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Questions tagged [economics]

The academic discipline that studies the economy. Questions using this tag ask about the history of thought concerning the economy, or how state administrators use economics in order to manage the economy. Questions about the economy itself should use the "economy" tag.

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2answers
128 views

When has the U.S. refused to pay its debts?

In the late 1700s the U.S. refused to pay a large debt to France for money loaned during the American Revolution. (In this instance Congress decided. I do not know if the President had the ability ...
10
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1answer
205 views

How did old international loans work?

On June 11, 1782, John Adams secured a much needed loan for the new Republic from Holland. How exactly did this work in the days of strictly paper currency? What did it mean to loan internationally ...
2
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2answers
176 views

What portion of the finance industry was British prior to WWI?

It's sometimes stated that Britain was the financial capital of the world prior to the First World War, and that it took extraordinary war spending like that in the Great War to shift the capital to ...
30
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2answers
5k views

Did any British working class men have the vote before 1918?

I was watching the film Suffragette recently and she mentioned her husband having the vote. I thought he looked too poor to already have the vote, but this didn't look like a film to just ignore ...
7
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2answers
444 views

When did Northern India and N. China begin to dominate in global demographics?

Video: Human Population Through Time This simple video says that there were 170 million people in the world at the beginning of the current era. Each dot represents a million people -there are about ...
19
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1answer
5k views

Was the British Army a millionaire factory in the early 20th century?

I'm reading "Kenya Diary" by Richard Meinertzhagen where he relates his experiences as a junior officer in the British army around 1902. At one point he states that during his 5 year service in East ...
0
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1answer
391 views

In 1947, how many Reichsmarks would 1 U.S. dollar buy?

What was the 1947 value of 7,200 Reichsmarks in U.S. dollars? What was the 1947 exchange rate of the U.S. dollar for the Reichsmark?
2
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3answers
737 views

Did German soldiers receive pay after the Allied invasion?

The German war machine was well organized, the logistics were quite accurate and I can only imagine that they also were quite on time with wages payment before the Allied invasion in France. My ...
8
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2answers
503 views

In historical slave societies, what jobs were left over for poor free laborers?

And what laws or institutions sprang up to deal with them? Slaves have the effect of depressing wages for poor workers. If this has been a universal, I'm curious whether slave-owning cultures have ...
5
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1answer
106 views

Was every man compelled to follow his father's occupation in ancient Egypt?

Adam Smith wrote that in ancient Egypt: every man was bound by a principle of religion to follow the occupation of his father, and was supposed to commit the most horrid sacrilege if he changed it ...
2
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1answer
125 views

Why did Indonesia use a separate currency for West Irian before 1973?

In 1963, Indonesia took control of Western New Guinea (formerly a Dutch colony whose status was separated from the rest of Indonesia/Dutch East Indies since 1949), and renamed it West Irian. One ...
3
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2answers
387 views

What was Income Disparity like in the Middle Ages of Europe?

I was looking up the income disparity today. What I got for America, was Food service could get as little as $18,000 annual income, while Lawyers got paid $140,000, surgeons $320,000, and Bill Gates ...
8
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1answer
154 views

Class-conscious, non-Marxist historiographies

Marxist historiography focuses on social class and economics forces, and assumes an inexorable trend towards socialist revolution. What kind of historiography shares the concern about class ...
4
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1answer
336 views

What was the relationship between slaves and poor Romans needing jobs in Rome's labour market?

In ancient Rome's labour market, what was the relationship between slaves and Romans who needed jobs to survive (wage slaves)? What market forces determined the jobs done by slaves versus those done ...
3
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2answers
522 views

Was there an embargo of Soviet gold in 1932, and was grain the primary exportable good?

In this article, the author and leader of "The Great Fatherland Party" Nikolai Starikov, claims one of the causes of the Holodomor may have been that the USSR was unable to export anything other than ...
3
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0answers
70 views

Is there historically a clear connection between a better economy and a freer market? [closed]

Where as a better economy is defined as higher GDP per capita. And the ''freedom'' of a market is decided by the amount of taxes.
37
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2answers
4k views

How did the American Civil War help the U.S economy recover from the Panic of 1857 given that civil wars are extremely destructive?

