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From Money to Capital, 1801–1851

Ranald C. Michie

in The London Stock Exchange: A History

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199242559
eISBN:
9780191596643
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199242550.003.0003
Subject:
Economics and Finance, Economic History, Financial Economics

The first section of this chapter traces the development of the organization of the London Stock Exchange from 1801 to 1851. The new ability to enforce the rules and regulations that increasingly ... More


The Economy: Perceptions and Contacts

Mushirul Hasan

in Exploring the West: Three Travel Narratives

Published in print:
2009
Published Online:
October 2012
ISBN:
9780198063117
eISBN:
9780199080199
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198063117.003.0036
Subject:
History, Indian History

The author comments on the economy of England, describing the country's finances, mode of assessing the taxes, government loans, national debt, and the effects of the heavy taxes on all classes of ... More


The Rise and Rise of the Mississippi Company, 1719

Antoin E. Murphy

in John Law: Economic Theorist and Policy-maker

Published in print:
1997
Published Online:
November 2003
ISBN:
9780198286493
eISBN:
9780191596674
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828649X.003.0014
Subject:
Economics and Finance, History of Economic Thought

In 1719, Law was successful in taking over all of the trading companies, the rights to the Mint, and the tax farms. He had created a giant holding company. In August 1719, he proposed taking over the ... More


The Treasury Under Labour, 1945–1951

G. C. Peden

in The Treasury and British Public Policy, 1906–1959

Published in print:
2000
Published Online:
October 2011
ISBN:
9780198207078
eISBN:
9780191677472
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198207078.003.0008
Subject:
History, British and Irish Modern History, Economic History

The period 1945–1951 saw the Treasury become the central department of government again, with enhanced responsibility for co-ordinating economic policy. However, the enlargement of the Treasury's ... More


John Law and Richard Cantillon: The First Mississippi Fortune — Phase One

Antoin E. Murphy

in Richard Cantillon: Entrepreneur and Economist

Published in print:
1989
Published Online:
November 2003
ISBN:
9780198286820
eISBN:
9780191596681
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198286821.003.0005
Subject:
Economics and Finance, History of Economic Thought

Cantillon's financial career was closely linked with that of John Law (1671–1729). Law wished to solve France's twin crises, the shortage of money and the high level of state indebtedness, through ... More


Pathways to Fiscal Reform in the United States

John W. Diamond and George R. Zodrow (eds)

Published in print:
2014
Published Online:
September 2015
ISBN:
9780262028301
eISBN:
9780262321914
Item type:
book
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028301.001.0001
Subject:
Economics and Finance, Financial Economics

The severe fiscal problems that the United States faces have been the focus of much attention in recent years, and several groups have proposed ambitious plans for fiscal reforms that would address ... More


Freedom as Accumulation

Aaron Carico

in Black Market: The Slave's Value in National Culture after 1865

Published in print:
2020
Published Online:
May 2021
ISBN:
9781469655581
eISBN:
9781469655604
Item type:
chapter
Publisher:
University of North Carolina Press
DOI:
10.5149/northcarolina/9781469655581.003.0002
Subject:
History, African-American History

This chapter reassembles the immediate and concrete history of abolition after 1865, from the counter of the Southern country store to the international trade in cotton, as it sorts out the ... More


Conclusion

David French

in The Strategy of the Lloyd George Coalition, 1916–1918

Published in print:
1995
Published Online:
October 2011
ISBN:
9780198205593
eISBN:
9780191676680
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198205593.003.0013
Subject:
History, British and Irish Modern History, Political History

From the beginning of the war British policy-makers had a clear appreciation that they were fighting to ensure a greater measure of security for Britain and its empire in the post-war world. They ... More


The Transfer Theory of Government Debt: What Keynes Learned from Kalecki

Jan Toporowski

in Interest and Capital: The Monetary Economics of Michał Kalecki

Published in print:
2022
Published Online:
January 2022
ISBN:
9780198816232
eISBN:
9780191853579
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198816232.003.0010
Subject:
Economics and Finance, History of Economic Thought, Macro- and Monetary Economics

Keynes was impressed by Kalecki’s proposal for financing full employment by means of long-term government debt serviced by a capital levy or taxes on profits. This transfer theory of debt presents ... More


Revenue or Reciprocity?: Founding Feuds over Early U.S. Trade Policy

Douglas A. Irwin

in Founding Choices: American Economic Policy in the 1790s

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226384740
eISBN:
9780226384764
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226384764.003.0004
Subject:
Economics and Finance, Economic History

This chapter studies import duties as the key method by which the new federal government raised revenue to fund its operations and pay the national debt. The national government had no authority over ... More


The Restructuring of Capitalism in Our Time

William Tabb

Published in print:
2012
Published Online:
November 2015
ISBN:
9780231158428
eISBN:
9780231528030
Item type:
book
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231158428.001.0001
Subject:
Political Science, Political Theory

