Adam Smith, Wealth of nations, Books I–III, ed. Andrew Skinner (London: Penguin Classics, 2003), p 508.

See, for example, Albert O. Hirschman, The passion and the interests: political arguments for capitalism before its triumph (Princeton, NJ: Princeton University Press, 1977); Milton L. Myers, The soul of modern economic man: ideas of self-interest – Thomas Hobbes to Adam Smith (Chicago: University of Chicago Press, 1984); Istvan Hont, Jealousy of trade: international competition and the nation state in historical perspective (Cambridge, MA: Belknap, 2005); more recently, Koji Yamamoto, Taming capitalism before its triumph: public service, distrust, and ‘projecting’ in early modern England (Oxford: Oxford University Press, 2018). For historical perspectives on the role and nature of economic regulation, see, for example, Steven L. Kaplan, The stakes of regulation: perspectives on bread, politics and political economy forty years later (London: Anthem, 2015), pp 116–18; and for important changes during the age of Enlightenment, Steven L. Kaplan and Sophus A. Reinert (eds), The economic turn: recasting political economy in Enlightenment Europe (London: Anthem, 2019). An authoritative new survey of Enlightenment thought and capitalism through the lens of a protagonist can be found in Margaret Schabas and Carl Wennerlind (eds), David Hume’s political economy (Abingdon: Routledge, 2005); Margaret Schabas and Carl Wennerlind, A philosopher’s economist: Hume and the rise of capitalism (Chicago: University of Chicago Press, 2020); see also Margaret Schabas, The natural origins of economics (Chicago: University of Chicago Press, 2007), p 18; Christopher J. Berry, The idea of commercial society in the Scottish Enlightenment (Edinburgh: Edinburgh University Press, 2015), Ch. 7, esp. pp 198–201. From a philosophical viewpoint, see Lisa Herzog, Inventing the market: Smith, Hegel, and political theory (Oxford: Oxford University Press, 2013). Regarding continental visions of Enlightenment political economy, see Ere Nokkala and Nicholas B. Miller (eds), Cameralism and the Enlightenment: happiness, governance, and reform in transnational perspective (Abingdon: Routledge, 2020).

Quentin Skinner, ‘Ambrogio Lorenzetti’s Buon Governo frescoes: two old questions, two new answers’, Journal of the Warburg and Courtauld Institutes 62 (1999), 1–28; Sophus A. Reinert, Translating empire: emulation and the origins of political economy (Cambridge, MA: Harvard University Press, 2011), Introduction (esp. pp 5–8).

Schabas and Wennerlind, A philosopher’s economist, Introduction. The concept has been applied to earlier authors, such as William Temple; see a PhD dissertation defended at the European University Institute by Juha Haavisto, William Temple’s political and economic thought: a restauration view of [the] consequences of human nature (2022); for Italy, see Sophus A. Reinert, The academy of fisticuffs: political economy and commercial society in Enlightenment Italy (Cambridge, MA: Harvard University Press, 2018).

A common confusion reduces mercantilism to rogue economic nationalism and ‘zero-sum’ games; see, for example, Albert O. Hirschman, National power and the structure of foreign trade (Berkeley: University of California Press, 1945); or, more recently, Joel Mokyr, The enlightened economy: an economic history of Britain 1700–1850 (New Haven, CT: Yale University Press, 2009), Ch. 4. But see Moritz Isenmann (ed), Merkantilismus? Wiederaufnahme einer Debatte (Stuttgart: Franz Steiner, 2014); Philip J. Stern and Carl Wennerlind (eds), Mercantilism reimagined: political economy in early modern Britain and its empire (New York: Oxford University Press, 2014), Introduction, pp 3–22; Lars Magnusson, The political economy of mercantilism (Abingdon: Routledge, 2015). Earlier classics include Gustav von Schmoller, The mercantile system and its historical significance (New York: Macmillan, [1884] 1902); Eli F. Heckscher, Der Merkantilismus, 2 vols, transl. G. Mackenroth (Jena: Fischer, 1931); Jacob Viner, Studies in the theory of international trade (London: Allen & Unwin, 1937); essays collected in Donald C. Coleman (ed), Revisions in mercantilism (London: Methuen, 1969).

Paul Bairoch, Economics and world history: myths and paradoxes (Chicago: University of Chicago Press, 1995); Donald Sassoon, The anxious triumph: a global history of capitalism, 1860–1914 (London: Penguin, 2020); Eric Helleiner, The neomercantilists: a global intellectual history (Ithaca, NY: Cornell University Press, 2021); for a deeper history, see Sophus A. Reinert and Robert Fredona, ‘Political economy and the Medici’, Business History Review 94:1 (2020), 125–77, special issue on ‘Italy and the origins of capitalism’.

Friedrich List, Das nationale System der politischen Ökonomie (Stuttgart: Cotta, 1841), chapter on ‘The Italians’; historicizing of List’s work, see Hont, Jealousy of trade; Alexander Hamilton, Report on the subject of manufactures (Philadelphia, 1791); a new collection of essays: Harald Hagemann, Stephan Seiter and E. Wendler (eds), The economic thought of Friedrich List (Abingdon: Routledge, 2019).

James Steuart, Principles of political oeconomy (London: Millar and Cadell, 1767), Book I, p 150; Deborah Redman, ‘Sir James Steuart’s statesman revisited in light of the continental influence’, Scottish Journal of Political Economy 43:1 (1996), 48–70; Ramón Tortajada (ed), The economics of James Steuart (London: Routledge, 2002); Anthony Brewer, ‘James Steuart (James Denham-Steuart) (1712–1780)’, in Gilbert Faccarello and Heinz D. Kurz (eds), Handbook on the history of economic analysis (Cheltenham: Edward Elgar, 2016), Vol I, pp 54–6.

Keith Tribe, ‘Polizei, Staat und die Staatswissenschaften bei J.H.G. von Justi’, in Bertram Schefold (ed), Vademecum zu einem Klassiker des Kameralismus: Johann Heinrich Gottlob von Justi, Grundsätze der Policey-Wissenschaft (Düsseldorf: Verlag Wirtschaft und Finanzen, 1993), pp 107–40. Steuart also had encounters with French economic thought known as ‘Physiocracy’.

Edinburgh University Library, CC MS 2291/2, Memoirs of the Life of Sir James Steuart-Denham of Coltness & Westshields Baronet, p 42.

There are many possible conceptualizations and definitions of capitalism, which is a fundamentally contested concept; some would even argue that it is not a helpful construct at all. The literature is massive now; major recent syntheses and surveys include Larry Neal and Jeffrey G. Williamson (eds), The Cambridge history of capitalism, 2 vols (Cambridge: Cambridge University Press, 2015); Jürgen Kocka, Capitalism: a short history (Princeton, NJ: Princeton University Press, 2016); Kaveh Yazdani and Dilip Menon (eds), Capitalisms: towards a global history (New Delhi: Oxford University Press, 2020); Catherine Casson and Philipp Robinson Rössner (eds), Evolutions of capitalism: historical perspectives, 1200–2000 (Bristol: Bristol University Press, 2022).

Patrick O’Brien, ‘The nature and historical evolution of an exceptional fiscal state and its possible significance for the precocious commercialization and industrialization of the British economy from Cromwell to Nelson’, Economic History Review 64:2 (2011), 408–46; Patrick O’Brien, ‘The formation of states and transitions to modern economies: England, Europe, and Asia compared’, in Neal and Williamson (eds), The Cambridge history of capitalism, I, pp 357–402, at 363–4; Steven Pincus and James A. Robinson, ‘Faire la guerre et faire l’État: Nouvelles perspectives sur l’essorde l’État développementaliste’, Annales 71:1 (2016), 5–35.

Prasannan Parthasarathi, Why Europe grew rich and Asia did not: global economic divergence, 1600–1850 (Cambridge: Cambridge University Press, 2011); William J. Ashworth, The Industrial Revolution: the state, knowledge and global trade (London: Bloomsbury, 2017).

Georg von Schanz, Englische Handelspolitik gegen Ende des Mittelalters, mit besonderer Berücksichtigung des Zeitalters der beiden ersten Tudors, Heinrich VII. und Heinrich VIII, 2 vols (Leipzig: Duncker & Humblot, 1881); Reinert and Fredona, ‘Political economy and the Medici’; Kent Deng, ‘One-off capitalism in Song China, 960–127 ce’, in Yazdani and Menon (eds) Capitalisms: towards a global history, pp 227–50.

See, for example, Robert C. Allen, ‘The spread of manufacturing’, in Neal and Williamson (eds), The Cambridge history of capitalism, II, pp 22–46.

Mariana Mazzucato, Mission economy: a moonshot guide to changing capitalism (New York: Harper Collins, 2021).

Erik S. Reinert, ‘The role of the state in economic growth’, Journal of Economic Studies 26:4/5 (1999), 268–326; reprinted and revised as Ch. 2 in Erik S. Reinert, The visionary realism of German economics: from the Thirty Years’ War to the Cold War, ed. Rainer Kattel (London: Anthem, 2019).

List, Das nationale System der politischen Ökonomie. For historical applications to British industrialization, see Parthasarathi, Why Europe grew rich; Peer Vries, ‘Governing growth: a comparative analysis of the role of the state in the rise of the West’, Journal of World History 13:1 (2002), 67–138; Peer Vries, State, economy and the great divergence: Great Britain and China, 1680s–1850s (London: Bloomsbury, 2015). Intellectual histories of the infant industry argument are discussed in Reinert, Visionary realism; Hont, Jealousy of trade; Reinert, Translating empire; Rosario Patalano and Sophus A. Reinert (eds), Antonio Serra and the economics of good government (Basingstoke: Palgrave Macmillan, 2016); and essays in Philipp Robinson Rössner (ed), Economic growth and the origins of modern political economy: economic reasons of state, 1500–2000 (Abingdon: Routledge, 2016).

Skinner, ‘Ambrogio Lorenzetti’s Buon Governo frescoes’.

For the German peasant wars, which also evolved around the issue of bad money and coin debasement, tax conflicts and undue rent extractions, see Philipp Robinson Rössner, Deflation – Devaluation – Rebellion: Geld im Zeitalter der Reformation (Stuttgart: Franz Steiner, 2012), Ch. 4. For a general overview, see Jack A. Goldstone, Revolution and rebellion in the early modern world (Berkeley: University of California Press, 1993).

But not into Harold James, The war of words: a glossary of globalization (New Haven, CT: Yale University Press, 2021).

Peter B. Evans, Dietrich Rueschemeyer and Theda Skocpol (eds), Bringing the state back in (Cambridge: Cambridge University Press, 1999).

