What Did Merchants Do? Reflections on British Overseas Trade, 1660–1790

Price, Jacob M.

doi:10.1017/s0022050700007920

Cited by 88 publications

(10 citation statements)

References 16 publications

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“…95 Export industries (such as cotton, woollens, iron, and shipbuilding) ranked among the more advanced sectors of manufacturing and demonstrated what might be accomplished by the rest of the economy. 96 Firms engaged in foreign trade could achieve internal economies of scale: and what was possibly more important, larger export industries, such as Lancashire cottons, Yorkshire woollens, and Birmingham metalwares, generated external economies connected with conglomeration and specialization within regions. 97 Finally, contemporary claims for 'benign' effects which flowed through changes in money supplies and lower interest rates emanating from a favourable balance of payments are now appreciated.…”

Section: British Industrialization and Its Diffusionmentioning

confidence: 99%

The Foundations of European Industrialization: From the Perspective of the World*

O’Brien¹

1991

J Historical Sociology

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This article explores and engages with debates concerning the relation between internal and external 'Development' amongst nations. Types, trajectories, and patterns of economic growth and social structuring are investigated. Centering modes of trading and fiscal linkage and flow, the author concludes that 'a perspective from Europe', rather than a narrower 'British view, has wider implications for the rest of the world.

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Section: British Industrialization and Its Diffusionmentioning

confidence: 99%

The Foundations of European Industrialization: From the Perspective of the World*

O’Brien¹

1991

J Historical Sociology

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“…These activities resulted in much more than specific markets for specific products. They helped to create commercial institutions and practices and raise the level of human capital, which proved to be of great utility to the entire economy in the ensuing era of rapid industrialization [Price 1989]. These repercussions or higher order effects result in immense social implication when viewed from a broader and longer term perspective [Bauer 2000].…”

Section: Societal Contextmentioning

confidence: 99%

Understanding Electronic Commerce from a Historical Perspective

Heng¹

2003

CAIS

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The aim of this paper is to use historical insights from modern commerce as entry points to examine the macro-level phenomena associated with electronic commerce (EC). Commerce in its modern form first appeared in early 13 th century Italy where conducive political conditions existed. Trade facilitated the exchange of goods, thereby enhancing the efficiency of processes between production and consumption. Even more important was its role in raising the level of human capital, promoting the spread of ideas and information, changing people's attitudes and behaviour. Some modern business practices and institutions which evolved with modern commerce are bookkeeping, modern banking, commodities market, putting out systems (or outsourcing as we know it now), insurance, stock exchange, and venture capital. The current historical context favorable to EC is globalization. The emergence of network organizations helped to establish some of the practices supporting business-to-business electronic commerce. EC holds the potential to reduce time and transaction costs. However, the historical perspective suggests that the most profound implications of EC are likely to be at the macro-level or socio-institutional level. Some implications can already be seen while others are still developing. We are witnessing the impacts of EC on older business practices, and business models while there are likely implications for business cycles Such a perspective can provide pointers for future research. Lessons from history suggest a need to pay due attention to intervention at the socio-institutional level to reap the benefits of this form of commerce.

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“…This financial innovation permitted the enormous expansion of European foreign tradeboth within Europe and with Asia, Africa, and the Americasthat constituted the Commercial Revolution (Price, 1989). It was also used by European states, particularly Great Britain, for noncommercial purposes.…”

Section: London Amsterdammentioning

confidence: 99%

A Tale of Two Revolutions: International Capital Flows 1789–1819 *

Neal

1991

Bulletin of Econ Res

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One of the phenomena that accompanied the advance of the French Revolution and its armies throughout the European Continent in the 1790s was the flight of capital. Merchants and guild artisans, as well as aristocrats, had to turn to merchant bankers and use the existing international capital markets to remove the liquid part of their property beyond the reach of Revolutionary arms. There is good reason to believe that they were successful to a much greater degree than previously suspected, largely because the international capital markets of the time were larger and better organized than previously thought. Moreover, these capital movements from the Continent to Britain explain succinctly why the British Industrial Revolution took place during this period despite the large pressures of war expenditures and British government subsidies to Continental allies taking place at the same time. The repatriation of capital to the Continent from England after peace also helps explain the depression of British industry and incomes from 18 15 through the financial crisis of 1825, although the role of British speculators was important too.One of the phenomena that accompanied the advance of the French Revolution and its armies throughout the European Continent in the 1790s was the flight of capital. The revolutionaries abolished traditional property rights including feudal obligations and seigneurial dues and they *Many versions of this paper have been given, including seminars at Colby College,

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What Did Merchants Do? Reflections on British Overseas Trade, 1660–1790

Cited by 88 publications

References 16 publications

The Foundations of European Industrialization: From the Perspective of the World*

The Foundations of European Industrialization: From the Perspective of the World*

Understanding Electronic Commerce from a Historical Perspective

A Tale of Two Revolutions: International Capital Flows 1789–1819 *

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