Questions tagged [economic-history]

Economic history is the study of past economies and economic events.

Filter by
Sorted by
Tagged with
-1 votes
0 answers
35 views

Is the Accursed Share hypothesis respected among academics or practitioners?

Batallie, a French philosopher of all things, put forward a famous (at the time) theory known as The Accursed Share. A few lines from the treatise, characterizing his position: I will simply state, ...
Arash Howaida's user avatar
1 vote
0 answers
32 views

How accurate are Angus Maddisons historical GDP estimates?

Angus Maddison estimates seem to be very often used by economic historians however they seem to be very speculatory. This source states that they were unsure when the UK was surpassed in real GDP per ...
john's user avatar
  • 11
0 votes
0 answers
32 views

Why did Newton choose to devalue silve with respect to gold and (effectively) create the gold standard?

This is a question of economic history, specifically about one specific event that caused the British to adopt the gold standard. Reading about the gold standard one often encounters statements like ...
Alexandar Ruño's user avatar
0 votes
0 answers
34 views

Where can I find the cost of commodities in different markets?

Where can I find a database that tracks current and historic prices of different products and services in regions around the world? I'm very sure that some organizations track the cost of common ...
Michael Altfield's user avatar
0 votes
0 answers
10 views

What is the present state of research on the theory of the size and shape of nations?

I recently discovered interesting research from D. Friedman, titled A Theory of the Size and Shape of Nations, where the size and shape of nations is being explained through economic factors. However, ...
Ezekiel's user avatar
  • 506
0 votes
0 answers
7 views

Are there some estimates of average working hours in Medieval England?

I am looking for data or estimates on how many hours per day (or week, month, or even year) people used to work on average in Medieval England. Since, in the past, people mostly produced what they ...
Ezekiel's user avatar
  • 506
1 vote
1 answer
21 views

Question on the nature of debasement

I have a question concerning how exactly debasement works in terms of coins becoming reduced in value. I am aware that debasement is when the amount of a precious metal in a coin is reduced, the value ...
DanceroftheStars's user avatar
1 vote
0 answers
45 views

Why would bank runs lead to a decrease of the total quantity of money supply M1?

It‘s specifically about the German banking crisis of 1931. I get how the banks increasing their reserves and cutting their loans (starting 1930) would cause money contraction (at least of M1). Doesn‘t ...
Iris L's user avatar
  • 11
1 vote
1 answer
415 views

Is Steve Forbes factually correct when he says that all of our economics problems are made worse by leaving the gold standard?

When I started reading Steve Forbes book Inflation I was surprised by his confidence in making statements about the impact of leaving the gold standard. The book is clearly written and goes against ...
Larry Freeman's user avatar
2 votes
1 answer
73 views

Would Bretton-Woods capital controls have prevented the export-based industrialization of China and the deindustrialization of the West?

I sometimes hear this in a certain kind of political discourse, namely that in the "good old days" of Bretton-Woods capital controls were a thing (I don't dispute this) and that consequently ...
the gods from engineering's user avatar
1 vote
0 answers
18 views

Did countries ever default against Federal Reserve's swap line?

Did foreign countries ever default against Fed's swap line or Foreign and International Monetary Authorities ? Or is it technically possible? I guess they will lose their collateral, and it's a big ...
Matt Frank's user avatar
0 votes
2 answers
254 views

Why is the barter economy predating money taught when it never existed?

As described here, and from what I remember from economics class (this may sound anecdotal, but I think it's common knowledge, correct me if I'm wrong), a barter economy is said to predate money. But ...
user avatar
1 vote
1 answer
43 views

Why are subscriptions to the World Bank's IBRD measured in 1944 US dollars? How is this calculated?

Several official documents published by the World Bank's 'International Bank For Reconstruction and Development' (IBRD), such as https://pubdocs.worldbank.org/en/795101541106471736/...
M. Y. Zuo's user avatar
  • 121
0 votes
1 answer
23 views

Why did Hungary joining the E.U. cause oil prices fall to be only marginally higher than they were in Ukraine?

Related cross-site: Were schoolteachers really paid substantially less than $45 per month in 1990s Ukraine? This particular question is arguably on-topic on Lit.SE and History.SE as well, but I'd like ...
EJoshuaS - Stand with Ukraine's user avatar
0 votes
0 answers
28 views

Was pre-industrial economy more likely to have overproduction or shortage problem. How large would be the gap

I read in somewhere that the per capita annual production of cast iron in the roman empire was on par with per capita annual consumption of cast iron in 15th century England. Assume this is accurate, ...
user30303's user avatar
  • 101
2 votes
0 answers
42 views

Why was the massive outflow of silver before the first Opium War so bad for the British Empire?

