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on Business, Economic and Financial History |
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Issue of 2024‒03‒11
forty-five papers chosen by |
| By: | Niman, Neil B. |
| Abstract: | For sixteen years, Neil Niman served as the treasurer of the History of Economics Society. It was a period of financial prosperity that enabled the society to undertake a number of new initiatives. This essay enumerates some of those changes and provides important insights into the workings of the society between 1999 – 2015. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:7uqgc&r=his |
| By: | Weintraub, E. Roy |
| Abstract: | Founded fifty years ago, the History of Economics Society served in its early years to support scholarship and teaching in the history of economic thought. But the decades long removal of history from economics departments and graduate programs has made the Society’s mission increasingly irrelevant to the larger community of economists. In this partially autobiographical essay, the author argues that it is long past time for the Society to reassess its place among learned societies. Some suggestions for HES renewal appear in the paper’s Appendix. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:tazd7&r=his |
| By: | Ellora Derenoncourt; Chi Hyun Kim; Moritz Kuhn; Moritz Schularick |
| Abstract: | The difference in the average wealth of Black and white Americans narrowed in the first century after the Civil War, but remained large and even widened again after 1980. Given high levels of wealth concentration both historically and today, dynamics at the average may not capture important heterogeneity in racial wealth gaps across the distribution. This paper looks into the historical evolution of the Black and white wealth distributions since Emancipation. The picture that emerges is an even starker one than racial wealth inequality at the mean. Tracing, for the first time, the evolution of wealth of the median Black household and the gap between the typical Black and white household over time, we estimate that the majority of Black households only began to dispose of measurable wealth around World War II. While the civil rights era brought substantial wealth gains for the median Black household, the gap between Black and white wealth at the median has not changed much since the 1970s. The top and the bottom of the wealth distribution show even greater persistence, with Black households consistently over-represented in the bottom half of the wealth distribution and under-represented in the top-10% over the past seven decades. |
| Keywords: | Racial wealth inequality, distribution |
| JEL: | D31 E21 J15 N11 N12 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2024_507&r=his |
| By: | maas, harro |
| Abstract: | This paper provides a personal reflection on the development, over 50 years, of the History of Economics Society. The (perhaps obvious) punchline is that history writing is not neutral, but entails stances about power and politics. These stances are all the more relevant in today's context, in which money buys history. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:u9324&r=his |
| By: | Jeffry Frieden (Harvard University); Richard S.Grossman (Department of Economics, Wesleyan University); Daniel Lowery (Harvard University) |
| Abstract: | We investigate how Reconstruction affected Black political participation and socioeconomic advancement after the American Civil War. We use the location of federal troops and Freedmen’s Bureau offices to indicate more intensive federal enforcement of civil rights. We find greater political empowerment and socio-economic advances by Blacks where Reconstruction was more rigorously enforced and that those effects persisted at least until the early twentieth century, although these advances were weaker in cotton-plantation zones. We suggest a mechanism leading from greater Black political power to higher local property taxes, through to higher levels of Black schooling and greater Black socio-economic achievement. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:wes:weswpa:2024-003&r=his |
| By: | Francesco Vercelli (Bank of Italy) |
| Abstract: | This paper examines the Italian banking system during the 1907 financial crisis, from start to finish. Using bank balance sheet data from the Historical Archive of Credit in Italy, we analyse the developments of the banking system in the run-up to the crisis. We show that the four Italian mixed banks, which registered a rapid growth at the beginning of the 20th century, were little engaged in the traditional activity of bill discounting and largely involved in ‘repurchase agreements’ on stocks and in correspondent current accounts. Because of this business model, the mixed banks – and in particular the Società Bancaria Italiana – turned out to be fragile when the international crisis hit the country. Then we analyse the complex interactions between the major financial institutions and the government in order to face the crisis. We focus on the role of the Bank of Italy, which acted as a modern central bank for the first time since its creation. |
| Keywords: | financial crisis, history of banking |
| JEL: | C81 G21 N23 N24 |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:workqs:qse_49&r=his |
| By: | Gan Jin; Günther G. Schulze (Department of International Economic Policy, University of Freiburg) |
