Why did the country that borrowed the most industrialize first? Earlier research has viewed the explosion of debt in 18th century Britain as either detrimental, or as neutral for economic growth. In this paper, we argue instead that Britain's borrowing boom was beneficial. The massive issuance...

A Comparative History of Commerce and Industry, Volume I offers a subjective review of how the cultural, social and economic institutions of commerce and industry evolved in industrialized nations to produce the institution we now know as business enterprise