TLDR I am a person without any significant knowledge of economics, so even though I have (I suspect) some partial answers, I need a better understanding of these. Background and question In accounts ...
Ludi's user avatar
  • 183
1 vote
2 answers
116 views

How did empires make wealth out of empire-colony trade?

It is commonly discussed that one way the empires of 16-18th would receive wealth from colonies is: Get raw materials from a colony Transport them to the empire Make more sophisticated products out ...
Антон Бугаев's user avatar
2 votes
1 answer
69 views

Is there any economic history book on how western economy coped with the fall of roman empire?

I recently finished Tamin's The Roman Market Economy. The book describes how Roman Republic and later Roman Empire created an integrated and at the time developed European economy. I enjoyed it a lot, ...
Ezekiel's user avatar
  • 506
0 votes
1 answer
60 views

Is there any graph that shows how the gold and silver content decreased in roman coins?

I am looking for a graph of at least a table with data that would allow me to make a graph, showing how the gold/silver content was slowly removed from roman coins due to debasement of the currency.
Ezekiel's user avatar
  • 506
0 votes
2 answers
121 views

What happens to the currency of a war winner?

Are there examples in history that teach what happens to the currency of a war winner? Is any of this knowledge transferrable to the current situation, with either Ukraine or Russia winning the war?
AlwaysLearning's user avatar
1 vote
0 answers
30 views

What factors influence whether an invention is not patented?

Various inventions that have become well-known were never patented, including matches, emoticons, and the magnetic strip. Other noteworthy examples include the polio vaccine (Jonas Salk), monoclonal ...
Max Muller's user avatar
1 vote
1 answer
61 views

Book recommendation about the causes of the great depression

Yesterday's Nobel prize was awarded to three economists focusing on banking, and Ben Bernanke, at least, did, as far as I know, some groundbreaking research on the causes of the great depression. I ...
Arne's user avatar
  • 210
0 votes
3 answers
101 views

How did the first money owners get their money?

If certain people were the first money owners, then how did they get their money? How could someone have paid the first money owners with money, if nobody before the first money owners had any money?
rapt's user avatar
  • 171
0 votes
1 answer
27 views

New financing instruments as covert leverage?

Back when the Federal Reserve intervened in the commercial paper market in the 1970s, corporates essentially woke up the next morning and found they had two back-stopped modes of financing: their own ...
Arash Howaida's user avatar
0 votes
0 answers
27 views

"Technological breakthrough changes social-economic relations" - how this Marxian thesis is perceived in orthodox economy and political economy?

This article https://ojs.library.ubc.ca/index.php/newproposals/article/view/2017 from Neo-Marxian peer-reviewed journal applies the Marxian thesis "technological breakthrough changes social-...
TomR's user avatar
  • 425
1 vote
0 answers
15 views

Post WWI - Peace Conference flow of capital

I'm researching a bit into how countries went about servicing their debt obligations, which were quite high after the major spending during wartime. Liaquat Ahamed notes: As the Peace Conference was ...
Arash Howaida's user avatar
0 votes
0 answers
37 views

How do I build a synthetic measure of economic activity for linear regression?

I'm trying to estimate the effects of WW2 on the economy using historical data for cities. The regression is pretty simple: ...
Tototulbi's user avatar
1 vote
1 answer
27 views

Is there any good source that explains Chiense early experiment with paper money?

Historically China adopted paper money very early but during Ming Dynasty paper money was replaced by silver coins. I would like to know why, is there any authoritative source that looks at this issue?...
Ezekiel's user avatar
  • 506
2 votes
1 answer
234 views

What's the highest percentage of output any country spent on its military?

I was surprised that in 1941: American military spending accounted for 2 per cent of it's national output. Compared to Japan's 70 per cent. 70% seems incredibly high, especially given people still ...
stevec's user avatar
  • 671
1 vote
1 answer
140 views

Why did Germany not suffer from Great Inflation in the 1970s/80s?

Comparing the inflation rate of some of the industrial countries around 1975 (Great Inflation) in between the two oil shocks of 1973 and 1979/80, it seems odd that most countries' inflation rate was ...
j3141592653589793238's user avatar
1 vote
2 answers
87 views

Why people bought stocks in open outcry?

The human nature is to hide business strategy from business rivals, so how come stock exchange brokers brokers bought and sold shareholdings in open outcry directly in front of their rivals? This is ...
al-harumi-jidan's user avatar
2 votes
0 answers
16 views

What were the historical theories of price formation before demand-supply relationship was well understood?

Markets have existed for thousands of years. People must had ideas about where prices came from. Before the clear formulation of demand/supply-based theory of prices, what were the historical theories ...
J Li's user avatar
  • 291
3 votes
1 answer
72 views

Was there any currency backed by other metals than gold, silver or copper?

Was any other metal than gold, silver or copper ever in history used to back a currency?
Ezekiel's user avatar
  • 506
9 votes
2 answers
1k views

Did free markets cause the industrial revolution?