| Abstract: | Can colonialism affect today’s urban outcomes? This paper examines the long-run impact of Concessions - foreign-run enclaves established in the late nineteenth century inside Chinese cities by European settlers for residence and investment purposes. They soon became the new economic hubs of their hosting cities. By using a unique dataset of geo-referenced apartment transactions and by employing a spatial regression discontinuity approach to identify the causality, we find that apartments located inside historical Concession areas command a price premium of 17% compared to similar homes just outside of the Concession boundaries. We show that the long-run economic effect of Concessions may be explained by better access to urban facilities in these areas. |
| Keywords: | Colonialism, Housing price, Urbanization, Persistence, China |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:fre:wpaper:47&r=his |
| By: | Medema, Steven G |
| Abstract: | In this article, Steven Medema provides some reflections on his tenure as editor of the Journal of the History of Economic Thought (1999 – 2008). This was a time of significant transition in the life of the journal, and the successful navigation of this period provides an excellent illustration of how much an editor and a journal rely on the assistance and support of both key individuals and the broader community of scholars in the field. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:nujcm&r=his |
| By: | Davis, John B. |
| Abstract: | The task given to me for this issue was to discuss the history, challenges, and accomplishments of the History of Economics Society (HES) as I see them from my vantage point as a past president. I frame my remarks in terms of changes I believe have occurred in how our field has been pursued in the Society since I became involved. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:ab7qr&r=his |
| By: | Nathaporn Thaijongrak (Srinakharinwirot University, Bangkok, Thailand) |
| Abstract: | The Cambodian monarchy has a long tradition as a symbol of the continuity of the nation. However, it was abolished in the 1970s due to a change in the form of government of the Republic country, and it was reestablished according to the 1993 constitution. The Cambodian monarchy stabilized under French rule. Initially, the French set up the elective monarchy system for Cambodia by colonial authority, in contrast to a hereditary monarchy, which was automatically passed down as a family inheritance. This pattern makes the power succession unusual from Cambodia's royal traditions. The research aims to study the factors and background events in the French colonization period that changed the monarchy system and the result to the Cambodian monarchy until the present day, using historical methods mainly based on primary and secondary documents. The results show that the idea of electing a king put in place by France was considered appropriate, partly because the selection of King Sihanouk to the throne ended quarrels within the royal family over his reign, and in the Constitution 1947 preciously specifies those who have the right to reign. It must be inherited from King Ang Doung, King Norodom, and King Sisowath, chosen by The Royal Council of The Throne, a nine-member council of Cambodia responsible for selecting the Cambodian monarch. When Cambodia became independent, every constitution with a constitutional monarchy regime stipulated the elective Monarchy by insisted on establishing the Royal Council of the Throne. |
| Keywords: | Elective Monarchy, French colonization, Cambodia |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0325&r=his |
| By: | Schabas, Margaret |
| Abstract: | This short piece celebrates the fifty-year old History of Economics Society. As a professor for the past forty years, I have served on virtually every committee for the HES, as well as its President in 2013-14. I have also served for thirty years on the advisory board for the leading journal in our field, History of Political Economy, and am currently on the editorial boards for both JHET and EJHET. This article records several observations of general trends and patterns, such as the diversification of our subject in terms of nationality and gender, as well as the burgeoning cross-disciplinarity scholarship. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:hpjz9&r=his |
| By: | Tavlas, George S. |
| Abstract: | Milton Friedman and David Meiselman’s 1963 article “The Relative Stability of Monetary Velocity and the Investment Multiplier in the United States, 1897-1958, ” was one of the most influential studies to come out of the Keynesian-monetarist debates of the 1960s and 1970s. The gestation of the article, however, is shrouded with considerable inaccuracy and ambiguity. I use archival materials to provide a more accurate chronological ordering of the gestation of the article than has hitherto been available. I show that the gestation was subject to considerable delays. I provide reasons that explain why a long-promised follow-up paper was never completed and why a book sequel to Friedman’s 1956 Studies in the Quantity Theory of Money, planned as a co-edited work shortly after the appearance of the Friedman and Meiselman 1963 article, was not published until 1970 and was edited by Meiselman alone. |
| Date: | 2024–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:vq4ht&r=his |
| By: | Boianovsky, Mauro |
| Abstract: | This is an invited contribution to the JHET celebration of 50 years of the HES. I share some of my recollections of roughly 3 decades of participation in various capacities, especially as author and sessions organizer. In the end, some thoughts are advanced about the future of the HES. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:f83r9&r=his |
| By: | Daniel P. Gross; Bhaven N. Sampat |
