maritime and global history. It should become a landmark (a lighthouse?) in maritime Asian scholarship."---Stephen Morillo, Asian Review of World Histories"In Asian Waters does not rewrite Indian Ocean history. . . but it is undoubtedly the best stock-taking that we have of the field, in all of its historical, thematic and methodological diversity."---Fahad Ahmad Bishara, Journal of International Maritime History

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Book SynopsisCompares the profession of economics in the United States, Britain, and France, and explains why economics, far from being a uniform science, differs in important ways among these three countries.Trade ReviewWinner of the 2011 Ludwik Fleck Prize, Society for the Social Studies of Science Winner of the 2011 Distinguished Scholarly Publication Award, American Sociological Association Winner of the 2010 Mary Douglas Prize for Best Book, Sociology of Culture Section of the American Sociological Association Honorable Mention for the 2010 Robert K. Merton Book Award for Best Book in the Science, Knowledge and Technology (SKAT) section category by the American Sociological Association One of Choice's Outstanding Academic Titles for 2009 Honorable Mention for the 2010 Barrington Moore Award for Best Book in the Comparative and Historical Sociology Section of the American Sociological Association [O]ne of my favorite history of economic thought books, period. It skips textual exegesis and looks at what the economics profession actually did... Definitely recommended."--Tyler Cowen, Marginal Revolution "Fourcade has produced a remarkable book... Her 52-page bibliography should be evidence enough of the remarkable effort that went into this book."--M. Perelman, Choice "In-depth and well-informed comparative analyses of cross-country differences in the practice and conceptualization of economics are few in number; hence, Fourcade's book is a welcome and valuable addition to the literature. Certainly it is an impressive product for a young scholar."--Bruce E. Kaufman, Comparative Labor Law & Policy Journal "[T]his excellent book is a major contribution to the literatures on the professions, sociology of knowledge, economic and political sociology, and comparative political economy insofar as it offers a penetrating look into the relationship between ideas and institutions."--Andrew Roberts, American Journal of Sociology "Fourcade's detailed argumentation, and her use of a clear and direct language far removed from what economists like to trivialize as 'sociologisms,' makes this work an important one for both economists and historians of economics. Historians of the social sciences, and of science more generally, will find this work to be invaluable in their own attempts to contextualize post-World War II scientific practice. I note, finally, the excellent typography and production values exhibited in this work. Princeton University Press has done very well by both the author and the reader."--E. Roy Weintraub, Business History Review "This book looks like a creative synthesis of much of the best sociology currently available in the States... It is also an invitation to fellow sociologists to further this line of inquiry looking once again at their discipline and profession with the same scholarship, empirical evidence, and intellectual sophistication."--Marco Santoro, Sociologica "[A] splendid volume which breaks new ground methodologically and is a major contribution to the history and sociology of western economics."--Roger Middleton, Economic History Review "One cannot but be impressed with the richness of the material it covers and the deep immersion of the author in the secondary literature... Her case for the significance of national cultures in economics is more than a valuable complement to the Americanization narrative; it invites us to look closer at the historical conditions that made possible the process that this narrative is supposed to describe."--Philippe Fontaine, Constitutional Political Economy "[T]his is a masterful book. Fourcade exhibits an extraordinary understanding of the relevant material--it is an extraordinary achievement. Personally, I would say that Fourcade exhibits a much better understanding of the technical aspects of modern economic theory than most of the sociology-based research on the economics profession... She also writes with a simple clarity that will allow the book to be appreciated by a wide range of readers."--D. Wade Hands, Journal of Economic MethodologyTable of ContentsList of Figures vii List of Tables ix Preface xi List of Abbreviations xix Introduction: Economics and Society 1 Three Trajectories 7 Critical Organized Comparisons 12 National Constellations 15 The Dialectical Relationship between Culture and Economics 28 Chapter One: Institutional Logics in Comparative Perspective 31 Federal Constitutionalism in America 32 The Rise and Fall of British Elitism 40 The Transformations of French Statism 50 Institutional Complementarities and the Coherence of Social Life 59 Chapter Two: The United States: Merchant Professionals 61 Forms of Academic Entrenchment 63 The Meaning of Science in American Economics 77 The Academic Roots of Public Expertise 96 The Economics Industry 114 American Economists, from Professional Scientism to Scientific Professionalism 125 Chapter Three: Britain: Public-Minded Elites 129 A Late but Extensive Institutionalization 131 The Scientific and Moral Transformation of British Economics 148 Administrators and Specialists 163 Economic Persuasion 175 The Waning High Culture of British Economics 183 Chapter Four: France: Statist Divisions 185 A Fragmented Academicization 187 The Nationalization of Economic Expertise 203 The "Administrative Economists" 215 The Missing Private Jurisdiction 225 Economists as Intellectuals, Intellectuals as Economists 230 The Segmented Worlds of French Economics 234 Conclusion: Economists and Societies 237 The Social Structures of Economics in Comparative Perspective 241 Contribution of a Sociology of Economic Knowledge to Economic Sociology 261 Appendix 263 Notes 269 References 315 Index 369

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Book SynopsisTrade Review"The author’s scholarly heft will impress and persuade his audience as to the validity and significance of his insights and contributions; 125 pages of endnotes and bibliography buttress his case."---A.R. Sanderson, Choice"The truly new ground explored in The Open Sea lies at the intersection of environmental and economic history. . . . Manning provides a thoughtful overview of the challenges and prospects we face in integrating the paleoclimate into the study of ancient economies. . . . An expert and bracing survey."---Kyle Harper, EH.net"The list of scholars who could produce a volume of this breadth and depth is surely a short one." * Journal of Markets and Morality *"The book must be judged a success . . . . especially in its first objective of providing the reader with an idea ofwhat the debate looks like at present, and a sense of where it might be going in the near future. Manninghas digested a colossal amount of scholarship, This book deserves to be on the shelf of anyone looking to see past the disciplinary boundaries of Graeco-Roman history and to understand how these civilisations fitted into a wider world."---David Lewis, Journal of Greek Archaeology