O’Brien, ‘The nature and historical evolution’; Ashworth, The Industrial Revolution; Parthasarathi, Why Europe grew rich; Vries, ‘Governing growth’; Vries, State, economy and the great divergence; Norris A. Brisco, The economic policy of Robert Walpole (New York: Columbia University Press, 1907), Ch. 6 (‘The industrial policy’), upon which has drawn Ha-Joon Chang, Kicking away the ladder: development strategy in historical perspective (London: Anthem, 2003).

Most recent surveys, weighing the state’s role against other factors, include Peer Vries, Escaping poverty: the origins of modern economic growth (Vienna: Vienna University Press/Göttingen: V&R unipress, 2013); Mark Koyama and Jared Rubin, How the world became rich: the historical origins of economic growth (Cambridge: Polity, 2022).

For early modern Germany, see Reinert, Visionary realism; British, French and German debates are captured in Hont, Jealousy of trade; Reinert, Translating empire. On 17th- and 18th-century Sweden, see Carl Wennerlind, ‘The political economy of Sweden’s Age of Greatness: Johan Risingh and the Hartlib Circle’, in Rössner (ed) Economic growth and the origins of modern political economy, pp 156–86; Carl Wennerlind, ‘Atlantis restored: natural knowledge and political economy in early modern Sweden’, American Historical Review, forthcoming.

Jean-Laurent Rosenthal and Roy Bin Wong, Before and beyond divergence: the politics of economic change in China and Europe and Wong (Cambridge, MA: Harvard University Press, 2011); John V.C. Nye, War, wine, and taxes: the political economy of Anglo-French trade, 1689–1900 (Princeton, NJ: Princeton University Press, 2018); Mokyr, Enlightened economy.

Reinert, Visionary realism; Mazzucato, Mission economy; Rainer Kattel and Mariana Mazzucato, ‘Mission-oriented innovation policy and dynamic capabilities in the public sector’, Industrial and Corporate Change 27:5 (2018), 787–801.

Erik S. Reinert and Arno M. Daastøl, ‘The other canon: the history of Renaissance economics’, in Erik S. Reinert (ed), Globalization, economic development and inequality: an alternative perspective (Cheltenham: Edward Elgar, 2007), pp 21–70; a paper quoted in Joel Mokyr, A culture of growth: the origins of the modern economy (Princeton, NJ: Princeton University Press, 2018).

Jack A. Goldstone, ‘Efflorescences and economic growth in world history: rethinking the “rise of the West” and the Industrial Revolution’, Journal of World History 13:2 (2002), 323–89; Gregory Clark, A farewell to alms: a brief economic history of the world (Princeton, NJ: Princeton University Press, 2007).

Koyama and Rubin, How the world became rich.

For example, Kenneth Pomeranz, The great divergence: China, Europe, and the making of the modern world economy (Princeton, NJ: Princeton University Press, 2000); Robert C. Allen, The British Industrial Revolution in global perspective (Cambridge: Cambridge University Press, 2009).

For example, Douglass C. North, Understanding the process of economic change (Princeton, NJ: Princeton University Press, 2005); Avner Greif, Institutions and the path to the modern economy: lessons from medieval trade (Cambridge: Cambridge University Press, 2006); Deirdre N. McCloskey, The bourgeois virtues: ethics for an age of commerce (Chicago: University of Chicago Press, 2006); Avner Greif and Guido Tabellini, ‘Cultural and institutional bifurcation: China and Europe compared’, American Economic Review 100:2 (2010), 135–40; Mokyr, Enlightened economy; Mokyr, Culture of growth; Deirdre N. McCloskey, Bourgeois dignity: why economics can’t explain the modern world (Chicago: University of Chicago Press, 2010); Deirdre N. McCloskey, Bourgeois equality: how ideas, not capital or institutions, enriched the world (Chicago: University of Chicago Press, 2016).

For example, Eric Jones, The European miracle: environments, economies and geopolitics in the history of Europe and Asia, 3rd edn (Cambridge: Cambridge University Press, 2003); Philip T. Hoffman, Why did Europe conquer the world? (Princeton, NJ: Princeton University Press, 2015); Rosenthal and Wong, Before and beyond divergence.

Parthasarathi, Why Europe grew rich; Vries, ‘Governing growth’; Vries, State, economy and the great divergence.

Roy Bin Wong, China transformed: historical change and the limits of European experience (Ithaca, NY: Cornell University Press, 1997); Andre Gunder Frank, ReORIENT: global economy in the Asian age (Berkeley: University of California Press, 1998). A different scope is in Victor Lieberman, Strange parallels: Southeast Asia in global context, c.800–1830, vol 2: mainland mirrors: Europe, Japan, China, South Asia, and the islands (Cambridge: Cambridge University Press, 2009).

Especially Wong, China transformed; Pomeranz, Great divergence; works that consider the role of the state but mainly as a provider of institutions supporting markets and economic exchange.

For example, Lisbet Koerner, Linnaeus: nature and nation (Cambridge, MA: Harvard University Press, 2001); Fredrik Albritton Jonsson, ‘Climate change and the retreat of the Atlantic: the cameralist context of Pehr Kalm’s voyage to North America 1748–51’, William and Mary Quarterly 72:1 (2015), 99–126; Carl Wennerlind, ‘The magnificent spruce: Anders Kempe and anarcho-cameralism in Sweden’, History of Political Economy 53:3 (2021), 425–41.

Albion W. Small, The cameralists: the pioneers of German social polity (Chicago: University of Chicago Press, 1909); Kurt Zielenziger, Die alten deutschen Kameralisten: Ein Beitrag zur Geschichte der Nationalökonomie und zum Problem des Merkantilismus (Jena: G. Fischer, 1914); Magdalene Humpert, Bibliographie der Kameralwissenschaften (Cologne: Kurt Schröder, 1937).

For example, Mokyr, Enlightened economy, Ch. 4; Agnar Sandmo, Economics evolving: a history of economic thought (Princeton, NJ: Princeton University Press, 2011).

Paul Warde, ‘Sustainability, resources and the destiny of states in German cameralist thought’, in K. Forrester and S. Smith (eds), Nature, action and the future: the environment in political thought (Cambridge: Cambridge University Press, 2018), pp 43–69.

Otto Brunner, Werner Conze and Reinhart Koselleck (eds), Geschichtliche Grundbegriffe: Historisches Lexikon zur politisch-sozialen Sprache in Deutschland, 8 vols (Stuttgart: Klett Cotta, 1972–97); Reinhart Koselleck, Historische Semantik und Begriffsgeschichte (Stuttgart: Klett-Cotta, 1979); Ernst Müller and Falko Schmieder, Begriffsgeschichte und historische Semantik: ein kritisches Kompendium, 2nd edn (Frankfurt-am-Main: Suhrkamp, 2019); Margrit Pernau and Dominic Sachsenmaier (eds), Global conceptual history: a reader (London: Bloomsbury, 2020).

As partes pro toto: Hont, Jealousy of trade; Quentin Skinner, The foundations of modern political thought, 2 vols (Cambridge: Cambridge University Press, 1978).

Joseph A. Schumpeter, History of economic analysis (New York: Oxford University Press, 1954).

Karl Pribram, A history of economic reasoning (Baltimore, MD: Johns Hopkins University Press, 1986).

Mark Blaug, Economic theory in retrospect, 5th edn (Cambridge: Cambridge University Press, 2018).

For example, Brandon Dupont, The history of economic ideas: economic thought in contemporary context (Abingdon: Routledge, 2017), p 2.

Andre Wakefield, ‘Butterfield’s nightmare: the history of science as Disney history’, History and Technology: An International Journal 30:3 (2014), 232–51.

For example, Alessandro Stanziani, Rules of exchange: French capitalism in comparative perspective, eighteenth to early twentieth centuries (Cambridge: Cambridge University Press, 2012).

For example, Lars Magnusson, Mercantilism: the shaping of an economic language (London: Routledge, 1994); Emily Erikson, Trade and nation: how companies and politics reshaped economic thought (New York: Columbia University Press, 2021).

For example, Michael Perelman, The invention of capitalism: classical political economy and the secret history of primitive accumulation (Durham, NC: Duke University Press, 2000).

For example, Bernard Harcourt, The illusion of free markets: punishment and the myth of natural order (Cambridge, MA: Harvard University Press, 2011).

Exceptions include Florian Schui, Early debates about industry: Voltaire and his contemporaries (London: Macmillan, 2005); Magnusson, Mercantilism goes a bit in that direction.

I have borrowed this phrase from Wong, China transformed, a study that pays little attention to either ideas or concepts but defines historical political economy chiefly through politics.

Joel Kaye, Economy and nature in the fourteenth century: money, market exchange, and the emergence of scientific thought (Cambridge: Cambridge University Press, 2004).

For example, Nokkala and Miller, Cameralism and the Enlightenment; Heinz-Gerhard Haupt and Jürgen Kocka (eds), Comparative and transnational history: central European approaches and new perspectives (New York: Berghahn, 2009); Marten Seppel and Keith Tribe (eds), Cameralism in practice: state administration and economy in early modern Europe (Woodbridge: Boydell & Brewer, 2017); Andrew David Edwards, Peter Hill and Juan Neves-Sarriegui, ‘Capitalism in global history’, Past & Present 249:1 (2020), e1–e32, at e9–e13, available from: https://doi.org/10.1093/pastj/gtaa044; Edmond Smith, Merchants: the community that shaped England’s trade and empire, 1550–1650 (New Haven, CT: Yale University Press, 2021).

Michael J. Braddick, State formation in early modern England, c.1550–1700 (Cambridge: Cambridge University Press, 2000); Julian Hoppit, Britain’s political economies: parliament and economic life, 1660–1800 (Cambridge: Cambridge University Press, 2017).

Walter Eucken, Grundsätze der Wirtschaftspolitik, 7th edn (Tübingen: Mohr Siebeck, [1952] 2004), pp 325–50; essays in Stern and Wennerlind, Mercantilism reimagined.

Jacob M. Price, ‘Multilateralism and/or bilateralism: the settlement of British trade balances with “The North”, c.1700’, Economic History Review 14:2 (1961), 254–74; J. Sperling, ‘The international payments mechanism in the seventeenth and eighteenth centuries’, Economic History Review 14:3 (1962), 446–68; David Ormrod, The rise of commercial empires: England and the Netherlands in the age of mercantilism, 1650–1770 (Cambridge: Cambridge University Press, 2003).

