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The government's review of sub-national economic development and regeneration: key issues

Pike, Andy; Tomaney, John
Fonte: Spatial Economics Research Centre (SERC), London School of Economics and Political Science Publicador: Spatial Economics Research Centre (SERC), London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /09/2008 EN; EN
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105.62%
We are now in the midst of another concerted attempt by Government to make sense of and tidy up the sub-national governance of economic development and regeneration. This is a challenging task made all the more difficult by being undertaken in a UK context following a period of uneven devolutionary change and cross-cut by new and existing scales of institutions and spatial policies at the sub-regional, city-regional, regional and pan-regional levels as well as the economic slowdown. The current endeavour has taken the form of the Review of Sub-National Economic Development and Regeneration led by HM Treasury, Department for Business, Enterprise and Regulatory Reform and the Communities and Local Government department and the consultation Prosperous Places: Taking Forward the Review of Sub National Economic Development and Regeneration (hereafter SNR). We recognise that SNR is emergent 'policy-in-the-making', containing some potentially radical steps for government across a range of geographical levels, and represents a laudable attempt to establish a clearer framework replete with challenging opportunities for RDAs, local authorities and other existing and emergent spatial institutions. Our purpose here is to raise some key issues for debate and reflection as part of the process of addressing sub-national economic development and regeneration policy and governance.

In search of the 'economic dividend' of devolution: spatial disparities, spatial economic policy and decentralisation in the UK

Pike, Andy; Rodríguez-Pose, Andrés; Tomaney, John; Torrisi, Gianpiero; Tselios, Vassilis
Fonte: Spatial Economics Research Centre (SERC), London School of Economics and Political Sciences Publicador: Spatial Economics Research Centre (SERC), London School of Economics and Political Sciences
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /10/2010 EN; EN
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105.63%
After a decade of devolution and amid uncertainties about its effects, it is timely to assess and reflect upon the evidence and enduring meaning of any ‘economic dividend’ of devolution in the UK. Taking a multi-disciplinary approach utilising institutionalist and quantitative methods, this paper seeks to discern the nature and extent of any ‘economic dividend’ through a conceptual and empirical analysis of the relationships between spatial disparities, spatial economic policy and decentralisation. Situating the UK experience within the historical context of its evolving geographical political economy, we find: i) a varied and uneven nature of the relationships between regional disparities, spatial economic policy and decentralisation that change direction during specific time periods; ii) the role of national economic growth is pivotal in explaining spatial disparities and the nature and extent of their relationship with the particular forms of spatial economic policy and decentralisation deployed; and, iii) there is limited evidence that any ‘economic dividend’ of devolution has emerged but this remains difficult to discern because its likely effects are over-ridden by the role of national economic growth in decisively shaping the pattern of spatial disparities and in determining the scope and effects of spatial economic policy and decentralisation.

Economic, political, and institutional prerequisites for monetary union among the members of the Gulf Cooperation Council

Buiter, Willem H.
Fonte: London School of Economics and Political Science Research Publicador: London School of Economics and Political Science Research
Tipo: Conference or Workshop Item; PeerReviewed Formato: application/pdf
Publicado em 31/12/2007 EN; EN
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105.63%
The paper reviews the arguments for and against monetary union among the six members of the Gulf Cooperation Council - the United Arab Emirates, the State of Bahrain, the Kingdom of Saudi Arabia, the Sultanate of Oman, the State of Qatar and the State of Kuwait. Both technical economic arguments and political economy considerations are discussed. I conclude that there is an economic case for GCC monetary union, but that it is not overwhelming. The lack of economic integration among the GCC members is striking. Without anything approaching the free movement of goods, services, capital and persons among the six GCC member countries, the case for monetary union is mainly based on the small size of all GCC members other than Saudi Arabia, and their high degree of openness. Indeed, even without the creation of a monetary union, there could be significant advantages to all GCC members, from both an economic and a security perspective, from greater economic integration, through the creation of a true common market for goods, services, capital and labour, and from deeper political integration. The political arguments against monetary union at this juncture appear overwhelming, however. The absence of effective supranational political institutions encompassing the six GCC members means that there could be no effective political accountability of the GCC central bank. The surrender of political sovereignty inherent in joining a monetary union would therefore not be perceived as legitimate by an increasingly politically sophisticated citizenry. I believe that monetary union among the GCC members will occur only as part of a broad and broadly-based movement towards far-reaching political integration. And there is little evidence of that as yet.

