The Cambridge History of Capitalism: Volume 1, The Rise of Capitalism: From Ancient Origins to 1848

Description

The first volume of The Cambridge History of Capitalism provides a comprehensive account of the evolution of capitalism from its earliest beginnings. Starting with its distant origins in ancient Babylon, successive chapters trace progression up to the 'Promised Land' of capitalism in America. Adopting a wide geographical coverage and comparative perspective, the international team of authors discuss the contributions of Greek, Roman, and Asian civilizations to the development of capitalism, as well as the Chinese, Indian and Arab empires. They determine what features of modern capitalism were present at each time and place, and why the various precursors of capitalism did not survive. Looking at the eventual success of medieval Europe and the examples of city-states in northern Italy and the Low Countries, the authors address how British mercantilism led to European imitations and American successes, and ultimately, how capitalism became global.

Larry Neal is Emeritus Professor of Economics at the University of Illinois, Urbana-Champaign, Research Associate of the National Bureau of Economic Research, and Visiting Professor at the London School of Economics and Political Science. Specializing in financial history and European economies, he is author of The Rise of Financial Capitalism: International Capital Markets in the Age of Reason (Cambridge, 1990) and The Economics of Europe and the European Union (Cambridge, 2007), and is co-editor of The Origins and Development of Financial Markets and Institutions: From the Seventeenth Century to the Present (Cambridge, 2009) and 'I am Not Master of Events': The Speculations of John Law and Lord Londonderry in the Mississippi and South Sea Bubbles (2012). Jeffrey G. Williamson is Emeritus Laird Bell Professor of Economics, Harvard University, Massachusetts and Honorary Fellow in the Department of Economics, University of Wisconsin, Madison. He is also Research Associate of the National Bureau of Economic Research, Research Fellow at the Centre for Economic Policy Research, and has been a visiting professor at seventeen universities around the world. Professor Williamson specializes in development, inequality, globalization and history, and he is the author of around 230 scholarly articles and 30 books, his most recent being Trade and Poverty: When the Third World Fell Behind (2011), Globalization and the Poor Periphery before 1950 (2006), Global Migration and the World Economy (2005, with T. Hatton) and Globalization in Historical Perspective (2003, edited with M. Bordo and A. M. Taylor).

'In many respects the history of capitalism is the history most relevant to our times. It's a huge story and is well told in this very important book.' Lawrence H. Summers, Charles W. Eliot University Professor, Harvard University 'The two editors of The Cambridge History of Capitalism have done an excellent job in assembling an all-star group of scholars in presenting first-rate essays dealing with the development and accomplishments of capitalism and the important impacts of national and international markets for labor, capital, and goods throughout the world. These studies range in time from ancient Babylonia to today. All essays are superbly researched and highly informative in detailing the contributions of markets and of capitalism to global political and economic development.' Stanley Engerman, University of Rochester 'This is a book we have been waiting for: an authoritative analysis of the rise and development of global capitalism, inspired by the great classical economists and written by a team of excellent experts in the field. A fine update of our knowledge about one of the big questions in the social sciences.' Jan Luiten van Zanden, Universiteit Utrecht '... an inestimable contribution.' Oxford Today Review of the set: 'The editors deserve praise for assembling such a diverse and distinguished group of authors while maintaining coherence and cross-referencing across chapters ... the two volumes make a strong case that economic history as currently practiced is essential for an understanding of capitalism and its history.' David Mitch, EH.Net