See, for example, Kapil Raj, Relocating modern science: circulation and the construction of knowledge in South Asia and Europe, 1650–1900 (Basingstoke: Palgrave Macmillan, 2010); Felicia Gottmann, Global trade, smuggling, and the making of economic liberalism: Asian textiles in France 1680–1760 (Basingstoke: Palgrave Macmillan, 2016); Felicia Gottmann (ed), Commercial cosmopolitanism? Cross-cultural objects, spaces, and institutions in the early modern world (Abingdon: Routledge, 2021).

Helleiner, The neomercantilists.

For example, Steve Murdoch, Network north: Scottish kin, commercial and covert associations in northern Europe 1603–1746 (Leiden: Brill, 2005), pp 242–4; Allan Macinnes, Union and empire: the making of the United Kingdom in 1707 (Cambridge: Cambridge University Press, 2009).

Nikolaus Olaf Siemaszko, Das oberschlesische Eisenhüttenwesen 1741–1860: Ein regionaler Wachstumssektor (Stuttgart: Franz Steiner, 2011); Julian Hoppit, ‘Taxing London and the British fiscal state, 1660–1815’, in Julian Hoppit, Duncan Needham and Adrian Leonard (eds), Money and markets: essays in honour of Martin Daunton (Woodbridge: Boydell & Brewer, 2019).

Helleiner, The neomercantilists, p 4.

Ibid., p 16.

Surveys include David Blackbourn and Geoff Eley, The peculiarities of German history: bourgeois society and politics in nineteenth-century Germany (Oxford: Oxford University Press, 1984); William Hagen, German history in modern times: four lives of the nation (Cambridge: Cambridge University Press, 2012); Helmut Walser Smith, Germany: a nation in its time – before, during, and after nationalism, 1500–2000 (New York: Liveright, 2020).

Joyce Appleby, The relentless revolution: history of capitalism (New York: W.W. Norton, 2011), p 21.

Ellen Meiksins Wood, The pristine culture of capitalism: a historical essay on old regimes and modern states (London: Verso, 1991), p 1; Joseph E. Inikori, ‘The first capitalist nation: the development of capitalism’; in: Yazdani and Menon (eds), Capitalisms: towards a global history, pp 251–72, at p 252. See also Maurice Dobb, Studies in the development of capitalism (London: Routledge, 1947).

For example, Douglass C. North, John J. Wallis and Barry R. Weingast, Violence and social orders: a conceptual framework for interpreting recorded human history (Cambridge: Cambridge University Press, 2009); Pincus and Robinson, ‘Faire la guerre et faire l’État’.

O’Brien, ‘The nature and historical evolution’.

For instance, Neal and Williamson, Cambridge history of capitalism; Martha C. Howell, Commerce before capitalism in Europe, 1300–1600 (Cambridge: Cambridge University Press, 2010). On Dutch political economy in the ‘Golden Age’ and its embeddings within European political economy, see Sophus A. Reinert, ‘Cameralism and commercial rivalry: nationbuilding through economic autarky in Seckendorff’s 1665 Additiones’, European Journal of Law and Economics 19:3 (2005), 271–86; Oscar Gelderblom, The political economy of the Dutch Republic (Farnham: Ashgate, 2009); Arthur Weststeijn, Commercial republicanism in the Dutch Golden Age: the political thought of Johan & Pieter de la Court (Leiden: Brill, 2011).

Roger Fouquet and Stephen Broadberry, ‘Seven centuries of European economic growth and decline’, Journal of Economic Perspectives 29:4 (2015), 227–45; contributions in Joerg Baten (ed), A history of the global economy: 1500 to the present (Cambridge: Cambridge University Press, 2016), esp. the chapter on north-west Europe by J.L. van Zanden; Alexandra M. de Pleijt and Jan Luiten van Zanden, ‘Accounting for the “little divergence”: what drove economic growth in pre-industrial Europe, 1300–1800’, European Review of Economic History 20:4 (2016), 387–409; and the most recent critical contribution to the debate: António Henriques and Nuno Palma, Comparative European institutions and the ‘little divergence’ 1385–1800, CEPR Discussion Paper 14124 (2019).

Summaries in Koyama and Rubin, How the world became rich; Vries, Escaping poverty.

Allen, British Industrial Revolution.

Daron Acemoglu, Simon Johnson and James Robinson, ‘The rise of Europe: Atlantic trade, institutional change, and economic growth’, American Economic Review 95:3 (2005), 546–79.

Markus Cerman, Villagers and lords in Eastern Europe, 1300–1800 (Basingstoke: Palgrave Macmillan, 2011).

Wide in perspective, yet shorthand regarding pre-Smithian ideas, see José Luís Cardoso, ‘The political economy of rising capitalism’, in Neal and Williamson (eds), The Cambridge history of capitalism, I, pp 574–99. More comprehensive overviews – yet not specifically attuned to the political economy of early modern capitalism – can be found in relevant specialist works, for example, Bertram Schefold, Beiträge zur ökonomischen Dogmengeschichte, ed. V. Caspari (Düsseldorf: Verlag Wirtschaft und Finanzen, 2004), now made available in translation: Bertram Schefold, Great economic thinkers from the classicals to the moderns: translations from the series Klassiker der Nationalökonomie (Abingdon: Routledge, 2016) and Bertram Schefold, Great economic thinkers from antiquity to the Historical School: translations from the series Klassiker der Nationalökonomie (Abingdon: Routledge, 2011); Alessandro Roncaglia, The wealth of ideas: a history of economic thought (Cambridge: Cambridge University Press, 2009); Faccarello and Kurz (eds), Handbook on the history of economic analysis, 3 vols.

Ashworth, The Industrial Revolution, p 147.

Karl Acham, Knut Wolfgang Nörr and Bertram Schefold (eds), Erkenntnisgewinne, Erkenntnisverluste: Kontinuitäten und Diskontinuitäten in den Wirtschafts-, Rechts- und Sozialwissenschaften zwischen den 20er und 50er Jahren (Stuttgart: Franz Steiner, 1998); Reinert, Visionary realism; Johannes Burkhardt and Birger P. Priddat (eds), Geschichte der Ökonomie (Frankfurt-am-Main: Deutscher Klassiker, 2009); Lars P. Feld, Ekkehard A. Köhler and Daniel Nientiedt, ‘The German anti-Keynes? On Walter Eucken’s macroeconomics’, Journal of the History of Economic Thought 43:4 (2021), 548–63.

Ephraim Gerhard, Einleitung zur Staats-Lehre (Jena: Meyer, 1716), p 59.

Karl Marx, Das Kapital, I, Postscript 1873.

After Jörg-Peter Findeisen, ‘Zukunftsorientiertes Wirtschaftsdenken in Schwedisch-Pommern’, in Haik Thomas Porada (ed) Beiträge zur Geschichte Vorpommerns: Die Demminer Kolloquien 1985–1994 (Schwerin: Helms, 1997), pp 83–94, at 84.

Friedrich A. Hayek, The road to serfdom (Abingdon: Routledge Classics, 2001), p 21 (first publ. Chicago: University of Chicago Press, 1944).

Hayek, The road to serfdom; Douglas Moggach, ‘Freedom and perfection: German debates on the state in the eighteenth century’, Canadian Journal of Political Science/Revue canadienne de science politique 42:4 (2009), 1003–23, at 1006–9.

On Justi, see various chapters in Reinert, Visionary realism; Ulrich Adam, The political economy of J.H.G. Justi (Oxford: Lang, 2006); Jürgen G. Backhaus (ed), The beginnings of political economy: Johann Heinrich Gottlob von Justi (Boston, MA: Springer, 2009); Xuan Zhao, ‘Public happiness through manufacturing and innovation: the theory of industrialization of Johann Heinrich Gottlob von Justi’, History of Political Economy 53:3 (2021), 461–78. An idiosyncratic interpretation of German cameralism is Andre Wakefield, Disordered police state: German cameralism as science and practice (Chicago: University of Chicago Press, 2009).

For Swedish Pomeranian cameralism, see Jörg-Peter Findeisen, Fürstendienerei oder Zukunftsweisendes unter feudalem Vorzeichen: Wirtschaftspolitische Reformpublizistik in Schwedisch-Pommern zwischen 1750 und 1806 (Sundsvall: Mitthögskolan, 1994), pp 149–56.

One of the earliest uses is in Philip Wilhelm von Hornick (Hörnigk), Oesterreich über alles, wann es nur will (Nuremberg, 1684), now available in English translation (by Keith Tribe) with extended commentary: Philipp Robinson Rössner (ed), Philipp Wilhelm von Hörnigk’s Austria Supreme (if it so wishes) (1684): a strategy for European economic supremacy (London: Anthem, 2018).

Joerg Baten, ‘Southern, eastern and central Europe’, in Baten (ed), A history of the global economy, pp 42–73, at p 46.

William Temple, Observations upon the United Provinces of the Netherlands (London: Maxwell, 1673), pp 212–13; Christopher Close, State formation and shared sovereignty: the Holy Roman Empire and the Dutch Republic, 1488–1696 (Cambridge: Cambridge University Press, 2021).

For example, Acemoglu et al, ‘The rise of Europe’.

Jan de Vries, European urbanization, 1500–1800 (London: Methuen, 1984).

Antoni Mączak and T. Christopher Smout (eds), Gründung und Bedeutung kleinerer Städte im nördlichen Europa der frühen Neuzeit (Wiesbaden: Harrassowitz, 1991); Heinz Schilling, Die Stadt in der Frühen Neuzeit (Berlin: De Gruyter Oldenbourg: 2015).

Wolfgang Stromer von Reichenbach, Oberdeutsche Hochfinanz 1350–1450, 3 vols (Wiesbaden: Steiner, 1970); the flagship work of the German Democratic Republic: Adolf Laube, Max Steinmetz and Günter Vogler, Illustrierte Geschichte der deutschen frühbürgerlichen Revolution, 2nd edn (Berlin [East]: Dietz, 1982); Donald J. Harreld, High Germans in the Low Countries: German merchants and commerce in golden age Antwerp (Leiden: Brill, 2007); Thomas Max Safley, Family firms and merchant capitalism in early modern Europe: the business, bankruptcy and resilience of the Höchstetters of Augsburg (Abingdon: Routledge, 2021).

Philipp Robinson Rössner, Martin Luther on commerce and usury (London: Anthem, 2015); Manfred Straube, Geleitswesen und Warenverkehr im thüringisch-sächsischen Raum zu Beginn der Frühen Neuzeit (Cologne: Böhlau, 2015) provides incontrovertible evidence, from land traffic volumes and frequency, on regional specialization and economic development. A useful primer is also Tom Scott, Society and economy in Germany, 1300–1600 (Basingstoke: Palgrave Macmillan, 2002).