From the Wikipedia article on the Panic of 1857: Beginning in September 1857, the financial downturn did not last long; however, a proper recovery was not seen until the American Civil War. ...
5
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3answers
378 views

Did the U.S economy flourish after national debt was eliminated by President Andrew Jackson in 1835?

President Andrew Jackson totally eliminated U.S national debt in 1835. Did the U.S economy boom in the aftermath of debt elimination as a result of not being shackled by debt? Was it good economic ...
6
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2answers
3k views

How did life change for the average American as a result of the end of World War 1?

Every year, the Daughters of the American Revolution host an essay contest concerning American History. I'll disclose that I'm not a student seeking internet help with the essay, but rather just ...
5
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1answer
223 views

What is the first example of a nation where the first railroad network system was somebody's master plan?

The background is that I try to understand how complex socioeconomic systems based on a technology mix came in place and how they evolve today. So I thought of an example, and picked railroads. If I ...
2
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2answers
1k views

“America is the richest country in the history of the world” — Would a historian consider this true? [closed]

Bernie Sanders recently described the United States as "the richest country in the history of the world," to make a point about income inequality. I understand that this was meant as a rhetorical ...
12
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1answer
522 views

Was the European slave market in the East during the colonial era similar to the transatlantic slave market? If not (less brutal, etc), why?

As far as I understand it, European colonialist powers did have a slave market in the East, in the Indian Ocean. That is, there was this market as well as the Transatlantic slave market[1-3]. What I ...
11
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2answers
11k views

History of Corn in Europe

In "The Wealth Of Nations", Adam Smith discusses the price of corn in ancient times. Apparently, books such as "Chronicon Preciosum: or An Account of English Money, the Price of Corn and Other ...
2
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0answers
140 views

What is the impact of 18th to 19th century colonialism on the live of the common people of the colonial empires

This topic suddenly came to me when I was doing my homework. I went online to search but most of the articles only talked about the impacts on the country or place that was being colonized. According ...
5
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1answer
97 views

Did S. Korea choose petroleum refining as part of WW2 reconstruction?

I just noticed (on Wikipedia) that S. Korea has 3 and the 6 largest oil refineries in the world. That does not make sense. So, was exporting the derivatives of crude oil (gasoline / kerosene / jet ...
4
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2answers
697 views

Why didn't Mao see that the “Great Leap Forward” would be such a disaster?

I've been reading about Mao Zedong and I heard about his Great Leap Forward. I read that it ended up splitting families apart and causing a massive economic crash. Why didn't Mao Zedong see this would ...
8
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1answer
1k views

What was the median price for a slave child in the Augustan Rome?

Just for example, 8 years old boy or 9 years old girl. So, not a newborn baby or toddler (no need for extended expenses for dedicated child-rearing nannies, wet nurses, etc.), but still too small to ...
3
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1answer
70 views

What were pre-internet stock books called?

I listened to a podcast recently where someone described looking up quarterly business and stock reports in a big book at the library in the days before the Internet. What were these books called? I'd ...
6
votes
1answer
304 views

What demographic of people were the Ford Motor's Company biggest customers during the car boom of the early twentieth Century?

Who were the primary customers buying up the automobiles steadily decreasing in cost during the 20th century? Was it rural people replacing horses with vehicles? Would it have been inner city people ...
1
vote
1answer
361 views

How did the sale of rum affect the demographics of Africa?

A history book I'm reading says "The sale of rum had a great impact on Africa's demographics", but doesn't go into details -- so I'm curious as to what this could mean.
6
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2answers
220 views

What were the factors behind the lowest AAA corporate interest rate in U.S bond history during 1946?

https://www.quandl.com/data/MOODY/AAAYLD-Aaa-Corporate-Bond-Yield The lowest AAA corporate bond yield in U.S history happened in 1946 based on the quandl chart above. Amazingly, it was even lower ...
5
votes
1answer
593 views

Did the US government ever burn corn?

I remember hearing and/or reading that the US government burned corn (or destroyed it) at some point. This was not because there was anything wrong with the corn, but rather because by buying it they ...
1
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1answer
178 views

How would British counterfeiting efforts in the revolutionary war have inflated the American currency? [closed]

During the revolutionary war one of the British's espionage tactics was to flood the American market with counterfeit currency to cause mass runaway inflation. But how would that have worked? I don't ...
3
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1answer
677 views

Nazi-Germany unemployment?

