Questions tagged [history]

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2
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2answers
42 views

Did capitalism exist before the 18th century?

Were there capitalistic economies before the 18th century?
-1
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0answers
51 views

Is “laissez faire capitalism” what was practiced in economies before the advent of capitalism? [duplicate]

Is "laissez faire capitalism" what economies were before the advent of capitalism?
0
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0answers
20 views

What is “industrial capitalism”?

What's the difference between "industrial capitalism" and "agrarian capitalism" and "mercantilism" and the "industrial revolution" and the 20th century ideas of "Keynesianism"? Is agrarian capitalism-...
7
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2answers
117 views

Predicted recessions that never happened

It seems generally accepted that recessions are hard to forecast, in both onset and intensity, but the bias seems to be toward rosy outlooks: The main finding is that, while forecasters are ...
0
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1answer
43 views

Leontief Tableau Économique (produit net)

I’m doing some practice questions and I found this one about calculating produit net. I know that produit net or surplus is the amount that has to be paid to the landlords, and which becomes available ...
0
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0answers
12 views

Is there a 19th century or early 20th century economist who proposed an energy-based currency?

I'm familiar with the '20s era attempts at the "energy dollar" from Edison and Ford, but are there earlier instances of energy currencies?
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2answers
107 views

Key points for a speech on Capitalism [closed]

I was given an English task in which the teacher has asked us to do a presentation/speech on Capitalism. The thing is he didn't specify which aspects (historical, economical and the political) we ...
1
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1answer
26 views

History of Municipal Bonds

Does anyone have a good book on the history of Muni Bonds that focuses on the reasons why they grew in popularity, adoption, and gov policy souring them. Background on why I need this info I am ...
2
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1answer
22 views

Need help reading early 20th century stock market list

I have a bit of a problem understanding the stock market price listings for the London stock market. I am mainly concerned with Argentinian government bonds. So far, I have always used the Investor's ...
4
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2answers
72 views

Who was the inventor of Utility function?

To my knowledge, the idea of representing weak-order with a function dates back to Cantor. So my questions are: 1) Was Cantor the first person to rigorize these kinds of representation? 2) Were ...
0
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2answers
43 views

How to convert an historic value denoted in foreign currency to a modern value in local currency?

I want to convert GBP in 1968 to USD in 2018, in order to "translate" an amount paid by an individual in Britain fifty years ago. My intention is that an American reader today will be able to better ...
0
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1answer
44 views

Does the Italian national debt really go all the way back to Mussolini's excessive prewar spending?

The WWI & WWII debt is quite well defined in the UK for example and quite shocking how many years it took to pay off. Somebody told me that the Italian debt crisis really goes all the way back ...
3
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1answer
39 views

Military expenditure over time

The following graph from the world bank website shows the world wide military expenditure in percentage of the world GDP over time from 1988 to 2015 I am trying to find similar data over a much ...
2
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1answer
31 views

Pascali (2015) Natural Experiment

In The Wind of Change: Maritime Technology, Trade and Economic Development (2015), Pascali estimates various effects on freight rates (i.e. the cost of transport) on outcomes such as trade volumes and ...
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0answers
59 views

What are some great economic reforms from the Middle Ages / the Ancient History?

Is there any great economic structural reforms, which date back to the Middle Ages or to the Ancient times?
1
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3answers
149 views

What are modern examples of established economic theories being used on a large scale in real life?

I was thinking recently how economic theories (the stuff they teach you in college) affects real-life decisions. I found some examples (see below), but most of them are from the past and many of those ...
2
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0answers
2k views

Has Trickle-Down economics ever worked?

With "trickle-down economics" on the tongue of Americans this year, I wanted to do some research. The prevailing opinion is "trickle-down economics doesn't work." I can find many resources which ...
6
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3answers
492 views

Who created the concept of “present value”?

I cannot find anything on this online. The wikipedia article is purely technical, except by a mention that such system was used in England in early 16th century. Do you know who was the first to come ...
4
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5answers
162 views

What are good books on economic world history?

I am trying to find a book that covers human history with a special focus on economics. It should answer questions like: What economic systems prevailed during which eras? How did these systems work ...
1
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0answers
35 views

Maximum wage laws in mercantilist France

One John K Williams (1986) writes that in mercantilist France, The government actually imposed maximum wage laws. Any employer who paid wages above a legally defined ceiling was charged with an ...
15
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1answer
1k views

How could the economic cost of the world not speaking the same language be estimated?

While languages are fun and add color and flair to cultures and make the world a more interesting place, they also have a cost. Beyond the monetary costs of translation/editing/proofreading, ...
3
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1answer
3k views

Was the aid in the Marshall Plan a loan?

In the aftermath of the Second World War the USA organised the Marshall plan for the post-war reconstruction of Europe. I take it this was actually a loan of some kind; on what kind of terms was the ...
1
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2answers
47 views

Historical GDP of world economies back to 1945: What are the most complete and reliable data sets?

I need the historical GDP of all modern countries (or at least the vast majority) from 1945 to now. It seems the world bank data only starts in 1960 or later. I found Angus Maddison's data, but I don'...
1
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1answer
37 views

Quantifying economic mobilization

Total war requires mobilization of the economy. The degree of a nation's mobilization can be quantified in two major ways: Negatively: as, e.g., the reduction of "non-essential consumer production" --...
2
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2answers
434 views

Did the idea of “making money” originate in the United States?

I am currently reading Atlas Shrugged by Ayn Rand and I came across an interesting paragraph related to Economics and American History. If you ask me to name the proudest distinction of Americans, ...
2
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0answers
39 views

When in the history the governments issued non-cash money first?