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Book SynopsisTo achieve peace, the authors stress the avoidance of repressive government and civil conflict. They show that countries tend to enjoy all three pillars of prosperity when they have evolved cohesive political institutions that promote common interests, guaranteeing the provision of public goods.Trade ReviewHonorable Mention for the 2011 PROSE Award in Economics,s, Association of American Publishers "This is a fascinating set of questions, and Pillars of Prosperity will be essential reading for other researchers in this area."--Diane Coyle, Enlightened Economist "Besley and Persson have written a book that seeks to bring weak and fragile states into mainstream economic analysis... [I]f you wish to model the fiscal capacity of various nations, or their legal capacity, or political violence ... this is an ideal place to start... This is a marvelous book."--Daniel Bromley, American Journal of Agricultural EconomicsTable of ContentsSeries Foreword ix Preface xi CHAPTER 1: Development Clusters 1 1.1 Salient Correlations 6 1.2 The Main Questions 10 1.3 Fiscal Capacity 11 1.4 Legal Capacity 14 1.5 Political Violence 22 1.6 State Spaces 27 1.7 Development Assistance 31 1.8 Political Reform 32 1.9 Main Themes 34 1.10 Final Remarks 37 1.11 Notes on the Literature 38 CHAPTER 2: Fiscal Capacity 40 2.1 The Core Model 45 2.1.1 Basic Structure 46 2.1.2 Politically Optimal Policy 50 2.1.3 Fiscal-Capacity Investments 52 2.1.4 Normative Benchmark: A Pigouvian Planner 54 2.1.5 Three Types of States 56 2.1.6 Taking Stock 63 2.2 Developing the Model 64 2.2.1 Microfoundations for Fiscal Capacity 64 2.2.2 More General Models for Public Goods 67 2.2.3 Polarization/Heterogeneity 70 2.2.4 Income Inequality 73 2.2.5 Differences in Group Size 78 2.2.6 Tax Distortions 79 2.2.7 From Trade to Income Taxes 83 2.2.8 An Infinite-Horizon Model 86 2.3 Empirical Implications and Data 91 2.4 Final Remarks 99 2.5 Notes on the Literature 99 CHAPTER 3: Legal Capacity 103 3.1 The Core Model with Legal Capacity 108 3.1.1 Politically Optimal Policy 109 3.1.2 Investments in State Capacity 110 3.1.3 Comparative Statics 113 3.1.4 Taking Stock 117 3.2 Developing the Model 118 3.2.1 Microeconomic Foundations 118 3.2.2 The Genius of Taxation 131 3.2.3 Private Capital Accumulation 138 3.2.4 Predation and Corruption 144 3.3 Empirical Implications and Data 156 3.4 Final Comments 164 3.5 Notes on the Literature 165 CHAPTER 4: Political Violence 169 4.1 The Core Model with Political Violence 175 4.1.1 Model Modifications 175 4.1.2 Policy 177 4.1.3 Investments in Political Violence 179 4.1.4 Empirical Implications 185 4.2 Developing the Model 189 4.2.1 Asymmetries 189 4.2.2 Polarization, Greed, and Grievance 190 4.2.3 Anarchy 191 4.2.4 Conflict in a Predatory State 192 4.2.5 Investing in Coercive Capacity 193 4.3 From Theory to Empirical Testing 194 4.4 Data and Results 198 4.4.1 Data 198 4.4.2 Cross-Sectional Correlations 201 4.4.3 Econometric Estimates 202 4.5 Final Remarks 211 4.6 Notes on the Literature 213 CHAPTER 5: State Spaces 215 5.1 State Capacity in the Comprehensive Core Model 216 5.1.1 Equilibrium Political Turnover 216 5.1.2 Investments in State Capacity Revisited 219 5.2 Developing the Model 223 5.3 Empirical Implications 227 5.4 Putting the Pieces Together 231 5.5 Final Remarks 234 5.6 Notes on the Literature 235 CHAPTER 6: Development Assistance 237 6.1 The Core Model with Aid 242 6.1.1 Cash Aid 243 6.1.2 Technical Assistance 250 6.1.3 Military Assistance 253 6.1.4 Postconflict Assistance 254 6.2 Final Remarks 256 6.3 Notes on the Literature 257 CHAPTER 7: Political Reform 259 7.1 The Core Model and Political Reform 264 7.1.1 Political Reform under a Veil of Ignorance 265 7.1.2 Strategic Political Reform 267 7.2 Developing the Model 271 7.2.1 Micropolitical Foundations for ? 271 7.2.2 Micropolitical Foundations for ? 275 7.2.3 Constitutional Rules 280 7.2.4 Political Violence 282 7.2.5 Trust 287 7.2.6 Governance 290 7.3 Political Reform in Practice 293 7.4 Final Remarks 298 7.5 Notes on the Literature 299 CHAPTER 8: Lessons Learned 302 8.1 What We Have Learned 303 8.1.1 Answers to the Three Main Questions 303 8.1.2 Our Analysis and Traditional Development Research 307 8.2 The Pillars of Prosperity Index 310 8.2.1 Defining the Index 310 8.2.2 Predicting the Index 319 8.3 Where Next? 325 8.4 Concluding Remarks 332 References 333 Name Index 357 Subject Index 363

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Book SynopsisThe history of Krupp is the history of modern Germany. No company symbolized the best and worst of that history more than the famous steel and arms maker. This book tells the story of the Krupp family and its industrial empire between the early nineteenth century onwards.Trade Review"Krupp is a meticulous company history, enhanced by the author's immersion in the company's archives. The book is also, inevitably, the biography of a family... Krupp rewards a reader's effort. The book shows us not only a family and a company, but also the state in its various forms with which Krupp has been associated for two centuries. The Krupp story remains troubling, but Mr. James has done much to give us a richer understanding of a company saddled with one ignoble chapter in a long history."--Jennifer Siegel, Wall Street Journal "What is good about Harold James' writing is that he does not make judgments or take sides. He allows the reader to do that."--R. Balashankar, Organiser "Krupp has provided a reasonable, balanced summary of the company's history and the men driving it. As such the book will be an interesting read for the layperson interested in business history in general and the disputed history of Krupp in particular."--Armin Grunbacher, Economic History Review "Harold James has succeeded in writing a concise account of one of the pivotal protagonists of German economic history. His book is accessible to a wide public while meeting academic standards and will surely become a point of reference for anyone interested in the history of Krupp."--Christof Dejung, German Historical Institute London "A significant merit of Harold James' book on Krupp is that he melts the firm's history down into a readable approach. For someone acquainted with the history of the company, the study does not offer many new insights, but the work is solid and the author's judgments and evaluations are in most cases well founded... James has written an interesting book, the first overall view of Krupp's history that meets scholarly standards."--Roman Koster, German History "Harold James's comprehensive business history of the steel concern fills an important gap in the literature... This book is an invaluable and thorough business history of the Krupp concern and an essential reference for any future history."--Hermione Giffard, Technology & Culture Review of German edition: "This is a masterfully told and unprejudiced book about a traditional enterprise which despite many crises made its way into the twenty-first century."--Joachim Kappner, Suddeutsche ZeitungTable of ContentsAcknowledgments vii Introduction: A Nation and a Name 1 CHAPTER ONE: Risk: Friedrich Krupp 9 CHAPTER TWO: Steel: Alfred Krupp 24 CHAPTER THREE: Science: Friedrich Alfred Krupp 89 CHAPTER FOUR: Diplomacy: Gustav Krupp von Bohlen und Halbach I 123 CHAPTER FIVE: Tradition: Gustav Krupp von Bohlen and Halbach II 145 CHAPTER SIX: Power and Deglobalization: Gustav and Alfried Krupp von Bohlen und Halbach 172 CHAPTER SEVEN: Reglobalization: Alfried Krupp von Bohlen und Halbach and Berthold Beitz 226 Appendix 1: Family Tree 295 Appendix 2: Business Results, 1811-2010 297 Notes 305 List of Illustrations 337 Index 341