I want to know the justification for the posture that "free trade/liberalism caused the industrial revolution". I would like to get arguments, books and video conferences about it. I was ...
jipome's user avatar
  • 91
1 vote
0 answers
68 views

Is there research on the level of individuals regarding the origins of hyperinflation? [closed]

I am interested in inflation, specifically hyperinflation. Can anybody point me to research (papers, books) done on the individual origins and mechanisms at work at the very beginning of ...
loonquawl's user avatar
  • 127
2 votes
1 answer
381 views

What are some good Phd or research programs for Economic History / Economic Thought History?

Please correct me if I am wrong, but my impression is that most "mainstream" economics programs are now focusing less and less on economic thought history. So, in order to do research on ...
Erin's user avatar
  • 47
0 votes
1 answer
56 views

How does the size of the largest cryptocurrency compare to the largest traditional currency?

'Money' has evolved throughout economic history, and has included moving from: barter economies (i.e. no 'Money' - simple trading of final goods/services) commodity money - money whose intrinsic ...
stevec's user avatar
  • 671
1 vote
2 answers
72 views

What happened to the dollar in Nov 1978?

Arthur Burns (1979): "Benign neglect" of the external value of the dollar came to an end dramatically, and I would hope irrevocably, in November 1978. What event(s) of Nov 1978 is Arthur ...
user23625's user avatar
2 votes
1 answer
74 views

Have Bernanke, Geithner, Paulson, or the Fed ever responded to Laurence Ball's accusations about Lehman?

Ben Bernanke, Hank Paulson, and Timothy Geithner have repeatedly stated that they wanted to save Lehman Brothers but couldn't do so legally because Lehman didn't have enough collateral. Laurence Ball ...
user avatar
3 votes
0 answers
21 views

Could you recommend literature on the economy of ancient rome?

As the title states, I am looking for some sources on the economy of ancient Rome. To be more precise, I am interested mainly in the republican era (509BC - 27BC). Thanks.
Ezekiel's user avatar
  • 506
0 votes
0 answers
44 views

The role of Germany's economic growth in the outbreak of the Great War

This Wikipedia article shows that UK's economy was bigger than Germany's economy until 1900, but after 1910, Germany's GDP overtook UK and it became the first European economy. Imperialism is ...
user avatar
0 votes
0 answers
62 views

Bank Charter Act of 1844 vs banking landscape 2021 - regulatory capture or policy obsolescence?

A driving motivation for the Bank Charter Act of 1844 was to institutionalize/centralize seignorage and impose limits on how much influence commercial banks have in terms of money creation (along m4 ...
Arash Howaida's user avatar
5 votes
2 answers
232 views

Why is the rate of profit not important?

I've been taking some time to read up on the history of economic thought and am wondering why the rate of profit (which was a measure heavily discussed up to the 1970s) seems to disappear out of ...
EconJohn's user avatar
  • 8,345
6 votes
1 answer
96 views

What are the economic drivers of urbanisation?

It is regularly argued that urbanisation drives economic growth (e.g. here). I wonder which are the drivers that lead to urbanisation in the first place? I believe the historical case of the ...
sba222's user avatar
  • 831
2 votes
1 answer
92 views

Is there any economic explanation why industrialization first occured in Britain?

I am asking this question because historians often consider pre-industrialization Britain to be a poor and backward country relative to other European powers/states such as Spain, France, Italian city-...
Ezekiel's user avatar
  • 506
0 votes
0 answers
31 views

Are there any books on economy of the medieval England?

I would like to learn more about how the medieval economy in the UK worked. Are there any economists that research medieval society in the UK? Are there some good books on this?
Ezekiel's user avatar
  • 506
3 votes
1 answer
63 views

Were there any contemporary economists (or other observers) who considered the 1920s a "New Era" of greater growth and stability?

Eichengreen (2015, Hall of Mirrors): In the 1920s it was said that the world had entered a “New Era” of economic stability with the establishment of the Federal Reserve System and independent central ...
user avatar
1 vote
1 answer
137 views

How did the silver standard "insulate" China from the beginning of the Great Depression (1929-1931)

There is a segment from this article that I want to unpack: The Great Depression was a global crisis—almost. Every significant economy was devastated, with one notable exception: China. The reason ...
Arash Howaida's user avatar
5 votes
5 answers
1k views

What determines whether slavery is economically efficient in industrialized/modern era economies?

Various forms of slavery were nearly universal before the industrial revolution. After industrialization, it would naively seem forced labor would continue to be widespread, as there is no way to ...
user1441998's user avatar
2 votes
1 answer
47 views

The Dumping Argument and Trusts

I have often heard the following argument against the antimonopoly/anticollusion law: Whenever the entrepreneurs decide to enter into "illegal" collaboration, each one has an opportunity to ...
Zhiltsoff Igor's user avatar