| Description |
1 online resource |
| Contents |
Cover; The Invisible Hand? How Market Economies have Emerged and Declined since AD 500; Copyright; Preface; Contents; List of Figures, Maps, and Tables; 1: Introduction: Markets in Economics and History; 1.1. Markets, their historiography, and some major assumptions; Some Assumptions and Received Wisdom; 1.2. On the modernity of markets: the verdict of recent historical research; Recent Studies on the Rise of Factor Markets; Recent Historical Literature on the Relation between Markets, Wealth, and Freedom; 1.3. A new approach to markets: this book; Elements Investigated in the Book |
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1.4. Cases of market economiesPossible Cases of Market Economies; The Cases Investigated in this Book; 2: Markets in an Early Medieval Empire Iraq, 500-1100; 2.1. The rough contours of economic development; 2.2. Social revolts and the growth of factor markets from the fifth to the mid-eighth century; Social Revolts and Societal Balance; Land and Lease Markets; Labourers and Labour Markets; Credit and Financial Markets; 2.3. Dynamic factor markets and growing social inequality from the late eighth to the tenth century; Accumulation and Effects in Land and Lease Markets |
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Free Labourers and Growing Number of Slaves2.4. Long-run effects on economy, politics, and society from the ninth to the eleventh century; The Chronology of Economic Decline; Causes of the Economic Decline; 3: Markets in Medieval City-States: The Centre and North of Italy, 1000-1500; 3.1. The emergence of factor markets in the eleventh to thirteenth century; A Context of Relative Equity; The Early Rise of Land and Lease Markets; The Early Rise of Labour and Financial Markets; 3.2. Organization, context, and effects of dynamic factor markets, early fourteenth to mid-fifteenth century |
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The Mezzadria SystemIncreasingly Distorted Labour Markets and Coercion of Labour; 3.3. The changing social context of markets: power and property in the fifteenth and sixteenth centuries; The Growth of Burgher Landownership; Growing Financial Markets and Inequality of Wealth Distribution; Impotent Revolts, Professional Soldiers, and Growing Power of Market Elites; 3.4. Effects on economy, agriculture, and demography; The Regional Variations; Wealth and Elite Dominance; 4: Markets in Late Medieval and Early Modern Principalities: The Low Countries, 1100-1800 |
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4.1. The social context before and during the emergence of factor markets, from the twelfth to the fourteenth century4.2. The emergence of factor markets in the thirteenth to fifteenth century; Land and Lease Markets; Labour Markets; Money, Credit, and Capital Markets; 4.3. The functioning and effects of dynamic factor markets from the fifteenth to the mid-sixteenth century; Accumulation through Land and Lease Markets; The Further Growth of Labour and Capital Markets; The Social Effects of Extensive and Dynamic Factor Markets |
| Summary |
The Invisible Hand' offers a radical departure from the conventional wisdom of economists and economic historians, by showing that 'factor markets' and the economies dominated by them - the market economies - are not modern, but have existed at various times in the past. This work analyses three major, pre-industrial examples of successful market economies in western Eurasia: Iraq in the early Middle Ages, Italy in the high Middle Ages, and the Low Countries in the late Middle Ages and the early modern period. It then draws parallels to England and the United States in the modern period. These areas successively saw a rapid rise of factor markets and the associated dynamism, followed by stagnation, which enables an in-depth investigation of the causes and results of this process |
| Bibliography |
Includes bibliographical references and index |
| Subject |
Capitalism -- History
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BUSINESS & ECONOMICS -- Economics -- General.
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BUSINESS & ECONOMICS -- Reference.
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Capitalism
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| Genre/Form |
History
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| Form |
Electronic book
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| ISBN |
9780191779084 |
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0191779083 |
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9780191017674 |
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0191017671 |
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9780192552419 |
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0192552414 |
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