Economic History Commons^™

Antinomies Of Globalization, Yahya Mete Madra

Markets, Globalization & Development Review

The defining antinomy of the post-2008 crash phase is argued to be the one between neoliberalism and populism. This essay aims to complicate the terms of this antinomy and offers a reading that problematizes the association of neoliberalism with internationalism and globalization on the one hand and populism with nationalism and anti-imperialism on the other. Not only internationalism in its historical origins is an anti-imperialist concept but also today we can easily discern how reactionary forms of populist nationalisms are made possible by globalization of finance—a hallmark of neoliberalism. The essay concludes with a discussion of the possibility of …

The Geopolitics Of Rare Earth Elements: Emerging Challenge For U.S. National Security And Economics, Bert Chapman

Libraries Faculty and Staff Scholarship and Research

Rare earth elements (REE) contain unique chemical and physical properties such as lanthanum, are found in small concentrations, need extensive precise processes to separate, and are critical components of modern technologies such as laser guidance systems, personal electronics such as IPhones, satellites, and military weapons systems as varied as Virginia-class fast attack submarines, DDG- 51 Aegis destroyers, the F-35 Joint Strike Fighter, and precision guided munitions. The U.S. has some rare earth resources, but is heavily dependent on access to them from countries as varied as Afghanistan, Bolivia, and China. Losing access to these resources would have significant adverse economic, …

Market Encounters : Consumer Cultures In Twentieth-Century Ghana, Bianca Murillo

Ohio University Press Open Access Books

In Market Encounters, Bianca Murillo explores the shifting social terrains that made the buying and selling of goods in modern Ghana possible. Fusing economic and business history with social and cultural history, she traces the evolution of consumerism in the colonial Gold Coast and independent Ghana from the late nineteenth century through to the political turmoil of the 1970s.

Murillo brings sales clerks, market women, and everyday consumers in Ghana to the center of a story that is all too often told in sweeping metanarratives about what happens when African businesses are incorporated into global markets. By emphasizing the centrality …

Different Profiles, Different Choices: Mid-Nineteenth Century Hessians Who Emigrated To The Southern Hemisphere, Simone A. Wegge

Publications and Research

Before 1890, German emigrants were one of the largest European groups to emigrate overseas in the middle of the nineteenth century. Most of them settled in North America, but a handful of Germans landed in countries south of the equator. This paper examines those who chose uncommon paths and settled in the southern hemisphere, focusing on Hessians who went to either Australia or South America. Those who emigrated to the Southern Hemisphere were actually quite different from the Hessians who moved to the U.S. More striking, however, are the contrasting backgrounds of the Australian-bound versus the South American-bound groups: these …

Essays On Inequality And Macroeconomic Stability, Thomas Hauner

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters. . .

Chapter 1: Aggregate Wealth and Its Distribution as Determinants of Financial Crises: Panel Evidence This essay investigates the relationship between wealth inequality and financial crises across a panel of nine advanced economies over the past 100 years. While substantiation of a role for income inequality is ambiguous in the literature, evidence is presented suggesting a unique capacity for the accumulation of assets to increase the likelihood of a future financial crisis episode. Testing long-run panel data with a reduced form, two-way fixed effects model, estimates suggest that increasing wealth inequality, in an …

The New American Slavery: Capitalism And The Ghettoization Of American Prisons As A Profitable Corporate Business, David A. Liburd

Dissertations, Theses, and Capstone Projects

The labor of enslaved Africans and Black Americans played a large part in the history of colonial America, with the American plantation being the epicenter for all that was to be produced. While the two have never been completely tied together, capitalism and modern day slavery have been linked with one another. Some analysis sees slavery as a remote form of capitalism, a substitute, to an antiquated form of labor in the modern world.

Slave plantations adopted a new concentration in size and management, referred to by W.E. DuBois as a change "from a family institution to an industrial system."1 …

Robust Linear Static Panel Data Models Using Ε-Contamination, Badi H. Baltagi, Georges Bresson, Anoop Chaturvedi, Guy Lacroix

Center for Policy Research

The paper develops a general Bayesian framework for robust linear static panel data models using ε-contamination. A two-step approach is employed to derive the conditional type-II maximum likelihood (ML-II) posterior distribution of the coefficients and individual effects. The ML-II posterior means are weighted averages of the Bayes estimator under a base prior and the data-dependent empirical Bayes estimator. Two-stage and three stage hierarchy estimators are developed and their finite sample performance is investigated through a series of Monte Carlo experiments. These include standard random effects as well as Mundlak-type, Chamberlain-type and Hausman-Taylor-type models. The simulation results underscore the relatively good …

