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Merchants and Mechanics

Exploring the History of Economic Growth

Category: property rights

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.

Why was Science So Successful in Europe?

Why was Science So Successful in Europe?

March 5, 2018December 28, 2022 Posted in history of science, political institutions, property rights, social institutions

The rapid progress of European science was not inevitable. It was facilitated by Europe’s legal institutions, in particular, by the concept of jurisdiction.

Economic Ideology and the Glorious Revolution

Economic Ideology and the Glorious Revolution

January 29, 2018December 28, 2022 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 Scientific Revolution, the Enlightenment, and the Industrial Revolution

The Scientific Revolution, the Enlightenment, and the Industrial Revolution

December 25, 2017December 28, 2022 Posted in economic institutions, history of economic growth, history of science, history of technology, Industrial Revolution, political institutions, property rights, Scientific Revolution

The Industrial Revolution was one aspect of a dramatic change in the way that people thought of themselves and the world in which they lived.

Why Nations Fail: 
Extractive and Inclusive Institutions

Why Nations Fail: 
Extractive and Inclusive Institutions

November 27, 2017December 28, 2022 Posted in economic institutions, facts of economic growth, political institutions, property rights, technological progress

Acemoglu and Robinson argue that a country’s prosperity is determined by its political and economic institutions. Casual empiricism supports their argument.

Why Nations Fail:
 Theory is Tidy, History is Messy

Why Nations Fail:
 Theory is Tidy, History is Messy

November 20, 2017December 28, 2022 Posted in economic institutions, history of economic growth, history of trade and commerce, Industrial Revolution, political institutions, property rights, technological progress

Evidence from the Industrial Revolution does not support Acemoglu and Robinson’s claim that the transition to sustained growth always follows the same pattern.

Property and Property Rights: A History

Property and Property Rights: A History

November 10, 2017December 28, 2022 Posted in economic institutions, political institutions, property rights, social institutions

The Western concept of property has been influenced by such thinkers as John Locke, James Madison, John Stuart Mill, and Friedrich Hayek.

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