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Nigerian-born Olaudah Equiano (c.1745–97), also known as Gustavus Vassa, was sold into slavery as a child and endured the horrors of the transatlantic slave ships. He later worked on board Royal Navy vessels, receiving an education and converting to Christianity. Buying his freedom in 1766, he embarked on several voyages before settling in London, where he became involved in the causes of anti-slavery and the welfare of former slaves. Published in 1789, this successful two-volume autobiography boosted the abolitionist cause, providing a first-hand account of the experience of Africans on both sides of the Atlantic. An important document in the history of slavery and immigration, it remains a classic work of black writing. Volume 1 begins with Equiano's background and kidnapping, and the Atlantic crossing. He recounts his adventures in the Royal Navy during the Seven Years' War, and subsequent experiences of merchant trading in the Americas.
This book explores changes in rural households of the Georgia Piedmont through the material culture of farmers as they transitioned from self-sufficiency to market dependence. The period between 1880 and 1910 was a time of dynamic change when Southern farmers struggled to reinvent their lives and livelihoods. Relying on primary documents, including probate inventories, tax lists, state and federal census data, and estate sale results, this study seeks to understand the variables that prompted farm households to assume greater risk in hopes of success as well as those factors that stood in the way of progress. While there are few projects of this type for the late nineteenth century, and fewer still for the New South, the findings challenge the notion of farmers as overly conservative consumers and call into question traditional views of conspicuous consumption as a key indicator of wealth and status.
Before the age of Industrial Revolution, the great Asian civilisations - whether located in the Middle East, India, South-East Asia, or the Far East - constituted areas not only of high culture but also of advanced economic development. They were the First World of human societies. This 1985 book examines one of the driving forces of that historical period: the long chain of oceanic trade which stretched from the South China Sea to the eastern Mediterranean. It also looks at the natural complement of the seaborne commerce, its counterpart in the caravan trade. Its main achievement is to show how socially determined demand derived from cultural habits and interpretations operated through the medium of market forces and relative prices. It points out the unique and limiting features of Asian commercial capitalism, and shows how the contribution of Asian merchants was valued universally, in reality if not legally and formally. Professor Chaudhuri's book, based on more than twenty years' research and reflection on pre-modern trade and civilisations, was a landmark in the analysis and interpretation of Asia's historical position and development.
In 2010 Spain ranked second among EU-15 countries in the manufacture of passenger cars; however, in 1950 the country’s car production had been purely symbolic. Taking as its starting point the trajectories of the enterprises that have shaped the auto industry in Spain, this study explores the sector’s process of development within the interpretative framework proposed by Alfred D. Chandler in Scale and Scope. Until the mid-1970s, SEAT and FASA-Renault, the sector’s first-movers, maintained their position as industry leaders. The entry of Ford and GM in the 1970s was to restructure the industry as it shifted its focus towards exportation to the European Economic Community. Both market share and net profits are used as indicators of the evolution of each car maker.
We examine the relationship between prices and interest rates for seven advanced economies in the period up to 1913, emphasising the UK. There is a significant long-run positive relationship between prices and interest rates for the core commodity standard countries. Keynes ([1930] 1971) labelled this positive relationship the ‘Gibson Paradox’. A number of theories have been put forward as possible explanations of the paradox but they do not fit the long-run pattern of the relationship. We find that a formal model in the spirit of Wicksell (1907) and Keynes ([1930] 1971) offers an explanation for the paradox: where the need to stabilise the banking sector's reserve ratio, in the presence of an uncertain ‘natural’ rate, can lead to persistent deviations of the market rate of interest from its ‘natural’ level and consequently long-run swings in the price level.