making money coin currency and the coming of capitalism

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Making Money

Author : Christine Desan
ISBN : 9780191025396
Genre : Law
File Size : 22. 61 MB
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Money travels the modern world in disguise. It looks like a convention of human exchange - a commodity like gold or a medium like language. But its history reveals that money is a very different matter. It is an institution engineered by political communities to mark and mobilize resources. As societies change the way they create money, they change the market itself - along with the rules that structure it, the politics and ideas that shape it, and the benefits that flow from it. One particularly dramatic transformation in money's design brought capitalism to England. For centuries, the English government monopolized money's creation. The Crown sold people coin for a fee in exchange for silver and gold. 'Commodity money' was a fragile and difficult medium; the first half of the book considers the kinds of exchange and credit it invited, as well as the politics it engendered. Capitalism arrived when the English reinvented money at the end of the 17th century. When it established the Bank of England, the government shared its monopoly over money creation for the first time with private investors, institutionalizing their self-interest as the pump that would produce the money supply. The second half of the book considers the monetary revolution that brought unprecedented possibilities and problems. The invention of circulating public debt, the breakdown of commodity money, the rise of commercial bank currency, and the coalescence of ideological commitments that came to be identified with the Gold Standard - all contributed to the abundant and unstable medium that is modern money. All flowed as well from a collision between the individual incentives and public claims at the heart of the system. The drama had constitutional dimension: money, as its history reveals, is a mode of governance in a material world. That character undermines claims in economics about money's neutrality. The monetary design innovated in England would later spread, producing the global architecture of modern money.

Making Money

Author : Christine Desan
ISBN : 9780198709572
Genre : Business & Economics
File Size : 39. 54 MB
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In this revisionist history of the development of the modern monetary system, Christine Desan argues that money effectively creates economic activity rather than emerging from it. Her account demonstrates that money's design has been a project central to governance and formative to markets.

Making Money

Author : Christine Desan
ISBN : 9780191025389
Genre : Law
File Size : 37. 98 MB
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Money travels the modern world in disguise. It looks like a convention of human exchange - a commodity like gold or a medium like language. But its history reveals that money is a very different matter. It is an institution engineered by political communities to mark and mobilize resources. As societies change the way they create money, they change the market itself - along with the rules that structure it, the politics and ideas that shape it, and the benefits that flow from it. One particularly dramatic transformation in money's design brought capitalism to England. For centuries, the English government monopolized money's creation. The Crown sold people coin for a fee in exchange for silver and gold. 'Commodity money' was a fragile and difficult medium; the first half of the book considers the kinds of exchange and credit it invited, as well as the politics it engendered. Capitalism arrived when the English reinvented money at the end of the 17th century. When it established the Bank of England, the government shared its monopoly over money creation for the first time with private investors, institutionalizing their self-interest as the pump that would produce the money supply. The second half of the book considers the monetary revolution that brought unprecedented possibilities and problems. The invention of circulating public debt, the breakdown of commodity money, the rise of commercial bank currency, and the coalescence of ideological commitments that came to be identified with the Gold Standard - all contributed to the abundant and unstable medium that is modern money. All flowed as well from a collision between the individual incentives and public claims at the heart of the system. The drama had constitutional dimension: money, as its history reveals, is a mode of governance in a material world. That character undermines claims in economics about money's neutrality. The monetary design innovated in England would later spread, producing the global architecture of modern money.

A Nation Of Counterfeiters

Author : Stephen Mihm
ISBN : 9780674041011
Genre : History
File Size : 72. 77 MB
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Prior to the Civil War, the United States did not have a single, national currency. Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation. Their success, Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by freewheeling capitalism and little government control. Mihm shows how eventually the older monetary system was dismantled, along with the counterfeit economy it sustained.