I understand that the Federal Reserve is issuing money in the form of deposits. Those deposits "are not cash but they are money: they can be used for payment (at which point they become somebody else'...
5
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2answers
136 views

When and why women left the labour market?

It is well documented that women in now developed countries entered the labour market all thoughout the 20th century. As such, female labour participation have consistently increased. For example, ...
1
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1answer
45 views

What are some good books, explaining why the society and economy developed like it is through the history?

It has always been fascinating to me why, out of so many other options, the society has developed in this way. So I was searching for resources which explain what chain of events-and why- from ...
1
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1answer
54 views

When was the supply and demand model first used?

Who created the supply and demand model in economics or when was it first used?
3
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0answers
127 views

Has there been anyone since the philosopher Thales that has held an extremely detached view of money, and also found innovative ways to profit?

According to legend anyway (ie Aristotle's account), Thales was a business man of his time! On the motive Thales had for attaining material possession, Aristotle held that Thales was only out to prove ...
6
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3answers
179 views

How wealthy are modern day humans compared to preindustrial times?

I would like to see a quantitative wealth comparison between the average human in a hunter gather or agrarian society to average human in the today's world. I'm mostly interested in how the discovery ...
1
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2answers
108 views

Rationale behind teaching History in University

I wrote an answer to this question regarding how economists evaluate a specific subject in a given curriculum. Subjects which develop skills that have labour market significance are valuable to a ...
3
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1answer
40 views

Is finance complex?

I am reading a book that is describing a group of people in the middle ages. It says "[they] had managerial and financial jobs, jobs of high complexity, and were neither farmers nor craftsmen". I am ...
2
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2answers
49 views

Recommended reading to understand American economic history

In India Unbound, the author goes over India's economic history, right from independence to present day. I am interested in a similar reading for the United States, specifically conditions in the 20th ...
1
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0answers
16 views

Delaying wages in response to slack?

I'm reading a book about the economic development of South Korea during the 'miracle' period. One of the points the author makes is the following: A major source of industrial disputes was ...
1
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0answers
1k views

What evidence is there that Adam Smith made mistakes in criticizing Mercantilism and upholding capitalism?

This commentator writes: On March 9, 1776, "An Inquiry into the Nature and Causes of the Wealth of Nations" (commonly referred to as simply "The Wealth of Nations") was published. Smith, a Scottish ...
6
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2answers
673 views

Why could interest rates go up if Brexit happens?

I was reading this article, George Osborne says Brexit would drive up mortgage rates: George Osborne has issued a stark warning that mortgage rates will rise if Britain leaves the European Union. ...
1
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0answers
54 views

What is the “natural rate of interest” vs. “money interest rate”?

What exactly is the distinction that Knut Wicksell made in his Interest & Prices between "natural rate of interest" or "natural interest" ("der natürliche Kapital zins") and the "money rate of ...
4
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2answers
436 views

Is money capital?

The Oxford English Dictionary defines "capital" as n. economic goods (e.g. railways, ships, machinery, buildings) destined for use in production (as opposed to consumers' goods). Historically, the ...
6
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1answer
77 views

Is there a study of world poverty rates over time pre 1800?

There seems to be research showing that world poverty rates have declined since 1800, see eg this. Is there any research on world poverty rates before this period? I am guessing that during this ...
5
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3answers
148 views

What is Islamic Banking?

What is "Islamic banking," and how is it similar to and different from banking as it occurs in the U.S.? I have heard Shariah Law prohibits usury, the taking of interest on loans. How do Muslim ...
5
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1answer
180 views

Book for Bretton Woods conferences and gold standard

I am looking for a good book to explain to me why the gold standard existed and why in the Bretton Woods conferences, some countries choose to abandon it. An explanation of the general scenario in a ...
2
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1answer
40 views

Could food storage prevent a depression?

In Genesis chapter 41 Joseph interpreted the dreams of Pharaoh about 7 years of plenty and 7 years of famine which resulted in saving Egypt from famine, among other things. I think this is a great ...
6
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2answers
4k views

When was fractional reserve banking introduced?

According to Wikipedia's history of banking article: Modern banking practice, including fractional reserve banking and the issue of banknotes emerged in the 17th century. The article on fractional ...
2
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0answers
47 views

Is the average age of economists getting higher than it was many years ago?

I read Hamermesh's 2012 paper, "Six Decades of Top Economics Publishing: Who and How?". He collected the data from QJE, AER and JPE. It seems that the average age of economists is now higher than it ...
4
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1answer
75 views

Was factory beef farming (in the USA) the result of government-subsidized corn?

In The Omnivore's Dilemma, Michael Pollan writes that industrial beef farming, in the form of concentrated animal feeding operations (CAFOs), is dependent on low corn prices for its cost-effectiveness....
7
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2answers
596 views

What causes the “imperialism of economics” and how did it start?

Wikipedia defines "economics imperialism" as follows: Economics imperialism (often economic imperialism) in contemporary economics refers to economic analysis of seemingly non-economic aspects of ...
10
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1answer
175 views

Do large public companies ever “quit while they're ahead”?

Large public companies (e.g. S&P 500) seem to end their lives in one of two ways: either they're acquired (or taken private), or they go bankrupt. Theoretically it seems like there should be a ...
7
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2answers
379 views

Historical US Housing Data Availability

Papers like Ng and Moench (2011) and Negro and Otrok (2007) use historical housing data to estimate latent variables that correspond to some "true" or "truer" measure of house prices or housing ...
18
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2answers
748 views

Why is capital income taxed differently than wage income?

Why is income from capital gains taxed differently than wage income? There are perhaps historical, practical, and theoretical reasons. What are they? (As far as historical reason go, I'm asking ...