The Invisible Hand? «How Market Economies have Emerged and Declined Since AD 500»

Bas Van Bavel
Editorial: Oxford University Press
ISBN: 978-0-19-882045-1
Páginas: 352

 

 

 

 

SINOPSIS: 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. They rise, stagnate, and decline; and consist of very different combinations of institutions embedded in very different societies. These market economies create flexibility and high mobility in the exchange of land, labour, and capital, and initially they generate economic growth, although they also build on existing social structures, as well as existing exchange and allocation systems. The dynamism that results from the rise of factor markets leads to the rise of new market elites who accumulate land and capital, and use wage labour extensively to make their wealth profitable. In the long term, this creates social polarization and a decline of average welfare. As these new elites gradually translate their economic wealth into political leverage, it also creates institutional sclerosis, and finally makes these markets stagnate or decline again. This process is analysed across the 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, and then parallels drawn 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.

Recomendados

Nuevo libro coordinado por Raúl Molina

Se titula Pioneros. Empresas y empresarios en le primer tercio del siglo XX en España y puedes descargar su índice e introducción aquí. Este jueves día 12 de noviembre va

La construcción del poder real en la Monarquía castellana (siglos XI-XV)

José María Monsalvo Antón Editorial: Marcial Pons, Ediciones de Historia ISBN: 9788416662692 Páginas: 552  

Nuevo libro coordinado por Santiago de Luxán, Joao Figueiroa y Vicent Sanz sobre el monopolio del tabaco

El Centro de Estudios Políticos y Constitucionales, en su colección  Política y Sociedad en la Historia de España, acaba de publicar Grandes vicios, grandes ingresos El monopolio del tabaco en

Changes in Population, Inequality and Human Capital Formation in the Americas in the Nineteenth and Twentieth Centuries

Enriqueta Camps-Cura Changes in Population, Inequality and Human Capital Formation in the Americas in the Nineteenth and Twentieth Centuries: A Comparative Perspective 2019, Palgrave Macmillan. ISBN: 978-3-030-21351-0 The evolution of inequality

Sistemas laborales comparados. Las transformaciones de las relaciones de empleo en la era neoliberal

Sistemas laborales comparados. Las transformaciones de las relaciones de empleo en la era neoliberal Ignasi Brunet, Alejandro Pizzi y David Moral Barcelona, Anthropos Editorial, 2016 ISBN: 9788416421350 373 páginas Precio:

Regional Inequality in Spain «1860-2015»

      Alfonso Díez-Minguela,  Julio Martínez-Galarraga, Daniel Tirado Editorial: Palgrave Fecha publicación: 2019 ISBN: 978-3-319-96109-5 Páginas: 302