Rolf Kießling, ‘Markets and marketing, town and country’, in Robert Scribner (ed), Germany: a new social and economic history, 1450–1630 (London: Arnold, 1996), pp 145–80.

Ekkehard Westermann, Das Eislebener Garkupfer und seine Bedeutung für den europäischen Kupfermarkt 1460–1560 (Cologne: Böhlau, 1971); Ian Blanchard, International lead production and trade in the ‘Age of the Saigerprozess’ 1460–1560 (Stuttgart: Franz Steiner, 1995).

Captured in the monumental studies by Gustav Schmoller, ‘Zur Geschichte der national-ökonomischen Ansichten in Deutschland während der Reformations-Periode’, Zeitschrift für Gesamte Staatswissenschaft 16:3/4 (1860), 461–716; Wilhelm Roscher, Geschichte der Nationaloekonomik in Deutschland (Munich: Oldenbourg, 1874), pp 54–97.

Klaus Weber, Deutsche Kaufleute im Atlantikhandel 1680–1830: Unternehmen und Familien in Hamburg, Cadiz und Bordeaux (Munich: Beck, 2004); Christine Fertig and Ulrich Pfister, ‘Coffee, mind and body: global material culture and the eighteenth century Hamburg import trade’, in Anne Gerritsen and Giorgio Riello (eds), The global lives of things: the material culture of connections in the early modern world (Abingdon: Routledge, 2016), pp 221–40; Yuta Kikuchi, Hamburgs Ostsee- und Mitteleuropahandel 1600–1800: Warenaustausch und Hinterlandnetzwerke (Göttingen: Vandenhoeck & Ruprecht, 2018); Joseph E. Inikori, ‘Atlantic slavery and the rise of the capitalist global economy’, Current Anthropology 61:S22 (2020), S159–S171.

Christian Kleinschmidt, ‘Weltwirtschaft, Staat und Unternehmen im 18. Jahrhundert: Ein Beitrag zur Protoindustrialisierungsdebatte’, Zeitschrift für Unternehmensgeschichte/Journal of Business History 47:1 (2002), 72–86, at 75–77; Margrit Schulte Beerbühl, Deutsche Kaufleute in London: Welthandel und Einbürgerung, 1600–1818 (Munich: Oldenbourg, 2007); Klaus Weber, ‘Germany and the early modern Atlantic world: economic involvement and historiography’, in Rebekka von Mallinckrodt, Josef Köstlbauer and Sarah Lentz (eds), Beyond exceptionalism: traces of slavery and the slave trade in early modern Germany, 1650–1850 (Berlin: De Gruyter Oldenbourg, 2021), pp 26–56.

Joseph E. Inikori, Africans and the Industrial Revolution in England: a study in international trade and economic development (Cambridge: Cambridge University Press, 2002), p 59; Weber, ‘Germany and the early modern Atlantic world’, p 32.

J.Y.T. Greig (ed), The letters of David Hume (Oxford: Clarendon Press, 1932), as quoted in Tatsuya Sakamoto and Hideo Tanaka (eds), The rise of political economy in the Scottish Enlightenment (London: Routledge, 2003), pp 90–1.

Richard H. Tilly and Michael Kopsidis, From old regime to industrial state: a history of German industrialization from the eighteenth century to World War I (Chicago: University of Chicago Press, 2020).

Ulrich Pfister, ‘The timing and pattern of real wage divergence in pre-industrial Europe: evidence from Germany, c.1500–1850’, Economic History Review 70:3 (2017), 701–29.

Ulrich Rosseaux, Die Kipper und Wipper als publizistisches Ereignis (1620–1626): Eine Studie zu den Strukturen öffentlicher Kommunikation im Zeitalter des Dreißigjährigen Krieges (Berlin: Duncker und Humblot, 2001); Martha White Paas, John Roger Paas and George C. Schoolfield, The Kipper und Wipper inflation, 1619–23: an economic history with contemporary German broadsheets (New Haven, CT: Yale University Press, 2012).

Justus Nipperdey, ‘Von der Katastrophe zum Niedergang. Gewöhnung an die Inflation in der deutschen Münzpublizistik des 17. Jahrhunderts’, in Rudolf Schlögl, Philip R. Hoffmann-Rehnitz and Eva Wiebel (eds), Die Krise in der Frühen Neuzeit (Göttingen: Vandenhoeck & Ruprecht, 2016), pp 233–63.

Findeisen, ‘Zukunftsorientiertes Wirtschaftsdenken in Schwedisch-Pommern’; Koerner, Linnaeus; Hanna Hodacs, ‘Local, universal, and embodied knowledge: Anglo-Swedish contacts and Linnaean natural history’, in Patrick Manning and Daniel Rood (eds), Global scientific practice in an age of revolutions, 1750–1850 (Pittsburgh, PA: University of Pittsburgh Press, 2016), pp 90–104, at p 91.

Albeit Prussia repeatedly engaged in African and East Indian trade ventures, as did the Counts of Hanau, who developed (unsuccessfully), under the guidance of the great alchemist-economist Johann Joachim Becher, a plan to colonize Surinam; Pamela Smith, The business of alchemy: science and culture in the Holy Roman Empire (Princeton, NJ: Princeton University Press, 2016).

Hans-Ulrich Wehler, Deutsche Gesellschaftsgeschichte, Volume I: 1700–1815, 4th edn (Munich: Beck, 2007), pp 53–5. Recently, a similar narrative was adopted in Daron Acemoglu, Davide Cantoni, Simon Johnson and James A. Robinson, ‘The consequences of radical reform: the French Revolution’, American Economic Review 101:7 (2011), 3286–330. Evidence contradicting such simplistic binaries is presented in Cerman, Villagers and lords. Further important studies include Thomas Nipperdey, Deutsche Geschichte: Bürgerwelt und starker Staat, 1800–1866 (Munich: C.H. Beck, 1983); Hagen, German history in modern times; Reinhart Koselleck, Preußen zwischen Reform und Revolution: Allgemeines Landrecht, Verwaltung und soziale Bewegung von 1791 bis 1848 (Munich: Deutscher Taschenbuch Verlag, 1989).

Tilly and Kopsidis, From old regime to industrial state, pp 2–3, and Ch. 1 for population levels and the share of agricultureagrarian in total population. See also Pfister, ‘The timing and pattern of real wage divergence in pre-industrial Europe: evidence from Germany, c.1500–1850’.

James C. Scott, Seeing like a state: how certain schemes to improve the human condition have failed (New Haven, CT: Yale University Press, 1998); applied to early modern Germany, Paul Warde, ‘Cameralist writing in the mirror of practice: the long development of forestry in Germany’, in Seppel and Tribe (eds), Cameralism in practice, pp 111–32; Richard Hölzl, ‘Towards ecological statehood? Cameralism and the human-nature interface in the eighteenth century’, in Nokkala and Miller (eds), Cameralism and the Enlightenment, pp 148–70.

Foundational surveys include Friedrich Lütge, Geschichte der deutschen Agrarverfassung vom frühen Mittelalter bis zum 19. Jahrhundert (Stuttgart: Ulmer, 1963); Cerman, Villagers and lords; Witold Kula, An economic theory of the feudal system: towards a model of the Polish economy 1500–1800 (London: NLB, 1976).

Most recently, Arnd Kluge, Die Zünfte (Stuttgart: Franz Stener, 2012); Sheilagh Ogilvie, Institutions and European trade: merchant guilds, 1000–1800 (Cambridge: Cambridge University Press, 2014); Sheilagh Ogilvie, The European guilds: an economic analysis (Princeton, NJ: Princeton University Press, 2019).

I have discussed this at length in Philipp Robinson Rössner, Freedom and capitalism: mercantilism and the making of the modern economic mind (Cham: Palgrave Macmillan, 2020).

See Rössner, Deflation – Devaluation – Rebellion, esp. Ch. 3 on the politics and management of money and Ch. 4 on the social consequences of badly managed currency.

Authoritative surveys include Heinz Schilling, Das Reich und die Deutschen: Höfe und Allianzen – Deutschland 1648–1763 (Berlin: Siedler, 1989), pp 130–46; Peter H. Wilson, The Holy Roman Empire: a thousand years of European history (London: Allen Lane, 2016), Chs. 8–10, esp. pp 415–21 on imperial structures of governance.

Ingomar Bog, Der Reichsmerkantilismus: Studien zur Wirtschaftspolitik des Heiligen Römischen Reiches im 17. und 18. Jahrhundert (Stuttgart: Fischer, 1959).

Erik S. Reinert and Ken Carpenter, ‘German language economic bestsellers before 1850: also introducing Giovanni Botero as a common reference point of cameralism and mercantilism’, in Rössner (ed), Economic growth and the origins of modern political economy, pp 26–53.

See new data by Nuno Palma, Adam Brzezinski, Yao Chen and Felix Ward, ‘The vagaries of the sea: evidence on the real effects of money from maritime disasters in the Spanish Empire’, CEPR Discussion Paper 14089 (revised 2021).

Marc Raeff, The well-ordered police state: social and institutional change through law in the Germanies and Russia, 1600–1800 (New Haven, CT: Yale University Press, 1983). A recent heterodox interpretation is Mark Neocleous, The fabrication of social order: a critical theory of police power (London: Pluto Press, 2000).

Clemens Kaps, ‘Cores and peripheries reconsidered’, The Hungarian Historical Review 7:2 (2018), 191–221, at 211–15; Mária Hidvegi, ‘Land, people, and the unused economic potential of Hungary: knowledge transfer in the context of cameralism and statistics, 1790–1848’, History of Political Economy 53:3 (2021), 571–94.

Moggach, ‘Freedom and perfection’, p 1006.

Rössner, Freedom and capitalism. A rebuttal of such interpretations also known as Midas Fallacy is in Cosimo Perrotta, ‘Serra and underdevelopment’, in Patalano and Reinert (eds), Antonio Serra and the economics of good government, pp 214–33.

See also Alix Cooper, ‘“The possibilities of the land”: the inventory of “natural riches” in the early modern German territories’, in Margaret Schabas and Neil de Marchi (eds), Oeconomies in the age of Newton (Durham, NC: Duke University Press, 2003), pp 129–53, at 134–5.

For example, José Luís Cardoso and Alexandre Mendes Cunha, ‘Enlightened reforms and economic discourse in the Portuguese-Brazilian empire (1750–1808)’, History of Political Economy 44:4 (2012), 619–42.

