By Ivan Berend

Why did a few international locations and areas of Europe succeed in excessive degrees of monetary development within the 19th century, whereas others have been left at the back of? This new transnational survey of the continent's financial improvement highlights the function of neighborhood modifications in shaping each one country's monetary direction and final result. providing a transparent and cogent rationalization of the old factors of development and backwardness, Ivan Berend integrates social, political, institutional and cultural components in addition to undertaking debates concerning the relative roles of information, the country and associations. that includes boxed essays on key personalities together with Adam Smith, Friedrich record, Gustave Eiffel and the Krupp relatives, in addition to short histories of strategies corresponding to the steam engine, vaccinations and the co-operative method, the ebook is helping to give an explanation for the theories and macro-economic developments that ruled the century and their influence at the next improvement of the ecu financial system correct as much as the current day.

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Extra info for An Economic History of Nineteenth-Century Europe: Diversity and Industrialization

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Sometimes the representatives of this school go so far as to declare the “end of economic history,” as it has supposedly become an “integral part” of economics (Romer, 1994). Several economic historians share the view that economic history is “running the risk of losing its own identity” (Toniolo, 2004, 92). Economic history and historical economics gradually separated from each other. Representatives of the classical school point to the limitations of applied models of economics and the mathematization of history research.

Merchant capitalism emerged in Britain as well, but only in a partly parallel way. Britain was far behind the United Provinces during the Dutch Golden Age of the sixteenth and seventeenth centuries, and its socialproperty relations differed markedly. Although Britain pursued the Dutch path to development, it was in Britain that the world witnessed a real discontinuity between the past and the dawn of a new age. The British appropriated from the Dutch and the French exclusive rights in the slave trade to Spanish America during the first half of the eighteenth century, and by the 1780s they “were well on their way to controlling the lion’s share of non-European resources and markets” (Esteban, 2004, 47).

As part of an island located in the middle of the international trade routes, and with no part of the country located further than seventy miles from the ocean, England also had a huge navigable river and canal network. The pioneering Exeter canal (1564) was only the first of many, and by 1815 each kilometer of the nearly 7,000-kilometer canal and navigable river network served no more than thirty-three square kilometers of land (Mathias, 1969, 110–12). By the beginning of the nineteenth century, the cost of water transportation in the northwestern region of Europe dropped to one-quarter of the cost of ground transportation.

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