History Commons^™

Religion, Longevity, And Cooperation: The Case Of The Craft Guild, Gary Richardson

Gary Richardson

Whenthe mortality rate is high, repeated interaction alonemaynot sustain cooperation, and religion may play an important role in shaping economic institutions. This insight explains why during the fourteenth century, when plagues decimated populations and the church promoted the doctrine of purgatory, guilds that bundled together religious and occupational activities dominated manufacturing and commerce. During the sixteenth century, the disease environment eased, and the Reformation dispelled the doctrine of purgatory, necessitating the development of new methods of organizing industry. The logic underlying this conclusion has implications for the study of institutions, economics, and religion throughout history and in the developing world …

El Modelo De Desarrollo Guayaquileño, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Honduras Rompe Paradigma En América Latina, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Los Paraísos Fiscales, ¿Malos Para Quién?, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

La Banca Ecuatoriana, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Ocaso De Un Gigante, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Intensified Regulatory Scrutiny And Bank Distress In New York City During The Great Depression,” With Patrick Van Horn, Gary Richardson

Gary Richardson

Bank distress peaked in New York City, at the center of the United States money market, in July and August 1931, when the banking crisis peaked in Germany and before Britain abandoned the gold standard. This article tests competing theories about the causes of New York’s banking crisis. The cause appears to have been intensified regulatory scrutiny, which was a delayed reaction to the failure of the Bank of United States, rather than the exposure of money center banks to events overseas.

La Controversia Histórica Del Libre Comercio, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

From Nyet To Da: Understanding The New Russia, Maxim Matusevich

Maxim Matusevich

No abstract provided.

Making Property Productive: Reorganizing Rights To Real And Equitable Estates In Britain, 1660 To 1830, Gary Richardson

Gary Richardson

Between 1660 and 1830, Parliament passed thousands of Acts restructuring rights to real and equitable estates. These estate Acts enabled individuals and families to sell, mortgage, lease, exchange and improve land previously bound by inheritance rules and other legal legacies. The loosening of these legal constraints facilitated the reallocation of land and resources towards higher-value uses. Data reveal correlations between estate Acts, urbanization and economic development during the decades surrounding the Industrial Revolution.

En La India El Empresario Sustituyó Al Funcionario, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Buffalo Hunt International Trade And The Virtual Extinction Of The North American Bison, M. Scott Taylor

M. Scott Taylor

In the 16th century, North America contained 25-30 million buffalo; by the late 19th century less than 100 remained. While removing the buffalo east of the Mississippi took settlers two centuries, the remaining 10 to 15 million buffalo on the Great Plains were killed in a punctuated slaughter in a little over 10 years. I employ theory, data from international trade statistics, and first person accounts to argue that the slaughter on the plains was initiated by a foreign-made innovation and fueled by a foreign demand for industrial leather. Ironically, the ultimate cause of this sad chapter in American environmental …

When Beef Was King. Or Why Do Colombians Eat So Little Pork?, Shawn Van Ausdal

Shawn Van Ausdal

This article seeks to understand why Colombians, compared to many other Latin Americans, have traditionally eaten so much more beef than pork. The article first points to the development of a culinary tradition that favored beef. The bulk of the argument, though, centers on the fact that, historically, beef has been substantially cheaper than pork. This price difference, in turn, is rooted in the low productivity of Colombian agriculture, which made corn, often used to fatten hogs, expensive. Additional factors that favored beef include a receding agrarian frontier, a small hog population, the various advantages of cattle, a conflict–ridden history …

Quarterly Data On The Categories And Causes Of Bank Distress During The Great Depression, Gary Richardson

Gary Richardson

No abstract provided.

Major League Baseball As Enron: The True Meaning Of The Mitchell Report, Mitchell J. Nathanson

Mitchell J Nathanson

Although the December 13, 2007 release of the Mitchell Report received attention for the names of the players included within, what was overlooked by many was the true import of the report: namely, the indictment of Major League Baseball itself as a corrupt entity. As such, the players identified as steroid abusers within the report were merely reflections of the larger, systemic problem that existed for decades within MLB rather than the problem in and of themselves. This article examines this revelation in detail.

Distress During The Great Depression: The Illiquidity-Insolvency Debate Revisited, Gary Richardson

Gary Richardson

During the contraction from 1929 to 1933, the Federal Reserve System tracked changes in the status of all banks operating in the United States and determined the cause of each bank suspension. This essay analyzes chronological patterns in aggregate series constructed from that data. The analysis demonstrates both illiquidity and insolvency were substantial sources of bank distress. Periods of heightened distress were correlated with periods of increased illiquidity. Contagion via correspondent networks and bank runs propagated the initial banking panics. As the depression deepened and asset values declined, insolvency loomed as the principal threat to depository institutions.