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Book SynopsisIn the graveyard of economic ideology, dead ideas stalk the land. This title explains how these dead ideas walk among us - and why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future.Trade ReviewCo-Winner of the 2012 Gold Medal Book Award in Economics, Axiom Business "Entertaining and thought-provoking... [W]orks as a good summary for non-specialists of how the economics debate has developed."--Philip Coggan, Economist "Lucid, lively and loaded with hard data, passionate, provocative and ... persuasive... (Zombie Economics) should be required reading, even for those who aren't Keynesians or Krugmaniacs."--Glenn C. Altschuler, Barron's "The financial crisis has disproved many cherished tenets of 'market liberalism', such as the 'Efficient Markets Hypothesis', yet these zombie ideas still shamble through newspapers and journals. Enter economist Quiggin, calmly wielding dual shotguns to blast them relentlessly in the face... As Quiggin explains with elegance, lucidity and deadpan humour, the undead ideas here are interconnected: killing one causes it to knock over another in a sort of zombie-dominoes effect."--Guardian "Quiggin is a writer of great verve who marshals some powerful evidence."--Financial Times (FT Critics Pick 2010) "Zombie Economics is ... a highly readable and sobering assessment of the role played by discredited economic ideas in the global financial and economic meltdown of 2008-09. Quiggin delves deeply into the origins and development of all the star culprits so loved by the economic right in recent decades: from the efficient markets hypothesis to privatization and Real Business Cycle Theory. None has stood up to the stern test posed by real markets and economies in crisis. Yet most live on, still featured in many curriculums and advocated by those academics who have staked their careers on them."--Globe & Mail "It's hard to resist a book called Zombie Economics, and University of Queensland professor John Quiggin makes his tale as compelling as his title... It's the rare read that's both thoughtful and fun."--Biz Ed Magazine "[C]ogent and readable."--Nation "Apparently some economists have a sense of humor, dismal though it may be. Quiggin uses the 2008 global financial crisis as the focal point for examining five core macroeconomic and financial theories that have been--to use zombie terminology--killed by our current predicament... Economics students and interested lay readers will find this valuable."--Library Journal "Erroneous economic ideas resemble the living dead, writes John Quiggin in his smart new book Zombie Economics. They are dangerous yet impossible to kill. Even after a financial crisis buries them, they survive in our minds and can rise unbidden from the necropolis of ideology."--James Pressley, Bloomberg News "I haven't done justice to Quiggin's book, so if you're interested in a readable exposition of the exploits of academic economists over the past 35 years I recommend it highly. It's the story of how economists forgot much of what they knew. Please, guys, don't do that again."--Ross Gittins, Sydney Morning Herald "As well as exposing how these flawed ideas brought on the global crisis and how they live on, Quiggin offers his view on a new way forward in economic theory. It's time to bury the zombie."--Fiona Capp, The Age "From the so-called 'great moderation' concept to the implications of the efficient markets hypothesis, Quiggin does an excellent job summarizing each zombie idea and explaining why it is discredited in a simple (but not simplistic) manner."--Choice "Cleverly titled, with a wonderful and very un-academic cartoon cover and written without excessive jargon, Zombie Economics provides an elegant critical introduction and analysis of some of the key ideas of modern economic thought."--Satyajit Das, Naked Capitalism blog "Put a bullet through the decaying brain of walking-dead economics by reading Quiggin."--Seth Sandronsky, SN&R "Peppered with humorous quotations, theory and history, Quiggin has assembled a compelling read about the misguided intellectual economic assumptions of the last forty years and also gives possible solutions to our current financial dilemma."--Ted Stamas, Bullfax.com "This book is certainly a good read for anyone eager to know why it is urgent that economists come up with a socially useful body of thought or suggestions."--Shanghai Daily "[A]n excellent new book."--Jessica Irvine, Sydney Morning Herald "When I put on my economist's hat, I admire my field's ability to publicly hang its soiled laundry in public. I encourage my colleagues in sociology, psychology, and management to read this book and leverage it to lead to a more integrated social science and, perhaps, a more socially aware economic science"--.Brent Goldfarb, Administrative Science Quarterly "Quiggin manages to be argumentative, accurate, straight forward and convincing, while on occasion humorous. Certainly a good companion for anyone hoping to navigate the swamps of messy, and failed economic ideas."--Sarthak Shankar, Organiser "If we're lucky, there will be more books like this one, criticizing 'market liberal' economics (neoliberalism or laissezfaire) from the left. John Quiggin ... presents a learned and frankly social-democratic attack on market liberalism."--James G. Devine, Science & Society "[T]his book, which is written for a general audience and is highly informative and entertaining."--Gaurab Aryal, Economic Record

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Book SynopsisThroughout the twentieth century, the U.S. government willingly deployed power, hard and soft, to protect American investments all around the globe. Why did the United States get into the business of defending its citizens' property rights abroad? The Empire Trap looks at how modern U.S. involvement in the empire business began, how American foreigTrade Review"[T]his is a very good book--cogently argued, detailed, and well-written."--Politics Reader "The Empire Trap represents an important addition to scholarship on twentieth century U.S. foreign policy. Maurer convincingly demonstrates that American investments in foreign countries were repeatedly threatened by expropriating governments and that in countless instances the United States utilized a variety of methods to protect those investments or to ensure fair compensation when they were lost."--Jeffrey Malanson, Enterprise & Society "It is impressive not only for its scope ... but also for its attention to detail in each of the cases presented. Most important, Maurer's analysis brilliantly captures a big picture that challenges much of the conventional wisdom showing how a small number of private investors draw government into one international quagmire after another because it was the only way they could have their property rights enforced."--Alan Dye, EH.Net "This is an exemplary work of historical social science, shedding light on many debates within the international relations literature."--Michael J. Lee, Perspectives on PoliticsTable of ContentsAcknowledgments vii One Introduction 1 Two Avoiding the Trap 25 Three Setting the Trap 58 Four The Trap Closes 89 * Box 1. The Mexican Exception 137 Five Banana Republicanism 148 Six Escaping by Accident 188 Seven Falling Back In 245 Eight The Empire Trap and the Cold War 313 * Box 2. Ethiopia and Nicaragua 347 Nine The Success of the Empire Trap 350 Ten Escaping by Design? 387 Eleven The Empire Trap in the Twenty-first Century 433 Notes 453 Index 537

