This paper explores the economic policy of the Ottoman Empire during the Abdul Hamid II's reign and the Young Turks period focusing on the fiscal crisis which exposed the Empire to an increasing financial dependence on European capital markets, leading to bankruptcy in 1876 and to the subsequent...

This paper studies the causes and consequences of political centralization and fragmentation in China and Europe. We argue that the severe and unidirectional threat of external invasion fostered political centralization in China while Europe faced a wider variety of smaller external threats and...

The rise of factor markets during the transition from the middle ages into the early modern was of crucial importance for long term economic growth. The transmission of property through the market however remains understudied, especially in the Southern Low Countries. In this paper we construct...

The recent work by E. Felice, Perché il Sud è rimasto indietro, il Mulino, Bologna, 2013, is rather a pamphlet than a book of economic history. In the present article, we discuss both the statistical series of regional GDP from 1871 until 2001 worked out by Felice (section 1), and the...

The general stream of economic thinking is thoroughly a-physical and a-historic. This direction is becoming increasingly absurd as the nexus between the human biomass and its ecological constraints ripens. Economics will eventually have to absorb apodictically that regardless of...

What sets the Azorean banking system apart in the Portuguese context is the concentration of Caixas Económicas or Savings Banks accounting for half of these financial institutions in Portugal.These saving banks were promoted and had as shareholders mainly small and medium local traders and...

This paper presents interesting correlations which exist between a model of long-wave economic activity and crisis in the United States – “the Political Economy wave” – and the structure of the rings of Saturn, one of the most confounding structures known to science. At the present time...

We focus on four previous systemic financial crises that the United States has experienced since 1870. These include the crisis of 1873 (called the Great Depression until the 1930s), the 1893 crisis, the panic of 1907, and the Great Depression. Given that all of the earlier crises predate the...

We describe Hayek's position on taxation and its subsequent developments. Hayek defends the proportional tax system. If a majority rule corrects deviations from political power must also restrict the conditions of progressive taxation. According to Hayek the progressive tax system (SFP) violates...

Abstract The United Nations Conference on Trade and Development (UNCTAD) recently organised a Workshop in the Philippines, of trade and industry officials from Asia and Pacific countries. The Workshop had a timely purpose: to identify trading opportunities and adjustment strategies to benefit...