American Capitalism

Author : Sven Beckert
ISBN : 9780231546065
Genre : Business & Economics
File Size : 71. 64 MB
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The United States has long epitomized capitalism. From its enterprising shopkeepers, wildcat banks, violent slave plantations, huge industrial working class, and raucous commodities trade to its world-spanning multinationals, its massive factories, and the centripetal power of New York in the world of finance, America has come to symbolize capitalism for two centuries and more. But an understanding of the history of American capitalism is as elusive as it is urgent. What does it mean to make capitalism a subject of historical inquiry? What is its potential across multiple disciplines, alongside different methodologies, and in a range of geographic and chronological settings? And how does a focus on capitalism change our understanding of American history? American Capitalism presents a sampling of cutting-edge research from prominent scholars. These broad-minded and rigorous essays venture new angles on finance, debt, and credit; women’s rights; slavery and political economy; the racialization of capitalism; labor beyond industrial wage workers; and the production of knowledge, including the idea of the economy, among other topics. Together, the essays suggest emerging themes in the field: a fascination with capitalism as it is made by political authority, how it is claimed and contested by participants, how it spreads across the globe, and how it can be reconceptualized without being universalized. A major statement for a wide-open field, this book demonstrates the breadth and scope of the work that the history of capitalism can provoke.

Making Money

Author : Ole Bjerg
ISBN : 9781781682654
Genre : Business & Economics
File Size : 61. 24 MB
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Analyzes the concept of money philosophically and argues that the current financial turbulence and debt crisis are evidence that the world is living in an age of post-credit capitalism.

Casualties Of Credit

Author : Carl Wennerlind
ISBN : 9780674062665
Genre : History
File Size : 78. 96 MB
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With a circulating credit currency, a modern national debt, and sophisticated financial markets, England developed a fiscal-military state that instilled fear and facilitated the first industrial revolution. Yet this new system of credit was precarious and prone to accidents, and it depended on trust, public opinion, and ultimately violence.

Private Power And Global Authority

Author : A. Claire Cutler
ISBN : 9781107320420
Genre : Political Science
File Size : 84. 88 MB
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Transnational merchant law, which is mistakenly regarded in purely technical and apolitical terms, is a central mediator of domestic and global political/legal orders. By engaging with literature in international law, international relations and international political economy, this book develops the conceptual and theoretical foundations for analyzing the political significance of international economic law. In doing so, it illustrates the private nature of the interests that this evolving legal order has served over time. The book makes a sustained and comprehensive analysis of transnational merchant law and offers a radical critique of global capitalism.

Capitalism And The Jews

Author : Jerry Z. Muller
ISBN : 9781400834365
Genre : History
File Size : 76. 5 MB
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The unique historical relationship between capitalism and the Jews is crucial to understanding modern European and Jewish history. But the subject has been addressed less often by mainstream historians than by anti-Semites or apologists. In this book Jerry Muller, a leading historian of capitalism, separates myth from reality to explain why the Jewish experience with capitalism has been so important and complex--and so ambivalent. Drawing on economic, social, political, and intellectual history from medieval Europe through contemporary America and Israel, Capitalism and the Jews examines the ways in which thinking about capitalism and thinking about the Jews have gone hand in hand in European thought, and why anticapitalism and anti-Semitism have frequently been linked. The book explains why Jews have tended to be disproportionately successful in capitalist societies, but also why Jews have numbered among the fiercest anticapitalists and Communists. The book shows how the ancient idea that money was unproductive led from the stigmatization of usury and the Jews to the stigmatization of finance and, ultimately, in Marxism, the stigmatization of capitalism itself. Finally, the book traces how the traditional status of the Jews as a diasporic merchant minority both encouraged their economic success and made them particularly vulnerable to the ethnic nationalism of the nineteenth and twentieth centuries. Providing a fresh look at an important but frequently misunderstood subject, Capitalism and the Jews will interest anyone who wants to understand the Jewish role in the development of capitalism, the role of capitalism in the modern fate of the Jews, or the ways in which the story of capitalism and the Jews has affected the history of Europe and beyond, from the medieval period to our own.

Sugar And The Making Of International Trade Law

Author : Michael Fakhri
ISBN : 9781107040526
Genre : Law
File Size : 71. 46 MB
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"Comparative law is increasingly used as a tool in the making of law at national, regional and international levels. Private international law is now often affected by international conventions, and the issues faced by classical conflicts rules are frequently dealt with by substantive harmonisation of law under international auspices"--

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