| Abstract: | We introduce new historical administrative data identifying U.S. government-funded patents since the early twentieth century. In addition to the funding agency, the data report whether the government has title to the patent (“title” patents) or funded a patent assigned to a private organization (“license” patents). The data include a large number of “license” patents that cannot be linked to government funding from patent text or other sources. Combining the historical data with modern administrative sources, we present a public, consolidated data series measuring U.S. government-funded patents—including funding agencies—through 2020, and we provide code to extend this series in the future. We use the data to document long-run patterns in U.S. government-funded patents and federal patent policy, propose ways in which these data can be used in future research, and discuss limitations of the data. |
| JEL: | N42 N72 O31 O34 O38 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32136&r=his |
| By: | Stapleford, Thomas |
| Abstract: | Review of “Cold War Social Science: Transnational Entanglements” edited by Mark Solovey and Christian Dayé. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:q8k5y&r=his |
| By: | Rockoff, Hugh |
| Abstract: | Review of “The Monetarists: the Making of the Chicago Monetary Tradition, 1927-1960” by George S Tavlas. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:kcx59&r=his |
| By: | Rutherford, Malcolm |
| Abstract: | This paper outlines my own career within the History of Economics Society, my contributions to the society, and its central importance to my research endeavors. It is impossible for me to imagine having the career I have had without the HES, and my own case highlights how the society functioned to mentor and develop my academic career. This mentoring function is, in my view, the society’s most important, and one that has become only more vital in the face of the declining interest in the area within mainstream economics departments in the US, Canada, and the UK. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:psv94&r=his |
| By: | Faudot, Adrien; Nenovsky, Nikolay |
| Abstract: | Edgard Milhaud (1873–1964), a professor at the University of Geneva, published a series of texts (from 1932 onwards) promoting the establishment of multilateral international compensation between nation states, and actively campaigned for this project. His plan centered on a call for a “gold truce” as an alternative to the bilateral clearing agreements that proliferated at the time. The plan drew the attention of several international organizations. It reached the point of arousing the interest of the League of Nations (LON), which decided in 1934 to launch an inquiry (published in 1935) questioning LON members about the project of making clearing agreements multilateral. The Milhaud plan nevertheless fell into oblivion after the Tripartite Agreement (1936) and then the outbreak of WWII. This work aims to situate the Milhaud plan in its intellectual and political context —i.e., the 1930s —analyze its content and understand its failure. The article also assesses what it had in common with the Keynes’ plan for International Cleating Union developed several years later. |
| Date: | 2024–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:rveca&r=his |
| By: | Angel de la Fuente |
| Abstract: | En esta nota se describe brevemente la última actualización de RegData, una base de datos que recoge los principales agregados económicos y demográficos de las regiones españolas durante las últimas seis décadas. En su mayoría, las series comienzan en 1950 o 1955 y se extienden hasta 2022. En años recientes, la información que ofrece RegData coincide con las últimas series oficiales que publica el INE. Estas series se enlazan con series oficiales anteriores y con otras fuentes con el fin de obtener series enlazadas homogéneas que se extienden hacia atrás tanto como ha sido posible. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaeee:eee2024-06&r=his |
| By: | Coutinho, Mauricio C. |
| Abstract: | Review of “Money, Debt and Politics: The Bank of Lisbon and the Portuguese Liberal Revolution of 1820” by José Luís Cardoso. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:dnmrw&r=his |
| By: | Jonathan Colmer; Suvy Qin; John Voorheis; Reed Walker |
| Abstract: | This paper uses administrative tax records linked to Census demographic data and high-resolution measures of fine small particulate (PM2.5) exposure to study the evolution of the Black-White pollution exposure gap over the past 40 years. In doing so, we focus on the various ways in which income may have contributed to these changes using a statistical decomposition. We decompose the overall change in the Black-White PM2.5 exposure gap into (1) components that stem from rank-preserving compression in the overall pollution distribution and (2) changes that stem from a reordering of Black and White households within the pollution distribution. We find a significant narrowing of the Black-White PM2.5 exposure gap over this time period that is overwhelmingly driven by rank-preserving changes rather than positional changes. However, the relative positions of Black and White households at the upper end of the pollution distribution have meaningfully shifted in the most recent years. |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10895&r=his |
| By: | Daniel Chong (Leonia High School, Leonia, NJ, USA); Daniel B. Kurz (Middlesex College, Edison, NJ, USA) |
