This volume of collected essays takes a new approach to this problematic subject by rethinking its broad foundations. From a variety of perspectives, its authors situate mercantilism against the backdrop of wider transformations in seventeenth-century Britain, Europe, and the Atlantic, from the scientific revolution to the expansion of empire.--
Early modern England had a distinctive preoccupation with the social responsibilities of private businesses. Koji Yamamoto explores for the first time how promises of public service in the economic sphere came to be abused, and how statesmen, playwrights, petitioners, and merchants responded to such perversions of promised public service.
There has been a major revival of interest in State Capitalism: What it is, where it is found, and why it is seemingly becoming more ubiquitous. As a concept, it has evolved from radical critiques of the Soviet Union, to being deployed by neo-liberals to describe market reforms deemed imperfect, to settle into a middle ground, as a pragmatic way to describe the state assuming a role as an active economic agent, in addition to its regulatory, social, and security functions. The latter is the central focus of this book, although due attention is accorded to the origins of state capitalism and how it has changed over the years, as well as contemporary ways in which state capitalism may be theorized. This economic agency may assume direct forms, for example, via state owned enterprises. However, it may also be indirect, for example, actively serving private interests through promoting insider firms, who may occupy monopolistic market positions and perform outsourced state functions. In turn, this leads to raise salient governance questions. The latter may encompass agency tensions between public ownership, and political or even private interest control; it may also include issues of transparency and monitoring. Although state capitalism has often been depicted as the preserve of states in the global south, be they developmental or predatory, many forms of state capitalism are visible in mature economies, be they liberal or coordinated, and this is not always associated with superior governance arrangements; indeed, this is an area where clear and easy divisions between the developing or emerging world and the developed or mature world may increasingly be breaking down. This volume brings together the accounts of leading experts from around the world; it is explicitly multi-disciplinary, and both consolidates the exiting knowledge base, and provides new, novel, and counter-intuitive insights.
Money is usually understood as a valuable object, the value of which is attributed to it by its users and which other users recognize. It serves to link disparate institutions, providing a disguised whole and prime tool for the “invisible hand” of the market. This book offers an interpretation of money as a social institution. Money provides the link between the household and the firm, the worker and his product, making that very division seem natural and money as imminently practical. Money as a Social Institution begins in the medieval period and traces the evolution of money alongside consequent implications for the changing models of the corporation and the state. This is then followed with double-entry accounting as a tool of long-distance merchants and bankers, then the monitoring of the process of production by professional corporate managers. Davis provides a framework of analysis for examining money historically, beyond the operation of those particular institutions, which includes the possibility of conceptualizing and organizing the world differently. This volume is of great importance to academics and students who are interested in economic history and history of economic thought, as well as international political economics and critique of political economy.
The Oxford Handbook of the Corporation assesses the contemporary relevance, purpose, and performance of the corporation. The corporation is one of the most significant, if contested, innovations in human history, and the direction and effectiveness of corporate law, corporate governance, and corporate performance are being challenged as never before. Continuously evolving, the corporation as the primary instrument for wealth generation in contemporary economies demands frequent assessment and reinterpretation. The focus of this work is the transformative impact of innovation and change upon corporate structure, purpose, and operation. Corporate innovation is at the heart of the value-creation process in increasingly internationalized and competitive market economies, and corporations today are embedded in a world of complex global supply chains and rising state and state-directed capitalism. In questioning the fundamental purpose and performance of the corporation, this Handbook continues a tradition commenced by Berle and Means, and contributed to by generations of business scholars. What is the corporation and what is it becoming? How do we define its form and purpose and how are these changing? To whom is the corporation responsible, and who should judge the ultimate performance of corporations? By investigating the origins, development, strategies, and theories of corporations, this volume addresses such questions to provide a richer theoretical account of the corporation and its contested future.