History and industry location: evidence from German airports

Redding, Stephen; Sturm, Daniel.M; Wolf, Nikolaus
Fonte: Centre for Economic Performance, London School of Economics and Political Science Publicador: Centre for Economic Performance, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /07/2007 EN; EN
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105.64%
A central prediction of a large class of theoretical models is that industry location is not necessarily uniquely determined by fundamentals. In these models, historical accident or expectations determine which of several steady-state locations is selected. Despite the theoretical prominence of these ideas, there is surprisingly little systematic evidence on their empirical relevance. This paper exploits the combination of the division of Germany after the Second World War and the reunification of East and West Germany as an exogenous shock to industry location. We focus on a particular economic activity and establish that division caused a shift of Germany’s air hub from Berlin to Frankfurt and there is no evidence of a return of the air hub to Berlin after reunification. We develop a body of evidence that the relocation of the air hub is not driven by a change in economic fundamentals but is instead a shift between multiple steady-states.

Seven centuries of European economic growth and decline

Fouquet, Roger; Broadberry, Stephen
Fonte: American Economic Association. Publicador: American Economic Association.
Tipo: Article; PeerReviewed Formato: application/pdf
Publicado em //2015 EN; EN
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105.68%
This paper investigates very long run pre-industrial economic development. New annual GDP per capita data for six European countries over the last seven hundred years paint a clearer picture of the history of European economic development. First, the paper confirms that sustained growth has been a recent phenomenon, but rejects the argument that there was no long run growth in living standards before the Industrial Revolution. Instead, the evidence demonstrates the existence of numerous periods of economic growth before the nineteenth century - unsustained, but raising GDP per capita. It also shows that many of these economies experienced substantial economic decline. Thus, rather than being stagnant, pre-nineteenth century European economies experienced a great deal of change. Finally, it offers some evidence that, from the nineteenth century, these economies increased the likelihood of being in a phase of economic growth and reduced the risk of being in a phase of economic decline.

Famine, suicide and photovoltaics: narratives from the Greek crisis

Knight, Daniel M.
Fonte: Hellenic Observatory, London School of Economics and Political Science Publicador: Hellenic Observatory, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /02/2013 EN; EN
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95.71%
The Greek crisis has become the most eminent example of neoliberal economic meltdown over the past five years. In towns across Greece people try to come to terms with drastic changes in their everyday lives and grapple with the the complex mixture of politics, economy, history and culture that informs crisis experience. This paper addresses recurring themes in crisis narratives from the town of Trikala, central Greece, within the context of local history and economy. Narratives condense historical experience, fashion forms of cultural proximity and facilitate polytemporality. As people recall the era of ciftliks (great estates), the Great Famine of 1941-43, and the stock market collapse they construct a sphere of collective suffering and solidarity based on adversity whilst simultaneously critiquing economic systems. Historical events significantly inform present crisis experience in Trikala, adding local nuances to national and global problems. Three prominent themes can be identified in daily narratives that help locals comprehend the socioeconomic hardship: famine, suicide and colonisation. these recurrent themes form the bases for collective suffering, encouraging solidarity in the face of socioeconomic turmoil. In narrative...

A critical survey of recent research in Chinese economic history

Deng, Kent
Fonte: London School of Economics and Political Science Research Publicador: London School of Economics and Political Science Research
Tipo: Article; PeerReviewed Formato: application/pdf
Publicado em /02/2000 EN; EN
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105.67%
China is a resilient dinosaur. In contrast with so many other great empires in Eurasia – the Egyptian, Roman, Byzantine, Arabian, Ottoman and Tsarist-Soviet – China has the longest history. The Empire kept expanding until the mid-nineteenth century when it practically reached the physical limits for a predominantly agrarian economy. The size and wealth of the Chinese economy, the variety of its produce and the degree of commercialisation and urbanisation made China one of the most popular international trading destinations from Roman times. With the rise of the opium trade in the early nineteenth century, however, the Chinese economy has been severely impoverished at least in relative terms. In response, since the 1870s, the Chinese sought to rescue their civilisation by adopting a wide range of foreign examples in social engineering for social experiments and reforms. Nevertheless, China's per capita GDP is still very low despite its political influence in the world since the 1970s. It is justifiable to view China as a case of growth failure in the recent centuries. The study of Chinese economic history has the same age as China's modern history itself. The field has been led and dominated by the West. Scholarly attempts have been made since the turn of this century to explain China's premodern success and its downfall after the Opium War. Two approaches can be identified: the 'Sinological approach' which refers to China only and the 'comparative method' which compares China with the West. The former tries to find out what achievements China managed to make and when and how it made them and the latter seeks to understand why premodern China was not industrialised.

