Charles P. Kindleberger's writing has ranged widely in the past, from international economics to such specialized topics as the Marshall Plan. In recent years, however, his perspective has shifted to one that tempers the rigidity of technical economics with the flexibility of the liberal arts. Historical economics, drawing on history, politics, cultural anthropology, sociology, and geography, bridges the gap between abstraction and fact engendered by traditional conceptions of economic science. Inherently interdisciplinary, historical economics ultimately leads to a more meaningful understanding of contemporary economic phenomena. This selection of Kindleberger's work has been carefully culled to illustrate his approach to the subject. The essays cover a range of historical periods and in addition to his well known writing on financial issues also include European history and explorations of long-run changes in the American economy. Economists and historians, both the converted and the unconvinced, will want to consult this powerful argument for the importance of historical economics.
The author discusses the economic forces that determined the amounts of silver that stayed in various countries or passed through. The central issue is whether there is one balancing model of the balance of payments - the price-specific-flow model in the period concerned - or three, with persistent surpluses and persistent deficits along with balance.
The World in Depression is the best book on the subject, and the subject, in turn, is the economically decisive decade of the century so far."--John Kenneth Galbraith
This paper describes how financial crises come about, and analyses in particular the circumstances that led to the crises of the 1930s and 1980s. It concludes with suggestions on how to enhance world economic stability.
In this volume, Charles Kindleberger makes a powerful case against the idea that any one model could be used to unlock the basic secret of economic history. It is essentially an exercise in methodology, addressed to economists and economic historians alike. He argues that too many economists discover a relationship or a uniformity in economic behaviour, develop a model, and use it to explain more than it is capable of, including, on occasion, all economic behaviour. These lectures discuss four 'laws' in economics to show how uniformities can illuminate economic history in particular aspects. They illustrate the view that the economist or economic historian seeking to test analysis against historical data should have a variety of different models, and not just one. The implication is that however scientific and technical the tools, choosing them carefully to fit particular circumstances is itself an art.
Charles P. Kindleberger's rich and distinguised career has spanned nearly six decades. The essays collected here reflect the author's shift in interests from foreign exchange to international trade, economic growth, and economic history, especially financial history. They also contain dollops of sociology and political science. Kindleberger views himself as a historical economist who tests economic propositions against the historical record in more than one setting. The collection contains many of the jewels of Kindleberger's work. Most of the papers are strong on comparison (within Western Europe and between Europe and the United States), on economic or financial history, and on social science beyond the confines of economics.
The World in Depression is the best book on the subject, and the subject, in turn, is the economically decisive decade of the century so far."--John Kenneth Galbraith
These essays, written between 1978 and 1988, expand, revise, and apply Charles Kindleberger's influential ideas on the nature of economic crises and the possible sources of economic order in an increasingly interdependent world. With sharp insight and a fluid style, Kindleberger looks at both present and past financial crises to determine what conditions have led to economic instability. The Great Depression is a starting point for his discussion; but he also looks at booms and busts as far back as 1720 and as recent as the October 1987 stock market crash. What lessons can we learn from this reexamination of past economic disruption? Kindleberger clearly sees a need to establish worldwide economic stability as a public good, and, in times of economic disruption, a need for leadership to set the global economy back on track. Kindleberger's essays tie together major topics in modem economics and economic history. They have profound implications for international relations and political science, as economic stability becomes increasingly important and increasingly elusive in the world today.
Revised and updated throughout, this brilliant survey of European financial history from the earliest times to the present by internationally renowned scholar and author Charles P. Kindleberger offers a comprehensive account of the evolution of money in Western Europe, bimetallism and theemergence of the gold standard, the banking systems of the Continent and the British Isles, and overviews of foreign investment, regional and global financial integration, and private and public finance in Western Europe. The new edition features expanded coverage of the sixteenth and seventeenthcenturies and important new material on recent developments in European monetary integration.
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