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Book SynopsisBefore the twentieth century, personal debt resided on the fringes of the American economy, the province of small-time criminals and struggling merchants. By the end of the century, however, the most profitable corporations and banks in the country lent money to millions of American debtors. How did this happen? The first book to follow the historyTrade ReviewOne of Choice's Outstanding Academic Titles for 2011: Top 25 Books "[I]ncredibly timely."--Diane Coyle, The Enlightened Economist blog "[Debtor Nation] does a splendid job unpacking the origins and evolution of credit and debt in the US, an effort that should give news consumers a new and useful perspective on the American consumer... Hyman tells the story of America's debt obsession engagingly and without an overabundance of jargon."--Asa Fitch, The National "As an elegantly crafted historical analysis of how consumer credit grew to a colossus, Debtor Nation is compelling reading. As a well-documented financial analysis, Debtor Nation exposes the weak underside of lenders' balance sheets. Legislators should read it. Lobbyists for banks and other lenders may not be able to ignore it."--Andrew Allentuck, Financial Post "Beautifully written, painstakingly documented, and altogether persuasive, the book provides a comprehensive look at the history of consumer debt in the U.S... [Debtor Nation] is a must read for anyone who wants to understand the modern credit system in the U.S. It manages to weave together a long history of developments within America's credit markets in a narrative that is both fascinating and frightening."--Choice "Hyman has written an insightful book about the evolution of U.S. credit markets. Debtor Nation is particularly relevant given the recent financial crisis and after reading it, it is clear that a complete story of the crisis must begin decades earlier. I recommend this book to anyone wanting to know more about U.S. credit markets, or about how the U.S. became so dependent on debt."--Katharine L. Shester, EH.net "Debtor Nation offers several possibilities for use by family and consumer sciences professionals. For pre-professionals or college students interested in debt access and use in the U. S., this book is a concise source of events and key laws passed to regulate credit and credit access... For educators who cover consumer choice and responsibility, this book is packed with examples of how ignorance is costly and has been used by those in business to profit from the uninformed."--Cathy F. Bowen, Journal of Family and Consumer SciencesTable of ContentsList of Illustrations ix An Introduction to the History of Debt 1 Chapter One: Making Credit Modern: The Origins of the Debt Infrastructure in the 1920s 10 Chapter Two: Debt and Recovery: New Deal Housing Policy and the Making of National Mortgage Markets 45 Chapter Three: How Commercial Bankers Discovered Consumer Credit: The Federal Housing Administration and Personal Loan Departments, 1934-1938 73 Chapter Four: War and Credit: Government Regulation and Changing Credit Practices 98 Chapter Five: Postwar Consumer Credit: Borrowing for Prosperity 132 Chapter Six: Legitimating the Credit Infrastructure: Race, Gender, and Credit Access 173 Chapter Seven: Securing Debt in an Insecure World: Credit Cards and Capital Markets 220 Epilogue: Debt as Choice, Debt as Structure 281 Acknowledgments 289 Abbreviations 291 Notes 293 References 363 Index 365

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Book SynopsisTrade Review"An informative and deeply researched book that explores how property law influenced the development of the English colonies and, ultimately, the United States."---Aaron L. Chin, H-Early-America

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Book SynopsisIn recent years, many disciplines have become interested in the scientific study of morality. However, a conceptual framework for this work is still lacking. This book examines the work of numerous business ethicists and organizations - such as Protestant ministers, business associations, and business schools.Trade ReviewCo-Winner of the 2016 Viviana Zelizer Award for Best Book, Economic Sociology Section of the American Sociological Association Co-Winner of the 2015 Outstanding Published Book Award, Altruism, Morality and Social Solidarity Section of the American Sociological Association Honorable Mention for the 2015 Mary Douglas Prize for Best Book, Sociology of Culture Section of the American Sociological Association "The most incisive and theoretically sophisticated entry into the 'new sociology of morality' movement that has consolidated in recent years."--Omar Lizardo, Contemporary Sociology "The Moral Background is an ambitious, deeply researched, and engaging book... Abend's account is both thorough and broad, and the erudition he displays is astounding... [A] masterful book."--Simone Polillo, Social Forces "Abend combines history, philosophy, and social science to suggest a comprehensive base for understanding moral behavior. While the book's focus is on business ethics, the insights presented have many applications."--Choice "[A] stimulating book, essential to understand the place of the business world ... in the moral landscape of America today, but also ... to grasp the contemporary trends in corporate social responsibility."--Michel Anteby, Sociologie du Travail "This is an enormously ambitious book packed with history, ethics, and philosophy of science as well as sociology. It is more historical than much history of philosophy and takes business ethics more seriously than most ethicists do. It is an important contribution to creating a field in which researchers in a variety of traditions mutually inform each other about morality."--Dale Jamieson, European Journal of Sociology "The Moral Background discerns and details moral patterns in the echo chamber where business protagonists talk, mostly to each other, about ethical motives, obligations, and opportunities. Abend has done a yeoman's job in excavating, analyzing, and systematizing the discursive surrounds of business ethics, pushing us all to think about who can and cannot be seen in the moral background."--Robin Wagner-Pacifici, European Journal of Sociology "Especially important among the virtues of Abend's research is his ability to work through a huge body of historical material ... and to find meaning in these disparate sources that point back to the 'moral backgrounds' from which they emanate. This is a truly gigantic task of intellectual integration, and Abend's book sets a high bar for future studies of the cultural meaning of intellectual, practical, and normative social realities."--Daniel Little, Understanding Society Blog "The Moral Background is an intriguing and useful book. Abend develops and promotes an analytical concept that contemporary sociology desperately needs. I think it will be influential as cultural sociology continues to seek the right balance between culture as a repertoire of skills and styles and culture as something deeper--something that shapes the thoughts we think and provides the menu for the kinds of people we can aspire to be."--Stephen Vaisey, European Journal of SociologyTable of ContentsIntroduction 1 1. Moral Causes 1 2. Business Ethicists 5 3. History, Morals, and Markets 10 4. The Arguments 15 5. The Plan 20 Chapter 1. The Moral Background 28 1.1. Morality as an Object of Inquiry 28 1.2. What the Background Comprises 33 1.3. What Makes the Background a Background 52 1.4. Background Theorists 56 1.5. What the Background Is For 66 Chapter 2. Ethics as a Business Proposition 71 2.1. Glaucon's Challenge 71 2.2. Today's Business Ethicists 76 2.3. The Business Case 79 2.4. Do the Right Thing 84 2.5. Policy and Self-Interest 88 2.6. Yesterday's Business Ethicists 95 2.7. Balance Sheets 99 2.8. He Profits Most Who Serves Best 106 Chapter 3. Christian Motives 115 3.1. Enlightened Scots 115 3.2. Springs of Action 120 3.3. Machiavellian Appearances 126 3.4. Compromises 132 3.5. Duties and Motives 142 3.6. The Religion of the Heart 148 3.7. One Question Too Many 156 Chapter 4. The Good of American Business 161 4.1. The Pesky Calf 161 4.2. The Chamber 165 4.3. Government Will 174 4.4. The Principles of Business Conduct 183 4.5. Codes of Ethics 190 4.6. American Business 195 4.7. The Uses of Ethics 202 Appendix 205 Chapter 5. The Good of American Society 207 5.1. Inculcating Ethics 207 5.2. Business Schools 210 5.3. The Intellectual and the Ethical Arguments 224 5.4. Ethics at Work 234 5.5. The Good of America 249 Chapter 6. Standards of Practice 260 6.1. Types 260 6.2. The Science of Ethics 264 6.3. Science and Ethics at the Business School 276 6.4. Cases 282 6.5. Metaethics 290 6.6. Service and the Golden Rule 299 Chapter 7. The Christian Merchant 306 7.1. Moral Exemplars 306 7.2. Mammon 310 7.3. Ambivalence 316 7.4. Metaphysics 326 7.5. Stewardship 332 7.6. Stewardship Metaphysics 341 7.7. Spheres 347 Conclusion 357 1. Business Is Business 357 2. Back to the Background 364 3. The Science of Morality 372 4. Whither the Science of Morality? 379 Acknowledgments 387 Index 389

