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ePub States of Credit: Size, Power, and the Development of European Polities (The Princeton Economic History of the Western World) download

by David Stasavage

ePub States of Credit: Size, Power, and the Development of European Polities (The Princeton Economic History of the Western World) download
Author:
David Stasavage
ISBN13:
978-0691140575
ISBN:
069114057X
Language:
Publisher:
Princeton University Press; 1 edition (July 25, 2011)
Category:
Subcategory:
Humanities
ePub file:
1947 kb
Fb2 file:
1814 kb
Other formats:
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Rating:
4.9
Votes:
849

The Princeton Economic History of the Western World Series. April 2013 ยท History.

The Princeton Economic History of the Western World Series. Volume 72 Issue 1 - MARK DINCECCO. Do you want to read the rest of this article? Request full-text. What type of file do you want? RIS. BibTeX.

The Journal of Economic History. The Princeton Economic History of the Western World Series. IMT Lucca Institute for Advanced Studies.

Stasavage's argument is properly an argument about the persistence of city-states in the face of threats by territorial states.

with the purchase of any eligible product. Shop now. Product description. Stasavage's argument is properly an argument about the persistence of city-states in the face of threats by territorial states.

Stasavage sought to explain why the latter developed earlier in city-states than in territorial states, and he thoroughly and compellingly accomplished this intellectual task.

Published July 25th 2011 by Princeton University Press (first published July 5th 2011). 069114057X (ISBN13: 9780691140575). Princeton Economic History of the Western World.

Series: Princeton Economic History of the Western World. Published by: Princeton University Press.

This eventually transformed certain city-states from economic dynamos into rentier republics.

Stasavage shows that active representative assemblies were more likely to be sustained in geographically small polities. This eventually transformed certain city-states from economic dynamos into rentier republics.

The Princeton Economic History of the Western World Series. Published: 12 March 2012. by Cambridge University Press (CUP). in The Journal of Economic History. The Journal of Economic History, Volume 72, pp 284-286; doi:10. For questions or feedback, please reach us at support at scilit. More articles in The Journal of Economic History from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK. Bibliographic data for series maintained by Keith Waters. ) The Journal of Economic History, 2012, vol. 72, issue 01, 284-286. This site is part of RePEc and all the data displayed here is part of the RePEc data set.

States of Credit provides the first comprehensive look at the joint development of representative assemblies and public borrowing in Europe during the medieval and early modern eras. In this pioneering book, David Stasavage argues that unique advances in political representation allowed certain European states to gain early and advantageous access to credit, but the emergence of an active form of political representation itself depended on two underlying factors: compact geography and a strong mercantile presence.

Stasavage shows that active representative assemblies were more likely to be sustained in geographically small polities. These assemblies, dominated by mercantile groups that lent to governments, were in turn more likely to preserve access to credit. Given these conditions, smaller European city-states, such as Genoa and Cologne, had an advantage over larger territorial states, including France and Castile, because mercantile elites structured political institutions in order to effectively monitor public credit. While creditor oversight of public funds became an asset for city-states in need of finance, Stasavage suggests that the long-run implications were more ambiguous. City-states with the best access to credit often had the most closed and oligarchic systems of representation, hindering their ability to accept new economic innovations. This eventually transformed certain city-states from economic dynamos into rentier republics.

Exploring the links between representation and debt in medieval and early modern Europe, States of Credit contributes to broad debates about state formation and Europe's economic rise.

  • Great

  • Nice and informative. Learned about this author from politics and finance course. Book is must-read for everyone interested in social sciences and history.

  • An interesting and methodologically unusual monography on the relationship between political representation and public finance in early modern Europe. The author is a historically oriented political scientist who uses both traditional historical narrative-qualitative analysis and econometric methods to explore this topic. This is probably on the only histroical monograph drawing extensively on theories of corporate finance and governance. Stasavage compiled a considerable amount of data on finance and governance in both early modern European city-states and territorial states. With this data in hand, he makes predictions about the relationships between state political representation and public finance and test them in regression models. This is interesting but will probably limit the audience for this book because most scholare are not familiar with regression modelling. The complementary use of conventional narrative and the regression modelling is quite strong.

    Stasavage argues that for much of the period under discussion, city-states definitely enjoyed advantages over territorial states in raising loans for public projects, particularly military expenses. This advantage was related to the representative politics of many city-states, which essentially allowed important creditors, often merchants with liquid capital, to monitor the status and use of loaned funds. Responsible administration allowed city-states to borrow at advantageous rates. Stasavage indicates that the representation-public finance connection was made possible by the small size of city-states, which facilitated the formation and allowed the frequent meeting of representative bodies. Stasavage suggests also that dominance of representative institutions by merchant oligarchies was most successful in facilitating successful public finance, at the probable long-term cost of impairing economic growth.

    Stasavage's argument is properly an argument about the persistence of city-states in the face of threats by territorial states. He also has an interesting argument that vigorous city-states were a contingent result of the breakup of the Carolingian polity. This argument is less well developed but plausible.

    Interesting and well argued, this book illustrates the complexity and highly contingent nature of early modern European history.

  • I thoroughly enjoyed this; it goes way beyond the articles that underly this, and it is eminently readable. This is how social science should be done!