Actions taken by the United States and other countries during the Great Recession focused on restoring the viability of major financial institutions while guaranteeing debt and stimulating growth. ... More


Preserving National Strength in a Period of Fiscal Restraint

Cindy Williams

in Sustainable Security: Rethinking American National Security Strategy

Published in print:
2016
Published Online:
December 2016
ISBN:
9780190611477
eISBN:
9780190611514
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190611477.003.0004
Subject:
Political Science, American Politics

Sequestration, economic crisis, and the ends of the wars in Iraq and Afghanistan have already significantly reduced the US defense budget from its peak in 2010, and in the face of the growing ... More


The Wartime Fragments II: Interest and Debt

Jan Toporowski

in Interest and Capital: The Monetary Economics of Michał Kalecki

Published in print:
2022
Published Online:
January 2022
ISBN:
9780198816232
eISBN:
9780191853579
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198816232.003.0004
Subject:
Economics and Finance, History of Economic Thought, Macro- and Monetary Economics

Working on government finance during the Second World War, Kalecki addressed the question of how the government can manage a rapidly growing debt. This should cause no problem because the money from ... More


Treasury Finance during the 1920s

Kenneth D. Garbade

in Birth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression

Published in print:
2012
Published Online:
August 2013
ISBN:
9780262016377
eISBN:
9780262298674
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262016377.003.0011
Subject:
Economics and Finance, Econometrics

This chapter provides an overview of federal tax policy during the 1920s and describes how Treasury officials funded the debt reduction program. By the end of World War I the national debt stood at ... More


Innovation and Evolution: Growth and Control

Martin Shubik and Eric Smith

in The Guidance of an Enterprise Economy

Published in print:
2016
Published Online:
May 2017
ISBN:
9780262034630
eISBN:
9780262337540
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262034630.003.0010
Subject:
Economics and Finance, Econometrics

In connecting Walras and modern General Equilibrium theory with Keynes and Schumpeter we have confined ourselves to 1-ply games with government and a central bank and initial and terminal conditions ... More


The Royal Navy and Economic Warfare against the United States during the War of 1812

John B. Hattendorf

in Economic Warfare and the Sea: Grand Strategies for Maritime Powers, c. 1600-1945

Published in print:
2020
Published Online:
May 2021
ISBN:
9781789621594
eISBN:
9781800341166
Item type:
chapter
Publisher:
Liverpool University Press
DOI:
10.3828/liverpool/9781789621594.003.0008
Subject:
History, Military History

This chapter provides an overview of recent scholarship on the Royal Navy’s economic blockade of the United States between 1812 and 1815. The article shows how the combination of British naval forces ... More


International Law, the Independence Debate, and Political Settlement in the UK

Christine Bell

in The Scottish Independence Referendum: Constitutional and Political Implications

Published in print:
2016
Published Online:
August 2016
ISBN:
9780198755517
eISBN:
9780191816697
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198755517.003.0009
Subject:
Law, Constitutional and Administrative Law

This chapter examines the role that international law played in the Scottish independence debates. It argues that international law surprisingly played a central role. International law was used by ... More


Crises and Crescendo, 1694–1825

Ranald C. Michie

in British Banking: Continuity and Change from 1694 to the Present

Published in print:
2016
Published Online:
December 2016
ISBN:
9780198727361
eISBN:
9780191793516
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198727361.003.0003
Subject:
Business and Management, Business History, Finance, Accounting, and Banking

The Bank of England was formed in 1694 and until 1825 possessed a monopoly of joint-stock banking in England and Wales though not in Scotland and Ireland. That influenced the pattern of banking ... More


J.M. Keynes as Sociologist: The Rentier in the Social System

Ross McKibbin

in Democracy and Political Culture: Studies in Modern British History

Published in print:
2019
Published Online:
April 2019
ISBN:
9780198834205
eISBN:
9780191872365
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198834205.003.0001
Subject:
History, British and Irish Modern History, Historiography

This chapter is concerned with J.M. Keynes’s analysis of the rentier, the ‘functionless investor’ in Britain (and Europe) in the interwar years. Even though Keynes had no coherent idea of who the ... More


‘Unfortunately We Are Bankrupt’: The Greek Bankruptcy Crisis of 1893 and Its Remembrance in the World Economic Crisis, 2010–2011

Korinna Schönhärl

in Remembering and Learning from Financial Crises

Published in print:
2021
Published Online:
November 2021
ISBN:
9780198870906
eISBN:
9780191913495
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198870906.003.0003
Subject:
Economics and Finance, Financial Economics

It is often noted that people remember the past to better manage the present. One major driving force of economic behaviour is expectations of the future or ‘imagined futures’, as the sociologist ... More


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