| Abstract: | The Roman Pantheon is one of the most notable and influential structures ever produced by Western Civilization. Built of a variety of materials, including a type of ancient concrete, the Romans employed a variety of new construction techniques and features that gave it a unique look and lasting qualities. Today it remains one of the best-preserved ancient structures, which has been replicated in various form over the course of the 20th Century, especially in academic architecture. Here we will look at four examples in particular that attempted, in some fashion, to mimic the grandiosity of the original monument while adding features unique to present structural utilization. Additionally, we will delve into why the Pantheon was replicated and imitated, as opposed to other famous, iconic structures. |
| Keywords: | Campus Architecture, Architecture, Pantheon, Neoclassical, Replica Architecture, Jefferson, Anchor Buildings, flattery, imitations |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0341&r=his |
| By: | Karmakar, Asim K.; Jana, Sebak Kumar |
| Abstract: | Mohandas Karamchand Gandhi (1869-1948), known as ‘Mahatma’, meaning ‘great-souled’ as people called him, was born on 2nd October 1869 at Porbandar in India. He was the first to warn the then-Indian leaders, policymakers, and his followers in the late 1940s about the dangers of high inequality in income and wealth distribution prevalent between the rich and the poor in India. This shows his power of visionary gleams and his awareness of the political economy. Gandhi’s vision of non-violence, ahimsa, and right action was based on the idea of the total spiritual interconnectedness and divinity of life as a whole. He was also the first to create three principles of sustainable development: Sarvodaya, Swadeshi, and Satyagraha, aptly relevant to today’s India. His idea of creating of economically self-sufficient local economy is now at the closest proximity to 'Atmanirbhar Bharat' which he tried to launch many years back. It is in this context we try to explore the relevance of Gandhian political economy for today’s India. |
| Keywords: | Political economy, Platform capitalism, Sarvodaya, Satyagraha, Sustainable development |
| JEL: | B3 |
| Date: | 2023–12–27 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119582&r=his |
| By: | Barbara Boelmann (University of Cologne, Department of Economics and ECONtribute: Markets Public Policy, SSC, Universitätsstraße 22, 50937 Cologne, Germany) |
| Abstract: | This paper shows that the local availability of universities acted as a catalyst in the catch-up of women in higher education that has been documented for developed countries in the latter half of the 20th century. It uses the foundation of new univer- sities in the 1960s and 1970s in West German regions which previously did not have a university as a case study to understand how women’s mobility and education decisions interact. I first document women’s low regional mobility in post-war West Germany along with their low educational attainment. Second, I exploit that the university expansion exogenously brought universities to women’s doorsteps in a difference-in- differences (DiD) strategy. Comparing regions which experienced a university opening within 20 km to those where no university was opened, I show that women benefited more than men from a close-by university opening, closing the local gender gap in university education by about 72%. Third, I provide evidence that local universities partly increased university education through reduced costs, while part of the effect is due to higher expected returns, highlighting an important second channel through which universities promote education to local youths. |
| Keywords: | college gender gap, geographic mobility, university expansion |
| JEL: | I23 I24 I28 J16 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:ajk:ajkdps:280&r=his |
| By: | Loubergé, Henri (Université de Genève); Dionne, Georges (HEC Montreal, Canada Research Chair in Risk Management) |
| Abstract: | The chapter reviews the evolution in risk and insurance economics over the past 50 years, first recalling the situation in 1973, then presenting the developments and new approaches that have flourished since then. We argue that these developments were only possible because steady advances were made in the economics of risk and uncertainty and in financial theory. Insurance economics has grown in importance to become a central theme in modern economics, providing not only practical examples and original data to illustrate new theories, but also inspiring new ideas that are relevant to the overall economy. |
| Keywords: | Insurance economics; optimal insurance protection; optimal self-protection; insurance pricing; insurance demand; economics of risk and uncertainty; financial economics; risk management; asymmetric information; insurance markets; climate finance |
| JEL: | A33 B15 D10 D20 D80 D82 G22 G32 G52 L22 |
| Date: | 2024–01–31 |
| URL: | http://d.repec.org/n?u=RePEc:ris:crcrmw:2024_001&r=his |
| By: | Cardoso, José Luís |
| Abstract: | Attending the annual HES conferences is a fantastic learning experience. In this personal testimony I try to explain the reasons for this enthusiasm, around three fundamental aspects: the innovations and changes in the historiographical field of the history of economics, the informal governance of a dynamic community, and the relevance of methodological pluralism as a guide for research development. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:ms7yg&r=his |
| By: | McNamara, Sarah; Neidhöfer, Guido; Lehnert, Patrick |
| Abstract: | We estimate intergenerational mobility of education for people born 1940-1999 at the subnational level for 40 European countries. The result is a panel of mobility indices for 105 mesoregions (NUTS1), and 215 microregions (NUTS2). We use these indices to make three contributions. First, we describe the geography of intergenerational mobility in Europe. Second, adapting a novel weighting procedure based on cohorts' relative economic contribution, we transform cohort-linked measures into annual measures of intergenerational mobility for each region. Third, we investigate the relationship between intergenerational mobility and innovation, and find robust evidence that higher mobility is associated with increased innovation. |