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Book SynopsisExamines the triangular relationship between the American, British, and German business communities and how the special relationship that Britain believed it had with the United States was supplanted by one between America and Germany.Trade Review"Even for readers who struggle to find support for some of its claims ... this formidably eclectic report on some neglected themes offers an interesting survey of the changing perspectives of American and European business elites on multiple important issues."--Leslie Hannah, EH.Net "This outstanding comparative study examines a neglected force in the growing influence of the U.S. on 20th-century Europe and its 'Americanization' until about 1957 and Great Britain's debacle in the Suez Crisis... This book is absolutely essential for the most advanced readers in the social sciences."--Choice "Overall, the German-American 'special relationship' was more intensive and successful than the British-American one. Berghahn convincingly examines the ups and downs and the recurrent patterns of the triangular relationship that shaped the economic development of the largest economy in the world and its most important European partners... In this sense, a 'triangular history' is innovative, as it analyzes the American focus from a comparative perspective and thus facilitates a distinct advance in knowledge."--Christian Kleinschmidt "Berghahn's impressive and innovative work of transnational history will form a key point of departure for scholarship on these additional areas of complexity."--Ray Stokes, American Historical Review "Berghahn has provided a book of original scholarship that challenges earlier works concentrating on the 'special relationship' between the United States and Great Britain... Employing a wide range of sources, especially newspapers and the private writings of contemporaries, Berghahn provides a riveting economic-diplomatic history, illustrating quite clearly that power follows the money."--Mark D. Kuss, German Studies Review "Berghahn's study is a significant one, calling attention to a long history, too little studied, of a German-American 'special relationship' based on big business connections and insisting upon the value of broad, qualitative historical narratives in economic history. On both of these scores, this ambitious book succeeds."--Emily S. Rosenberg, Journal of Modern HistoryTable of ContentsIntroduction 1. A Long Book in a Nutshell 1 2. Conceptualizing "Americanization" and the "American Century" 2 3. The Anglo-American "Special Relationship" 5 4. The German-American "Special Relationship" 8 5. Sources 11 6. Transatlantic History and Its Global Dimensions 12 7. The Trials and Tribulations of Venturing into a Foreign Economy 14 I The North Atlantic Business Triangle and the Constellation of 1900-1901 1. International Relations Around 1900 22 2. Assessing the Old and the New Century 23 3. Political and Economic Relations in the Age of Late-Nineteenth-Century Imperialism 27 4. Frank Vanderlip's and William Stead's Views of Anglo-American Relations 30 5. American Perceptions of the Wilhelmine Industrial System 37 6. Trying to Understand the Peculiarities of the German Political System 45 7. The Cultural Difficulties of Operating in Foreign Markets 49 II Cooperation, Peaceful Competition, and the Specter of War, 1902-1914 1. Introduction 57 2. American Foreign Direct Investments in Britain and Germany 58 3. Facing British and German Competition and Cooperation 63 4. Prince Heinrich's Mission and German-American Relations in the New Century 70 5. American Big Business in Britain and Germany at Mid-Decade 73 6. The Threat of Deteriorating Political Relations 75 7. Comparing the Peculiarities of the American and German Industrial Systems 79 8. American Big Business and the Question of Political Participation 84 9. American and European Businessmen and the Specter of a Major War 88 III From the Outbreak of War in July 1914 to the Genoa Conference, 1922 1. The Military-Political Origins of World War I 105 2. The International Business Community and the Outbreak of War in 1914 108 3. The Ambiguities of American Neutrality 113 4. The American Economy and the Moves to Enter the War 116 5. The American Entry into the War and the Dilemmas of Peacemaking 123 6. American Big Business and European Reconstruction 126 7. The Idea of an International Loan for European Reconstruction and Its Failure 131 8. The State of the American, British, and French Economies in the Early 1920s 134 9. American Big Business and the Postwar Crisis in Germany 137 10. American Big Business, Washington, and the Question of European Loans 139 11. The Origins of the Washington System in the Far East 142 12. Britain's Rival Attempt to Spearhead a European Recovery Plan 144 IV The North Atlantic Triangle: Economic Reconstruction and Collapse, 1923-1933 1. Introduction 160 2. German Reparations and the Harding Administration 161 3. American Big Business and the Crisis of 1923 165 4. Political Stabilization through the Locarno Pact 168 5. The American Business Community and the Dawes Plan 170 6. American Big Business and the British Economy 179 7. American Investments in Weimar Germany and Their Risks 187 8. The Problem of International Cartels, Trusts, and Cooperations 195 9. The Instabilities of Weimar Politics and American Business Optimism 201 10. Parker Gilbert's Pessimism and American Business Gullibility 206 11. America's Domestic Boom and the "Wild" Years of 1925-1929 211 12. The Great Slump and Its Consequences in International Politics 214 V Nazi Germany, Appeasement, and Anglo-American Big Business, 1933-1941 1. Introduction 227 2. Hitler's Ideology of Conquest and Ultimate War Aims 229 3. Hitler's Foreign Policy in the 1930s 232 4. The Underestimation of Hitler and British Appeasement 236 5. American Foreign Policy in the 1930s 239 6. American Big Business and the Roosevelt Administration 243 7. Stimulating American Industrial Production 245 8. American Views of the Hitler Dictatorship 250 9. Hitler and German Industry 255 10. Doing Business in Nazi Germany 257 11. The U.S. Auto Industry and Mass Motorization 260 12. British and American Business and the Preservation of Peace 266 13. IBM in Germany 272 VI British and German Business and Politics under the Pax Americana, 1941-1957 1. Hitler's Quest for Victory in the East 286 2. Planning for Victory and Henry Luce's "American Century" 288 3. Cartels and the "German Question" 293 4. The Role of American Big Business in Postwar Planning 299 5. The Start of the Cold War and Anglo-American Relations in Occupied Germany 301 6. The Politics of Decartelization 307 7. The Response of West German Industry to America's Recasting Efforts 313 8. Britain and the Difficulties of Economic Reconstruction 317 9. The Origins of the European Coal and Steel Community 323 10. American Big Business and Otto A. Friedrich 326 11. Modernizing Phoenix A.G. and Erhard's Anti-Cartel Bill 329 12. The Reluctant Modernization of British Industry 332 13. America and the Suez Crisis 339 Conclusions 355 Acknowledgments 365 Index 367

