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African Americans historically have played a role in shaping the economic development of their race and of the country, though only recently have they received attention in this regard. Current representation of African Americans in some of corporate America’s top positions and as owners of technology companies reflect current trends in society and is a step toward closing the racial gap.
After his death Thorstein Veblen was hailed as ‘America’s Darwin and Marx’ and is normally portrayed as the perennial iconoclast. He severely criticised traditional economics and attempted to create an alternative approach based on a much more complex view of human beings. He is one of the most celebrated economists of our age and has been the inspiration for many books; the predatory version of capitalism we now again experience, the phenomenon of studying cultures of consumption and the darker sides of gilded ages can be traced back to Veblen.
In this book, Marco Palacios explores the history of Colombia as a coffee-producer, and the implications that coffee has had for its economy, society, and politics since the middle of the nineteenth century. He provides a history of the commercialization of the crop, and relates it to the general evolution of Colombian society, an evolution often determined by coffee even in areas remote from the crop itself. The book also covers the development of the specific institutions that have been set up to manage coffee affairs, and their role in the Colombian state.
This book was first published in 2006. It is estimated that up to sixty percent of the world’s money may be located offshore, where half of all financial transactions are said to take place; however, there is a perception that secrecy about offshore is encouraged to obfuscate tax evasion and money laundering.
Europe’s centre-left is rapidly falling out of love with the European single currency. Fifteen years after its creation, British journalists Larry Elliott and Dan Atkinson assess its performance to show why. Looking at a range of key indicators the authors show how the euro has failed to deliver on its promise of more jobs, more growth and greater equality. Instead it has undermined the European Union. Elliott and Atkinson compare the European Central Bank to the Federal Reserve, arguing that the architects of the euro subjugated economic measures to political considerations.
Praised by the New York Times Book Review as a “vital account of the perils of intellectual arrogance,” a troubling story of liberal economists, race, and eugenics In Illiberal Reformers, Thomas Leonard reexamines the economic progressives whose ideas and reform agenda underwrote the Progressive Era dismantling of laissez-faire and the creation of the regulatory welfare state, which, they believed, would humanize and rationalize industrial capitalism. But not for all. Academic social scientists such as Richard T.
In the bustling cities of the mid-nineteenth-century Northeast, young male clerks working in commercial offices and stores were on the make, persistently seeking wealth, respect, and self-gratification. Yet these strivers and “counter jumpers” discovered that claiming the identities of independent men—while making sense of a volatile capitalist economy and fluid urban society—was fraught with uncertainty.
In On the Make, Brian P. Luskey illuminates at once the power of the ideology of self-making and the important contests over the meanings of respectability, manhood, and citizenship that helped to determine who clerks were and who they would become.
A sweeping history of finance and civilization that "convincingly makes the case that finance is a change-maker of change-makers" (Financial Times)In the aftermath of recent financial crises, it’s easy to see finance as a wrecking ball: something that destroys fortunes and jobs, and undermines governments and banks. In Money Changes Everything, leading financial historian William Goetzmann argues the exact opposite–that the development of finance has made the growth of civilizations possible.
Drawing on a wealth of archival material, including personal correspondence and diaries, Robert Leonard tells the fascinating story of the creation of game theory by Hungarian Jewish mathematician John von Neumann and Austrian economist Oskar Morgenstern. Game theory first emerged amid discussions of the psychology and mathematics of chess in Germany and fin-de-siècle Austro-Hungary. In the 1930s, on the cusp of anti-Semitism and political upheaval, it was developed by von Neumann into an ambitious theory of social organization.
How did banking, borrowing, investing, and even losing money—in other words, participating in the modern financial system—come to seem likeroutine activities of everydaylife? Genres of the Credit Economy addressesthis question by examining the history of financial instruments and representations of finance in eighteenth- and nineteenth-century Britain.Chronicling the process by which some of our most important conceptual categories were naturalized, Mary Poovey explores complex relationships among forms of writing that are not usually viewed together, from bills of exchange and bank checks, to realist novels and Romantic poems, to economic theory and financial journalism.
The economy of the Roman Empire was predominantly agrarian: Roman landowners, agricultural laborers, and small tenant farmers were highly dependent upon one another for assuring stability. By examining the property rights established by the Roman government, in particular the laws concerning land tenure and the contractual relationships between wealthy landowners and the tenant farmers to whom they leased their land, Dennis P. Kehoe is able to demonstrate how the state fostered economic development and who benefited the most.
Dramatic social and economic change during the middle ages altered the lives of the people of Britain in far-reaching ways, from the structure of their families to the ways they made their livings. In this masterly book, preeminent medieval historian Christopher Dyer presents a fresh view of the British economy from the ninth to the sixteenth century and a vivid new account of medieval life. He begins his volume with the formation of towns and villages in the ninth and tenth centuries and ends with the inflation, population rise, and colonial expansion of the sixteenth century.T
George Washington was not only “first in war, first in peace, and first in the hearts of his countrymen”—he was also America’s most important entrepreneur.