| Keywords: | Intergenerational Mobility, Equality of Opportunity, Human Capital, Innovation, Regional Economic Performance, Europe |
| JEL: | D63 I24 J62 O15 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:283012&r=his |
| By: | Matthias Flückiger; Mario Larch; Markus Ludwig; Luigi Pascali |
| Abstract: | In the latter half of the fourth millennium BC, our ancestors witnessed a remarkable transformation, progressing from simple agrarian villages to complex urban civilizations. In regions as far apart as the Nile Valley, Mesopotamia, Central Asia, and the Indus Valley, the first states appeared together with writing, cities with populations exceeding 10, 000, and unprecedented socio-economic inequalities. The cause of this “Urban Revolution†remains unclear. We present new empirical evidence suggesting that the discovery of bronze and the ensuing long-distance trade played a crucial role. Using novel panel data and 2SLS techniques, we demonstrate that trade corridors linking metal mines to fertile lands were more likely to experience the Urban Revolution. We propose that transit bottlenecks facilitated the emergence of a new taxing elite. We formally test this appropriability theory and provide several case studies in support. |
| JEL: | D02 F10 H10 N40 O43 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:upf:upfgen:1878&r=his |
| By: | Song, Teresa |
| Abstract: | South Korea’s economic growth (EG) miracle has been a source of discussion since the 1990s. The assumption of relatively equitable distribution of resources should be contested, as a growing base of evidence shows that human development (HD) and gender parity improvements are not automatic. To that effect, this dissertation asks the question of why the gender equality index (GEI), a subset of the historical index of human development (HIHD) lagged, despite GDP per capita and HIHD growth. It is hypothesised that the widening of the gender pay gap (GPG) during 1976-1996, was predominantly responsible for worsening the GEI, leading to the divergence between GDP, HIHD and GEI. The occupational wage survey (OWS) conducted annually since 1971, by the South Korean Ministry of Labour is used to perform econometric analysis to understand the GPG time trend and how it was impacted by marital status and the introduction of trade unions. The results demonstrate that whilst earnings increased, the GPG widened, with marital status and trade unions offering explanations for increased discrimination. My findings provide support for analysing the benefits of redistribution on a gendered basis and making a case for gender equality improvements on both an intrinsic and instrumental level. Much further research can be done in this area, especially in the quantification of culture and its ongoing legacy on societal gendered roles in determining GPG inter alia. |
| Keywords: | gender pay gap; gender equality; economic growth; human development; South Korean growth; marital status; trade unions |
| JEL: | N0 R14 J01 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:122006&r=his |
| By: | Joaquín Rubio (eds.); Jorge M. Streb (eds.); Lara Almozni; Nicanor Campi; Frank Eric Maier; Natan Gabriel Modlin; Catarina Petrone |
| Abstract: | Esta colección de ensayos se enfoca en diferentes aspectos de la Teoría de Sentimientos Morales (TSM) de Smith. Almozni analiza la formación de burbujas ideológicas y la cultura de cancelación en las redes sociales, Petrone, cómo los candidatos políticos buscan identificarse con los votantes, Modlin, la soledad versus la vida en pareja, y Campi, la cooperación humana en cuestiones económicas y no económicas. En todos estos ensayos, la noción de simpatía de Adam Smith juega un rol central, sea como empatía cognitiva o empatía afectiva; también asoma la noción de justica, que en Smith está ligada con la figura del espectador imparcial. Por su parte, Maier analiza cómo el mal que a veces impera en las sociedades choca con la existencia de un espectador imparcial y con un punto de vista común sobre justicia que coincida en todo tiempo y lugar. |
| Keywords: | Adam Smith, creencias, simpatía, empatía, interés propio, moral, justicia, espectador imparcial |
| JEL: | B12 D01 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:cem:doctra:862&r=his |
| By: | Jamie Kim (Eastern Christian High School, Paramus, New Jersey, USA) |
| Abstract: | Conducted from 1945-1946, the Nuremberg Trials were the first instance of justice for the unique crime of genocide, and redefined international law and obligation, setting a precedent for holding individuals responsible in cases of human rights violations. The trial and conference transcripts and images of the time tell the story of nations attempting to navigate through the inherent clash between national sovereignty and international law, as well as creating an entirely new international code. Controversy, however, remains on the desired outcome of the trials as contention remains over the Allied powers’ use of the Nuremberg Trials for propaganda and “show†trials. While the Nuremberg Trials were utilized to restore justice, their extensive use of film and photography suggests that another key interest was to immortalize WWII’s crimes. Additionally, critics contest the Nuremberg Trials’ validity due to their predetermined outcome. Furthermore, although the Nuremberg Trials marked a significant step in international justice, the subsequent genocides and human rights violations provoke questions of the trial’s effectiveness. This paper argues that although the Nuremberg Trials were flawed, they altered history in their debut of international justice with creations of bodies such as the International Criminal Court; yet, it is only when nations can truly lay down self-centered interests for the greater good that justice can be impartially executed. |
