The Journal of Economic History is an academic journal of economic history which has been published since 1941. Many of its articles are quantitative, often following the formal approaches that have been called cliometrics or the new economic history to make statistical estimates.
The journal is published on behalf of the Economic History Association by Cambridge University Press. Its editors are Ann Carlos at the University of Colorado and William Collins at Vanderbilt University. Its 2016 impact factor is 1.101.
|The Journal of Economic History|
|Edited by||Ann Carlos, William Collins|
|J. Econ. Hist.|
Proto-capitalist economies and free markets were active during the Islamic Golden Age and Muslim Agricultural Revolution, where an early market economy and form of merchant capitalism took root between the 8th–12th centuries. A vigorous monetary economy was based on a widely-circulated currency (the dinar) and the integration of monetary areas that were previously independent. Business techniques and forms of business organisation employed during this time included contracts, bills of exchange, long-distance international trade, forms of partnership (mufawada) such as limited partnerships (mudaraba), and forms of credit, debt, profit, loss, capital (al-mal), capital accumulation (nama al-mal), circulating capital, capital expenditure, revenue, cheques, promissory notes, trusts (see Waqf), savings accounts, transactional accounts, pawning, loaning, exchange rates, bankers, money changers, ledgers, deposits, assignments, the double-entry bookkeeping system, and lawsuits. Organizational enterprises independent from the state also existed in the medieval Islamic world, while the agency institution was also introduced. Many of these early capitalist concepts were adopted and further advanced in medieval Europe from the 13th century onwards. Some have argued that these economic activities laid the foundations for the development of modern capitalism.Charles Knickerbocker Harley
Charles Knickerbocker Harley is an academic economic historian who has written on a wide range of topics including the British industrial revolution, the late nineteenth century international economy, and the impact of technological change. He is a practitioner of the New Economic History.At Harvard he studied under Alexander Gerschenkron. He completed his dissertation, Shipbuilding and Shipping in the Late Nineteenth Century, on the transition from wooden sailing ships to steel steamers, in 1972. He took a professorship at the University of British Columbia. In 1978 he moved to the University of Western Ontario. In 2005 he joined the faculty of St. Antony's College, Oxford, where he stayed until becoming an Emeritus Fellow in 2011.He has been a frequent collaborator with N.F.R. Crafts.He has been awarded The Cliometric Society's Clio Can in 1999 in recognition of his exceptional support of cliometrics and the Arthur H. Cole Prize by the Journal of Economic History, for his essay, "British Industrialization Before 1841: Evidence of Slower Growth During the Industrial Revolution".Economic History Association
The Economic History Association (EHA) was founded in 1940 to "encourage and promote teaching, research, and publication on every phase of economic history and to help preserve and administer materials for research in economic history". It publishes The Journal of Economic History with the Cambridge University Press, holds an annual meeting that usually takes place in September, and awards prizes and grants. It is also the home to the EH.Net Encyclopedia of Economic and Business History.Economy of Nazi Germany
The German economy, like those of many other western nations, suffered the effects of the Great Depression with unemployment soaring around the Wall Street Crash of 1929. When Adolf Hitler became Chancellor of the Reich in 1933, he introduced policies aimed at improving the economy. The changes included privatization of state industries, autarky, and tariffs on imports. Wages increased by 10.9% in real terms during this period. However, reduced foreign trade meant rationing in consumer goods like poultry, fruit, and clothing for many Germans.The Nazis believed in war as the primary engine of human progress, and argued that the purpose of a country’s economy should be to enable that country to fight and win wars of expansion. As such, almost immediately after coming to power, they embarked on a vast program of military rearmament, which quickly dwarfed civilian investment. During the 1930s, Nazi Germany increased its military spending faster than any other state in peacetime, and the military eventually came to represent the majority of the German economy in the 1940s. This was funded mainly through deficit financing before the war, and the Nazis expected to cover their debt by plundering the wealth of conquered nations during and after the war. Such plunder did occur, but its results fell far short of Nazi expectations.The Nazi government developed a partnership with leading German business interests, who supported the goals of the regime and its war effort in exchange for advantageous contracts, subsidies, and the suppression of the trade union movement. Cartels and monopolies were encouraged at the expense of small businesses, even though the Nazis had received considerable electoral support from small business owners.Nazi Germany maintained a supply of slave labour, composed of prisoners and concentration camp inmates, which was greatly expanded after the beginning of World War II. In Poland alone, some 5 million citizens (including Polish Jews) were used as slave labour throughout the war. Among the slave labourers in the occupied territories, hundreds of thousands were used by leading German corporations including Thyssen, Krupp, IG Farben, Bosch, Blaupunkt, Daimler-Benz, Demag, Henschel, Junkers, Messerschmitt, Siemens, and Volkswagen, as well as Dutch corporation Philips. By 1944, slave labour made up one quarter of Germany's entire work force, and the majority of German factories had a contingent of prisoners.Frederic C. Lane
Frederic C. Lane (born November 23, 1900, in Lansing, Michigan–died October 14, 1984) was a historian who specialized in Medieval history with a particular emphasis on region of Venice.General maximum
The General Maximum, or Law of the Maximum, was a law during the French Revolution, as an extension of the Law of Suspects on 29 September 1793. It succeeded the 4 May 1793 loi du maximum that also set price limits, deterred price gouging, and allowed for the continued flow of food supply to the French people.Georgios Sinas
Georgios Sinas (Greek: Γεώργιος Σίνας, German: Georg Sina, 20 November 1783 - 18 May 1856) was a Greek entrepreneur, banker, national benefactor of Greece and father of the Greek national benefactor of Austria, Simon Sinas. He was the founder of the Athens National Observatory.History of Islamic economics
This is a sub-article of Islamic economics and Muslim world.Between the 9th and 14th centuries, the Muslim world developed many advanced concepts, techniques and use in production, investment, finance, economic development, taxation, property use such as Hawala, an early informal value transfer system, Islamic trusts known as waqf, systems of contract relied upon by merchants, a widely circulated common currency, cheques, promissory notes, early contracts, bills of exchange, and mufawada.