For example, Ernest Lluch, ‘Cameralism beyond the Germanic world: a note on Tribe’, History of Economic Ideas 5:2 (1997), 85–99; Adriana Luna Fabritius, ‘Cameralism in Spain. Polizeywissenschaft and the Bourbon reforms’, in Nokkala and Miller (eds), Cameralism and the Enlightenment, pp 245–66.

See Carl Wennerlind, ‘Theatrum Œconomicum: Anders Berch and the dramatization of the Swedish improvement discourse’, in Robert Freedona and Sophus Reinert (eds), The legitimacy of power: new perspectives on the history of political economy (Basingstoke: Palgrave Macmillan, 2018); Wennerlind, ‘The political economy of Sweden’s Age of Greatness’; Koerner, Linnaeus.

Sophus A. Reinert, ‘Northern lights: political economy and the Terroir of the Norwegian enlightenment’, Journal of Modern History 92:1 (2020), 76–115.

Danila E. Raskov, ‘Cameralism in eighteenth-century Russia: reform, translations and academic mobility’, in Nokkala and Miller (eds), Cameralism and the Enlightenment, pp 274–301.

Most recently, Seppel and Tribe, Cameralism in practice; see also the special issue of ‘The political economies of happiness: cameralism, capitalism, and the making of the modern economic mind’, History of Political Economy 53:3 (2021).

On cameralist population theory, see the exhaustive monograph by Justus Nipperdey, Die Erfindung der Bevölkerungspolitik: Staat, politische Theorie und Population in der Frühen Neuzeit (Göttingen: Vandenhoeck & Ruprecht, 2012).

See the classic Reinhart Koselleck, Vergangene Zukunft zur Semantik geschichtlicher Zeiten (Frankfurt-am-Main: Suhrkamp, 1979), Engl. transl. Reinhart Koselleck, Futures past: on the semantics of historical time (New York: Columbia University Press, 2005), with a preface by the translator Keith Tribe; Laurent Baronian, ‘The time-spaces of capitalism: Suzanne de Brunhoff and monetary thought after Marx’, Journal of the History of Economic Thought 43:3 (2021), 420–32; full references in Chapter 2 of this volume.

Findeisen, ‘Zukunftsorientiertes Wirtschaftsdenken in Schwedisch-Pommern’; Lars Magnusson, ‘Comparing cameralisms: the case of Sweden and Prussia’, in Seppel and Tribe (eds), Cameralism in practice, pp 17–38.

Mokyr, Culture of growth.

Jan de Vries, The industrious revolution: consumer behavior and the household economy, 1650 to the present (New York: Cambridge University Press, 2009).

Maxine Berg, Consumers and luxury: consumer culture in Europe 1650–1850 (Manchester: Manchester University Press, 1999); Frank Trentmann, Empire of things: how we became a world of consumers, from the fifteenth century to the twenty-first (London: Penguin, 2017).

Cary J. Nederman, Lineages of European political thought: explorations along the medieval/modern divide from John of Salisbury to Hegel (Washington, DC: Catholic University of America Press, 2009).

Smith, Wealth of Nations, Book II, Ch. 3. On Smith’s economic theory, see Thomas R. de Gregori, ‘Prodigality or parsimony: the false dilemma in economic development theory’, Journal of Economic Issues 7:2 (1973), 259–66. See Simon Werrett, Thrifty science: making the most of materials in the history of experiment (Chicago: University of Chicago Press, 2019), Ch. 1 for an interesting conceptual history of parsimony as thrift. ‘Industry’ in the times of Smith still referred to someone being industrious, not heavy-scale manufacturing. At Smith’s time, however, the concept gradually morphed towards its more modern meaning; see Schui, Early debates about industry.

See the review of recent literature on materiality and cameralist political economy, Lissa Roberts, ‘Practicing oeconomy during the second half of the long eighteenth century: an introduction’, History and Technology 30:3 (2014), 133–48; Werrett, Thrifty science, pp 17–19; Chapter 8 of this volume.

Mokyr, Enlightened economy, Ch. 4 proposes such causality with regards to mercantilist political economy giving way to laissez-faire and ‘enlightened’ economic ideology and ideas better attuned with modern economic growth.

Anders Berch, Inledning til Almänna Hushålningen, innefattande Grunden til Politie, Oeconomie och Cameralwetenskaperna (Stockholm: Lars Salvius, 1747), Ger. transl. Anleitung zur allgemeinen Haushaltung in sich fassend die Grundsätze der Policey-, Oeconomie-, und Cameralwissenschaften, transl. J.G. Schreber (Halle: Curts, 1763).

Sven-Eric Liedman and Mats Persson, ‘The visible hand: Anders Berch and the university of Uppsala chair in economics’, The Scandinavian Journal of Economics 94, Supplement (1992), S259–S269; Lars Magnusson, An economic history of Sweden (London: Routledge, 2000); Wennerlind, ‘Theatrum Œconomicum’.

Mokyr, A culture of growth.

Holger Böning et al (eds), Volksaufklärung: Eine praktische Reformbewegung des 18. und 19. Jahrhunderts; Marcus Popplow (ed), Landschaften agrarisch-ökonomischen Wissens: Strategien innovativer Ressourcennutzung in Zeitschriften und Sozietäten des 18. Jahrhunderts (New York: Waxmann, 2010). On useful knowledge in a British Enlightenment context, see Mokyr, Enlightened economy.

See Chapter 1; special issue on ‘The political economy of happiness: cameralism, capitalism and the making of the modern economic mind’, History of Political Economy 53:3 (2021). Recent English-language studies include Rössner (ed), Economic growth and the origins of modern political economy; Seppel and Tribe (eds), Cameralism in practice; Ere Nokkala, From natural law to political economy: J.H.G. von Justi on state, commerce and international order (Zurich: LIT, 2019); Nokkala and Miller (eds), Cameralism and the Enlightenment; Rössner, Freedom and capitalism; Xuan Zhao, The political economy of Johann Heinrich Gottlob von Justi (1717–1771): the eighteenth-century entrepreneurial state, unpublished University of Manchester PhD thesis (2020).

For example, Mark Elvin, ‘A working definition of ‘modernity’?’, Past & Present 113 (1986), 209–13; Jens Beckert, Imagined futures: fictional expectations and capitalist dynamics (Cambridge, MA: Harvard University Press, 2016).

Koselleck, Futures past; Lucian Hölscher, Die Entdeckung der Zukunft, new edn (Göttingen: Wallstein, 2016).

A genealogy of the public vices versus virtues argument is presented in the now classic Hirschman, The passion and the interests; an updated version in Yamamoto, Taming capitalism before its triumph.

Leonhard Fronsperger, Von dem Lob deß Eigen Nutzen (Frankfurt-am-Main: Feyerabend, 1564), folio 29 recto et verso. See an English translation: Erik S. Reinert and Philipp Robinson Rössner (eds), Fronsperger and Laffemas: 16th-century Precursors of Modern Economic Ideas (London & New York: Anthem, 2023).

Bernard de Mandeville, ‘The grumbling hive, or knaves turn’d honest’, in The fable of the bees: or, private vices, publick benefits [1705/1714], ed. F.B. Kaye, vol 1 (Oxford: Clarendon Press, 1924), pp 24–5.

Rainer Klump and Lars Pilz, ‘The formation of a “spirit of capitalism” in Upper Germany: Leonhard Fronsperger’s “On the praise of self-interest”’, Journal of the History of Economic Thought 43:3 (2021), 401–19.

Koselleck, Futures past; Reinhart Koselleck, Zeitschichten, 6th edn (Frankfurt-am-Main: Suhrkamp, 2021), Engl. transl. Sediments of time: on possible histories (Stanford: Stanford University Press, 2018). The concept of ‘time-scape’ has been introduced in Achim Landwehr, Geburt der Gegenwart: eine Geschichte der Zeit im 17. Jahrhundert (Frankfurt-am-Main: Fischer, 2014).

Baronian, ‘The time-spaces of capitalism’.

Paul Slack, The invention of improvement: information and material progress in seventeenth-century England (Oxford: Oxford University Press, 2015), p 2.

Ibid., p 1.

Ibid., p 258.

A taste of such future-looking oeconomic sciences and their general impact and context is given in Carl Wennerlind, ‘Money: Hartlibian political economy and the new culture of credit’, in Stern and Wennerlind (eds), Mercantilism reimagined, pp 74–96, at p 77; see also Andrea Finkelstein, ‘Nicholas Barbon and the quality of infinity’, History of Political Economy 32:1 (2000), 83–102; Fredrik Albritton Jonsson, ‘The origins of Cornucopianism: a preliminary genealogy’, Critical Historical Studies 1:1 (2014), 151–68; Vera Keller, Knowledge and the public interest, 1575–1725 (Cambridge: Cambridge University Press, 2015), for example, Ch. 6.

Wakefield, ‘Butterfield’s nightmare: the history of science as Disney history’.

Fredrik Albritton Jonsson and Carl Wennerlind, Scarcity: economy and nature in the age of capitalism (Cambridge, MA: Harvard University Press, 2023).

But see Magnusson, Mercantilism.

See, for example, Schui, Early debates about industry.

Beckert, Imagined futures; see also Arjun Appadurai, The future as cultural fact: essays on the global condition (New York: Verso, 2013); Francesco Boldizzoni, ‘Capitalism’s futures past: expectations in history and theory’, Critical Historical Studies 4:2 (2017), 255–66.

For example, Roberts, ‘Practicing oeconomy during the second half of the long eighteenth century’, and further papers in said special issue; Werrett, Thrifty science.

Koselleck, Futures past; see also Brunner, Conze and Koselleck (eds), Geschichtliche Grundbegriffe; Hölscher, Entdeckung der Zukunft; Landwehr, Geburt der Gegenwart; Judith Pollmann, ‘Archiving the present and chronicling for the future in early modern Europe’, Past & Present 230:S11 (2016), 231–52.

Mokyr, Enlightened economy, Ch. 4, for a mainstream interpretation of mercantilism’s contribution (and by this way, cameralism is included) to ‘Enlightenment’ economics; Dorinda Outram, The Enlightenment, 2nd edn (Cambridge: Cambridge University Press, 2012) is a welcome difference in that regard. See Erik S. Reinert and Philipp Robinson Rössner, ‘Cameralism and the German tradition of development economics’, in Erik S. Reinert, Jayati Ghosh and Rainer Kattel (eds), Elgar handbook of alternative theories of economic development (Cheltenham: Edward Elgar, 2016), pp 63–86.