The Bracero Program In The Arkansas Delta: The Power Held By Planter Elite, William Chase Whittington

Graduate Theses and Dissertations

This paper examines the Bracero Program and its implementation from the start of World War II to the end of the program in 1964. Farmers and planters in America needed a sufficient labor supply once the war started, and Mexico became the main supplier. The Bracero Program was initiated as a war effort and meant to only last until the end of the war, but the planter elite had far different intentions once they realized how productive and inexpensive the program could be. This paper identifies the leading causes for how the Bracero Program was able to last over twenty …

Eartha M. M. White Collection Container List, Thomas G. Carpenter Library Special Collections And University Archives

Finding Aids and Container Lists

Personal correspondence, documents, notes, memorabilia, printed materials and photographs. Notable materials include numerous photographs chronicling twentieth century black history in Jacksonville and historical photographs of urban Jacksonville. Included in the collection are the photographs of R. Lee Thomas, a black photographer active in the early twentieth century in the southern United States. Thomas' work covers primarily southern black religious and labor groups, circa 1946-49.

The Price Revolution In The Ottoman Context: Economic Upheaval In The Sixteenth Century, Dylan Lawrence Russell

Middle Eastern Communities and Migrations Student Research Paper Series

The inflationary pressures of the Price Revolution had an impact on Ottoman agricultural organization, state finances, industry, and the growth of corruption. This analysis will examine the causes, effects, and scope of inflation in the sixteenth century. Inflation alone did not cause these drastic changes, as other very significant developments also contributed to the turbulent economic environment. However inflation did, in fact, influence many basic transformations, including shifts in wealth, power, and the enrichment of specific social classes at the expense of others.

Everybody Wants To Belong: Comparing The Relative Impact Of Social Capital On Happiness At An International Level, Elana Lambert

Lawrence University Honors Projects

Subjective well-being has become increasingly more important as a guide for policy and welfare. This paper uses data from the World Bank Indicators and the World Values Survey to look at the intricate relationship between subjective well-being data, social capital, and the relative nature of human happiness. Subjective well-being data has recently become widely accepted in economics research and analyzed using econometric methods. In this study, I look at specific aspects of social capital across countries to easily compare individuals within countries with a standardized scale. I look at economic determinants and social capital determinants and their impact on happiness. …

Feeding Globalization : Madagascar And The Provisioning Trade, 1600–1800, Jane Hooper

Ohio University Press Open Access Books

Between 1600 and 1800, the promise of fresh food attracted more than seven hundred English, French, and Dutch vessels to Madagascar. Throughout this period, European ships spent months at sea in the Atlantic and Indian Oceans, but until now scholars have not fully examined how crews were fed during these long voyages. Without sustenance from Madagascar, European traders would have struggled to transport silver to Asia and spices back to Europe. Colonies in Mozambique, Mauritius, and at the Cape relied upon frequent imports from Madagascar to feed settlers and slaves.
In Feeding Globalization, Jane Hooper draws on challenging and previously …

Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos

Business and Economics Faculty Publications

Illinois had a dismal free banking experience, with over 80% of its free banks failing by the start of the Civil War. Researchers agree that a dramatic change in bond prices was the catalyst, and some have shown that the riskiest banks, ex ante, were the most likely to fail. This study examines how Illinois free banks adjusted their portfolios in the face of increased political and financial risks prior to Abraham Lincoln’s election as president. Lincoln’s nomination in May 1860 and the Democratic Party schism in June 1860 raised the likelihood of secession and the potential for a significant …

Broken Glass: The Decline Of Corporate Paternalism And Welfare Capitalism, A Critical Analysis Of One Company’S Systematic Socio-Economic Metamorphosis, Doug Bruno

Conspectus Borealis

No abstract provided.