State, Economy and the Great Divergence provides a new analysis of what has become the central debate in global economic history: the 'great divergence' between European and Asian growth. Focusing on early modern China and Western Europe, in particular Great Britain, this book offers a new level of detail on comparative state formation that has wide-reaching implications for European, Eurasian and global history. Beginning with an overview of the historiography, Peer Vries goes on to extend and develop the debate, critically engaging with the huge volume of literature published on the topic to date. Incorporating recent insights, he offers a compelling alternative to the claims to East-West equivalence, or Asian superiority, which have come to dominate discourse surrounding this issue. This is a vital update to a key issue in global economic history and, as such, is essential reading for students and scholars interested in keeping up to speed with the on-going debates.
From antiquity to our own time those interested in political economy have with almost no exceptions regarded the natural physical environment as a resource meant for human use. Focusing on the period 1600-1850, and paying particular attention to major figures including Adam Smith, T.R. Malthus, David Ricardo and J.S. Mill, this book provides a detailed overview of the intellectual history of the economic consideration of nature from antiquity to modern times. It shows how even someone like Mill, who was clearly influenced by romantic notions regarding the spiritual need for contact with pristine nature, ultimately regarded it as an economic resource. Building on existing scholarship, this study demonstrates how the rise of modern sensitivity to nature, from the late eighteenth century in particular, was in fact a dialectical reaction to the growing distance of modern urban civilization from the natural environment. As such, the book offers an unprecedentedly detailed overview of the intellectual history of economic considerations of nature, whilst underlining how the history of this topic has been remarkably consistent.
Ambivalent Pleasures explores how Europeans wrestled with the novel experience of consuming substances that could alter moods and become addictive. During the early modern period, psychotropic drugs like sugar, chocolate, tobacco, tea, coffee, distilled spirits like gin and rum, and opium either arrived in western Europe for the first time or were newly available as everyday commodities. Drawing from primary sources in English, Dutch, French, Italian, and Spanish, Scott K. Taylor shows that these substances embodied Europeans' anxieties about race and empire, religious strife, shifting notions of class and gender roles, and the moral implications of urbanization and global trade. Through the writings of physicians, theologians, political pamphleteers, satirists, and others, Ambivalent Pleasures tracks the emerging understanding of addiction; fears about the racial, class, and gendered implications of using these soft drugs (including that consuming them would make users more foreign); and the new forms of sociability that coalesced around their use. Even as Europeans' moral concerns about the consumption of these drugs fluctuated, the physical and sensory experiences of using them remained a critical concern, anticipating present-day rhetoric and policy about addiction to drugs and alcohol.
How manufacturing textiles and guns transformed the United States from colonial dependent to military power. In 1783, the Revolutionary War drew to a close, but America was still threatened by enemies at home and abroad. The emerging nation faced tax rebellions, Indian warfare, and hostilities with France and England. Its arsenal—a collection of hand-me-down and beat-up firearms—was woefully inadequate, and its manufacturing sector was weak. In an era when armies literally froze in the field, military preparedness depended on blankets and jackets, the importation of which the British Empire had coordinated for over 200 years. Without a ready supply of guns, the new nation could not defend itself; without its own textiles, it was at the economic mercy of the British. Domestic industry offered the best solution for true economic and military independence. In Manufacturing Advantage, Lindsay Schakenbach Regele shows how the US government promoted the industrial development of textiles and weapons to defend the country from hostile armies—and hostile imports. Moving from the late 1700s through the Mexican-American War, Schakenbach Regele argues that both industries developed as a result of what she calls “national security capitalism”: a mixed enterprise system in which government agents and private producers brokered solutions to the problems of war and international economic disparities. War and State Department officials played particularly key roles in the emergence of American industry, facilitating arms makers and power loom weavers in the quest to develop industrial resources. And this defensive strategy, Schakenbach Regele reveals, eventually evolved to promote westward expansion, as well as America’s growing commercial and territorial empire. Examining these issues through the lens of geopolitics, Manufacturing Advantage places the rise of industry in the United States in the context of territorial expansion, diplomacy, and warfare. Ultimately, the book reveals the complex link between government intervention and private initiative in a country struggling to create a political economy that balanced military competence with commercial needs.