See Chapter 1.

Pioneering studies include Douglass C. North, Institutions, institutional change, and economic performance (Cambridge: Cambridge University Press, 1990); Avner Greif, ‘Cultural beliefs and the organization of society: a historical and theoretical reflection on collectivist and individualist societies’, Journal of Political Economy 102:5 (1994), 912–50; North, Understanding the process of economic change; Greif, Institutions and the path to the modern economy; North, Wallis and Weingast, Violence and social orders.

North, Understanding the process of economic change.

Mokyr, Culture of growth; Jeremy Black, The power of knowledge: how information and technology made the modern world (New Haven, CT: Yale University Press, 2014).

Landwehr, Geburt; Hölscher, Entdeckung; Peter Burke, ‘Introduction’, in Andrea Brady and Emily Butterworth (eds), The uses of the future in early modern Europe (New York: Routledge, 2010); Daniel Fulda, ‘Wann begann die ‘offene Zukunft’? Ein Versuch, die Koselleck’sche Fixierung auf die ‘Sattelzeit’ zu überwinden’, in Wolfgang Breul and Jan Carsten Schnurr (eds), Geschichtsbewusstsein und Zukunftserwartung in Pietismus und Erweckungsbewegung (Göttingen: Vandenhoeck & Ruprecht, 2013), pp 141–72; Daniel Fulda, ‘Die Geschichte trägt der Aufklärung die Fackel vor’: Eine deutsch-französische Bild-Geschichte (Halle: mdv, 2016).

Most instructive in this regard are the recent writings by Wennerlind, ‘Theatrum Œconomicum’; Wennerlind, ‘The political economy of Sweden’s Age of Greatness’.

Peter Wilson, The Thirty Years War: Europe’s tragedy (Cambridge, MA: Harvard University Press, 2011).

For the Germanic vibe in early modern economic discourse, see Keith Tribe, Strategies of economic order: German economic discourse, 1750–1950 (Cambridge: Cambridge University Press, 1996); Keith Tribe, Governing economy: the reformation of German economic discourse 1750–1840 2^nd ed (Newbury: Threshold Press, 2017); on this war, see Georg Schmidt, Die Reiter der Apokalypse: Geschichte des Dreißigjährigen Krieges (Munich: C.H. Beck, 2018).

Raeff, The well-ordered police state; in a provocative new interpretation, Wakefield, Disordered police state.

For new interpretations, see Hagen, German history in modern times; Joachim Whaley, Germany and the Holy Roman Empire 1493–1806, 2 vols (Oxford: Oxford University Press, 2012); Wilson, The Holy Roman Empire.

Harcourt, The illusion of free markets.

Pfister, ‘The timing and pattern of real wage divergence in pre-industrial Europe’.

Otto Walde, Storhetstidens litterära krigsbyten: En kulturhistorisk bibliografisk studie (Uppsala: Almqvist och Wiksell, 1916, 1920), Vol I, pp 108–11, 178; for a quote from the original donationsbref (certificate or letter of donation) from 1631, ibid., Appendix 2, p 338, for Prussia, Erfurt, Heiligenstadt, Würzburg and Mainz.

Marcus Popplow, ‘Hoffnungsträger “Unächter Acacien=Baum”’, in Torsten Meyer and Marcus Popplow (eds), Technik, Arbeit und Umwelt in der Geschichte: Günter Bayerl zum 60. Geburtstag (New York: Waxmann, 2006), pp 297–316; Vera Keller and Alexander Marr (eds), ‘The nature of invention’, Intellectual History Review 24:3 (2014); Keller, Knowledge and the public interest; Vera Keller and Ted McCormick, ‘Science and the shape of things to come’, Early Science and Medicine, 21:5 (2016); Smith, The business of alchemy.

Wennerlind, ‘The political economy of Sweden’s Age of Greatness’.

See former Harvard University/Kress Librarian Ken Carpenter’s working files on early modern economics translations from and to Swedish.

Lars Magnusson, ‘Economic thought and group interests: Adam Smith, Christopher Polhem, Lars Salvius and classical political economy’, Scandinavian Journal of History 2:1/4 (1977), 243–64, at 257; see also Magnusson’s chapter in Seppel and Tribe (eds), Cameralism in practice for possible connections between Anders Berch’s Inledning and Justus Dithmar.

On some quibbles with grammar and translation of the ambiguous title for this work, see Tribe, Governing economy, Chs. 1 and 2.

Magnusson’s chapter in Seppel and Tribe (eds), Cameralism in practice; Nokkala and Miller (eds), Cameralism and the Enlightenment.

Some hints on cameralism and oeconomic futures can be found in Isabel V. Hull, Sexuality, state, and civil society in Germany, 1700–1815 (Ithaca, NY: Cornell University Press, 1996), p 155.

As Hölscher has argued, the German language knew the use of ‘future’ in the adjective long before the substantive (with a definite article), which is one of the epistemic foundations upon which the ‘Hölscher’ thesis of the discovery of the open future rests, including its dating to the mid-to-late 18th century; see Hölscher, Entdeckung; more recently, Landwehr, Geburt; Christopher Clark, Time and power: visions of history in German politics, from the Thirty Years’ War to the Third Reich (Princeton, NJ: Princeton University Press, 2019), esp. Introduction and Chs. 1 and 2. Others have argued for earlier dating; see Burke, ‘Introduction’; Fulda, ‘Die Geschichte trägt der Aufklärung die Fackel vor’; Fulda, ‘Wann begann die “offene Zukunft”?’.

Rössner (ed), Economic growth and the origins of modern political economy; Seppel and Tribe (eds), Cameralism in practice; Nokkala and Miller (eds), Cameralism and the Enlightenment.

The most recent and comprehensive treatise of this matter is in William A. Deringer, Calculated values: finance, politics, and the quantitative age (Cambridge, MA: Harvard University Press, 2018); William A. Deringer, ‘Compound interest corrected: the imaginative mathematics of the financial future in early modern England’, Osiris 33 (2018), 109–30.

As a simple search of the Making of the Modern World database shows; but see Newe gezeytung ausz Romischer Kaiserlicher Maiestat vn[d] des Konigs von Engellandt Here vor Terebona in Bickhardia: Was eererpietung der konig vo[n] Engellandt der Kaiserlichen maiestat in irer zukunfft erzaygt. Was sich auch sonst gegenn des Konig vonn Franckreich Kriegsvolck durch Krieges vbung begeben hat (1513).

This does not mean there were no other uses. According to Grimm’s dictionary, medieval usages of the term simply denoting movement in a geographic dimension – as in ‘advent’ or ‘arrival’, but also ‘return’ – continued into the 16th century and beyond. Luther and other late Renaissance writers such as Sebastian Franck occasionally seem to have used the term with a time dimension (as in ‘in the future’), but with clear biblical and soteriological connotation. It is in the writings of Goethe, Herder and Schiller where we find a use and connotation of Zukunft that seems more or less in line with the modern sense of future as a time-scape clearly located after both present and the past. Still, even during the age of Enlightenment and Romanticism, ‘future’ often appeared in personified form, or slightly different connotations including ‘eternity’. See Jacob and Wilhelm Grimm, Deutsches Wörterbuch, Vol 32, Col. 484, online edn (https://woerterbuchnetz.de/?sigle=DWB&lemma=quetschen#2, last accessed 24 May 2022); Johann Christoph Adelung, Grammatisch-kritisches Wörterbuch der Hochdeutschen Mundart, Vol 4 (Leipzig: Breitkopf, 1801), p 1757, (online version: https://woerterbuchnetz.de/?sigle=DWB&lemma=quetschen#5, last accessed 24 May 2022).

Jack Goody, The theft of history (Cambridge: Cambridge University Press, 2012); see contributions by Hanss and others in Past & Present (2020).

Safley’s works have added a lot on early modern business ethics from the point of view of credibility, faith and honour; see, for example, Safley, Family firms and merchant capitalism in early modern Europe.

Francesco Boldizzoni, Means and ends: the idea of capital in the West, 1500–1970 (Basingstoke: Palgrave Macmillan, 2008); Carl Wennerlind, Casualties of credit: the English financial revolution, 1620–1720 (Cambridge, MA: Harvard University Press, 2011).

Jaco Zuijderduijn, Medieval capital markets: markets for renten, state formation and private investment in Holland (1300–1550) (Leiden: Brill, 2009).

Johannes Fried, Aufstieg aus dem Untergang: Apokalyptisches Denken und die Entstehung der modernen Naturwissenschaft im Mittelalter, 2nd edn (Munich: C. H. Beck, 2012).

Mokyr, A culture of growth.

Peter Spufford, Power and profit: the merchant in medieval Europe, new edn (London: Thames & Hudson, 2006); Roberto S. Lopez, The commercial revolution of the middle ages, 950–1350, new edn (Cambridge: Cambridge University Press, 2009); Gabriela Signori, ‘Kontingenzbewältigung durch Zukunftshandeln: der spätmittelalterliche Leibrentenvertrag’, in Markus Bernhardt, Stefan Brakensiek and Benjamin Scheller (eds), Ermöglichen und Verhindern: vom Umgang mit Kontingenz (Frankfurt-am-Main: Campus, 2016), pp 117–42.

Diana Wood, Medieval economic thought (Cambridge: Cambridge University Press, 2002); Markus A. Denzel, Das System des bargeldlosen Zahlungsverkehrs europäischer Prägung vom Mittelalter bis 1914 (Stuttgart: Franz Steiner, 2008); Markus A. Denzel, Handbook of world exchange rates (Farnham: Ashgate, 2010), Introduction; Hans-Jörg Gilomen, ‘Der Reichtum der Kirche und die Auseinandersetzungen um ihren Beitrag zum Gemeinwohl. Das Beispiel eidgenössischer Städte im Spätmittelalter’, in Petra Schulze and Peter Hesse (eds), Reichtum im späten Mittelalter: Politische Theorie – Ethische Norm – Soziale Akzeptanz (Stuttgart: Franz Steiner, 2015), pp 203–38; Mathias Schmoeckel, ‘Die Kanonistik und die Zunahme des Handels vom 13. Bis zum 15. Jahrhundert/Canon law and growing trade between the 13th and 15th century’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 104:2 (2017), 237–54.

Rössner, Martin Luther on commerce and usury; Philipp Robinson Rössner, ‘Burying money? Monetary origins and afterlives of Luther’s Reformation’, History of Political Economy 48:2 (2016), 225–63.

Landwehr, Geburt; Rössner, Luther on commerce and usury.