| Keywords: | World War II, Nuremberg Trials, Nazism, Genocide, Jurisprudence, International Law, International Justice, Propaganda, Due Process, Holocaust, Germany, criminality, London Conference, precedent, Nazis, Joseph Stalin, Winston Churchill, Harry Truman, Occupation, Human Rights |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0352&r=his |
| By: | Paolo Piselli (Bank of Italy); Francesco Vercelli (Bank of Italy) |
| Abstract: | The paper studies banks investment in Italian government bonds from 1890 to the present. First, through an extensive statistical reconstruction and in-depth analysis of historical sources, it shows how the economic and institutional environment has influenced the purchases of government securities, analyzing in particular the conditions and structure of the market for public bonds (supply, available financial instruments, yields, riskiness), regulation and moral suasion action by public authorities. Second, using a database of Italian banks' balance sheets from 1890 to the present, an econometric analysis is conducted of the microeconomic determinants of demand for government bonds, such as funding, liquidity, profitability, and default risk. Finally, it is shown how the contribution of these determinants changes during periods of increased sovereign debt riskiness. |
| Keywords: | storia bancaria, titoli di stato |
| JEL: | C23 G21 G28 N23 N24 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:workqs:qse_50&r=his |
| By: | Pablo Marmissolle (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía); Henry Willebald (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía) |
| Abstract: | We describe the methodology and sources used to estimate the functional income distribution series in Uruguay for the period prior to the 1908 census. We show the estimates and splices made to obtain continuous series with an annual frequency for the period 1870–1908. Income is decomposed, in functional terms, into wages, land rents, mixed capital-labour incomes, and profits. Given the extended time frame and diversity of available sources, we first describe the methodology used to estimate each income component in 1880-1908, followed by the estimation method for 1870-1880. The results indicate that the main changes in the distribution are observed between profits and wages. Until the outbreak of the crisis in 1890, there was a clear upward trend in the profit share, the counterpart of which was a decline in the wage share. After the crisis, the trends reversed. From 1894 onwards, both shares showed a stable trend until the end of the period, although significant variations in their levels can be observed. Land revenue represented 20% of income until 1883; its share of income fell in 1884-1887, after which it stabilised at approximately 16%. Mixed incomes maintained a relatively stable income share of around 7%. |
| Keywords: | functional income distribution, national accounts, Uruguay |
| JEL: | D33 N56 N36 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:ulr:wpaper:dt-24-23&r=his |
| By: | Boumans, Marcel; Forget, Evelyn |
| Abstract: | A reflection of our experiences as editors of JHET editing issues 31 (1) to 35 (4), balancing our original ambitions and hopes with the resulting articles in these issues. We also reflect on the transitions we have faced during this period. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:gyxhr&r=his |
| By: | Vincent Salaun (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université) |
| Abstract: | Temporary organizations have been known and studied for many years, but there are still many unknowns. Since the founding writings on the subject in the 1970s, the scientific community has continued to develop knowledge and to highlight the specific characteristics of this type of structure. However, as has recently been highlighted, the transition from the state of a potential project to that of a project in progress remains particularly poorly understood. Often referred to as transitional phases, these periods of change are still poorly defined. After presenting the literature on transitional phases, the paper aims to highlight that these phases are primarily dedicated to the transfer of coordination from the strategic top to the logistic functions. The main academic contribution of the paper lies in the proposal of a conceptualisation of transitional phases around three main dimensions: the construction and mobilisation of an organisational memory, the introduction and stabilisation of managerial innovations, and the evolution of the mode of coordination of actions. From an empirical point of view, the paper is based on multiple case studies from the field of event management in the broadest sense, including sports and musical events, as well as popular festivals |
| Keywords: | Temporary Logistics, Transition, Temporary Logistics Transition Coordination Mutual Adjustment Case Study, Coordination, Mutual Adjustment, Case Study |
| Date: | 2022–05–18 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04404091&r=his |
| By: | Gan Jin; Günther G. Schulze (Department of International Economic Policy, University of Freiburg) |
