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elastically supplied, by credit expansion for example (as Schumpeter observed). Attributing growth to investment, therefore … society of bourgeois dignity and liberty---did as well as the Protestants (in Amsterdam, for example). Ben Franklin, for …, or they depreciate. They cannot accumulate from an age of piracy to an age of industry. Yet modern growth theory …
Persistent link: https://www.econbiz.de/10008574606
beginning the factor of 16. The slow British growth in the 18th century proposed by Crafts and Harley is unbelievable, but … however one assigns growth within the period 1700-1900 it is now plain that something unprecedented was happening. Only non … continuation of European growth in the 19th and 20th centuries that is strange and new. Explaining the Great Divergence requires …
Persistent link: https://www.econbiz.de/10008555454
A fundamental question in economic development is how societies first acquire a successful set of institutions. To examine this question, the paper focuses on a paradigmatic example, England in the years surrounding the Glorious Revolution of 1688. North and Weingast (1989) view the...
Persistent link: https://www.econbiz.de/10008596341
This paper challenges a belief that is deeply embedded in mainstream economics — that 1688-1701 saw a fundamental transformation in England, which sprang from changes in the highest-level institutions designed by those who understood how to effect productive reform. This is the design...
Persistent link: https://www.econbiz.de/10014199913
sestet (“The Bourgeois Era”) is a defense, one can expect not to find arguments that globalization is bad for the poor, or … economists. The book present does so, and finds them surprisingly weak. The residual is ideas, in particular the Bourgeois … capitalism. One is already published (The Bourgeois Virtues: Ethics for an Age of Commerce 2006), and this is volume 2. Volume 3 …
Persistent link: https://www.econbiz.de/10008528732
faster population growth during peacetime than in Europe. But it also meant that China was relatively fragile in the event of …, and population growth in both China and Europe. …
Persistent link: https://www.econbiz.de/10011107666
for long term economic growth. The transmission of property through the market however remains understudied, especially in …
Persistent link: https://www.econbiz.de/10011107993
This paper reviews the growing body of evidence on the relative economic standing of different regions of the world in the late eighteenth and early nineteenth centuries. In general, it does not find support for Eurocentric claims regarding Western Europe’s early economic lead. The Eurocentric...
Persistent link: https://www.econbiz.de/10005789705
Poor Law” – combined to make an Industrial Revolution more likely. Essentially, industrialization is the result of having a …
Persistent link: https://www.econbiz.de/10005772100
Long run economic growth has again become a major focus of economic theory. A perception of technological change as an … growth paths. Economic history has also long been interested in long-run economic growth. This paper engages in a dialog … between growth theory and the historical literature on the industrial revolution in Britain and America’s surge to …
Persistent link: https://www.econbiz.de/10005225439