Book review: The clash of economic ideas: the great policy debates and experiments of the last hundred years

Postel-Vinay, Natacha
Fonte: London School of Economics and Political Science Publicador: London School of Economics and Political Science
Tipo: Website; NonPeerReviewed Formato: application/pdf
Publicado em 22/04/2013 EN; EN
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95.7%
The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting economic ideas have originated and developed over time to take their present forms. It aims to trace the connections running from historical events to debates among economists, and from the ideas of academic writers to major experiments in economic policy. This is an ambitious and largely successful attempt at a big-picture overview of decades of debates and experiments in economic policymaking, writes Natacha Postel-Vinay.

State building and the original push for institutional change in China, 1840-1950

Deng, Kent
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /02/2004 EN; EN
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105.7%
The period of 1840 (when the Opium War broken out) till now is commonly regarded as China’s modern era, ‘modern’ in terms of China’s departure from its original growth and developmental path. In this context, the term modern has been intimately associated with something alien to the Chinese indigenous culture and pattern. There are several distinctive features for this period of 150 years (1840–1990). First, China did not begin with zero or primitivism. Up to c. 1800, China also produced roughly a third of the world total manufacturing output, ahead of the West (about 20 percent of the world total) by a significant 10 percent in the world total. In around 1830, China still matched the West reasonably comfortably. However, there was a dramatic change after 1840. In 1900, China’s share of manufacturing output declined to 6 per cent while the share of the West shot up to 77 per cent. Second, unmistakably changes during this period began with external shocks in the form of force majeure from the newly industrialised/industrialising modern powers. Table 1 contains main events marked by treaties between those powers and Qing China. Just about all such powers were actively involved. Third, changes in China during this period were both frequent and often extreme with the direction shifting from time to time. It all began with the Nanking Treaty Reform (1842) which opened the floodgate for foreign powers to move in China and dismantle institutional barriers for China’s domestic market in the strict classical and neo-classic sense. Fourth...

Travelling with the GDP through early development economics’ history

Speich, Daniel
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /09/2008 EN; EN
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95.75%
In the vast body of development theoretical knowledge one element has been of a considerable longevity: the abstraction of a Gross Domestic Product to represent a given economic entity. This paper suggests approaching the history of development thinking by travelling with the GDP through this discourse. The GDP has been contested as an indicator of economic development ever since it was first put to use in the 1940s. However, the specific mode of knowledge which is expressed in this abstraction has opened up a quite universally shared frame of reference in which a North-South-Divide became operational. The paper argues that GDP figures have become facts that travel easily across the globe because constant work is being undertaken to uphold the conditions for their mobility. Based on this observation the development endeavour can be located historically in a manifold constellation of the statistical acquisition of economic insight, political utopia, state intervention, the emerging prospect of economic planning in capitalist and noncapitalist systems and the quest for the international standardization of economic knowledge production.

‘Voice’ and the facts and observations of experience

Morgan, Mary S.
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /07/2008 EN; EN
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105.65%
The facts of social sciences are ones that stem from scientific expertise, but in the social world, everyone is their own expert. Everyone lives in society, and experiences either first-hand, or closely second-hand, the same phenomena that social scientists investigate. Consequently, people are not only the subjects of scientific investigation, but are themselves amateur reflexive scientists: observing and making sense of their own experiences in social and economic affairs, And, in a democratic community, such personal experience claims a legitimate place in knowledge discussions. These two qualities mean that the observations from personal experience can not be so lightly dismissed by the social scientist, in the same way as the traditional observations of folk-lore can be trumped by the facts of scientific knowledge in the natural sciences. Yet, these facts of personal experience may not travel easily, for the possibilities of voicing that experience depend in part on the nature of the social science involved and in part on the civic epistemology of the environment within which they can be expressed. The considerations which underlie the successful articulation of experienced knowledge suggest that “voice” differs from both “engagement” and “understanding” as a way to characterize public participation in social science – as opposed to natural science – knowledge discussions.

Mapping poverty in Agar Town: economic conditions prior to the development of St. Pancras Station in 1866

Swensen, Steven P.
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /06/2006 EN; EN
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95.75%
In 1866, the Midland Railway Company demolished Agar Town, an area Victorian writers called the foulest slum in London, to make way for the development of St Pancras railway station. Most Londoners lauded the action. But what kind of tenants actually inhabited the area before it was destroyed, and were they really as foul a populace as recorded? While it is impossible to recreate the exact conditions under which the people of Agar Town lived, it can be shown that the households were more complex than earlier accounts suggest. This paper employs census data and contemporary interviews to reconstruct the earnings and overall income available to households within the displaced area. This information is used to produce a visual representation of economic conditions within the lost streets of Agar Town, based upon Charles Booth’s 1889 Descriptive Map of London Poverty.

