Prometheus Shackled

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Prometheus Shackled

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Author : Peter Temin
language : en
Publisher: Oxford University Press
Release Date : 2013-01-02

Prometheus Shackled written by Peter Temin and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-02 with Business & Economics categories.

After 1688, Britain underwent a revolution in public finance, and the cost of borrowing declined sharply. Leading scholars have argued that easier credit for the government, made possible by better property-rights protection, lead to a rapid expansion of private credit. The Industrial Revolution, according to this view, is the result of the preceding revolution in public finance. In Prometheus Shackled, prominent economic historians Peter Temin and Hans-Joachim Voth examine this hypothesis using new, detailed archival data from 18th century banks. They conclude the opposite: the financial revolution led to an explosion of public debt, but it stifled private credit. This led to markedly slower growth in the English economy. Temin and Voth collected detailed data from several goldsmith banks: Child's, Gosling's, Freame and Gould, Hoare's, and Duncombe and Kent. The excellent records from Hoare's, founded by Sir Richard Hoare in 1672, offer particular insight. Numerous entrants into the banking business tried their hand at deposit-taking and lending in the early 17th century; few survived and fewer thrived. Hoare's and a small group of competitors did both. Temin and Voth chart the growth of the successful banks in the face of frequent wars and heavy-handed regulations. Their new data allows insights into the interaction between financial and economic development. Government regulations such as (a sharply lower) maximum interest rate caused severe misallocation of credit, and a misguided attempt to lighten the nation's debt burden led directly to the South Sea Bubble in 1720. Frequent wars caused banks to call in loans, resulting in a sharply slower economic growth rate. Based on detailed micro-data, the authors present conclusive evidence that wartime borrowing crowded out investment. Far from fostering economic development, England's financial revolution after 1688 did much to stifle it -- the Hanoverian "warfare state" was a key reason for slow growth during Britain's Industrial Revolution. Prometheus Shackled is a revealing new take on one of the most important periods of economic and financial development.

Prometheus Shackled

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Author : Peter Temin
language : en
Publisher: Oxford University Press
Release Date : 2013-02-14

Prometheus Shackled written by Peter Temin and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-14 with Business & Economics categories.

After 1688, Britain underwent a revolution in public finance, and the cost of borrowing declined sharply. Leading scholars have argued that easier credit for the government, made possible by better property-rights protection, lead to a rapid expansion of private credit, and see the Industrial Revolution as a result of the preceding revolution in public finance. In Prometheus Shackled, prominent economic historians Peter Temin and Hans-Joachim Voth examine this hypothesis using new, detailed archival data from 18th century banks. They conclude the opposite: the financial revolution led to an explosion of public debt, but it stifled private credit. This resulted in markedly slower growth in the English economy. Temin and Voth collected detailed data from several goldsmith banks - Child's, Gosling's, Freame and Gould, Hoare's, and Duncome and Kent. The authors look closely at Hoare's, founded by Sir Richard Hoare in 1672, because of its excellent records. Numerous entrants tried their hand at the new business of deposit banking; few survived and fewer thrived. Hoare's and a small group of competitors did both. Temin and Voth chart their growth in the face frequent wars and heavy-handed regulations. This new data allows insights into the interaction between financial and economic development. Government regulations such as setting a maximum interest rate caused severe misallocation of credit; a misguided attempt to lighten the nation's debt burden led directly to the South Sea Bubble in 1720 - analyzed in detail here - and frequent wars caused banks to call in loans, leading to sharply slower economic growth rate. Wartime borrowing crowded out investment. Far from fostering economic development, England's financial revolution after 1688 did much to slow it down - the Hanoverian "warfare state" was a key reason for slow growth during Britain's Industrial Revolution. Prometheus Shackled is a revealing new take on one of the most important eras of financial development.

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Author :
language : en
Publisher: Oxford University Press
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written by and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.

Autonomous Knowledge

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Author : J. Adam Carter
language : en
Publisher: Oxford University Press
Release Date : 2022

Autonomous Knowledge written by J. Adam Carter and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Philosophy categories.

Autonomous Knowledge: Radical Enhancement, Autonomy, and the Future of Knowing motivates and develops a new research programme in epistemology that is centred around the concept of epistemic autonomy.

