Making Money Coin Currency And The Coming Of Capitalism

Author: Christine Desan
Publisher: Oxford University Press
ISBN: 0198709587
Size: 57.40 MB
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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.

Making Money

Author: Christine Desan
Publisher: OUP Oxford
ISBN: 0191025399
Size: 47.71 MB
Format: PDF
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The second half of the book considers the monetary revolution that brought unprecedented possibilities and problems.

Making Money

Author: Christine Desan
Publisher: Oxford University Press, USA
ISBN: 0198709579
Size: 68.37 MB
Format: PDF, ePub, Mobi
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In this revisionist history of the development of the modern monetary system, Christine Desan argues that money effectively creates economic activity rather than emerging from it.

Making Money

Author: Christine Desan
Publisher: OUP Oxford
ISBN: 0191025380
Size: 76.40 MB
Format: PDF, Docs
View: 2219
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The second half of the book considers the monetary revolution that brought unprecedented possibilities and problems.

The Nobel Factor

Author: Avner Offer
Publisher: Princeton University Press
ISBN: 1400883415
Size: 36.71 MB
Format: PDF, ePub
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" This is what Avner Offer and Gabriel Söderberg call the rise of market liberalism, a movement that, seeking to replace social democracy, holds up buying and selling as the norm for human relations and society.

Private Power And Global Authority

Author: A. Claire Cutler
Publisher: Cambridge University Press
ISBN: 9780521533973
Size: 26.22 MB
Format: PDF, ePub, Docs
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By engaging with literature in international law, international relations and international political economy, this book develops the conceptual and theoretical foundations for analyzing the political significance of international economic ...

The Heart Of The Declaration

Author: Steve Pincus
Publisher: Yale University Press
ISBN: 0300216181
Size: 39.53 MB
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Looking beyond the Declaration's frequently cited opening paragraphs, Steve Pincus reveals how the document is actually a blueprint for a government with extensive powers to promote and protect the people's welfare.

Other People S Houses

Author: Jennifer S. Taub
Publisher: Yale University Press
ISBN: 0300168985
Size: 57.87 MB
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The author offers his view as to how the financial crisis of 2008 developed and why it could happen again.

Clipped Coins Abused Words And Civil Government

Author: Constantine George Caffentzis
Publisher:
ISBN:
Size: 57.71 MB
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"Caffentzis grounds this ampliative examination of Locke's philosophy of economics, language, and history in the political crisis that resulted when monetary pirates "clipped" the silver currency of 17th-century England.

Casualties Of Credit

Author: Carl Wennerlind
Publisher: Harvard University Press
ISBN: 0674062663
Size: 29.72 MB
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With a circulating credit currency, a modern national debt, and sophisticated financial markets, England developed a fiscal-military state that instilled fear and facilitated the first industrial revolution.

How The Other Half Banks

Author: Mehrsa Baradaran
Publisher: Harvard University Press
ISBN: 0674286065
Size: 33.81 MB
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Deserted by banks and lacking credit, many people are forced to wander through a Wild West of payday lenders and check-cashing services thanks to the effects of deregulation in the 1970s that continue today, Mehrsa Baradaran shows.