Why are some countries rich and others poor? In 1500, the income differences were small, but they have grown dramatically since Columbus reached America. Since then, the interplay between geography, globalization, technological change, and economic policy has determined the wealth and poverty of nations. The industrial revolution was Britain's path breaking response to the challenge of globalization. Western Europe and North America joined Britain to form a club of rich nations by pursuing four polices-creating a national market by abolishing internal tariffs and investing in transportation, erecting an external tariff to protect their fledgling industries from British competition, banks to stabilize the currency and mobilize domestic savings for investment, and mass education to prepare people for industrial work. Together these countries pioneered new technologies that have made them ever richer. Before the Industrial Revolution, most of the world's manufacturing was done in Asia, but industries from Casablanca to Canton were destroyed by western competition in the nineteenth century, and Asia was transformed into 'underdeveloped countries' specializing in agriculture. The spread of economic development has been slow since modern technology was invented to fit the needs of rich countries and is ill adapted to the economic and geographical conditions of poor countries. A few countries - Japan, Soviet Russia, South Korea, Taiwan, and perhaps China - have, nonetheless, caught up with the West through creative responses to the technological challenge and with Big Push industrialization that has achieved rapid growth through investment coordination. Whether other countries can emulate the success of East Asia is a challenge for the future. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

'Roderick Floud's ground-breaking study of the history, money, places and personalities involved in British gardens over the past 350 years gives fascinating insight into why gardening is part of this country's soul.' Michael Heseltine, Deputy Prime Minister (1996-1997) 'Thousands of books have been written about the history of British gardens but Roderick Floud, one of Britain's most distinguished economic historians, asks new and important questions: how much did gardens cost to build and maintain, and where did the money come from? Superbly researched, it is full of information which will surprise both economists and gardeners. The book is fun as well as edifying: Floud shows us gardens grand and humble, and introduces us gardeners, plantsmen and technologies in wonderful varieties.' Jane Humphries, Centennial Professor, London School of Economics At least since the seventeenth century, most of the English population have been unable to stop making, improving and dreaming of gardens. Yet in all the thousands of books about them, this is the first to address seriously the question of how much gardens and gardening have cost, and to work out the place of gardens in the economic, as well as the horticultural, life of the nation. It is a new kind of gardening history. Beginning with the Restoration of Charles II in 1660, Roderick Floud describes the role of the monarchy and central and local government in creating gardens, as well as that of the (generally aristocratic or plutocratic) builders of the great gardens of Stuart, Georgian and Victorian England. He considers the designers of these gardens as both artists and businessmen - often earning enormous sums by modern standards, matched by the nurserymen and plant collectors who supplied their plants. He uncovers the lives and rewards of working gardeners, the domestic gardens that came with the growth of suburbs and the impact of gardening on technical developments from man-made lakes to central heating. AN ECONOMIC HISTORY OF THE ENGLISH GARDEN shows the extraordinary commitment of money as well as time that the English have made to gardens and gardening over three and a half centuries. It reveals the connections of our gardens to the re-establishment of the English monarchy, the national debt, transport during the Industrial Revolution, the new industries of steam, glass and iron, and the built environment that is now all around us. It is a fresh perspective on the history of England and will open the eyes of gardeners - and garden visitors - to an unexpected dimension of what they do.

The aim of The Handbook of Modern Economic History will be to introduce readers to the key approaches and findings of economic historians who study the modern world. Modern economic history blends two approaches ' Cliometrics (which focuses on measuring economic variables and explicitly testing theories about the historical performance and development of the economy, as exemplified by the approach of Robert Fogel) and the New Institutional Economics (which focuses on how social, cultural, legal and organizational norms and rules shape ...

This book aims to introduce readers to the important macroeconomic events of the past two hundred years. It explains what went on and why during the most significant economic epochs of the nineteenth, twentieth and early twenty-first centuries and how where we are today fits in this historical timeline.

The Big Problem of Small Change offers the first credible and analytically sound explanation of how a problem that dogged monetary authorities for hundreds of years was finally solved. Two leading economists, Thomas Sargent and François Velde, examine the evolution of Western European economies through the lens of one of the classic problems of monetary history--the recurring scarcity and depreciation of small change. Through penetrating and clearly worded analysis, they tell the story of how monetary technologies, doctrines, and practices evolved from 1300 to 1850; of how the "standard formula" was devised to address an age-old dilemma without causing inflation. One big problem had long plagued commodity money (that is, money literally worth its weight in gold): governments were hard-pressed to provide a steady supply of small change because of its high costs of production. The ensuing shortages hampered trade and, paradoxically, resulted in inflation and depreciation of small change. After centuries of technological progress that limited counterfeiting, in the nineteenth century governments replaced the small change in use until then with fiat money (money not literally equal to the value claimed for it)--ensuring a secure flow of small change. But this was not all. By solving this problem, suggest Sargent and Velde, modern European states laid the intellectual and practical basis for the diverse forms of money that make the world go round today. This keenly argued, richly imaginative, and attractively illustrated study presents a comprehensive history and theory of small change. The authors skillfully convey the intuition that underlies their rigorous analysis. All those intrigued by monetary history will recognize this book for the standard that it is.

How is economic history different from a history of economics? What are the primary concerns of today's economic historians? What are some watershed economic moments of the last 500 years? Why does modern economic history "begin" around 1400? Find out in this introduction to the remarkable journey ahead.

Economics and U.S. History are intimately interconnected. On a fundamental level, understanding the past helps your students understand our economic system and the keys to economic growth.

Without economic history, economics runs the risk of being too abstract or parochial, of failing to notice precedents, trends and cycles, of overlooking the long-run and thus misunderstanding ‘how we got here’. Recent financial and economic crises illustrate spectacularly how the economics profession has not learnt from its past. This important and unique book addresses this problem by demonstrating the power of historical thinking in economic research. Concise chapters guide economics lecturers and their students through the field of economic history, demonstrating the use of historical thinking in economic research, and advising them on how they can actively engage with economic history in their teaching and learning. Blum and Colvin bring together important voices in the field to show readers how they can use their existing economics training to explore different facets of economic history. Each chapter introduces a question or topic, historical context or research method and explores how they can be used in economics scholarship and pedagogy. In a century characterised to date by economic uncertainty, bubbles and crashes, An Economist’s Guide to Economic History is essential reading. For further information visit http://www.blumandcolvin.org