Citadel Culture

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Author : Otto Karl Werckmeister
language : en
Publisher: University of Chicago Press
Release Date : 1991-06-25

Citadel Culture written by Otto Karl Werckmeister and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-06-25 with Art categories.

"Citadel" evokes a rich mixture of associations—from images of urban centers of commerce and culture to war and the need to defend what is fortified within. Preserving its layered meanings, O. K. Werckmeister plucks the word from its usual moorings and employs it as a compelling metaphor in a brilliant retrospective of contemporary Western culture.

Corporate Structure And Banking Resolution

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Author : Marcelo J. Sheppard Gelsi
language : en
Publisher: Springer Nature
Release Date : 2024-06-06

Corporate Structure And Banking Resolution written by Marcelo J. Sheppard Gelsi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-06-06 with Business & Economics categories.

This book provides a legal analysis of the regulation of bank-based financial conglomerates from a structural, commercial, and regulatory perspective. It includes a comparative analysis of the regulation of bank-based financial conglomerates from the standpoint of the three jurisdictions that established a distinct regulatory model, i.e. Germany, the UK, and the US. At the same time, it analyses which banking resolution strategy is most appropriate for different models, taking into account four factors applicable to bank insolvency. The book further examines the types of capital structure associated with each model, and in particular how BBFCs have influenced industry developments in Germany, the United Kingdom, the United States, and the EU. While there are several books that focus on the regulation of banks, insurance companies, and securities firms, this book will include the first analysis of BBFC from a structural, commercial, and resolution standpoint, analysing not only the three major jurisdictions but three different BBFC models, and will be of particular interest to students, researchers, and professors of banking and financial institutions.

Making Money

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Author : Christine Desan
language : en
Publisher: OUP Oxford
Release Date : 2014-11-27

Making Money written by Christine Desan and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-27 with Law categories.

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.

Olympians Hephaistos

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Author : George O'Connor
language : en
Publisher: First Second
Release Date : 2019-01-29

Olympians Hephaistos written by George O'Connor and has been published by First Second this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-29 with Juvenile Fiction categories.

George O’Connor’s vibrant, kinetic art brings ancient tales to life in the New York Times Bestselling series The Olympians. This fusion of super-hero aesthetics and ancient Greek mythology is perfect for fans of Percy Jackson! Thrown from Mount Olympus as a newborn and caught by Thetis and Eurynome, who raised him on the island of Lemnos, Hephaistos had an aptitude for creating beautiful objects from a very young age. Despite his rejection from Olympus, he swallowed his anger and spent his days perfecting his craft. His exquisitely forged gifts and weapons earned him back his seat in the heavens, but he was not treated as an equal—his brothers and sisters looked down at him for his lame leg, and even his own wife, Aphrodite, was disloyal. Witness Hephaistos’ wrath in God of Fire as he creates a plan that’ll win him the respect he deserves.

The Great Depression Of The 1930s

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Author : Nicholas Crafts
language : en
Publisher: Oxford University Press, USA
Release Date : 2013-02-28

The Great Depression Of The 1930s written by Nicholas Crafts and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-28 with Business & Economics categories.

This book brings together contributions written by internationally distinguished economic historians. The editors explore the current fascination with the 1930s great depression, and link it with the great recession which began in 2007 and still poses a threat to economic stability.

Heirs Of Flesh And Paper

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Author : Tom Tölle
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2022-03-07

Heirs Of Flesh And Paper written by Tom Tölle and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-07 with History categories.

"Heirs of Flesh and Paper" tells the story of early modern dynastic politics through subjects’ practical responses to royal illness, failing princely reproduction, and heirs’ premature deaths. It treats connected dynastic crises between 1699 and 1716 as illustrative for early modern European political regimes in which the rulers’ corporeality defined politics. This political order grappled with the endemic uncertainties induced by dynastic bodies. By following the day-to-day practices of knowledge making in response to the unpredictability of royal health, the book shows how the ruling family’s mortal coils regularly threatened to destabilize the institutionalized legal fiction of kingship. Dynastic politics was not only as a transitory stage of state formation, part of elite cooperation, or a cultural construct. It needs to be approached through everyday practices that put ailing dynastic bodies front and center. In a period of intensifying political planning, it constituted one of the most important sites for changing the political itself.