| Abstract: | Can historical institutions affect today’s firm innovation? We analyze a historical experiment in 1902, when the foreign-run Chinese Maritime Customs Service (CMC), known for its efficient and transparent governance, took over some of the notoriously corrupt Chinese Native Custom stations and improved their governance. Using a large data set of contemporary industrial firms in China, we show that firms in locations historically affected by the CMC rules exhibit higher innovation intensities today, which can be attributed to the persisting norms of honesty and lawfulness embedded in the CMC institution. They reduce local corruption and stimulate firms’ investment in R&D and training to this day. We identify a causal effect by comparing firms in locations affected by the takeover with firms in similar but unaffected regions nearby. We also use an IV strategy that exploits the takeover criterion, which stipulated that Native Customs stations within a 25 km radius of a CMC customs station could be taken over by the Western powers. |
| Keywords: | Innovation, Persistence, Institutions, Corruption, China |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:fre:wpaper:46&r=his |
| By: | Bach, Maria |
| Abstract: | Review of “Inventing the Third World: In Search of Freedom for the Postwar Global South” edited by Jeremy Adelman and Gyan Prakash. |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:eybwm&r=his |
| By: | Enache Tusa (Ovidius University of Constanta, Romania) |
| Abstract: | The education system in Romania reached a high degree of maturity in the period after the First World War, integrating different educational systems, thus managing to include a large number of the country's population in a form of organized education. At that time, only primary education was compulsory and free, and the country was faced with illiteracy that affected especially the elderly segments of the population. Education has been and will remain a priority. It begins at birth and continues throughout life in various forms. To support this judgement, we proceed to the development of policies that integrate the health and social fields into education. |
| Keywords: | management, education, PISA, school management |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0329&r=his |
| By: | Uner, Firat; OĞULTÜRK, Assoc. Prof. Dr.M. Cem |
| Abstract: | Trade is one of the fundamental reasons underlying the relationships between societies. Commercial interactions have contributed to the establishment of a specific international system worldwide through the trade relations between empires and states. In the 20th century, interstate trade led to the formation of certain agreements, some of which gave rise to regional-scale trade alliances. The North American Free Trade Agreement (NAFTA) is one of the regional trade agreements documented among North American countries, holding significant importance not only in increasing trade volume among signatory nations but also in terms of fostering regional cooperation and closer political relations.Despite being criticized by many since its signing date, NAFTA underwent substantial changes in 2020 and was restructured under the name The United States-Mexico-Canada Agreement (USMCA). Despite controversies and criticisms, NAFTA played a significant role in strengthening regional economic, social, and political ties, becoming one of the prominent examples of the rising regional trade agreements worldwide after the 1990s. In this study, the motivation behind NAFTA's inception, its historical development, member countries, and the positive impacts on the region are discussed. The contributions of NAFTA to the North American economy and regional development are examined through the analysis of gathered data, reports, and academic studies. The study aims to discuss the findings on the impact of NAFTA not only as a trade agreement but also on regional social and political developments. |
| Keywords: | NAFTA, USA, Mexico, Canada, Trade |
| JEL: | H0 |
| Date: | 2024–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120039&r=his |
| By: | Alexandre Chirat; Basile Clerc |
| Abstract: | The concept of a necessary transition to a "war economy" in response to the ecological crisis is gaining traction. However, this discussion often overlooks the fact that a war economy primarily relies on policies such as price controls and rationing, as exemplified by the United States' economy during World War II. Whether it's for wartime efforts or addressing climate urgency, both scenarios seem justifying the suspension of market mechanisms in key sectors to achieve production goals while mitigating the social costs of transition. Nonetheless, a significant disparity lies in the social acceptability of such political measures, which proves to be considerably more challenging to establish within the context of the climate and ecological crisis. |
| Keywords: | Ecological transition - war economy - price controls |
| JEL: | Q50 Q41 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2024-8&r=his |
| By: | Emmanuelle Augeraud-Véron (GREThA, University of Bordeaux); Raouf Boucekkine (CUT, Rennes School of Business, France); Fausto Gozzi (Dipartimento di Economia e Finanza, LUISS Guido Carli, Rome); Alain Venditti (Aix-Marseille Univ., CNRS, AMSE, Marseille, France) |
| Abstract: | We present an overview of selected contributions of the Journal of Mathematical Economics' authors in the last half century. We start with the classical optimal growth theory within a benchmark multisector model and outline the successive developments in the analysis of this model, including the turnpike theory. Different refinements of the benchmark are considered along the way. We after survey the abundant literature on endogenous fluctuations in two-sector models. We conclude with two strong trends in the recent growth literature: green growth and infinite-dimensional growth models. |