The economic history of sovereignty: communal responsibility, the extended family, and the firm

Boerner, Lars; Ritschl, Albrecht
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /10/2008 EN; EN
Relevância na Pesquisa
105.68%
Economic institutions encompassing increasingly sophisticated concepts of risk-sharing and liability flourished in Europe since the High Middle Ages. These innovations occurred in an environment of fragmented local jurisdictions, not within the framework of the territorial state. In this short paper we attempt to sketch a unifying approach towards the interpretation of the emergence of these institutions. We argue that communal responsibility in medieval city states created incentives for excessive risk-taking by individual merchants, and that the emergence of firms mitigated this problem. We also find that entity shielding in the sense of Hansmann et al. (2006) arose endogenously and is not primarily the result of regulation by local authorities.

The Jesuits as knowledge brokers between Europe and China (1582-1773): shaping European views of the Middle Kingdom

Millar, Ashley E.
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /09/2007 EN; EN
Relevância na Pesquisa
105.68%
Europe in the sixteenth and most of the seventeenth century was engulfed in a wave of Sinophilia. However, by the eighteenth century a dramatic shift in the popular view of China in Europe occurred and Sinophobic writings began to dominate. The primary scholarly argument about the causes behind this shift in perceptions maintains the transformation stemmed predominantly from changes in European history, particularly, economic growth and political consolidation. This paper asks how the motives, the roles and the consequences of the Jesuits as agents of information regarding China affected the European perception of the Middle Kingdom and contributed to the evolution of Orientalism. It examines the evolution of the Jesuit mission in China, the role of personal motivation and problems surrounding conceptual and practical barriers to the construction and transmission of information. It finds that economic progress and political consolidation in Europe did result in a changing of perspectives on the nature of the Empire of China. However, this shift did not occur solely due to endogenous changes in Europe, but was also a result of the creation of the one-dimensional image of China by the Jesuits according to their personal motivations and unique context.

Universal banking failure?: an analysis of the contrasting responses of the Amsterdamsche Bank and the Rotterdamsche Bankvereeniging to the Dutch financial crisis of the 1920s

Colvin, Christopher Louis
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /03/2007 EN; EN
Relevância na Pesquisa
105.65%
Whilst in some financial systems in the early twentieth century commercial and investment banking activities were carried out by functionally separate firms, in others both kinds of operation were conducted under one roof by “universal banks”. Explaining the evolutionary paths that lead to these divergent banking structures has remained a hot topic of multidisciplinary debate for many years. So has their respective exposure to financial crises. On the one hand, universal banks – which hold both long- and short-term assets – are able to reduce information asymmetries and internalise risk. But on the other hand, their mixed asset structure arguably decreases versatility during an economic downturn and may create a “dual market for lemons” in which information asymmetries cause financially sound clients and banks to exit the market, leaving only the riskier crisis-prone ones behind. This paper analyses these debates using the case study of the Netherlands in the early 1920s. The literature argues that it is during this decade that the Netherlands experienced her one and only traditional banking crisis from 1600 to the present day, and after which her short-lived experiment with a system of universal banking came to an end. By calculating an equity-deposit ratio panel for the Big Five Dutch banks...

Business culture and entrepreneurship in the Ionian Islands under British rule, 1815-1864

Gekas, Sakis
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /03/2005 EN; EN
Relevância na Pesquisa
105.65%
This paper explores the emergence of a business culture among merchants and entrepreneurs in the Ionian Islands during the period of British rule (1815-1864). New forms of business organisation (the joint-stock company), and novel commercial practices, such as advertising, represent examples of institutional but also cultural change. The petitions of merchants, submitted to the central administration, demonstrate the specific strategies used to pursue commercial interests. The changes introduced during the period of British rule, continuing long-established relations with western economic powers, and the existence of a multi-cultural business world in the port towns of the islands advanced the business opportunities for the merchants resident there (foreigners or nationals) but also advanced the integration of the Ionian Islands to the wider Mediterranean and world market. The Ionian Islands case provides an opportunity to look at the formation of networks and institutions through the articulation and promotion of interests by merchants. The paper proceeds as follows; theoretical and historiographical influences are acknowledged and clarified first while the aspects of institutional change and the new forms of business organisation are presented afterwards. These are followed by examples of petitions submitted by merchants on commercial issues...