Johannes Burkhardt, Das Reformationsjahrhundert: Deutsche Geschichte zwischen Medienrevolution und Institutionenbildung 1517–1617 (Stuttgart: Kohlhammer, 2002); Marcus Sandl, Medialität und Ereignis: Eine Zeitgeschichte der Reformation (Zurich: Chronos, 2011); Andrew Pettegree, Brand Luther: how an unheralded monk turned his small town into a center of publishing, made himself the most famous man in Europe – and started the Protestant Reformation (London: Penguin, 2015).

Here I am following Dieter Groh, Göttliche Weltökonomie: Perspektiven der wissenschaftlichen Revolution vom 15. bis zum 17. Jahrhundert (Frankfurt-am-Main: Suhrkamp, 2010), Ch. 1.

Wennerlind, ‘The political economy of Sweden’s Age of Greatness’.

For earlier elements of such future models, see Kaye, Economy and nature in the fourteenth century.

Practical examples would include Johanna Eleonora Petersen, Anleitung zu gründlicher Verständniß, der heiligen Offenbahrung Jesu …, Vol 1 (1696) https://books.google.de/books?id=e8JIAAAAcAAJ&pg=PA267&dq=%22zukunft%22&hl=de&sa=X&ved=0ahUKEwjY0qWmyNvbAhUCvxQKHVriCXgQ6AEIPTAE#v=onepage&q=%22zukunft%22&f=false

For example, Georg Witzel, Ecclesiasticae Demegoriae: Postill oder gemeine predig Rechter …, Vol 1 (1548), p LXVI; Jakob Heerbrand and Dietrich Schnepff, Gründtlicher Bericht, Von zweien Schrifften der Caluinischen Predicanten (1585), p 861, https://books.google.de/books?id=zU0rC0X_CC8C&pg=PA861&dq=%22zukunft%22&hl=de&sa=X&ved=0ahUKEwiMpODOytvbAhVNbVAKHZ1HAE0Q6AEINzAD#v=onepage&q=%22zukunft%22&f=false; Johann Baumgart, Postilla (Magdeburg: A. Gene, 1587), pp 1, 6.

This becomes apparent from one instance in which Hess refers to something that will remain a problem until the end of time: ‘das wird wol bis zur grossen Zukunft ein Problem bleiben’, Ludwig Freiherr von Hess, Freymüthige Gedanken über Staatssachen (Hamburg: Bode, 1775), p 153.

Ibid., pp 377, 404.

Rössner, Martin Luther on commerce and usury.

Landwehr, Geburt.

I am using the definition and measuring criteria presented in Erik S. Reinert, Kenneth Carpenter, Fernanda A. Reinert and Sophus A. Reinert, ‘80 economic bestsellers before 1850: a fresh look at the history of economic thought’, Tallinn University of Technology Working Paper Series in Economic Governance (2018 version), http://technologygovernance.eu/files/main//2017051103164242.pdf

Volker Leppin, Antichrist und Jüngster Tag: Das Profil apokalyptischer Flugschriftenpublizistik im deutschen Luthertum 1548–1618 (Gütersloh: Gütersloher Verlagshaus, 1999); Rousseaux, Die Kipper und Wipper als publizistisches Ereignis; Nipperdey, ‘Von der Katastrophe zum Niedergang. Gewöhnung an die Inflation in der deutschen Münzpublizistik des 17. Jahrhunderts’, pp 250–1, 254, 262.

On Bacon, for example, Noah Millstone, ‘Seeing like a statesman in early Stuart England’, Past & Present 223:1 (2014), 100–12.

For a historical view on the Habermas thesis, see Tim Blanning, The pursuit of glory: Europe 1648–1815 (London: Allen Lane, 2008).

Landwehr, Geburt, p 146.

Cornel Zwierlein, ‘Fuggerzeitungen als Ergebnis von italienisch-deutschem Kulturtransfer, 1552–1570’, Quellen und Forschungen aus italienischen Archiven und Bibliotheken 90 (2010), 169–224.

Rudolf Schlögl, Anwesende und Abwesende: Grundriss für eine Gesellschaftsgeschichte der Frühen Neuzeit (Constance: Konstanz University Press, 2014), pp 363–5.

Landwehr, Geburt; Hölscher, Entdeckung.

R.C. Bowler, ‘Menschenbild und Wirtschaftsordnung: Der Menschenbegriff im Kameralismus und in der Nationalökonomie’, Berichte zur Wissenschaftsgeschichte 25:4 (2002), 283–99; Birger P. Priddat, ‘Kameralismus als paradoxe Konzeption der gleichzeitigen Stärkung von Markt und Staat. Komplexe Theorielagen im deutschen 18. Jahrhundert’, Berichte zur Wissenschaftsgeschichte 31 (2008), 249–63.

Ulrike Lötzsch, Joachim Georg Darjes (1714–1791): Der Kameralist als Schul- und Gesellschaftsreformer (Cologne: Böhlau, 2016), p 247.

Ibid., p 24.

Erhard Dittrich, Die deutschen und österreichischen Kameralisten (Darmstadt: Wissenschaftliche Buchgesellschaft, 1974), pp 40–9; on Klock, as well as ‘early’ cameralism in a wider sense, the excellent introduction by Bertram Schefold(ed), in Kaspar Klock, Tractatus juridico-politico-polemico-historicus de aerario, sive censu per honesta media absque divexatione populi licite conficiendo, libri duo (Hildesheim: Olms-Weidmann, 2009). Older works include Wilhelm Roscher, ‘Die österreichische Nationalökonomik unter Kaiser Leopold I’, Jahrbücher für Nationalökonomie und Statistik 2 (1864), 25–59 and 105–22; Small, The cameralists; Zielenziger, Die alten deutschen Kameralisten; Louise Sommer, Die österreichischen Kameralisten in dogmengeschichtlicher Darstellung, 2 vols (Vienna: Konegen, 1920/25).

Georg Obrecht, Fünff Vnderschiedliche Secreta Politica. Von Anstellung/ Erhaltung vnd Vermehrung guter Policey/ vnd von billicher/ rechtmässiger vnd nothwendiger Erhöhung/ eines jeden Regenten Jährlichen Gefällen vnd Einkommmen o. V., Straßburg, 1617, 15 (facsimile in Schefold); similar in Georg Obrecht, Politisch Bedencken und Discurs: von Verbesserung Land und Leut Anrichtung gutter Policey unnd fürnemlich von nutzlicher Erledigung großer Außgaben und billicher Vermehrung eines jeden Regenten und Oberherren jährlichen Gefähllen und Einkummen (1606).

Reinert and Carpenter, ‘German language economic bestsellers’.

Obrecht, Politische Bedencken [1617] 1644, p 6.

Peter Blickle, Die Revolution von 1525, new edn (Munich: Beck, 2004).

1752, no publisher; p 10.

Ibid., p 32

I have studied this in Philipp Robinson Rössner, ‘Merchants, mercantilism, and economic development: the Scottish way, c.1700–1815’, Annales Mercaturae 1:1 (2015), 97–126.

Marcus Sandl, Ökonomie des Raumes: der kameralwissenschaftliche Entwurf der Staatswirtschaft im 18. Jahrhundert (Cologne: Böhlau, 1999).

Smith, Business of alchemy.

Douglass Watt, The price of Scotland: Darien, union and the wealth of nations (Edinburgh: Luath, 2007).

The rich documentation of the pros and cons and the emerging political factions of this process have been documented richly in Whatley’s meticulous studies, the most recent and definitive one being C.A. Whatley, The Scots and the union, new edn (Edinburgh: Edinburgh University Press, 2016); see also Karin Bowie, Scottish public opinion and the Anglo-Scottish union, 1699–1707 (Woodbridge: Boydell & Brewer, 2011); Karin Bowie, Public opinion in early modern Scotland, c.1560–1707 (Cambridge: Cambridge University Press, 2020).

Sir John Clerk, Letter (Edinburgh: publisher unknown, 1706), p 14.

Ibid., pp 15–16, 44.

Author unknown, An essay for promoting of trade and increasing the coin of the nation (around 1706), p 5.

Lötzsch, Joachim Georg Darjes; Arthur Richter, ‘Darjes, Joachim Georg’, Allgemeine Deutsche Biographie 4 (1876), 758–9.

Joachim Georg Darjes, Erste Gründe der Cameral-Wissenschaften (2^nd ed, Leipzig: Breitkopf, 1768), p 363.

‘zum Heil der Menschheit gereichende Veränderungen’, p 13.

Reinert et al, ‘80 economic bestsellers before 1850’.

A quote from Seckendorff: ‘Harmonie, Glückseligkeit, wahren Wohlstand und Glückseligkeit ihrer höchsten und hohen Häuser, ja aller getreuen Unterthanen, allenthalben herstellen und täglich vermehren, diejenigen, so am Ruder sitzen, mit wahrer Klugheit und ungeheuchelter Tugend ausrüsten, allesamt aber zu Erlangung dieses Endzwecks mit seiner Weißheit so lange begnadigen wolle, bis dereinst alle Fürstenthümer und Herrschafften ein Ende haben warden’, in Seckendorff, Teutsche Fuersten Stat (Jena: Meyer, 1737), Preface.

Johann Joachim Becher, Politische Discurs, von den eigentlichen Ursachen, deß Auff- und Abnehmens der Städt, Länder und Republicken, 2nd edn (Frankfurt: Zunners, 1673), pp 1–4.

Marcus Sandl, ‘Development as possibility: risk and chance in the cameralist discourse’, in Rössner (ed), Economic reasons of state, pp 139–55.

Bertram Schefold, ‘Goethe’s economics. Between cameralism and liberalism’, in Rössner (ed), Economic reasons of state, pp 79–100.

Obrecht 1617, pp 112–13.

Jan Hartman and Artur Weststijn, ‘An empire of trade: commercial reason of state in seventeenth-century Holland’, in Sophus A. Reinert and Pernille Røge (eds), The political economy of empire in the early modern world (Basingstoke: Palgrave Macmillan, 2013), pp 11–31.

Von Hörnigk, Austria supreme (if it so wishes).

Hont, Jealousy of trade; Sophus A. Reinert, ‘Rivalry: greatness in early modern political economy’, in Stern and Wennerlind (eds), Mercantilism reimagined, pp 348–70.

Rendered in the English translation in von Hörnigk, Austria supreme (if it so wishes).

