Every country has its second, underground, unofficial, irregular or parallel economy. By their nature they are hidden and defy accurate and formal measurement. They provoke conceptual and definitional arguments among analysts. There has recently been a surge of interest; anecdote, newspaper reports and ‘educated guesses’ have increasingly been replaced by serious analysis. However, most of the new generation of studies are of developed economies.
This book examines the effect on a developing economy. It explores the causes, identifies the key sectoral manifestations and reveals the various groups of actors. It attempts to establish the size of the second economy of Tanzania.
Various factors drove the official economy into distress. Tanzanian peasants, wage earners and firms resorted to legitimate and illegitimate activities to overcome state control and shortage of basic necessities.
This pioneering study will be invaluable for policy makers, international funding bodies and for students who are faced with trying to understand the realities of life behind the formal facade of economic theory and official statistics.
China has been an important player in the international economy for two thousand years and has historically exerted enormous influence over the development and nature of political and economic affairs in the regions beyond its borders, especially its neighbors.
Sino–Malay Trade and Diplomacy from the Tenth through the Fourteenth Century examines how changes in foreign policy and economic perspectives of the Chinese court affected diplomatic intercourse as well as the fundamental nature of economic interaction between China and the Malay region, a subregion of Southeast Asia centered on the Strait of Malacca.
This study’s uniqueness and value lie in its integration of archaeological, epigraphic, and textual data from both China and Southeast Asia to provide a rich, multilayered picture of Sino–Southeast Asian relations in the premodern era. Derek Heng approaches the topic from both the Southeast Asian and Chinese perspectives, affording a dual narrative otherwise unavailable in the current body of Southeast Asian and China studies literature.
The rise of Zanzibar was based on two major economic transformations. Firstly slaves became used for producing cloves and grains for export. Previously the slaves themselves were exported.
Secondly, there was an increased international demand for luxuries such as ivory. At the same time the price of imported manufactured gods was falling. Zanzibar took advantage of its strategic position to trade as far as the Great Lakes.
However this very economic success increasingly subordinated Zanzibar to Britain, with its anti-slavery crusade and its control over the Indian merchant class.
Professor Sheriff analyses the early stages of the underdevelopment of East Africa and provides a corrective to the dominance of political and diplomatic factors in the history of the area.
In a work of sweep and ambition, James Fichter explores how American trade proved pivotal to the evolution of capitalism in the United States and helped to shape the course of the British Empire.
Before the American Revolution, colonial merchants were part of a trading network that spanned the globe. After 1783, U.S. merchants began trading in the East Indies independently, creating a new class of investor-capitalists and the first generation of American millionaires. Such wealth was startling in a country where, a generation earlier, the most prosperous Americans had been Southern planters. This mercantile elite brought its experience and affluence to other sectors of the economy, helping to concentrate capital and create wealth, and paving the way for the modern business corporation.
Conducted on free trade principles, American trade in Asia was so extensive that it undermined the monopoly of the British East India Company and forced Britain to open its own free trade to Asia. The United States and the British Empire thus converged around shared, Anglo-American free-trade ideals and financial capitalism in Asia. American traders also provided a vital link to the Atlantic world for Dutch Java and French Mauritius, and were at the vanguard of Western contact with Polynesia and the Pacific Northwest.
Based on an impressive array of sources from Europe, Asia, Africa, and the United States, this pathbreaking book revolutionizes our understanding of the early American economy in a global context and the relationship between the young nation and its former colonial master.
A classic resource on the struggle for dominance in southern North America during the colonial period
This volume recounts the clashes and intrigues that played out over the landscape of the Old Southwest and across six decades as the Spanish, French, British, and ultimately Americans vied for control. Rivalry began soon after initial discovery, mapping, and exploration as the world powers, particularly England and France, competed for control of the lucrative fur trade in the Mississippi valley. The French attempted to establish trade networks stretching from the Atlantic Ocean inland to the Mississippi River and northward from ports on the Gulf of Mexico to the Ohio River. But they found the British already entrenched there.
Verner Crane guides us through this multinational struggle and navigates the border wars and diplomatic intrigues that played crucial roles in the settlement of the South by Euro-Americans. In his new introduction, Steven Hahn places the work in the context of its time, sketches its publication history, and provides biographical information on Crane.
This manual for students focuses on archival research in the economic and business history of the Republican era (1911–1949). Following a general discussion of archival research and research aids for the Republican period, the handbook introduces the collections of archives in the People’s Republic of China and the Republic of China on Taiwan that contain materials in the areas of economics and business, with data on the history of the archives, descriptions of their holdings, and publications on their collections.
The second half of the work consists of guided readings in Republican-era documents, such as government decrees, regulations, and business letters, with complete vocabulary lists and explanations of terms. Also included with the handbook are facsimile reproductions of these documents.
In Stateless Commerce, Barak Richman uses the colorful case study of the diamond industry to explore how ethnic trading networks operate and why they persist in the twenty-first century. How, for example, does the 47th Street diamond district in midtown Manhattan—surrounded by skyscrapers and sophisticated financial institutions—continue to thrive as an ethnic marketplace that operates like a traditional bazaar? Conventional models of economic and technological progress suggest that such primitive commercial networks would be displaced by new trading paradigms, yet in the heart of New York City the old world persists. Richman’s explanation is deceptively simple. Far from being an anachronism, 47th Street’s ethnic enclave is an adaptive response to the unique pressures of the diamond industry.
Ethnic trading networks survive because they better fulfill many functions usually performed by state institutions. While the modern world rests heavily on lawyers, courts, and state coercion, ethnic merchants regularly sell goods and services by relying solely on familiarity, trust, and community enforcement—what economists call “relational exchange.” These commercial networks insulate themselves from the outside world because the outside world cannot provide those assurances.
Extending the framework of transactional cost and organizational economics, Stateless Commerce draws on rare insider interviews to explain why personal exchange succeeds, even as most global trade succumbs to the forces of modernization, and what it reveals about the limitations of the modern state in governing the economy.
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