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"[A] magnificent history of money and finance."—New York Times Book Review "Convincingly makes the case that finance is a change-maker of change-makers."—Financial Times In the aftermath of recent financial crises, it's easy to see finance as a wrecking ball: something that destroys fortunes and jobs, and undermines governments and banks. In Money Changes Everything, leading financial historian William Goetzmann argues the exact opposite—that the development of finance has made the growth of civilizations possible. Goetzmann explains that finance is a time machine, a technology that allows us to move value forward and backward through time; and that this innovation has changed the very...
Documents the rise and fall of a market economy in China from 10001500. Since the economic liberalization of the 1980s, the Chinese economy has boomed and is poised to become the worlds largest market economy, a position traditional China held a millennium ago. William Guanglin Lius bold and fascinating book is the first to rely on quantitative methods to investigate the early market economy that existed in China, making use of rare market and population data produced by the Song dynasty in the eleventh century. A counterexample comes from the century around 1400 when the early Ming court deliberately turned agrarian society into a command economy system. This radical change not only shrank markets, but also caused a sharp decline in the living standards of common people. Lius landmark study of the rise and fall of a market economy highlights important issues for contemporary China at both the empirical and theoretical levels.
This volume, by offering a score of new insights derived from a wide variety of recent archaeological and textual sources, bring to life an important overseas trading port in Southeast Asia: Quanzhou. During the Song and Yuan dynasties active official and unofficial engagement in trade had formative effects on the development of the maritime trade of Quanzhou and its social and economic position both regionally and supraregionally. In the first part subjects such as the impact of the Song imperial clan and the local élites on these developments, the economic importance of metals, coins, paper money, and changes in the political economy, are amply discussed. The second part concentrates on the quantitative and qualitative analysis of archaeological data and materials, the investigation of commodities from China, their origins, distribution and final destinations, the use of foreign labour, and the particular role of South Thailand in trade connections, thus supplying the hard data underlying the main argument of the book.
The analysis of original documents is a means for economists to focus on the primary text, to analyze and interpret the object and to move to interpretation and understanding of its relationship to modern financial instruments and markets. The result is a collection of interdisciplinary studies of the key innovations in finance from the Old Babylonian loan tablets, to the 1953 London Debt Agreement that span regions in Asia, Africa, North America and Europe.
In examining the key merchant group in late imperial China this book provides a framework for understanding China's path to modernity.
A comprehensive survey of Chinese economic history from the pre-imperial era to 1800 from an international team of leading experts.
In Marco Polo was in China Hans Ulrich Vogel offers an innovative look at the highly complex topics of currencies, salt production and taxes, commercial levies and other kinds of revenue as well as the administrative geography of the Mongol Yuan empire. The author’s rigorous analysis of Chinese sources and all the important Marco Polo manuscripts as well as his thorough scrutiny of Japanese, Chinese and Western scholarship show that the fascinating information contained in Le devisament dou monde agrees almost pefectly with that we find in Chinese sources, the latter only available long after Marco Polo’s stay in China. Hence, the author concludes that, despite the doubts that have been raised, the Venetian was indeed in Khubilai Khan’s realm.
In late imperial China, opera transmitted ideas across the social hierarchy about the self, family, society, and politics. Beijing attracted a diverse array of opera genres and audiences and, by extension, served as a hub for the diffusion of cultural values. It is in this context that historian Andrea S. Goldman harnesses opera as a lens through which to examine urban cultural history. Her meticulous yet playful account takes up the multiplicity of opera types that proliferated at the time, exploring them as contested sites through which the Qing court and commercial playhouses negotiated influence and control over the social and moral order. Opera performance blurred lines between public and private life, and offered a stage on which to act out gender and class transgressions. This work illuminates how the state and various urban constituencies manipulated opera to their own ends, and sheds light on empire-wide transformations underway at the time.
This book explores the material and cultural history of the Ming Dynasty based on the Chinese magnum opus Xingshi Yinyuan Zhuan (literally, The Story of a Marital Fate to Awaken the World), written under the pseudonym of the seventeenth-century writer Xizhou Sheng. The novel weaves into its narrative, through the characters' personalities and the events it illustrates, important details of Ming material life. Through the literary snapshot of the Ming material culture as reflected in Xingshi Yinyuan Zhuan, this work investigates the practices and customs of clothing, food, and travel, three of the "four major concerns of the people's livelihoods," known as yishizhuxing in Chinese. While frequ...
A monumental study of collective violence in the premodern world, this book analyzes all instances of rebellion and banditry recorded in 1,097 countries in China during the 277 years of the Ming dynasty (1368-1644). The assembled evidence constitutes the largest annual, county-level time-series on collective violence events in any part of the world, and the 630 recorded cases are used to test the major social science theories on the origins of collective violence. Using systematic data collected from local gazetteers on natural calamities, size of harvests, famine relief, physical terrain, local construction, and troop deployment, the author advances and validates a rational-choice argument ...