Early British Economics from the XIIIth to the middle of the XVIIIth century


Book Description

Early British Economics covers the growth of economic thought in Britain, giving an outline of the economic and ethical problems raised by social developments and changes. The doctrines formulated by city merchants, economic writers and philosophers during the six centuries in question are also examined.




Divine Providence in Early Modern Economic Thought


Book Description

In this important volume, Joost Hengstmengel examines the doctrine of divine providence and how it served as explanation and justification in economic debates in the sixteenth, seventeenth and eighteenth centuries throughout Western Europe. The author discusses five different areas in which God was associated with the economy: international trade, division of labour, value and price, self-interest, and poverty and inequality. Ultimately, it is shown that theological ideas continued to influence economic thought beyond the Medieval period, and that the science of economics as we know it today has theological origins. Interdisciplinary in nature, this book will be of interest to advanced students and researchers in the history of economic thought, the history of theology, philosophy and intellectual history.




Economic Ethics in Late Medieval England, 1300–1500


Book Description

Drawing on an array of archival evidence from court records to the poems of Chaucer, this work explores how medieval thinkers understood economic activity, how their ideas were transmitted and the extent to which they were accepted. Moving beyond the impersonal operations of an economy to its ethical dimension, Hole’s socio-cultural study considers not only the ideas and beliefs of theologians and philosophers, but how these influenced assumptions and preoccupations about material concerns in late medieval English society. Beginning with late medieval English writings on economic ethics and its origins, the author illuminates a society which, although strictly hierarchical and unequal, nevertheless fostered expectations that all its members should avoid greed and excess consumption. Throughout, Hole aims to show that economic ethics had a broader application than trade and usury in late medieval England.




Harmony and the Balance


Book Description

Frequently the achievements of pioneering economic writers are assessed by imposing contemporary theories of markets, economics, politics, and history. At last, here is a book that appraises the work of the leading English economic writers of the seventeenth century using intellectual concepts of the time, rather than present-day analytical models, in order to place their economic theories in context. In an analysis that tracks the Stuart century, Andrea Finkelstein traces the progress of such figures as Gerard de Malynes, William Petty, John Locke, and Charles Davenant by inviting us into the great trading companies and halls of parliament where we relive the debates over the coinage, the interest rate, and the nature of money. Furthermore, we see them model their works on the latest developments in physiology, borrow ideas from bookkeeping, and argue over the nature of numbers in an effort to construct a market theory grounded in objective moral value. This comprehensive approach clarifies the relationship between the century's economic ideas and its intellectual thought so that, in the end, readers will be able to judge for themselves whether this really was the age of the Capitalist Geist. Finkelstein has crafted her book to be both inclusive and interdisciplinary by skillfully integrating biography, political history, economic history, and intellectual theory as well as the economic heritage of its subjects. While the concepts are far from simple, Finkelstein's adroit style presents her analysis in an extremely accessible manner. Andrea Finkelstein is Assistant Professor of History, City University of New York.




The Political Economy of Mercantilism


Book Description

Since the days of Adam Smith, Mercantilism has been a hotly debated issue. Condemned at the end of the 18th century as a "false" system of economic thinking and political practice, it has returned paradoxically to the forefront in regard to issues such as the creation of economic growth in developing countries. This concept is often used in order to depict economic thinking and economic policy in early modern Europe; its meaning and content has been highly debated for over two hundred years. Following on from his 1994 volume Mercantilism – The Shaping of an Economic Language, this new book from Lars Magnusson presents a more synthetic interpretation of Mercantilism not only as a theoretical system, but also as a system of political economy. This book incorporates samples of material from the 1994 publication alongside new material, ordered in a new set of chapters and up-date discussions on mercantilism up to the present day. Tracing the development of a particular political economy of Mercantilism in a period of nascent state making in Western and Continental Europe from the 16th to the 18th century, the book describes how European rulers regarded foreign trade and industrialisation as a means to achieve power and influence amidst international competition over trades and markets. Returning to debates concerning whether Mercantilism was a system of power or of wealth, Magnusson argues that it is in fact was both, and that contemporaries almost without exception saw these goals as interconnected. He also emphasises that Mercantilism was an all-European issue in a time of trade wars and the struggle for international power and recognition. In examining these issues, this book offers an unrivalled modern synthesis of Mercantilist ideas and practices.