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Book SynopsisThe untold story of how FDR did the unthinkable to save the American economy.Trade Review"[Sebastian Edwards] skillfully narrates a pivotal episode in American political and economic history he considers too little remembered. . . . Edwards writes equally knowledgeably about economics and politics: . . . At a time of economic uncertainty at home and abroad, this comprehensive study of an important event in U.S. fiscal history has significant implications for today." * Publishers Weekly *"Sebastian Edwards' American Default is just such a superb history of the US exit from gold in 1933-34, satisfyingly detailed and highly accessible on both the relevant economics & law."---David Frum"Edwards analyses the default that followed President Franklin Delano Roosevelt’s 1933 decision to devalue the dollar against gold. . . . The story is fascinating and the lessons eternal."---Martin Wolf, Financial Times"[American Default] is the history of that mighty legal, moral, political and monetary controversy, the effects of which are with us still. . . . [Sebastian Edwards] knowledgably compares the 20th-century American default to Argentina’s 2002 abrogation of its dollar denominated debt."---James Grant, Wall Street Journal"Brilliantly told."---Steve Hanke, Forbes"Edwards ends his admirably accessible and illuminating book with some careful thoughts on recent financial crises around the world, such as those in Argentina and Greece, and shows why US gold cases from 1933 to 1935 are a useful precedent to understand how future such crises may be successfully resolved by hewing carefully to the rule of law. He believes that the cases may even be invoked by lawyers in other national, or international, arenas. If so, those involved will, no doubt, turn to this book for inspiration and guidance."---Benn Steil, Financial World"Excellent. . . . A fascinating narrative of FDR's decision to devalue the dollar in 1933-34."---Scott Sumner, EconLog"Edwards’ book is fascinating, well written and enjoyable."---Geoffrey Wood, Central Banking"Great book by UCLA economist Sebastian Edwards about a key moment in American economic history. Many economists believe that the most important thing FDR did to help the economy recover from the Great Depression was to go off the gold standard. As part of that policy, he pursued laws that rewrote many bond contracts, annulling gold clauses. It was controversial then (and surely would be again if such an issue were ever to arise). Edwards does a wonderful job telling the story."---Greg Mankiw, Greg Mankiw's Blog"Fascinating. . . . I couldn't put this book down."---Brenda Jubin, Seeking Alpha"A shimmering example of the benefits of historical distance can be found in the UCLA economist Sebastián Edwards’ American Default, a sharp-eyed exploration of a little-noted episode in US economic history."---Ken Rogoff, Project Syndicate"Sebastian Edwards has written a very important book on a monumental episode in U.S. history, the great debt default of 1933-35, which was a true turning point in American political and economic history. . . . I highly recommend American Default. It is more than compelling history; it is a tract for our times."---Gerald P. O'Driscoll Jr., Cato Journal"A magnificent piece of scholarship."---Kenneth Rogoff, Project Syndicate"This easily accessible economic, political, and legal history should be read by undergraduates, graduate students, and the general public. Each audience will gain a new perspective on an important though underappreciated episode in international political economy."---Laura Phillips Sawyer, Journal of American History"Rarely does one read a book on a topic already researched thoroughly and still feel as if one has walked away with a new perspective."---James Caton, Independent Review"Edwards’ clarity enables him to sustain the interest of the reader in spite of the technical nature of his narrative."---Peter Fearon, Journal of Transatlantic Studies

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Book SynopsisHeavenly Merchandize offers a critical reexamination of religion's role in the creation of a market economy in early America. Focusing on the economic culture of New England, it views commerce through the eyes of four generations of Boston merchants, drawing upon their personal letters, diaries, business records, and sermon notes to reveal how mercTrade ReviewWinner of the 2011 Philip Schaff Prize, American Society of Church History Shortlisted for the 2011 American Academy of Religion Award for Excellence in the Historical Study of Religion One of Choice's Outstanding Academic Titles for 2010 "Valeri's reading of theological sources is so satisfying because he is a subtle, careful reader; he resists the temptation to smooth away contradictions, or to oversimplify; indeed, he seems allergic to polemic it is thus not surprising when, at the end of the book--just when the author might be expected to tip his hand about what all this market accommodation means--Valeri is maddeningly even-handed."--Lauren F. Winner, Books & Culture "I found this book to be an outstanding contribution to our understanding of the working out of the Protestant ethic in colonial New England. Therefore, it is a major contribution to our understanding of American economic morality."--Donald E. Frey, EH.Net "Students of early New England will find this indispensable; it should also appeal to anyone interested in the relationship between religion and the larger culture."--Choice "[T]he effectiveness with which Valeri utilizes the small-scale cultural world of Puritan Massachusetts in the colonial era in order to examine developments that have wider ramifications, indicates that, as with Perry Miller and so many others, that time and place is still a fruitful laboratory for thick analysis of religiocultural change."--Dewey D. Wallace, Jr., Interpretation "Valeri's well-written case studies bring many rewards to the reader. They forcefully demonstrate that no one can understand the changing culture of early America without paying attention to religion."--R. Laurence Moore, Journal of Church History "The book is noteworthy as much for its method as for its conclusions. Valeri's inferences rise convincingly from his methodology, analysis, and rhetoric... [H]andled artfully in an elegant narrative."--Barry Levy, American Historical Review "This book will certainly change the way both Puritan theology and economics are viewed and is highly recommended."--Suzanne Geissler, Anglican and Episcopal History "An important study... [T]his stellar work breaks important new ground on the complex drama of economics and religion in early modern America."--Robert E. Brown, Religious Studies ReviewTable of ContentsList of Illustrations ix Preface xi INTRODUCTION: Heavenly Merchandize 1 CHAPTER ONE: Robert Keayne's Gift 11 Keayne, the Merchant Taylors' Company, and Civic Humanism 14 Keayne and the Godly Community in England 26 CHAPTER TWO: Robert Keayne's Trials 37 Boston's First Merchants 39 Puritan Discipline in England 50 Discipline and Trade in Early Boston 57 CHAPTER THREE: John Hull's Accounts 74 Hull and the Expansion of New England's Market 76 Hull's Piety and Changes in Church Discipline 83 Jeremiads, Providence, and New England's Civic Order 96 CHAPTER FOUR: Samuel Sewall's Windows 111 Sewall's and Fitch's Problems with Money 114 The Politics of Empire 122 Political Economy, Monetary Policy, and the Justification of Usury 134 Merchants' Callings and the Campaign for Moral Reform 157 Religious Conviction in the Affairs of Sewall and Fitch 168 CHAPTER FIVE: Hugh Hall's Scheme 178 Hall and Boston's Provincial Merchants 181 Rational Protestantism and the Meaning of Commerce 200 Gentility, the Empire, and Piety in the Affairs of Hall 220 EPILOGUE: Religious Revival 234 Samuel Philips Savage, Isaac Smith, and Robert Treat Paine 235 Social Virtue and the Market 240 Conclusion 248 Notes 251 Index 321