Deposit Insurance And Moral Hazard: Capital, Risk, Malfeasance, And Mismanagement. A Comment On ‘Deposit Insurance And Moral Hazard: Evidence From Texas Banking During The 1920s, Gary Richardson

Gary Richardson

A Journal of Economic History article by Linda Hooks and Kenneth Robinson, “Deposit Insurance and Moral Hazard: Evidence from Texas Banking During the 1920s,” contains a contradiction (Hooks and Robinson 2002). Pondering the contradiction in the paper reveals insights that the authors may have overlooked. Hooks and Robinson’s article examines the experience of the banking industry in Texas during the 1920s. Texas operated a deposit-insurance system from January 1, 1910 until February 11, 1927. Deposit insurance was mandatory for all state banks, which were given the choice of two plans in which to participate. The preponderance participated in the depositors …

Check Is In The Mail: Correspondent Clearing And The Banking Panics Of The Great Depression, Gary Richardson

Gary Richardson

Weaknesses within the check-clearing system played a hitherto unrecognized role in the banking crises of the Great Depression. Correspondent check-clearing networks were vulnerable to counter-party cascades. Accounting conventions that overstated reserves available to corresponding institutions may have exacerbated the situation. The initial banking panic began when a correspondent network centered in Nashville collapsed, forcing over 100 institutions to suspend operations. As the contraction continued, additional correspondent systems imploded. The vulnerability of correspondent networks is one reason that banks that cleared via correspondents failed at higher rates than other institutions during the Great Depression.

The Records Of The Federal Reserve Board Of Governors In The National Archives Of The United States, Gary Richardson

Gary Richardson

The archives of the Federal Reserve System are found in Record Group 82 at the National Archives of the United States. This article describes the materials available in that record group and ways to locate useful documents. Section i provides a brief history of the Federal Reserve; it describes the organization of the institution and how it changed over time. The focus is on issues important for understanding the types of documents that may or will not be found in the archives. Section ii describes the process by which the documents were generated and preserved. Section iii provides a broad …

The Prudent Village: Risk Pooling Institutions In Medieval English Agriculture, Gary Richardson

Gary Richardson

The prudent peasant mitigated the risk of crop failures by scattering his arable land throughout his village, Deirdre McCloskey argued, because alternative risksharing institutions did not exist. But, alternatives did exist, this essay concludes. Medieval English peasants formed two types of farmers’ cooperatives. Fraternities protected members from the perils of everyday life. Customary poor laws redistributed resources towards villagers beset by bad luck. In both institutions, the expectation of reciprocation motivated farmers with surpluses to aid neighbors with shortages.

Christianity And Craft Guilds In Late Medieval England: A Rational Choice Analysis, Gary Richardson

Gary Richardson

In late-medieval England, craft guilds simultaneously pursued piety and profit. Why did guilds pursue those seemingly unrelated goals? What were the consequences of that combination? Theories of organizational behavior answer those questions. Craft guilds combined spiritual and occupational endeavors because the former facilitated the success of the latter and vice versa. The reciprocal nature of this relationship linked the ability of guilds to attain spiritual and occupational goals. This link between religion and economics at the local level connected religious and economic trends in the wider world.

South Korea, Michele Gibney

Michele Gibney

An brief introduction and overview to South Korea's economic history touching on reunification attempts with North Korea, chaebols, and product wars with Japan, America, and China.

Guilds, Laws, And Markets For Manufactured Merchandise In Late-Medieval England, Gary Richardson

Gary Richardson

The prevailing paradigm of medieval manufacturing presumes guilds monopolized markets for durable goods in late-medieval England. The sources of the monopolies are said to have been the charters of towns, charters of guilds, parliamentary statutes, and judicial precedents. This essay examines those sources, demonstrates they did not give guilds legal monopolies in the modern sense of the word, and replaces that erroneous assumption with an accurate description of the legal institutions underlying markets for manufactures in medieval England.

A Tale Of Two Theories: Monopolies And Craft Guilds In Medieval England And Modern Imagination, Gary Richardson

Gary Richardson

No abstract provided.

Exploring Gender And Economic Development In Appalachia, Melissa Latimer, Ann M. Oberhauser

Ann Oberhauser

Industrial Restructuring And Women's Homework In Appalachia: Lessons From West Virginia, Ann M. Oberhauser

Ann Oberhauser

Evidence, 1985-1986 Illinois Law Survey, Leonard Cavise, Scott C. Tomassi

Leonard Cavise

No abstract provided.