Economy refers to the management, distribution, usage, and affairs of resources related to a particular group of people, or entities. Questions about economies, or economic history will cover the how and why a particular resource, or state of production occurred in a certain way.

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Has a state ever “attacked” another one by printing fake money?

Has any state ever performed an "economic attack" against another state, by printing fake money of the victim's currency? Or, is it known if someone ever considered doing it, and which were the ...
24
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1answer
828 views

Did the end of the British Raj in India create an economic loss for Britain?

I know the economic downturn of the World War and the victory of the Labour Party played some role in Britain deciding to quit India. Did GB have any serious economic implications because of this? ...
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4answers
6k views

How did Nazi Germany finance itself during WW2?

How did Nazi Germany finance itself during the war? They produced a large amount of war material during 1939-1945, but how was this production financed? What were Germany's revenue streams that ...
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2answers
1k views

Where did the Romans store their cash?

In the era before banking was invented, where did wealthy Romans store their cash? The emperor probably could store it somewhere in the imperial palace thanks to the Praetorian guard, but what about ...
20
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3answers
410 views

First evidence for replacement of barter trade by local abstract currency?

What were the first local currency systems in history we have detailed information on? I dont think it was gold/silver or other hard to produce materials. Probably these became more important ...
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4answers
193 views

How would you accurately use older British currencies when writing a story?

For writing a story set in Napoleonic Wars era, how should one use the currencies accurately? I read in novels they use currencies like shilling, pound, guinea, sovereign, four (or six-, etc) pence, ...
17
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2answers
760 views

Has mercantilism ever been successful?

Mercantilism, which includes protectionism, industrial policy, capital controls, and other distortions to trade, is generally viewed by economists today as unsound economic policy. An overwhelming ...
16
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1answer
270 views

What were tally sticks?

What were tally sticks, and how was it that they they worked for the economy? I understand that they were a form of currency and were of fixed value based on the notches, but how did they work as a ...
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1answer
29k views

What was the economic impact of WW1 on USA's economy?

It's well known that WW2 had a greatly positive impact on American economy. Up to the point of certain historians being sure that, if not for WW2, FDR would have had a major economic problems on his ...
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4answers
815 views

Was the Roman Empire based on a 'plunder economy'?

It has been stated by Arnold J. Toynbee and James Burke that: The economy of the Empire was a Raubwirtschaft or plunder economy based on looting existing resources rather than producing anything ...
14
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1answer
396 views

How do Friedman and Bernanke's explanations about the causes of the Great Depression compare?

I know that both Friedman and Bernanke wrote papers (or books, in Friedman's case) about the cause of the Great Depression. How do their points of view compare and contrast?
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2answers
2k views

Gap between poor and rich in the Roman Empire

Was the difference in purchasing power between the poor and the wealthy in the Roman Empire, greater than or less than than the difference between rich and poor people in modern western economies? ...
12
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2answers
361 views

Why did the British not introduce the sterling in India?

The question is about the adoption of currency during imperialist rule. Why did the British persist with the local currency, the rupee? What impediments did the British face in implementing the ...
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1answer
183 views

How did the existence of the Alps impact the development of Switzerland?

Can anyone tell me what was the role of Alps and Alpine region in Swiss development of Switzerland?
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1answer
4k views

What was the actual value of tea destroyed during the Boston Tea Party?

I'd like to know 2 or 3 of the following 3 metrics: Actual value in the currency of the time (yes I realize that there were local currencies and in general FX concept was... hard to do). NPV ...
11
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3answers
1k views

Did anyone warn about the potential for stock market crashes in 1929, and if so why were their warnings ignored?

I can't seem to find information about economists, or others, warning about the overheated stock market of the 1920s in the US that would culminate in the stock market crashing on Black Thursday, ...
11
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2answers
599 views

What were the operating principles of Japan's MITI during the 1950s and 60s?

Japan's Ministry of International Trade and Industry (MITI) guided Japan's economy through two decades of unprecedented economic growth. MITI was the primary instrument of Japan's industrial policy, ...
10
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5answers
446 views

What was the worst economic crisis of all times?