Specific Islamic concepts involving money, property, taxation, charity and five pillars
zakat (the "taxing of certain goods, such as harvest, with an eye to allocating these taxes to expand that are also explicitly defined, such as aid to the needy");
Gharar ("the interdiction of chance ... that is, of the presence of any element of uncertainty, in a contract (which excludes not only insurance but also the lending of money without participation in the risks); and
riba (charging interest or at least high interest on money lent).These concepts, like others in Islamic law and jurisprudence, came from the "prescriptions, anecdotes, examples, and words of the Prophet, all gathered together and systematized by commentators according to an inductive, casuistic method." Sometimes other sources such as al-urf, (the custom), al-'aql (reason) or al-ijma (consensus of the jurists) were employed. In addition, Islamic law has developed areas of law that correspond to secular laws of contracts and torts.
Self-described "Islamic economics" emerged in the 1945s, and as of 2004 "Islamic Banks" have been established in over 8p countries, and interest has been banned in three: Pakistan, Iran and the Sudan.Indentured servitude
An indentured servant or indentured laborer is an employee (indenturee) within a system of unfree labor who is bound by a signed or forced contract (indenture) to work for a particular employer for a fixed time. The contract often lets the employer sell the labor of an indenturee to a third party. Indenturees usually enter into an indenture for a specific payment or other benefit, or to meet a legal obligation, such as debt bondage. On completion of the contract, indentured servants were given their freedom, and occasionally plots of land. In many countries, systems of indentured labor have now been outlawed, and are banned by the Universal Declaration of Human Rights as a form of slavery.Institutional investor
An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include banks, insurance companies, pensions, hedge funds, REITs, investment advisors, endowments, and mutual funds. Operating companies which invest excess capital in these types of assets may also be included in the term. Activist institutional investors may also influence corporate governance by exercising voting rights in their investments.
Although institutional investors appear to be more sophisticated than retail investors, it remains unclear if professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management. Lending credence to doubts about active investors' ability to 'beat the market', passive index funds have gained traction with the rise of passive investors: the three biggest US asset managers together owned an average of 18% in the S&P 500 Index and together constituted the largest shareholder in 88% of the S&P 500 by 2015. The potential of institutional investors in infrastructure markets is increasingly noted after financial crises in the early twenty-first century.James Hargreaves
James Hargreaves (c. 1720 – 22 April 1778) was a weaver, carpenter and inventor who lived and worked in Lancashire, England. He was one of three men responsible for the mechanisation of spinning: Hargreaves is credited with inventing the spinning jenny in 1764; Richard Arkwright patented the water frame in 1769; andSamuel Crompton combined the two, creating the spinning mule in 1779.Jeh (disambiguation)
Jeh, a.k.a. Jahi is the Zoroastrian demoness of lust.
Jeh or JEH may also refer to:
Jeh Airport, in South Pacific
Jeh language, spoken in Laos and Vietnam
Tata Jeh automobile, a.k.a. Tata Nano
The Journal of Economic History, an academic journalJoel Mokyr
Joel Mokyr (born 26 July 1946) is a Netherlands-born American-Israeli economic historian. He is a professor of economics and history at Northwestern University, where he has taught since 1974; in 1994 he was named the Robert H. Strotz Professor of Arts and Sciences. He is also a Sackler Professorial Fellow at the University of Tel Aviv's Eitan Berglas School of Economics.Manorialism
Manorialism was an essential element of feudal society. It was the organizing principle of rural economy that originated in the Roman villa system of the Late Roman Empire, and was widely practiced in medieval western and parts of central Europe as well as China. It was slowly replaced by the advent of a money-based market economy and new forms of agrarian contract.
Manorialism was characterised by the vesting of legal and economic power in a Lord of the Manor, supported economically from his own direct landholding in a manor (sometimes called a fief), and from the obligatory contributions of a legally subject part of the peasant population under the jurisdiction of himself and his manorial court. These obligations could be payable in several ways, in labor (the French term corvée is conventionally applied), in kind, or, on rare occasions, in coin.