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Book SynopsisAt the center of the upheavals brought by emancipation in the American South was the economic and social transition from slavery to modern capitalism. In Between Slavery and Capitalism, Martin Ruef examines how this institutional change affected individuals, organizations, and communities in the late nineteenth century, as blacks and whites alike lTrade ReviewWinner of the 2015 Viviana Zelizer Award for Best Book, Economic Sociology Section of the American Sociological Association "[A] compelling analysis of the swiftly changing economic and social institutions in the American south after the Civil War."--Heather A. Haveman, Administrative Science Quarterly "The book excels in providing a comprehensive analytical framework for understanding large-scale social change... Ruef makes excellent use of a wide range of data, including both historical census data and interviews with former slaves conducted by the Federal Writers' Project, to consider patterns of intergenerational status attainment among those who lived through emancipation... A fine exemplar of a historical-comparative analysis of economic change."--Joseph O. Jewell, American Journal of SociologyTable of ContentsList of Illustrations vii List of Tables ix Preface xi Acknowledgments xv 1. Institutional Transformation and Uncertainty 1 2. Constructing a Free Labor Market 21 3. Status Attainment among Emancipated Slaves 50 4. Class Structure in the Old and New South 75 5. The Demise of the Plantation 103 6. Credit and Trade in the New South 131 7. Paths to Development 156 8. Emancipation in Comparative Perspective 181 Appendix A. Data Sources and Sampling 195 Appendix B. Idiosyncrasy 203 Notes 209 References 253 Index 277

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Book SynopsisTrade Review"Brazil is the world's sixth-largest economy and fifth-largest nation, and its transformation has long piqued the interest of scholars and observers. In this engaging book, Alston and his Brazilian colleagues Melo, Mueller, and Pereira examine this transformation by asking how Brazil became an emerging power during the 20th century... Brazil in Transition is a valuable contribution to the understanding of why nations develop and the struggles they face in the process."--Choice "Brazil in Transition is an intriguing book that holds the reader's attention throughout."--Leonardo Weller, EH.netTable of ContentsList of Illustrations xi List of Tables xiii Preface xv Abbreviations xvii Part I. An Overview of Brazil in Transition: Beliefs, Leadership, and Institutional Change 1 Chapter 1. Introduction 3 Economic Development and Critical Transitions 3 Brazil: This Time for Real? 7 A Sketch of the Conceptual Framework 14 Analytical Narratives and Economic Development 16 Road Map for the Book 19 Chapter 2. A Conceptual Dynamic for Understanding Development 24 Beliefs, Leadership, Dominant Network, and Windows of Opportunity 24 Difference in Difference in Changing Beliefs 28 Overview of Dominant Network, Beliefs, and Institutions in Brazil from 1964 to 2014 33 1964-1984 33 1985-1993 36 1994-2014 38 Summary 39 Part II. Introduction to the Case Study of Brazil, 1964-2014 41 Identifying Beliefs 45 Appendix: A Primer on the Brazilian Political System 50 Chapter 3. From Disorder to Growth and Back: The Military Regime (1964-1984) 54 From Chaos to a Short Period of Order 54 From Order to Unsustainable Growth 59 The Miracle Fades 64 Back to Disorder 67 The Decline of Developmentalism 70 Chapter 4. Transition to Democracy and the Belief in Social Inclusion (1985-1993) 71 A New Belief Emerges 71 The Transition to Democracy 72 Codifying Beliefs: The Constitution of 1988 76 The Constitution-Making Process 78 The Constitution's Delegation of Powers to the President 87 Back to Uncertainty and Chaos 90 Failures of the Brazilian Economic Plans before the Real 91 The Collor Government: Great Hope, Huge Disappointment 93 Chapter 5. Cardoso Seizes a Window of Opportunity (1993-2002) 97 The Real Plan 99 Early Institutional Deepening: Constitutional Amendments 103 Coalition Management under Cardoso 107 Asserting Fiscal Control over States 108 Staying the Course against the Early Opposition to the Real Plan 110 Sustaining Stability in the Face of External Shocks 116 Cardoso's Second Term: Combining Macro Orthodoxy with Social Inclusion 117 The Reassertion of Presidential Fiscal Authority 119 Conclusions 120 Chapter 6. Deepening Beliefs and Institutional Change (2002-2014) 122 The Uncertain Transition 122 Continuity in Change 126 Deepening the Social Contract 128 Checks and Balances vs. Strong Presidential Powers 138 The New Economic Matrix and Dilma's Policy Switch 150 Beliefs? Really? ... Really! 154 The Messy Process of Dissipative Inclusion 161 Conclusion 165 Part III. A General Inductive Framework for Understandin Critical Transitions 169 Chapter 7. A Conceptual Framework for Understanding Critical Transitions 171 Understanding Critical Transitions 172 How Does Our Framework Fit in the Literature? 173 The Building Blocks of Our Conceptual Framework 176 Windows of Opportunity 176 Dominant Network 177 Beliefs 180 Leadership 186 Institutions 189 Economic and Political Outcomes 190 Dynamics 191 Argentina: An Illustrative Use of the Framework 199 The Camelot Years: 1912-1930 200 Electoral Fraud and the Rise of Peron: 1930-1946 201 Instability Is the Rule: Oscillations between Populism and Military Rule: 1946-Present 204 Concluding Remarks 207 Chapter 8. Conclusion 209 Better and Worse at the Same Time 210 Assessing the Framework 214 Brazil and the Critical Transition 216 Afterword 221 References 227 Index 243

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Book Synopsis"First published in Germany under 'Geschichte des Kapitalismus', by Jeurgen Kocka." --Title page verso.Trade ReviewOne of Choice's Outstanding Academic Titles for 2016 "'Capitalism' is a commonly used term that resists simple definition or straightforward history. Kocka adds lucidity and erudition in this excellent overview... [B]road in its intellectual sweep, covering a range of social science disciplines; and well informed by the literature in both economic and social history... [Capitalism] provides a paradigm of what a short history of an important concept should accomplish."--Choice "Jurgen Kocka is one of the most well known experts in the field of European History and like his previous books this compact book has all of his virtues: it's extremely clear and conceptually tight as well as very succinct."--Stephen Darori, Israel Book Review "A brief and lively overview which is likely to attract a wide readership... Entertaining and informative, it will prove useful and reassuring to many who are troubled by the onset of the capitalist crisis in 2008 but who are still wedded to the system."--Henry Heller, Labour-Le TravailTable of ContentsPreface to the English Edition vii 1. What Does Capitalism Mean? 1 The Emergence of a Controversial Concept 1 Three Classics: Marx, Weber, and Schumpeter 7 Other Voices and a Working Definition 16 2. Merchant Capitalism 25 China and Arabia 26 Europe: Dynamic Latecomer 35 Interim Findings around 1500 49 3. Expansion 54 Business and Violence: Colonialism and World Trade 54 Joint-Stock Company and Finance Capitalism 58 Plantation Economy and Slavery 65 Agrarian Capitalism, Mining, and Proto-Industrialization 70 Capitalism, Culture, and Enlightenment: Adam Smith in Context 84 4. The Capitalist Era 95 The Contours of Industrialization and Globalization since 1800 96 From Ownership to Managerial Capitalism 104 Financialization 114 Work in Capitalism 124 Market and State 145 5. Analysis and Critique 162 Notes 171 Bibliography 181 Index of Names 197