The globalisation of codfish and wool: Spanish-English-North American triangular trade in the early modern period

Grafe, Regina
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /02/2003 EN; EN
Relevância na Pesquisa
105.68%
This paper analyses the transformation of two of the staple trades of the pre-modern international economy –those in wool and dried codfish– during the transition from the late medieval to the early-modern period. The development of early modern long-distance trade was subject to three major constraints: transport, balance of payments problems leading to bilateralism and the lack of credit markets. Economic history has concentrated in particular on the first of these. By contrast this paper provides new data for the wool and fish trades that create the basis for an in depth analysis of how balance of payments problems and credit restrictions could be minimised. We show that the integration of these two very different commodity trades was a clear strategy to overcome these constraints. Their integration in turn led to a de-monopolisation of pre-existing commercial networks and transformed both the supply and distribution networks of both goods. Finally, the paper analyses resulting alterations of the economic geography of these trades.

The nature and linkages of China's tributary system under the Ming and Qing dynasties

Andornino, Giovanni
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /03/2006 EN; EN
Relevância na Pesquisa
95.7%
The current landscape of Global History literature appears dominated by a rather asymmetrical dichotomy between Eurocentric analyses of the cumulative emergence of the West and global history which reduces the significance of this transition by blending it into very long-term perspectives. This ‘synecdoche syndrome’ – whereby a part and the whole are often equated and compared – belies the real nature of human history, which, up to the XIX century at least, was grounded in the presence of a plurality of coexisting world-systems. Each of these systems revolved around a multilayered cultural, economic and political relationship between centre(s) and peripheries. It is through both a synchronic and diachronic comparative study of such systems that the theory of structural systemic transformations may be refined. This essay contributes to this endeavour by offering an exploration of what can be considered as the architrave of the pre-modern East Asian world, namely the tributary system established by the Chinese Empire. The complex set of policies that regulated the implementation and supported that system represent the most consistent world-system in human history, spanning two millennia despite several systemic breakdowns. The achievement was rendered possible by a foreign policy which will be interpreted here as a peculiar form of ethnocentric centripetal hegemony. Especially during the Ming and Qing dynasties...

Economists writing history: American and French experience in the mid 20th century

De Rouvray, Cristel Anne
Fonte: London School of Economics and Political Science Thesis Publicador: London School of Economics and Political Science Thesis
Tipo: Thesis; NonPeerReviewed Formato: application/pdf
Publicado em //2005 EN
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95.73%
If one considers the fortunes of economic history in the 20th century U.S., the 1940s, 50s and 60s stand out as a particularly vibrant time for the field and economists’ contributions to it. These decades saw the creation of the main association and journals - the Economic History Association, the Journal of Economic History for example – and the launching of large research programs – Harvard’s history of entrepreneurship, Simon Kuznets’ retrospective accounts, cliometrics for example. Why did American economists write so much history in the decades immediately following WWII, and why and how did this change with cliometrics? To answer these questions I use interviews with scholars who were active in the mid 20th century, their publications and archival material. The bulk of the analysis focuses on the U.S., yet it relies in part on a comparison with France where economic history also experienced a golden period at this time, though it involved few economists. Instead it was the domain of Annales historians. This comparison sheds light on the ways in which the labels “economist” and “historian” changed meaning throughout the period of study. Economists’ general interest for history is best understood as a part of an ongoing debate on scientific method...

The effects produced by economic changes upon social life in England in the fifteenth century

Abram, Annie
Fonte: London School of Economics and Political Science Thesis Publicador: London School of Economics and Political Science Thesis
Tipo: Thesis; NonPeerReviewed Formato: application/pdf
Publicado em //1909 EN
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95.76%
The fifteenth century was not marked by an epochmaking catastrophe, like the one which preceded it, or glorified by an outburst of literary activity, like that which followed; but it was none the less a most critical period in the history of the nation. Momentous events took place in the spheres of industry and commerce, which shaped its destiny in future days. England had hitherto depended largely upon her neighbours in these matters, but at this time she began to be conscious of her own powers, and entered upon the career, which she has never since quitted. Industrial development caused great changes in social life; it introduced new ideas, trained new faculties, and brought into prominence men who had been of little account in the past, and thereby it overthrew old modes of thought and old institutions. A century is, however, an arbitrary division of time, and the origin of some of the changes which swept over England in the fifteenth century may be found in the fourteenth. Other changes were not fully accomplished until long after the fifteenth century had reached its close, and they, in their turn, exercised a great influence upon conditions of life in the sixteenth century. Economic environment is only one of the many forces which mould social life ; religion...