Blade Runner And The Divine Menace, Alexander W. Pickens

MAD-RUSH Undergraduate Research Conference

Following the decline of Christianity in mainstream Western culture, a void rose in the moral and societal code. Those writers that emerged presented alternate visions that worked their way into the literature of the 20th century. Karl Marx's interpretation of the structure of labor in capitalism presented a new societal hierarchy whose finer points have been worked out in the complex film Blade Runner. This dystopian nightmare, in which a Marxist interpretation of current society bogged down by the ennui of capitalist accumulation is confronted, describes a new religious order based upon this economic theory. Central to this reimagining …

Trends In U.S. Tea Imports: 1991-2015, Evan Kennedy

Honors Theses

Tea is the second most popular beverage in the world, and over the past two decades it has experienced a newfound popularity in the United States. Over this time period, ready-to-drink and loose-leaf tea has increased in popularity, whereas tea bags and instant tea declined in popularity. Since the United States produces almost no tea itself, an increase in consumption requires increased imports. Therefore, this paper examines U.S. import trends as a means to begin an examination of consumption. Ten countries (Argentina, Canada, China, Germany, India, Japan, Kenya, Sri Lanka, the United Kingdom, and Vietnam) provide approximately 80% of the …

The L. & H. Huning Mercantile Company: A Case Study Of Mercantile Conquest In The Rio Abajo Region Of New Mexico, 1848-1880, Ricardo S. Gonzales

History ETDs

This master’s thesis is a case study of the L. & H. Huning Mercantile Company, a mercantile partnership in New Mexico during the territorial period. Louis and Henry Huning, a pair of brothers who immigrated to New Mexico from Germany in 1859, established wholesale and retail enterprises in the Arizona and New Mexico territories. Their main storehouse was founded in Los Lunas, New Mexico, in 1871 following the departure of Erhardt Franz to St. Louis.

L. & H. Huning became a successful merchandising business in the Rio Abajo by establishing a mercantile monopoly in Los Lunas. The introduction of free-market …

Selecting An Alternative National Banking System Against Fractional Reserve Free Banking: The Greatest Modern Fraud?, Josiah J. Bardy

Senior Honors Theses

This paper serves as a compilation and analysis of different banking systems with an emphasis on fractional reserve free banking. Contemporary academic literature has debated fractional reserve banking with revisited scrutiny since the 2007–2009 financial crisis. The Austrian School, drawing conclusions from the Austrian business cycle theory, blames central banking for boom-bust economics. One proposed solution, fractional reserve free banking, eliminates the central bank’s control for a purer form of fractional reserve practice; however, this system may be inherently fraudulent and unethical. After completing an economic analysis of the western world’s banking system, this paper then explores an alternative solution.

Rulers, Religion, And Riches: Why The West Got Rich And The Middle East Did Not, Jared Rubin

Economics Faculty Books and Book Chapters

For centuries following the spread of Islam, the Middle East was far ahead of Europe. Yet, the modern economy was born in Europe. Why was it not born in the Middle East? In this book Jared Rubin examines the role that Islam played in this reversal of fortunes. It argues that the religion itself is not to blame; the importance of religious legitimacy in Middle Eastern politics was the primary culprit. Muslim religious authorities were given an important seat at the political bargaining table, which they used to block important advancements such as the printing press and lending at interest. …

Horses, Trains, And Cars: How Trends In The Broader Economy Affected The Physical Layout Of Our Campuses, Louis D. Johnston, Peggy L. Roske

Headwaters

No abstract provided.

Imagining Basic Income As An International And Domestic Remedy To Wealth Inequality, Christian A. Davis

Dissertations, Theses, and Capstone Projects

Has the success of corporate capitalism undermined the neoliberal ideas it presupposes, leading to the inevitable growth of socialism? While labor unions may lament the export of jobs, the real issue in today’s increasingly administered and mechanized economy is the global loss of jobs. James Ferguson has provided a strong argument that despite the triumphalist narratives of neoliberalism, capitalist development strategies particularly in South Africa have resulted in concentrated wealth, large unemployment, and the growth of transfer payments. More importantly, he shows how traditional critics of capitalism fall short in addressing the issues of a jobless future. For example, Marxists …

A Refuge For Refugees: The Historical Context And Socioeconomic Impact Of Palestinian Refugees In Jordan, Amelia Marie Dal Pra

Global Tides

Today more than 41 percent of the Jordanian population is comprised of Palestinian refugees. Some argue that Jordan has become the new Palestinian state in place of their former land pre-1948. This paper presents the complications of this claim by focusing on the Jordanian government’s constitutional provisions on refugee citizenship, Palestinian support programs and the role the Palestinian identity has played in the integration, or lack thereof, of Palestinian refugees into the social, political, and economic spheres of Jordanian society.