I am interested in reading about the worst economic crisis of all times. By that I mean the largest reduction in GDP over a period of at least a year. The economic crisis should not have been caused ...
10
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3answers
661 views

Gold Confiscation Act of 1933

On March 9, 1933 Franklin D. Roosevelt (FDR) called Congress in for an emergency session, which would result in the speedy passing of the Gold Confiscation Act. According to FDR's Executive Order ...
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1answer
134 views

What were the factors that aided Margaret Thatcher in her victory against the trade unions when her predecessors failed?

Industrial strife has often been cited as a major reason for weakness in the British economy during the 1970s. For much of the 1970s, UK politics appeared to be a battle between the government and the ...
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2answers
146 views

Buying/Renting/Leasing houses during history?

I was wondering about something. After the last financial crisis, many people have talked about not buying a house, but renting one, and they made it sound like a "new" idea. So what was it like ...
10
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2answers
288 views

Approximately what was the short-term economic loss to Britain as a result of the Revolutionary War being lost?

Is there any research that shows what the economic impact was to the British economy stemming from the 13 Colonies obtaining independence? It could be either a narrower estimate of purely tax losses ...
9
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2answers
168 views

Are there instances where collective farming has actually brought benefit to the population

I was reading a few articles about population growth and famines and thereby discovered that some of the recent famines where caused by government policies, among which I read at least twice (USSR and ...
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2answers
1k views

Why is Alexander Hamilton considered the father of modern banking?

I've been hearing the phrase recently that Alexander Hamilton is considered the "father of modern banking", but haven't really come up with any explanation or definition that I can really understand ...
9
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1answer
182 views

What historical situation is comparable to what Europe is currently facing?

I know that this question might get closed, but I will try it, nevertheless. The reason why I am so interested in broad comparisons of historical situations with current ones, is because I believe ...
9
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2answers
537 views

How was beer production affected by the war during WW2?

How did the war affect beer production during World War II? This is a follow-up question to this question at Seasoned Advice, which is gathering interesting food-science answers but which are are ...
8
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7answers
315 views

First evidence of intercontinental or cross-cultural trade?

Probably this happened several times and maybe even failed and broke up in different regions. What hints and proofs do we have of the earliest succesful intercontinental trade relations? I assume ...
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4answers
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What did Germany do after World War II to recover so successfully that it became more prosperous than its WW2 victors?

Germany lost in World War II. Being the loser, its economy started at a disadvantage compared to her World War II victors in the aftermath of WW2. However, Germany managed to recover more ...
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3answers
648 views

How did New York become the financial hub of America?

Why did New York become the financial hub of America, rather than one of the other big cities?
8
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2answers
114 views

What is the meaning of “£10 per cent” in the early 19th century in relation to a wage (30/- fortnight)

Reading Hammond and Hammond (1919) The Skilled labourer I came across the expression of £10% in the quoted primary sources, ie, at 34: The Duke of Northumberland wrote to the H.O. on May 26 that work ...
8
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1answer
136 views

What surface area per person is required for hunter-gatherers?

I am sure I have read it somewhere, but I can't figure out in which book anymore (I think Steve Pinker's How the Mind Works) Most of human (pre-)history (and evolution) has happened in a foraging ...
8
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0answers
209 views

How much of an impact did the Roman emperors' civil wars have on their decision to debase the coinage?

From Adrian Goldsworthy's How Rome Fell: "Civil war remained a common event, ...the economy collapsed, as successive emperors massively devalued the coinage to pay for their wars." Other sources say ...
7
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3answers
930 views

How much has U.S. currency inflated since 1792?

How much has U.S. currency inflated since the Coinage Act of 1792 established the U.S. Mint? Adjusting for inflation, what amount of modern currency would have the same buying power as a 1792 dollar? ...
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5answers
264 views

Is there a link between national debt/trade deficit and starting a war?

