Framed by the decline of the Heian aristocracy in the late 1100s and the rise of the Tokugawa shogunate in the early 1600s, Japan’s medieval era was a chaotic period of diffuse political power and frequent military strife. This instability prevented central authorities from regulating trade, issuing currency, enforcing contracts, or guaranteeing property rights. But the lack of a strong central government did not inhibit economic growth. Rather, it created opportunities for a wider spectrum of society to participate in trade, markets, and monetization.
Peripheral elites—including merchants, warriors, rural estate managers, and religious leaders—devised new ways to circumvent older forms of exchange by importing Chinese currency, trading in local markets, and building an effective system of long-distance money remittance. Over time, the central government recognized the futility of trying to stifle these developments, and by the sixteenth century it asserted greater control over monetary matters throughout the realm.
Drawing upon diaries, tax ledgers, temple records, and government decrees, Ethan Isaac Segal chronicles how the circulation of copper currency and the expansion of trade led to the start of a market-centered economy and laid the groundwork for Japan’s transformation into an early modern society.
The move to encourage trade with Canada and Mexico during the 1990s, culminating with the negotiation of the North American Free Trade Agreement (NAFTA), has had a long background extending as far back as the late eighteenth century. American trade with both Canada and Latin America rapidly increased during the last third of the nineteenth century as a result of burgeoning industry and agriculture in the United States. The Diplomacy of Trade and Investment is the first detailed examination of the economic and political forces behind this rapid growth and their effect on government policy.
Based on a thorough examination of government documents, congressional debates and reports, private papers of government and business leaders, and newspapers, David M. Pletcher begins this monumental study with a comprehensive survey of U.S. trade following the Civil War. He goes on to outline the problems of building a coherent trade policy toward Canada, Mexico, Central America, the Caribbean, and South America. The study concludes by analyzing a series of abortive trade reform efforts and examining the effects of the Spanish-American War.
Pletcher rejects the long-held belief that American business and government engaged in a deliberate, consistent drive for economic hegemony in the hemisphere during the late 1800s. Instead he finds that the American government improvised and experimented with ways to further trade expansion. But American businessmen were often more interested in domestic trade than in trade with foreign markets. In fact, many of them resisted efforts to lower the American tariff or otherwise encourage American trade abroad.
The combination of traditionalist and revisionist insight with Pletcher's own deep knowledge and research provides the reader with a comprehensive new interpretation of hemispheric trade expansion at the end of the nineteenth century.
Charles Kindleberger, an international economic specialist, seeks in this book to show how economic history and economic analysis can interact, giving particular attention to the question of how history can be used in a comparative setting to test economic models for generality. His history and examples span the seventeenth to the twentieth century. The important and unexpected result is to show how the applicable economic model in given instances is strongly conditioned by social, socio-psychological, and political settings in which a given stimulus elicits a particular response. As a by-product, Kindleberger throws light on the political economy of Western European states, especially in international economic dimensions, but also in technological change, scientific education, and economic growth.
In these spirited and lucid essays, Kindleberger discusses related and abiding economic questions: whether the creation of a world financial center is inevitable; what the possible bases for free trade are; how insights can be gained into present day multinational corporations; and how information networks can maximize benefits in trade, and can affect the quality of output, costs, and economies of scale.
Part of the author's interest is methodological. He believes that the comparative method—studying the same rather restricted problem in comparable economies in a fixed regional and temporal setting—yields richer insights than those available from the history of the single economy. While his own studies are limited to merchants, tariffs, free trade, capital markets, and ports, a methodological introductory chapter discusses a wider range of applications.
“The authors make some very critical interventions in this debate and scholars engaged in the environmental ‘pollution haven’ and ‘race to the bottom’ debates will need to take the arguments made here seriously, re-evaluating their own preferred theories to respond to the insightful theorizing and empirically rigorous testing that Zeng and Eastin present in the book.”
—Ronald Mitchell, University of Oregon
When István Hont died in 2013, the world lost a giant of intellectual history. A leader of the Cambridge School of Political Thought, Hont argued passionately for a global-historical approach to political ideas. To better understand the development of liberalism, he looked not only to the works of great thinkers but also to their reception and use amid revolution and interstate competition. His innovative program of study culminated in the landmark 2005 book Jealousy of Trade, which explores the birth of economic nationalism and other social effects of expanding eighteenth-century markets. Markets, Morals, Politics brings together a celebrated cast of Hont’s contemporaries to assess his influence, ideas, and methods.
Richard Tuck, John Pocock, John Dunn, Raymond Geuss, Gareth Stedman Jones, Michael Sonenscher, John Robertson, Keith Tribe, Pasquale Pasquino, and Peter N. Miller contribute original essays on themes Hont treated with penetrating insight: the politics of commerce, debt, and luxury; the morality of markets; and economic limits on state power. The authors delve into questions about the relationship between states and markets, politics and economics, through examinations of key Enlightenment and pre-Enlightenment figures in context—Hobbes, Rousseau, Spinoza, and many others. The contributors also add depth to Hont’s lifelong, if sometimes veiled, engagement with Marx.
The result is a work of interpretation that does justice to Hont’s influence while developing its own provocative and illuminating arguments. Markets, Morals, Politics will be a valuable companion to readers of Hont and anyone concerned with political economy and the history of ideas.
