Economic History Commons^™

Convergence Towards An Optimal Currency Area In The European Union, Santiago Botto Tornielli

Harvey M. Applebaum ’59 Award

This essay uses the European Union as a case study to analyze the conditions for an optimal currency area, the regional differences that give rise to divergences from optimal conditions, and how to measure divergence. The essay reviews the extensive body of theoretical literature on optimal currency areas (OCA), analyzes the historical evidence and documents that outline the economic institutions of the EU, and performs an empirical factor analysis on different possible indicators of convergence to identify to the most important variables. In the absence of adjustment mechanisms, economic geography plays an essential role in forming an OCA because members …

Your Thoughts Projected: Television Comedies, Economic Content, And American Economic Attitudes, 1949-1990, Cody J. Lolos

All Master's Theses

This study analyzes the relationship between American television audiences and television comedies in the latter half of the twentieth century. The driving questions are how did television comedies depict economic content and how was that content related to American audiences' economic perceptions? By analyzing eight television comedy programs, this study asserts that not only did television comedies contain a substantial amount of economic content, including consumption, thrift, employment, and other significant and relevant economic factors, but the economic content found in television comedies accurately reflected Americans' economic attitudes over time. As a result, television comedies' economic content further correlated with …

La Dialéctica, David Harvey

Publications and Research

Raymond Williams eligió el recurso de pensar ‘mundos posibles’ ficticios para abordar la complejidad de temas relativos al lugar, el espacio y el ambiente. ¿Sin embargo, será que este era un recurso necesario, o más bien una estrategia aleatoria suya para profundizar en el estudio de la teoría de la cultura? Empezaré en este capítulo por demostrar que la estrategia empleada por Williams no es necesaria en absoluto. Espero poder demostrar que la investigación materialista histórica, inducida por un entendimiento dialéctico, puede integrar los temas de lugar, espacio y ambiente (naturaleza) en la teoría social y en la teoría literaria. …

The Future Encyclopedia Of Luddism, Miriam A. Cherry

All Faculty Scholarship

In common parlance, the term “Luddite” means someone who is anti-technology, or maybe, just not adept at using technology. Historically, however, the Luddite movement was a reaction born of industrial accidents and dangerous machines, poor working conditions, and the fact that there were no unions to represent worker interests during England’s initial period of industrialization. The Luddites did not hate technology; they only channeled their anger toward machine-breaking because it had nowhere else to go. The attached book chapter is an alternate history (written circa 2500) that depends on the critical assumption that the Luddites succeeded in their industrial campaign …

Model Specification For Bank Failure: A Retrospective Look At Banks In Missouri During The Great Depression, Peter Welch

CMC Senior Theses

This paper examines banks in Missouri during the Great Depression in order to find the correct model specification for bank failure during economic downturns. The data set controls for a bank’s balance sheet, correspondent network, charters and memberships, county characteristics, and market share, and includes both Federal Reserve member and non-member banks. Using a probit model, it is concluded that the contractionary monetary policy employed by the St. Louis Federal Reserve did not help bank survival, as being a member of the Federal Reserve had no significant effect on a bank’s probability of survival. Additionally, while an increased network led …

The Effects Of The Correspondent Banking Network On The Real Economy, Jack Brown

CMC Senior Theses

There is a longstanding academic debate regarding the role of financial networks. There is a tradeoff between improving the flow of funds and acting as a channel for contagion. This paper investigates the impact of banking networks on the real economy during the Great Depression. Building permit values are used as a proxy for real economic activity as implemented in previous research. A simple linear regression model estimated by ordinary least squares is used such that locational networks are differentiated from networks links to money centers and non-money centers. The results demonstrate that financial networks have both positive and negative …

Dorothy Moser Medlin Papers - Accession 1049, Dorothy Moser Medlin

Manuscript Collection

(The Dorothy Moser Medlin Papers are currently in processing.)

This collection contains most of the records of Dorothy Medlin’s work and correspondence and also includes reference materials, notes, microfilm, photographic negatives related both to her professional and personal life. Additions include a FLES Handbook, co-authored by Dorothy Medlin and a decorative mirror belonging to Dorothy Medlin.

Major series in this collection include: some original 18th century writings and ephemera and primary source material of André Morellet, extensive collection of secondary material on André Morellet's writings and translations, Winthrop related files, literary manuscripts and notes by Dorothy Medlin (1966-2011), copies …

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 …