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Book SynopsisOriginally conceived as part of a unifying vision for Europe, the euro is now viewed as a millstone around the neck of a continent crippled by vast debts, sluggish economies, and growing populist dissent. In Europe's Orphan, leading economic commentator Martin Sandbu presents a compelling defense of the euro. He argues that rather than blaming theTrade ReviewOne of Financial Times (FT.com) Best Books in Economics 2015, chosen by Martin Wolf "Refreshingly eccentric."--Wolfgang Streeck, London Review of Books "Well-written and closely argued, Europe's Orphan ought to delight the smarter supporters of European integration and will challenge some long-held assumptions of their euroskeptic opponents, not least the perception that the currency union has gnawed away at the international competitiveness of the eurozone's weaker economies."--Andrew Stuttaford, Wall Street Journal "[A] stimulating and entertaining book... [Sandbu] has performed a public service by challenging the present dreary consensus on the fate of the euro and, in his final chapter, by reminding us what the single currency was for."--Richard Lambert, Prospect "Financial Times writer Sandbu (Just Business) looks past current headlines to the ideals and realpolitik strategy behind the Eurozone, arguing that it remains Europe's best hope for preserving global relevance... The book cogently explains why scapegoating the euro for Europe's economic and political disunity is nonsense."--Publishers Weekly "Books that attack the conventional wisdom are refreshing. They force us to rethink. That is what Martin Sandbu's Europe's Orphan does--and what makes it stand out in the increasingly crowded field of eurocrisis analysis... Europe's Orphan is a stimulating and important book."--Paul De Grauwe, Financial Times "[T]his is ... a highly intelligent, thought provoking book, to be read by anyone who follows contemporary macroeconomic policy."--Tyler Cowen, Marginal Revolution "Martin Sandbu's book is a robust and generally well-informed critique of the handling of the euro-area crisis."--Patrick Honohan, Irish Times "The book provides a sophisticated 'liquidationist' alternative to the dominant rhetoric."--Martin Wolf, Financial Times, a FT Best Book of 2015 "[A] valuable recent book on the Euro crisis."--Arthur Goldhammer, The American Prospect "Intelligent, well-sourced, controversial."--Anders Horntvedt, Finansavisen "These provocative and insightful arguments are particularly valuable at a time when austerity retains its intellectual luster despite its manifest failures."--Andrew Moravcsik, Foreign Affairs "A spirited defense and a thoughtful reinterpretation of the eurozone's unpromising recent history."--Mark Harrison, Enterprising InvestorTable of Contents*Frontmatter, pg. i*Contents, pg. vii*Preface, pg. xi*ONE. A Giant Historic Mistake?, pg. 1*TWO. Before the Fall, pg. 25*THREE. Greece and the Idolatry of Debt, pg. 48*FOUR. Ireland: The Private Is Political, pg. 80*FIVE. Europe Digs Deeper, pg. 106*SIX. Righting the Course: From Bail-Out to Bail-In, pg. 139*SEVEN. If Europe Dared to Write Down Debt, pg. 165*EIGHT. Europe's Real Economic Challenges, pg. 189*NINE. The Politics That the Euro Needs, pg. 217*TEN. Great Britain or Little England?, pg. 242*ELEVEN. Remembering What the Euro Is For, pg. 265*Notes, pg. 273*Index, pg. 303

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Book SynopsisTrade Review"Shortlisted for the ICAS Book Prize in Social Sciences, International Convention of Asia Scholars"

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Book SynopsisTrade Review"Jones's scholarship is enormous, and the book is full of fascinating facts... He writes clearly with an absence of jargon, which makes the book accessible to a wide audience. Economists could certainly benefit from the way it opens up a wider set of perspectives. And ... there is more than enough interesting material to make the book worthwhile for the more general reader."--Paul Ormerod, Times Higher Education Supplement "Jones' book is important because it links our economic past and future with our ideas about culture."--Mark Trahant, Seattle Post-Intelligencer "An accessible, illuminating, and inspiring book."--Avner Greif, EH.net "Eric Jones is intelligent, literate, and eclectic. His comments range over many fields besides economic history, and he writes in a sprightly manner. The book is fun to read, and it engages one of the big issues of economic history: the role of culture in economic affairs."--Peter Temin, Economic History Review "Eric L. Jones has written an interesting and well-argued critique of two positions that he believes are well entrenched in the economic history literature. The first, which he terms 'cultural nullity', is widely held by economists and assigns no or at best a trivial role to culture in explaining economic outcomes. Second, Jones criticizes those (often historians) who think of a 'cultural fixity', in which an unchanging culture dominates every other aspect of life... Jones marshals an impressive and at times amusing range of illustrations of the fluidity of cultures."--Harold James, International History Review "Cultures Merging is a remarkable historical tour de force presenting a wealth of argument to indicate the role of economic forces in the modification of culture and vice versa."--Arthur Webb, Journal of Cultural Economics "Jones ... makes a compelling argument for the special place of literature in understanding these dialectics of poverty."--John Marsh, The Minnesota Review "Jones writes in a vivid, attractive manner, expressing sometimes trenchant arguments on specific topics... His book has a syncretic and eclectic feel, and conveys a sense of its author as someone who, having established his standing in his previous, more focused work, now revels in his ability to survey that of another generation or two of scholars, and to tell his readers which leads to follow and which to consider useless."--Gianfranco Poggi, SociologicaTable of ContentsPreface vii PART I CULTURAL ANALYSIS Chapter 1: The Revival of Cultural Explanation 3 Chapter 2: Cultures Fluid and Sticky 31 Chapter 3: Culture as Mediocrity 52 Chapter 4: The Means of Merging 85 Chapter 5: Institutions as Cryptogams 108 PART II CULTURAL COMMENTARY Chapter 6: Cultures of Immigration 135 Chapter 7: East Asia's Experience 161 Chapter 8: Economic Changes, Cultural Responses 194 Chapter 9: Cultural Protection 223 PART III CONCLUSION Chapter 10: Culture as Reciprocity 255 Bibliography 273 Index 291

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