Trade and Nation


Book Description

In the seventeenth century, English economic theorists lost interest in the moral status of exchange and became increasingly concerned with the roots of national prosperity. This shift marked the origins of classical political economy and provided the foundation for the contemporary discipline of economics. The seventeenth-century revolution in economic thought fundamentally reshaped the way economic processes have been interpreted and understood. In Trade and Nation, Emily Erikson brings together historical, comparative, and computational methods to explain the institutional forces that brought about this transformation. Erikson pinpoints how the rise of the company form in confluence with the political marginalization of English merchants created an opening for public argumentation over economic matters. Independent merchants, who were excluded from state institutions and vast areas of trade, confronted the power and influence of crown-endorsed chartered companies. Their distance from the halls of government drove them to take their case to the public sphere. The number of merchant-authored economic texts rose as members of this class sought to show that their preferred policies would contribute to the benefit of the state and commonwealth. In doing so, they created and disseminated a new moral framework of growth, prosperity, and wealth for evaluating economic behavior. By using computational methods to document these processes, Trade and Nation provides both compelling evidence and a prototype for how methodological innovations can help to provide new insights into large-scale social processes.




The Economic Thought of William Petty


Book Description

William Petty (1623-1687), long recognised as a founding father of English political economy, was actively involved in the military-colonial administration of Ireland following its invasion by Oliver Cromwell, and to the end of his days continued to devise schemes for securing England’s continued domination of that country. It was in that context that he elaborated his economic ideas, which consequently reflect the world of military-bureaucratic officialdom, neo-feudalism and colonialism he served. This book shows that much of the theory and methodology in use within the economics discipline of today has its roots in the writings of Petty and his contemporaries, rather than in the supposedly universalistic and enlightened ideals of Adam Smith a century later. Many of the fundamental ideas of today’s development economics, for example, are shown to have been deployed by Petty explicitly for the purpose of furthering England’s colonialist objectives, while his pioneering writings on fiscal issues and national accounting theory were equally explicitly directed towards the raising of funds for England’s predatory colonial and commercial wars. This book argues that exploring the historical roots of economic ideas and methods in this way is an essential aspect of assessing their appropriateness and analytical power today, and that this is more relevant than ever. It will be of interest to advanced students and researchers in the history of economic thought, early modern economic history, development economics and economic geography.




Economics in the Medieval Schools


Book Description

A comprehensive survey of the economic ideas developed in a broad tradition of theologians associated with the University of Paris in the thirteenth-and early fourteenth centuries, based on familiar printed works as well as on a large body of previously unexplored manuscript sources. New interpretations of several points of doctrine.




Principles and Agents


Book Description

A new history of the abolition of the British slave trade "Easily the most scholarly, clear and persuasive analysis yet published of the rise to dominance of the British in the Atlantic slave trade--as well as the implementation of abolition when that dominance was its peak."--David Eltis, coauthor of Atlas of the Transatlantic Slave Trade Parliament's decision in 1807 to outlaw British slaving was a key moment in modern world history. In this magisterial work, historian David Richardson challenges claims that this event was largely due to the actions of particular individuals and emphasizes instead that abolition of the British slave trade relied on the power of ordinary people to change the world. British slaving and opposition to it grew in parallel through the 1760s and then increasingly came into conflict both in the public imagination and in political discourse. Looking at the ideological tensions between Britons' sense of themselves as free people and their willingness to enslave Africans abroad, Richardson shows that from the 1770s those simmering tensions became politicized even as British slaving activities reached unprecedented levels, mobilizing public opinion to coerce Parliament to confront and begin to resolve the issue between 1788 and 1807.




Agricultural Economics Literature


Book Description