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Merchants and Mechanics

Exploring the History of Economic Growth

Category: history of trade and commerce

Feudalism

Feudalism

March 19, 2018December 28, 2022 Posted in economic institutions, history of economic growth, history of trade and commerce, political institutions, property rights

In the Middle Ages, much of Europe was sparsely populated. People lived in small settlements separated by lawless wilderness, so they had to be self-reliant.

The End of Feudalism

The End of Feudalism

March 12, 2018December 28, 2022 Posted in economic institutions, history of economic growth, history of technology, history of trade and commerce, property rights

Feudalism ended when the factors that had supported it disappeared: small and isolated populations, limited markets, the dominance of the knight in warfare.

The Discovery of the Sea I

The Discovery of the Sea I

February 23, 2018May 28, 2023 Posted in history of technology, history of trade and commerce

The discovery of the world’s sea routes was ultimately driven by the desire of Europeans to directly access Asia’s trade network.

Economic Ideology and the Glorious Revolution

Economic Ideology and the Glorious Revolution

January 29, 2018May 12, 2023 Posted in economic institutions, history of economic growth, history of trade and commerce, political institutions, property rights, social institutions

At the time of the Glorious Revolution, an ideology that emphasized the value of labour pushed aside an ideology that justified the power of the landowners.

The Industrial Revolution

The Industrial Revolution

January 8, 2018December 28, 2022 Posted in history of economic growth, history of trade and commerce, Industrial Revolution, technological progress

Britain experienced a period of rapid technological progress that forever changed the nature of work, and that allowed it to dominate markets around the world.

Why Did the Industrial Revolution Happen in Britain in the Eighteenth Century?

Why Did the Industrial Revolution Happen in Britain in the Eighteenth Century?

December 18, 2017February 16, 2023 Posted in history of economic growth, history of technology, history of trade and commerce, Industrial Revolution, technological progress

The Industrial Revolution occurred because labour was expensive relative to capital and coal, making technologies that replaced labour with machines profitable.

The Nineteenth-Century Rules for Growth

The Nineteenth-Century Rules for Growth

December 15, 2017May 26, 2023 Posted in history of economic growth, history of trade and commerce, political institutions, social institutions

Britain’s first-mover advantage meant that other countries could not compete with it under free markets. They responded with a variety of protective policies.

The Division of the World

The Division of the World

December 9, 2017May 13, 2023 Posted in history of economic growth, history of trade and commerce, Industrial Revolution, technological progress

W. Arthur Lewis explained why the world divided into manufacturers and primary producers, and into prosperous temperate countries and poor tropical countries.

More on the Division of the World

More on the Division of the World

December 9, 2017March 4, 2023 Posted in history of economic growth, history of trade and commerce

Long-distance trade grew rapidly during the 19th century, widening the gap between the per capita incomes of the West and the Third World.

The Transformation of Japan after the Meiji Restoration

The Transformation of Japan after the Meiji Restoration

December 5, 2017March 27, 2023 Posted in history of economic growth, history of science, history of technology, history of trade and commerce, social institutions

Japan was a feudal economy in 1868. Over the next few decades it completely transformed itself to become one of the leading nations of the world.

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