It's said that the unemployment was virtually non-existent in Nazi Germany. What factors led to such a drastic reduction of unemployment? Are there comparable examples of other industrial nations ...
1
vote
1answer
321 views

Which country/empire was the dominant hegemon for the longest time? [closed]

Say the USA has been the worlds most dominant power for 75 years. Before that one could argue the British Empire during the Victorian era, approx 1810 to 1915, was the world dominant power. Other ...
4
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2answers
671 views

Effects of the Berlin Wall on modern-day Germany [closed]

The Berlin Wall had pretty strong effects on the German states at the time it was built, and right after it fell, but what are its continuing economic effects on contemporary Germany? I know there are ...
8
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2answers
468 views

What were factors that led to a decline in bond yields during World War II given that the opposite should have happened?

Huge financing is required for wars. World War II was the largest-scale war in human history. Therefore, the large borrowing should have led to a rise in bond yields. Amazingly, bond yields dropped ...
3
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1answer
231 views

Did an English company famous for its hidden purpose in the 1720s ever reveal its undertaking?

The Wikipedia article for the South Sea Company says that: "Among the many companies to go public in 1720 is - famously - one that advertised itself as 'a company for carrying out an undertaking of ...
-5
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1answer
137 views

Is there a historical reason for a pattern of worse technological standards beating out better ones? [closed]

Here are some examples of technological standards: • Dvorak versus Qwerty keyboards. Qwerty won despite yielding lower word-per-minute rates of average users. • Betamax vs VHS. VHS won despite the ...
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2answers
1k views

Germany's “Economic Miracle” [closed]

I heard, but cannot verify, that some economists call what Hitler did for Germany's economy an "economic miracle." This claims (my emphases): Hitler's Economic MiracleThe real reason for World War ...
3
votes
1answer
182 views

How many electric light companies operated in New York in 1887?

ConEdison's History page says: By 1900, there were more than 30 companies generating and distributing electricity throughout the boroughs of New York City and in Westchester County. I'm skeptical ...
-1
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2answers
90 views

What is it called when a Corporation purchases the rights to something to prevent it's production, to increase profit [closed]

What is it called, when a Large Business or Corporation sees that some product, invention, or medicine will destroy or reduce the size of their market or consumer base; and they either purchase the ...
6
votes
3answers
4k views

What is the current U.S. monetary standard? [closed]

Despite my greatest efforts, I could not find any information about what standard the U.S. is using at this time. Apparently, we used to be on a gold standard. What about now? Do we even have a ...
6
votes
1answer
129 views

Keynesian economics during his era

Nowadays in politics, critics of Keynesian economics say it is unsustainable spending. However, I know that John Maynard Keynes actually said budgets should be balanced in the medium term, just not ...
4
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2answers
2k views

What was the reason for US Fed rate increase in spring 1928?

I was reading this wikipedia article on the great depression of the 1930s. This timeline mentions that in 1928, USA Fed increased interest rates. What was the reason behind this move. I read ...
5
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3answers
965 views

How did an input of resources in 16th century Spain contribute to inflation?

My history book claims that the flow of Silver from the New World to Spain in the 16th century contributed to an inflation. However, that seems very unintuitive. How could gaining resources lead to a ...
5
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1answer
85 views

Quesnay, Adam Smith, and Pitt

I am now reading the book Decadent Societies by R.M. Adams and on pp.66-7 he writes: Quesnay's ideas, which fell on stony ground in France, showed their basic vitality when picked up by Adam ...
3
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1answer
136 views

Where did the profits for the founders of the Bank of England come from?

Royal assent was given for the formation of the Bank of England, in part, to help pay for the Nine Years' War (1688-97) with France in 1694. The founding of the Bank and, and in effect, the loan it ...
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2answers
3k views

What factors led to the 30% devaluation of pound sterling in 1949?

In 1949, Britain devalued the pound sterling by 30%. This was a major world economic event given that the pound was and still is one of the major currencies in the world. In fact, 9 other countries ...
6
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3answers
2k views

What were the factors that led to stagflation in the United States during the 1970s?

Economics teaches that faster economic growth leads to higher inflation and slower economic growth leads to lower inflation. In the 1970s, United States suffered high inflation and slow economic ...