I saw in an article mentioning that there is a link between national debt and starting wars I don't recall where I've seen it mentioned to look for further references on the matter. Are there known ...
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6answers
270 views

Has scholarship shown that persecuted religious minorities have tended to be financially successful?

In this interview with Neal Stephenson, talking about the historical basis for his Baroque Cycle series of novels, he makes the remark that ... persecuted religious minorities, if they’re not ...
6
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2answers
2k views

Were the British Over-Taxing their 13 American Colonies?

The British levied several taxes on the American Colonists (13), which were at least part of the reason for the American Revolution. Were the British taxing the 13 colonies for more money than was ...
6
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3answers
1k views

What was the reason for inflation in Britain after the Black Death?

According to the Wikipedia article Ordinance of Labourers 1349 During this outbreak [of Black Death], an estimated 30-40% of the population died. The decline in population left surviving workers ...
6
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1answer
193 views

What was more expensive to lose in a gladiatorial fight: a gladiator or a rare animal?

We know that, aside from man-to-man combat, gladiatorial fights would often pit human gladiators against wild animals. Is there any documented historical evidence that would show what was a bigger ...
6
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1answer
3k views

Which have been the most and least successful Olympics in terms of economic impact?

When discussing the Olympics, politicians are always keen to stress the economic benefits that will flow to the host city. A number of commentators in the media though have suggested that the bulk of ...
6
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1answer
119 views

Where can I find detailed accounts of cash-less payment in medevial and ancient times?

In his book "Debt: The first 5000 Years" David Graeber writes that during most of the middle ages and antiquity coins were seldom used in day-to-day dealings, at least of the more rural population. He ...
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1answer
220 views

Examples of censorship causing economic decline

I am writing a blog post about knowledge banning, either by state censorship or by self-imposed censorship, like the US Comics Code Authority of the 20th century. My focus is moral censorship, ...
6
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2answers
164 views

Did Demosthenes complain about inflation of prices in philippics?

Did Demosthenes complain about inflation of prices in his philippics caused by Philip II of Macedon's extensive gold mining? I have heard it somewhere but I can not find any refference.
6
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1answer
216 views

What are the social preconditions for division of labour, when compared in different emerging civilizations?

I would like to know if historians/economists/sociologists agree on the preconditions required for division of labour in ancient and/or earlier societies. Are there any common preconditions and ...
5
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3answers
1k views

How has Chinese GDP as a percentage of world GDP changed over time and why?

I've heard it's 33% during the Qing dinasty. 4% during cultural revolution. Now it's climbing up steadily to 11%. Where can I see the table of those actually tracking those numbers? What were the ...
5
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2answers
284 views

Were natural resources a primary reason for invading Romania during the middle ages-present?

When I was in school in Romania I remember my history teacher saying that historically Romania has seen a lot of invaders (referring mainly from the middle ages-present) because it used to have a lot ...
5
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2answers
576 views

How rich were carpenters in the Roman province of Iudaea in the 1st century AD?

According to the Biblical account, Jesus was the son of a carpenter, Joseph of Nazareth (Matthew 13,55). Apparently carpenters were not among the wealthy. Be that as it may, how rich could a ...
5
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2answers
401 views

Did Roosevelt's New Deal lift the U.S. out of the depression or did it actually prolong the Depression and cripple American capitalism? [closed]

While the New Deal did much to lessen the worst affects of the Great Depression, its measures were not sweeping enough to restore the nation to full employment. Critics of FDR's policies, on ...
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3answers
159 views

What containers were used for food prior to the industrial era?

Today, when you go shopping, most of the food are kept in plastic or paper containers (or tin can). What types of containers were used to sell, transport and keep the food before plastic ? and ...
5
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2answers
349 views

Were soldiers in the World Wars paid?

There have always been professional soldiers however during the world wards there were vast conscription to encourage young men to join up for "King and Country". Presumably there was some sort of ...
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3answers
389 views

Does History confirm that prosperity, capitalism, and some form “democracy” or representative republican form of government always go hand in hand?

Many historians, politicians and economists find a link between the economic success of a nation and its form of government. For example, the idea that the USA's form of government was responsible ...