The Rise And Fall Of The Zaibatsu: Japan's Industrial And Economic Modernization, David A. C. Addicott

Global Tides

Throughout the past century, the rise and fall of the zaibatsu and the operations of their direct successors has not only shaped Japan’s economic and financial landscape but also has been instrumental in the modernization of the world economy. Many of these corporations traced their roots to Japan’s premodern era, and were directly responsible for the transformation of a nation of rice farmers into an industrial powerhouse in the years prior to World War II. Following Japan’s defeat, these monopolistic corporations were dismantled by the Keynesian economists of the Allied occupation and were reorganized into the keiretsu system, which exists …

The History And Development Of British Tramways And The Impacts That It Had, Noam Schuldenrein

Honors College Theses

The thesis is about the general history of the British tramways and how they developed throughout England in the nineteenth century. It includes their general development; how it affected England economically; how it affected England demographically; and how it affected the surrounding neighborhoods in England.

The Real Estate And Stock Market During The Great Depression: Construction Permit Growth As A Leading Economic Indicator For Stock Returns, Will Cresap

CMC Senior Theses

The 1929 stock market crash on Black Thursday, followed by the subsequent four-year period of extreme economic downturn, signifies an extremely profound piece of U.S. history. During this time, global economic productivity – measured by GDP – decreased while the U.S. unemployment rate increased staggeringly. Leveraging construction permits as a forward-looking measure of economic activity, I empirically evaluate the effect of construction permits – specifically, the lagged growth rate of monthly construction permits – and lagged monthly stock returns on monthly Standard & Poor's 500 (S&P 500) stock returns. Lagged construction permit returns and lagged stock returns provide early indications …

Patterns Of Enslavement And Economic Oppression Of Central Virginia, Hannah Bedwell

Undergraduate Research Posters

I address how anthropologists can identify the patterns and development of slavery and economic oppression through archaeology and the visualization of Virginia enslavement. I focus on the enslaved people of James Madison's Montpelier. I use 3D modeling as a foundation for integrating enhanced visuals with the goal of presenting a tangible understanding of the enslaved individuals in relation to the artifacts and history of the archaeological sites. I intend to show a common theme in economic oppression by comparing modern themes in slavery and examining Fraser D. Neiman's synthesis of the evolutionary perspective of slavery, and how little has changed …

What Goes Up Must Come Down: The Relationship Between The Housing Market Boom And The Subsequent Economic Downturn: Evidence From The Msa Level, Bruce Dale Service

CMC Senior Theses

Using MSA level data, the paper shows, that geographic areas which experienced the largest housing bubble generally suffered a more serious subsequent economic downturn. More specifically, the paper establishes that MSAs with larger declines in housing permits had larger increases in unemployment. There also appears to be strong evidence of a correlation between the magnitude of a housing boom and the timing of the decline in housing permits. MSAs which experienced larger real housing inflation offered early indications of the subsequent Great Recession.

The End Of The Three Percent Rule: How Structural Changes In The U.S. Economy Have Impacted Economic Growth, Maxwell J. Urman

CMC Senior Theses

Using data from government sources (FRED, BEA, BLS), the thesis explores the underlying reasons for declining U.S. economic growth. A long standing trend of annual 3% growth no longer seems to hold true for the economy. The paper summarizes current theory as to why the growth has slowed and finds new explanations by analyzing the various major industries which make up GDP. The results show that sectoral shifts in employment from high paying industries to low paying industries help to explain a significant portion of the decline in national growth rates. The decline in growth is primarily driven by about …

Institutional Development: Interpreting The Russian Case, Joshua W. Rooney

CMC Senior Theses

A fundamental question to both historians and development economists is why countries today are able to reach and maintain such starkly different economic outcomes. Popular explanations include geographic and climatological features, short-term policy decisions, and economic institutions. This paper looks at the importance of violence and social pressure in the transformation and conservation of political and economic institutions in Russia. It finds that several major historical legacies including serfdom, Mongol dominance, Orthodoxy, and authoritarianism significantly influence both the past a present institutional setting. Furthermore, such legacies have proven to be major obstructions to the emergence of economic liberalism.

Is Silence The Answer?, Gator Adams

CMC Senior Theses

This study examines the relationship between company management guidance, and ex-ante crash risk over the duration of 2008(Jan 2006-Dec 2009) financial crisis using the implied volatility skew, which is based upon ex-ante volatility implied by the pricing model developed by Black-Scholes (1973). The study finds that over the duration of this crisis period, management guidance decreases with a rise in ex-ante crash risk. Further, the study provides evidence on the relationship of management guidance and earnings volatility, and how that is affected by a firm's industry product concentration based on the Herfindahl-Hirschman Index (HHI) score.