The Disney Middle Ages

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Carmen M. Reinhart, Kenneth S. Rogoff

Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much--or how little--we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur. - Publisher.

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James Masschaele

Peasants, Merchants, and Markets deals with the development of regional networks of trade and social interaction in the two centuries before the Black Death, a period that saw dynamic changes in relations between towns and their rural hinterlands. By examining the economic interests of urban merchants and peasant traders, the commodities they exchanged, and the markets and transportation networks they used to engage in trade, the book explores how commerce helped to erode the localism of medieval society and to create enduring institutions and motivations for a more expansive social and economic life. The book offers original interpretations and original use of historical source material and will be of interest to scholars and students of medieval and English history, as well as historians dealing with commercial development in other periods and places.

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Clé Lesger

"Most scholars agree that during the sixteenth century, the centre of European international trade shifted from Antwerp to Amsterdam, presaging the economic rise of the Dutch Republic in the following century. Traditionally this shift has been accepted as the natural consequence of a dynamic and progressive city, such as Amsterdam, taking advantage of expanding commercial opportunities at the expense of a more conservative rival hampered by outmoded medieval practices. Yet, whilst this theory is widely accepted, is it accurate? In this groundbreaking study, Clé Lesger argues that the shift of commercial power from Antwerp to Amsterdam was by no means inevitable, and that the highly specialized economy of the Low Countries was more than capable of adapting to the changing needs of international trade. It was only when the Dutch Revolt and military campaigns literally divided the Low Countries into separate states that the existing stable spatial economy and port system fell apart, and a restructuring was needed. Within this process of restructuring the port of Amsterdam acquired a function radically different to the one it had prior to the division of the Netherlands. Before the Revolt it had served as the northern outport in a gateway system centred on Antwerp, but with access of that port now denied to the new republic, Amsterdam developed as the main centre for Dutch shipping, trade and - crucially - the exchange of information. Drawing on a wide variety of neglected archival collections (including those of the Bank of Amsterdam), this study not only addresses specific historical questions concerning the commercial life of the Low Countries, but through the case study of Amsterdam, also explores wider issues of early modern European commercial trade and economic development."--

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Ronaldo Munck

"The 'century of marxism' is over but, as French political philosopher Jacques Derrida has put it, 'There will be no future without Marx.' This apparent paradox is the underlying theme of this book. It is not yet another exercise in marxology or, for that matter, in demonology. Rather, it engages critically and imaginatively with Marx's own treatment of what are now key issues - underdevelopment, gender, culture, sustainability. It also examines in a sober way the experience of the self-proclaimed socialist societies in relation to the same topics."--BOOK JACKET.