7

In a detailed review of Clark's book, concluding that its "central theses ... are contradicted by well-known evidence" (p 969), Robert Allen addresses the claim about 1800 and 100,000 BC in a section headed "Malthus in the Very Long Run" (pp 951-5). His criticisms of Clark include: That he has no evidence of living standards in 100,000 BC, but relies on an ...


5

It has certainly been argued in various places that Haiti was the "richest" colony. It's obviously difficult to reconstruct modern measures of wealth such as per capita income for historical territories, and the metric of "rich" that mattered in the day was how much revenue could be extracted by the colonial government, so assessments may be skewed towards ...


4

According to some yes. In this (historically oriented) view, whatever succeeded feudalism is called capitalism. Capitalism, broadly accepted as a phase of history, is dominating the last half-a-millennium. It has also become conventional that capitalism itself had various phases and stages. Its antecedents go back to ancient history. Barter and exchange ...


3

Not to be too obvious about it, but couldn't you just say Jeremy Bentham? The calculus of choosing bundles that maximizes pleasure specified a very simple utility function in words.


3

There is an ongoing project to try and estimate how close a society is to the ideal, see the indices of economic freedom by the Heritage Foundation and the Fraser Institute. The ones who made They score countries from 0 (all-pervasive state control) to 10. Hong Kong (8.91) and Singapore (8.71) are currently the two countries closest to the ideal, according ...


3

Unfortunately, I'm not sure this will really answer the questions you raised to your satisfaction, but I can at least give some of them a try: First Note: It wasn't 40% of the GDP of the Empire, but rather the 20 million GBP sum was equivalent to 40% of their annual governmental expenditures (or 5% of the Empire's contemporary GDP) source here. Regarding ...


3

I doubt that the sunk-cost fallacy was a major reason why the Concorde project was pursued for so long (approved by the UK government 1962, entered commercial service 1976). Any "emotional impact on British citizens" that it was feared cancellation would cause would more likely have been due to a loss of national prestige (this was a time when many in ...


2

According to Allen (2001), real wages expanded throughout the 19th century in the UK. You seem to imply that they did not. The graph below shows that the UK (London) had higher wages+cost of living than the rest of Europe (except the Netherlands) for several centuries, whereas the rising productivity in the 19th century (because of industrialisation) enabled ...


2

This is a "there can be no adequate answer" answer, for periods prior to "imperialism as a world system." (Personally, I'd pick 1880s here, ymmv.) Gross domestic product as a conceptual tool contains a number of assumptions about how economies function which are unsustainable prior to the generalisation of capitalism in the Marxian sense. While it might ...


2

Rosenthal (1958) lists the bibliography of previous translation efforts, the only relevant for Marx: 2) A complete French translation, under the title of Prolegomenes historiques d'Ibn Khaldoun, was published by William MacGuckin de Slane on the basis of Quatremere's edition and with comparison of the Paris manuscripts used by Quatremere, the first Bulaq ...


1

As @H2ONaCl correctly points out the mechanism that you mention can be well described by "Baumol's cost disease" mechanism associated perhaps most clearly with this 1966 article William J. Baumol and William G. Bowen, “On the Performing Arts: The Anatomy of their Economic Problems.” The American Economic Review, Vol. 55, No. 2, 1965, pp. 495-502 and ...


1

When comparing industries it is almost intuitive that a relative productivity increase causes a relative price decrease in the absence of anything else happening. The reason it is intuitive is that all the competitors within the same industry probably benefit from the same productivity increase so together you can all raise prices slowly or not at all or ...


1

The German mathematician-turned-economist William Lexis (1837-1914) considered capitalism as "dat[ing] back to the Middle Ages": Large-scale enterprise based on the ownership of money, and operating on the basis of such monetary power; and its beginnings which date back to the Middle Ages are to be found in commercial and banking enterprises. Also, so ...


1

In theory there is nothing that is preventing the real interest rate from becoming negative. Making the real interest rate negative by keeping the nominal rate at zero and creating inflation has been the goal of the ECB in the recent past. Once you hit the ZLB there is no other way to further loosen monetary policy. With regard to your work it is probably ...


1

Gérard Debreu precisely defined the conditions required for a preference ordering to be representable by a utility function.


1

Why do you think no new money was going into the system? The accounts where unauthorized rather than fake. Wells Fargo charged their existing customers for additional accounts that they did not request. Wells Fargo clients began to notice the fraud after being charged unanticipated fees and receiving unexpected credit or debit cards or lines of credit. ...


1

Debt Crises are the inability to pay interest on the debt a country has already taken up to that point. There are many theories, about how such crises can develop, however all have one thing in common. You need debt to have a debt crisis. What is debt? Debt is when a country spends too much compared to how much it earns (in case you are familiar with ...


1

Rondo Cameron's A Concise Economic History of the World may be helpful. I read an early edition many years ago and it certainly is primarily economic history rather than history of economic thought. One limitation however, identified in this review, is that despite its title it focuses mainly on Europe.


1

One additional point for the reluctance to show a failure would be the first steps of the European Consortium Airbus starting at the same time, finally disputing the US-dominated market of commercial airliners (at the time with McDonnel-Douglas DC9/10 and Boeing 727/737s). As both BAC (British) and Aérospatiale (French) were manufacturers highly involved ...


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