| Keywords: | Growth theory, multisector models, turnpike theory, green growth, infinite-dimensional growth models, optimization |
| JEL: | C60 C61 O41 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:aim:wpaimx:2406&r=his |
| By: | Ignas Gasparavi\v{c}ius; Andrius Grigutis |
| Abstract: | This survey article is dedicated to the life of the famous American economist H. Markowitz (1927--2023). We do revisit the main statements of the portfolio selection theory in terms of mathematical completeness including all the necessary auxiliary details. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.10253&r=his |
| By: | Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Sarah Nandnaba (Department of Economics, Ecole normale superieure (ENS) Paris-Saclay, 91190 Gif-sur-Yvette, France); Wei Jiang (School of Economics, University of Kent, Canterbury, Kent, CT2 7PE, United Kingdom) |
| Abstract: | We develop an overlapping generations endogenous growth model characterized by climate change, with the latter being specified as a fraction of output lost due changes in temperature anomalies. We show that growth dynamics arise in this model when changes in temperature anomalies is a positive function current economic growth, with this theoretical specification motivated through extensive empirical analyses involving 167 countries over a long span of historical data covering 1851 to 2018. In particular, two distinct oscillatory growth dynamics emerge: one convergent and the other divergent, contingent on the strength of the response of global warming, i.e., changes in temperature anomalies to current economic growth. Our theoretical results suggest that policy makers should be cognizant of the fact that unless economic growth is “green†, rapid global warming can would put economies in a fluctating divergent balanced growth. |
| Keywords: | Climate change, endogenous growth, dynamics |
| JEL: | C23 O41 Q54 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:pre:wpaper:202404&r=his |
| By: | Reader, Mary Patricia; Burchardt, Tania |
| Abstract: | This paper offers an empirical account of the changing landscape of private and public welfare activity in England over the forty years prior to the Covid-19 pandemic. It forms a part of the Social Policies and Distributional Outcomes in a Changing Britain research programme and it builds on a methodology devised by John Hills in 1997 and subsequently taken forward by him and successive CASE researchers. The variation in governmental ideologies, aims and policies with regards to the welfare state, and the balance between public and private actors within it, has been significant over the last four decades. But we argue that against a background of strong overall increases in demand for welfare of all kinds, policy changes have in practice produced a consistent direction of travel: away from a “pure public” collective model of financing, providing and decision-making, towards individualised responsibility and private provision. Although high-profile reforms have often produced underwhelming changes in actual shares of expenditure between different kinds of welfare activity, incremental changes have de facto redesigned the architecture of the welfare settlement. |
| Keywords: | private; public; welfare; provision |
| JEL: | I38 |
| Date: | 2023–01–04 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:121556&r=his |
| By: | A L Assimi (Laboratoire des Sciences Economiques et Politiques Publiques (LSEPP) Faculté d’Economie et de Gestion de Kénitra) |
| Abstract: | Résumé Cet article s'interroge sur l'impact de la politique industrielle adoptée au Maroc ces deux dernières décennies sur la compétitivité de l'industrie marocaine, principalement les secteurs clés désignés comme une locomotive de développement de l'économie marocaine. A travers la mise en place de trois plans : Plan Emérence, le Pacte National pour l'Emergence Industrielle et le Plan d'Accélération Industrielle. Dans un contexte national, régional et international spécial. L'objectif principal consiste à faire une évaluation et une analyse de l'approche industrielle marocaine par la spécialisation dans les Métiers Mondiaux du Maroc. Moyennant un ensemble d'indicateurs de compétitivité durant la période 2005-2020. Aussi, de déterminer les facteurs qui encouragent et/ou ceux qui entravent la compétitivité de l'industrie marocaine. Cependant, les résultats obtenus, démontrent clairement que malgré les ressources mobilisées dans le cadre de la nouvelle politique industrielle. Le Maroc n'a pas encore consolidé une véritable politique industrielle capable de surmonter les contraintes structurelles à son développement. Exception faite pour les secteurs de l'Automobile et d'une façon moins importante le secteur de l'Aéronautique. Car, la compétitivité de l'industrie marocaine est compromise par des contraintes d'ordre institutionnel (climat d'affaire, limites de bonne gouvernance, compétitivité des PME…) et des contraintes d'ordre transversal (foncier industriel, la problématique du financement et d'accès au crédit, un système de formation non adapté au besoin de la compétitivité…etc). Mots-clés : Politique industrielle, compétitivité, spécialisation, Métiers Mondiaux du Maroc. |
| Keywords: | Industrial policy, specialization, competitiveness, World Trades of Morocco, Politique industrielle, spécialisation, compétitivité, Métiers Mondiaux du Maroc |
| Date: | 2023–12–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04342085&r=his |