In this lively history of consumer debt in America, economic historian Louis Hyman demonstrates that today’s problems are not as new as we think. Borrow examines how the rise of consumer borrowing—virtually unknown before the twentieth century—has altered our culture and economy. Starting in the years before the Great Depression, increased access to money raised living standards but also introduced unforeseen risks. As lending grew more and more profitable, it displaced funds available for business borrowing, setting our economy on an unsustainable course.
"Profiting from the Plains" looks at two inextricably linked historical movements in the United States: the westward expansion of the great Northern Railway and the agricultural development of the northern plains. Claire Strom explores the persistent, idiosyncratic attempts by the Great Northern to boost agricultural production along its rail routes from St. Paul to Seattle between 1878 and 1917. Lacking a federal land grant, the Great Northern could not make money through land sales like other railways.
American businesses today are obsessed with the price of their stock, and no wonder. The consequences of even a modest decrease can be so dire that some executives would rather damage their corporation’s long-term health than allow quarterly returns to fall below projections. But how did this situation come about? When did the stock market become the driver of the American economy? Lawrence E. Mitchell identifies the moment in American history when finance triumphed over industry. He shows how the birth of the giant modern corporation spurred the rise of the stock market and how, by the dawn of the 1920s, the stock market left behind its business origins to become the very reason for the creation of business itself.
Although banking and sovereign debt crises are not unusual, the crisis that has unfolded across the world since 2007 has been unique in both its scale and scope. It has also been unusual in being both triggered by, and mainly affecting, developed economies. Starting with the US subprime mortgage crisis, and the recession in 2007-2009, the problem soon erupted into financial crisis in Europe. A few of these countries came to the brink of bankruptcy, and were rescued by the EU and the IMF on the condition they adopt austerity measures.
In The Great Boom, historian Robert Sobel tells the fascinating story of the last 50 years when American entrepreneurs, visionaries, and ordinary citizens transformed our depression and war-exhausted society into today’s economic powerhouse.As America’s G.I.s returned home from World War II, many of the nation’s best minds predicted a new depression—yet exactly the opposite occurred. Jobs were plentiful in retooled factories swamped with orders from pent-up demand. Tens of thousands of families moved out of cities into affordable suburban homes built by William Levitt and his imitators.
Most scholarship on nineteenth-century America’s transformation into a market society has focused on consumption, romanticized visions of workers, and analysis of firms and factories. Building on but moving past these studies, Capitalism Takes Command presents a history of family farming, general incorporation laws, mortgage payments, inheritance practices, office systems, and risk management—an inventory of the means by which capitalism became America’s new revolutionary tradition.This multidisciplinary collection of essays argues not only that capitalism reached far beyond the purview of the economy, but also that the revolution was not confined to the destruction of an agrarian past.
The Wealth of Ideas traces the history of economic thought, from its prehistory (the Bible, Classical antiquity) to the present day. In this eloquently written, scientifically rigorous and well documented book, chapters on William Petty, Adam Smith, David Ricardo, Karl Marx, William Stanley Jevons, Carl Menger, Alfred Marshall, John Maynard Keynes, Joseph Schumpeter and Piero Sraffa alternate with chapters on other important figures and on debates of the period. Economic thought is seen as developing between two opposite poles: a subjective one, based on the ideas of scarcity and utility, and an objective one based on the notions of physical costs and surplus.
“Do we really need yet another book about the financial crisis? Yes, we do—because this one is different….A must-read for anyone who wants to understand the mess we’re in.”—Paul Krugman, New York Times Book Review“Fox makes business history thrilling.”—St. Louis Post-DispatchA lively history of ideas, The Myth of the Rational Market by former Time Magazine economics columnist Justin Fox, describes with insight and wit the rise and fall of the world’s most influential investing idea: the efficient markets theory.
This book investigates the tensions between subjectivism and objectivism in the history of economics. The book looks at the works of Adam Smith, Carl Menger, Leon Walras, William Stanley Jevons, Oskar Morgenstern, Ludwig Mises, Piero Sraffa, and so on. The book highlights the diverse subjective and objective elements of their economic theories and suggests a reframing of methodology to better address the core problems of the theories. Contributors of the volume are leading members of the Japan Society of History of Economic Thought who have provided a comprehensive overview on the economics methodology and the related problems.
Winner of the American Sociological Association PEWS Award for Distinguished Scholarship: a comprehensive analysis of the development of world capitalism over the millennium.
The Long Twentieth Century traces the relationship between capital accumulation and state formation over a 700-year period. Arrighi argues that capitalism has unfolded as a succession of “long centuries,” each of which produced a new world power that secured control over an expanding world-economic space. Examining the changing fortunes of Florentine, Venetian, Genoese, Dutch, English and finally American capitalism, Arrighi concludes with an examination of the forces that have shaped and are now poised to undermine America’s world dominance.
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