This book, an in-depth study of Nationalist tariff policy, fundamentally challenges the widely accepted idea that the key to the Communist seizure of power in China lay in the incompetence of Chiang Kai-shek’s Nationalist government. It argues instead that during the second Sino-Japanese War, China’s international trade, the Nationalist government’s tariff revenues, and hence its fiscal policy and state-making project all collapsed.
Because tariffs on China’s international trade produced the single greatest share of central government revenue during the Nanjing decade, the political existence of the Nationalist government depended on tariff revenue. Therefore, Chinese economic nationalism, both at the official and popular levels, had to be managed carefully so as not to jeopardize the Nationalist government’s income. Until the outbreak of war in 1937, the Nationalists’ management of international trade and China’s government finances was largely successful in terms of producing increasing and sustainable revenues. Within the first year of war, however, the Nationalists lost territories producing 80 percent of tariff revenue. Hence, government revenue declined just as war-related expenditure increased, and the Nationalist government had to resort to more rapacious forms of revenue extraction—a decision that had disastrous consequences for both its finances and its political viability.
Rival Empires of Trade in the Orient, 1600-1800 was first published in 1976. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions.
This volume presents an account of European expansion in Asia through the seventeenth and eighteenth centuries - the story of the rivalries of the East India companies and the growth of British maritime dominance which forged the Pax Britannica destined to keep Asia under European control until 1941. The author explains that it is called Rival Empires of Trade in the Orient because the few thousands of Europeans who built these empires thought of themselves primarily as merchants rather than as rulers.
The book consists of two parts, the first, narrative, the second, interpretive. The story of European commercial activity in the East is told in three chapters, the first ending with the Dutch conquest of Ceylon in 1656 and the reorganization and revival of the English East India Company as a permanent joint stock company under Oliver Cromwell's charter of 1657. The second chapter ends with the European peace settlement at Utrecht in 1713, and the third with the establishment of British preponderance in the East India trade at the close of the eighteenth century.
In the second part the author discusses the organization and structure of East India companies, the commodities in East India trade, the nature, growth, and development of the "country trade," and the relations between Europeans and Asians with some reference to the growth of European knowledge of Asia and the influence of the European presence in Asia on social history in both Asia and Europe.
Until this century, Northern Nigeria was a major center of textile production and trade. Textile Ascendancies: Aesthetics, Production, and Trade in Northern Nigeria examines this dramatic change in textile aesthetics, technologies, and social values in order to explain the extraordinary shift in textile demand, production, and trade.
Textile Ascendancies provides information for the study of the demise of textile manufacturing outside Nigeria. The book also suggests the conundrum considered by George Orwell concerning the benefits and disadvantages of “mechanical progress,” and digital progress, for human existence. While textile mill workers in northern Nigeria were proud to participate in the mechanization of weaving, the “tendency for the mechanization of the world” represented by more efficient looms and printing equipment in China has contributed to the closing of Nigerian mills and unemployment.
Textile Ascendancies will appeal toanthropologists for its analyses of social identity as well as how the ethnic identity of consumers influences continued handwoven textile production. The consideration of aesthetics and fashionable dress will appeal to specialists in textiles and clothing. It will be useful to economic historians for the comparative analysis of textile manufacturing decline in the 21st century. It will also be of interest to those thinking about global futures, about digitalization, and how new ways of making cloth and clothing may provide both employment and environmentally sound production practices.
How much does a country's commercial policy affect its economic efficiency? How would free trade change the structure of a country’s economy and foreign trade? William Penfield Travis extends the Heckscher-Ohlin trade theory and addresses it to an empirical study of these and related questions. He argues that trade flows fail to reflect relative factor endowments because protection systematically nullifies their effects, and that therefore protection must be incorporated in any positive trade theory.
The author begins by developing a new concept—the equalization region—which he uses to reexamine the assumptions and the logic of the Heckscher-Ohlin theory and of its principal part, the factor-price equalization theorem. This analysis produces a fundamental reinterpretation of Leontief’s scarce-factor paradox, one which justifies Leontief’s work as an empirical test of trade theory under free trade which indicates its necessary modifications under protection. These modifications are then used to show that Leontief in fact measured the effects of American and foreign tariffs and other trade restriction on relative factor prices here and abroad.
To corroborate his theoretical analysis, Travis makes a detailed study of the commercial policies of five main industrial countries; he shows the common structure of protection and its systematic relationship to relative factor endowments. He shows also that protection, by distorting their relative prices, causes considerable substitution of raw materials for labor and capital inputs in manufacturing. The author concludes this important book by indicating some of the new forms which protection is taking throughout the world and by arguing that protection, past and present, is the main force preventing the spread of high living standards to the impoverished areas of the world.
Relations between the Chosŏn and Qing states are often cited as the prime example of the operation of the “traditional” Chinese ”tribute system.” In contrast, this work contends that the motivations, tactics, and successes (and failures) of the late Qing Empire in Chosŏn Korea mirrored those of other nineteenth-century imperialists. Between 1850 and 1910, the Qing attempted to defend its informal empire in Korea by intervening directly, not only to preserve its geopolitical position but also to promote its commercial interests. And it utilized the technology of empire—treaties, international law, the telegraph, steamships, and gunboats.
Although the transformation of Qing–Chosŏn diplomacy was based on modern imperialism, this work argues that it is more accurate to describe the dramatic shift in relations in terms of flexible adaptation by one of the world’s major empires in response to new challenges. Moreover, the new modes of Qing imperialism were a hybrid of East Asian and Western mechanisms and institutions. Through these means, the Qing Empire played a fundamental role in Korea’s integration into regional and global political and economic systems.
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