In examining the origins of the monastic cloister, Walter Horn found that "as a manorial entity the Carolingian monastery ... differed little from the fabric of a feudal estate, save that the corporate community of men for whose sustenance this organization was maintained consisted of monks who served God in chant and spent much of their time in reading and writing."Manorialism died slowly and piecemeal, along with its most vivid feature in the landscape, the open field system. It outlasted serfdom as it outlasted feudalism: "primarily an economic organization, it could maintain a warrior, but it could equally well maintain a capitalist landlord. It could be self-sufficient, yield produce for the market, or it could yield a money rent." The last feudal dues in France were abolished at the French Revolution. In parts of eastern Germany, the Rittergut manors of Junkers remained until World War II. In Quebec, the last feudal rents were paid in 1970 under the modified provisions of the Seigniorial Dues Abolition Act of 1935.Norton Garfinkle
Norton Garfinkle (born February 26, 1931) is an economist, businessman and public servant.
He is a Phi Beta Kappa graduate with honors from Columbia University and did his graduate work at Columbia University and Princeton University. He taught economics and economic history at Amherst College, where he was an editor the Journal of Economic History.Panic of 1857
The Panic of 1857 was a financial panic in the United States caused by the declining international economy and over-expansion of the domestic economy. Because of the interconnectedness of the world economy by the 1850s, the financial crisis that began in late 1857 was the first worldwide economic crisis. In Britain, the Palmerston government circumvented the requirements of the Bank Charter Act 1844, which required gold and silver reserves to back up the amount of money in circulation. Surfacing news of this circumvention set off the Panic in Britain.Beginning in September 1857, the financial downturn did not last long; however, a proper recovery was not seen until the American Civil War, in 1861. The sinking of SS Central America contributed to the panic of 1857, as New York banks were awaiting a much-needed shipment of gold. American banks did not recover until after the civil war. After the failure of Ohio Life Insurance and Trust Company, the financial panic quickly spread as businesses began to fail, the railroad industry experienced financial declines, and hundreds of workers were laid off.Since the years immediately preceding the Panic of 1857 were prosperous, many banks, merchants, and farmers had seized the opportunity to take risks with their investments and as soon as market prices began to fall, they quickly began to experience the effects of financial panic.Panic of 1907
The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a United States financial crisis that took place over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year. Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and businesses entered bankruptcy. Primary causes of the run included a retraction of market liquidity by a number of New York City banks and a loss of confidence among depositors, exacerbated by unregulated side bets at bucket shops.
The panic was triggered by the failed attempt in October 1907 to corner the market on stock of the United Copper Company. When this bid failed, banks that had lent money to the cornering scheme suffered runs that later spread to affiliated banks and trusts, leading a week later to the downfall of the Knickerbocker Trust Company—New York City's third-largest trust. The collapse of the Knickerbocker spread fear throughout the city's trusts as regional banks withdrew reserves from New York City banks. Panic extended across the nation as vast numbers of people withdrew deposits from their regional banks.
The panic might have deepened if not for the intervention of financier J. P. Morgan, who pledged large sums of his own money, and convinced other New York bankers to do the same, to shore up the banking system. This highlighted the impotence of the nation's Independent Treasury system, which managed the nation's money supply, yet was unable to inject liquidity back into the market. By November, the financial contagion had largely ended, only to be replaced by a further crisis. This was due to the heavy borrowing of a large brokerage firm that used the stock of Tennessee Coal, Iron and Railroad Company (TC&I) as collateral. Collapse of TC&I's stock price was averted by an emergency takeover by Morgan's U.S. Steel Corporation—a move approved by anti-monopolist president Theodore Roosevelt. The following year, Senator Nelson W. Aldrich, father-in-law of John D. Rockefeller Jr., established and chaired a commission to investigate the crisis and propose future solutions, leading to the creation of the Federal Reserve System.Property rights (economics)
Property rights are theoretical socially-enforced constructs in economics for determining how a resource or economic good is used and owned. Resources can be owned by (and hence be the property of) individuals, associations or governments. Property rights can be viewed as an attribute of an economic good. This attribute has four broad components and is often referred to as a bundle of rights:
the right to use the good
the right to earn income from the good
the right to transfer the good to others
the right to enforce property rightsIn economics, property is usually considered to be ownership (rights to the proceeds generated by the property) and control over a resource or good. Many economists effectively argue that property rights need to be fixed and need to portray the relationships among other parties in order to be more effective.Thomas J. Weiss
Thomas J. Weiss (born July 21, 1942) is an emeritus professor of Economics at the University of Kansas and a research associate at the National Bureau of Economic Research. His research has investigated colonial economic growth and development and the growth of service sector. His work has been recognised by The Cliometric Society via their awarding him a Clio Can in recognition his of exceptional support of cliometrics. Between 1988 and 1992 he served as one of the two co-editors of the Journal of Economic History.