Lars Behrisch, Vermessen, Zählen, Berechnen: Die politische Ordnung des Raums im 18. Jahrhundert (Frankfurt-am-Main: Campus, 2006); Benjamin Steiner, Die Ordnung der Geschichte: Historische Tabellenwerke in der Frühen Neuzeit (Vienna: Böhlau, 2008); Dirk Philipsen, Little big number: how GDP came to rule the world and what to do about it (Princeton, NJ: Princeton University Press, 2015); Matthias Schmelzer, The hegemony of growth: the OECD and the making of the economic growth paradigm (Cambridge: Cambridge University Press, 2017).

Keith Tribe, Land, labour, and economic discourse (London: Routledge and Kegan Paul, 1978), Ch. 4; Keith Tribe, The economy of the word: language, history, and economics (Oxford: Oxford University Press, 2015), pp 4, 28.

See, for example, Werrett, Thrifty science, Chs. 1 and 8.

Tribe, Land, labour, and economic discourse, Ch. 4.

King James VI of Scotland (I of England), The true lavv of free monarchy, or the reciprocall and mutuall duty betvvixt a free king and his naturall subjects: by a well affected subject of the kingdome of Scotland ([Edinburgh 1598] London: T.P. 1642), p 4; see also p 10.

Recent landmark studies on Frederician Prussia include Johannes Kunisch, Friedrich der Große: Der König und seine Zeit, 4th edn (Munich: C.H. Beck, 2005); relevant chapters in Christopher Clarke, Iron Kingdom: the rise and downfall of Prussia, 1600–1947 (London: Allen Lane, 2007); Ewald Frie, Friedrich II (Reinbek bei Hamburg: Rowohlt, 2012); Bernd Sösemann and Gregor Vogt-Spira (eds), Friedrich der Große in Europa: Geschichte einer wechselvollen Beziehung, 2 vols (Stuttgart: Franz Steiner, 2012); Tim Blanning, Frederick the Great: King of Prussia (London: Allen Lane, 2015).

Susan Richter, Pflug und Steuerruder: Zur Verflechtung von Herrschaft und Landwirtschaft in der Aufklärung (Cologne: Böhlau, 2014), pp 11–28.

More precisely, the ‘Kingdom’s stock’. For example, Thomas Mun, England’s treasure by foreign trade (London: Clark, 1664); see also Margaret Schabas and Neil de Marchi, ‘Introduction’, in Schabas and de Marchi (eds), Oeconomies in the age of Newton, pp 1–13, at pp 4–5; Tribe, Economy of the word, pp 23–8.

Marx, Das Kapital; Kaveh Yazdani and Nasser Mohajer, ‘Reading Marx in the divergence debate’, in Benjamin Zachariah, Lutz Raphael and Brigitta Bernet (eds), What’s left of Marxism: historiography and the possibilities of thinking with Marxian themes and concepts (Berlin: De Gruyter Oldenbourg, 2020), pp 173–240; on the concept of fiscal and fiscal-military states, for example, Patrick Bonney, The rise of the fiscal state in Europe c.1200–1815 (Oxford: Oxford University Press, 1999); Jan Glete, War and the state in early modern Europe: Spain, the Dutch Republic and Sweden as fiscal-military states, 1500–1660 (Abingdon: Routledge, 2006); Bartolomé Yun-Casalilla and Patrick K. O’Brien (eds), The rise of fiscal states: a global history, 1500–1914 (Cambridge: Cambridge University Press, 2012).

Comparative data in Sevket Pamuk and Kivanç Karaman, ‘Different paths to the modern state in Europe: the interaction between warfare, economic structure, and political regime’, American Political Science Review 107:3 (2013), 1–23, tables and graphs on pp 3ff.; narratives in Yun-Casalilla and O’Brien (eds), The rise of fiscal states.

Summarized in Karin Friedrich, Brandenburg-Prussia, 1466–1806 (Basingstoke: Palgrave Macmillan, 2012), esp. Ch. 3. But see Mark Spoerer, ‘The revenue structures of Brandenburg-Prussia, Saxony and Bavaria (fifteenth to nineteenth centuries): are they compatible with the Bonney-Ormrod model?’, in Simonetta Cavaciocchi (ed), La fiscalità nell’economia europea secc XIII–XVIII: atti della ‘Trentanovesima Settimana di Studi’, 22–26 aprile 2007/Fiscal systems in the European economy from the 13th to the 18th centuries, Vol 2 (Florence: Firenze University Press, 2008), pp 781–92; Florian Schui, Rebellious Prussians: urban political culture under Frederick the Great and his successors (Oxford: Oxford University Press, 2013); Pamuk and Karaman, ‘Different paths’.

Walter L. Dorn, ‘The Prussian bureaucracy in the eighteenth century’, Political Science Quarterly 46:3 (1931), 403–23. I am indebted to Dr Xuan Zhao for pointing me to this work. On Prussian economic administration and the myth of Friedrich as the ‘omnipresent king’, see Karl-Erich Born, Wirtschaft und Gesellschaft im Denken Friedrichs des Grossen (Wiesbaden: Steiner, 1979); literature review by Frank Göse, ‘Der König und das Land’, in Friedrich300 – Colloquien, Friedrich der Große – eine perspektivische Bestandsaufnahme on perspectivia.net (perspectivia.net, 2007).

Friedrich Lütge, Die mitteldeutsche Grundherrschaft und ihre Auflösung, 2nd edn (Stuttgart: Fischer, 1957); more recent surveys include Werner Rösener, Agrarwirtschaft, Agrarverfassung und ländliche Gesellschaft im Mittelalter (Munich: Oldenburg, 1992); Werner Troßbach and C. Zimmermann, Die Geschichte des Dorfes: Von den Anfängen im Frankenreich zur bundesdeutschen Gegenwart (Stuttgart: UTB, 2006); Erich Landsteiner and Ernst Langthaler (eds), Agrosystems and labour relations in European rural societies (Middle Ages–twentieth century) (Turnhout: Brepols, 2010); Erich Landsteiner, ‘Landwirtschaft und Agrargesellschaft’, in M. Cerman, F.X. Eder, P. Eigner, A. Komlosy and E. Landsteiner (eds), Wirtschaft und Gesellschaft: Europa 1000–2000 (Innsbruck: Studienverlag, 2011), pp 178–210; Cerman, Villagers and Lords; Rolf Kießling, Frank Konersmann and Werner Troßbach, Grundzüge der Agrargeschichte, Vol 1: Vom Spätmittelalter bis zum Dreißigjährigen Krieg (1350–1650) (Cologne: Böhlau, 2016); Reiner Prass, Grundzüge der Agrargeschichte, Vol 2: Vom Dreißigjährigen Krieg bis zum Beginn der Moderne (1650–1880) (Cologne: Böhlau, 2016).

Ronald G. Asch and Heinz Duchardt (eds), Der Absolutismus – ein Mythos? Strukturwandel monarchischer Herrschaft in West- und Mitteleuropa (ca.1550–1700) (Cologne: Böhlau, 1996); Peter Baumgart, ‘Absolutismus ein Mythos? Aufgeklärter Absolutismus ein Widerspruch? Reflexionen zu einem kontroversen Thema gegenwärtiger Frühneuzeitforschung’, Zeitschrift für Historische Forschung, 27 (2000), 573–89; Nicholas Henshall, The myth of absolutism: change and continuity in early modern European monarchy (London and New York: Longman, 2001); Heinz Duchardt, Barock und Aufklärung, 4th edn (Munich: Oldenbourg, 2007); Dagmar Freist, Absolutismus (Darmstadt: Wissenschaftliche Buchgesellschaft, 2008).

For example, Giorgio Agamben, Herrschaft und Herrlichkeit: Zur theologischen Genealogie von Ökonomie und Regierung: Homo sacer II.2, pbk edn (Frankfurt-am-Main: Suhrkamp, 2010); Dotan Leshem, The origins of neoliberalism: modeling the economy from Jesus to Foucault (New York: Columbia University Press, 2017).

Erik S. Reinert and Fernanda A. Reinert, ‘33 economic bestsellers published before 1750’, The European Journal of the History of Economic Thought 25:6 (2018), 1206–63.

Roberts, ‘Practicing oeconomy during the second half of the long eighteenth century’; Werrett, Thrifty science.

On different traditions of economic thought and the underlying semantics, see, most recently, Keith Tribe, Constructing economic science: the invention of a discipline 1850–1950 (Oxford: Oxford University Press, 2022); Tribe, Economy of the word. A classic late Hausväter or oeconomy piece in the German language is Wolf Helmhardt von Hohberg, Georgica Curiosa: Das ist: Umständlicher Bericht und klarer Unterricht Von dem Adelichen Land- und Feld-Leben / Auf alle in Teutschland übliche Land- und Haus-Wirthschafften gerichtet (Nuremberg: Endter, 1682). See Otto Brunner, Adeliges Landleben und europäischer Geist: Leben und Werk Wolf Helmhards von Hohberg (Salzburg: Müller, 1949); Johannes Burkhardt and Birger P. Priddat (eds), Geschichte der Ökonomie (Frankfurt-am-Main: Deutscher Klassiker Verlag, 2000), pp 128–42, and commentary, pp 759–76. For an intellectual genealogy (Begriffsgeschichte) of the term ‘Wirtschaft’ (economy, economics), see Johannes Burckhardt, Otto Gerhard Oexle and Peter Spahn, ‘Wirtschaft’, in Brunner, Conze and Koselleck (eds), Geschichtliche Grundbegriffe, Vol 7; relevant passages on the entry in Zincke’s economic encyclopedia (1748) in Burkhardt and Priddat (eds), Geschichte der Ökonomie, pp 181–215, 796–805.

Mauricio Drelichman and Hans-Joachim Voth, Lending to the borrower from hell: debt, taxes, and default in the age of Philip II (Princeton, NJ: Princeton University Press, 2017).

For example, Michel Foucault, Security – territory – population (lectures at the College de France) (Basingstoke: Palgrave Macmillan, 2007); German edn, Michel Foucault, Sicherheit, Territorium, Bevölkerung: Geschichte der Gouvernementalität I. Vorlesungen am Collège de France 1977/1978 (Frankfurt-am-Main: Suhrkamp, 2014); Michel Foucault, Die Geburt der Biopolitik: Geschichte der Gouvernementalität II (Frankfurt-am-Main: Suhrkamp, 2014).

Karl Polanyi, The great transformation: economic origins of our time (New York: Farrar & Rinehart,1944); Daron Acemoglu and James A. Robinson, The narrow corridor: states, societies, and the fate of liberty (London: Penguin, 2020). From a historian’s point of view, Stephan Epstein, Freedom and growth: markets and states in pre-modern Europe (London: Routledge, 2000).

From a modern economists’ point of view, for example, Douglass C. North and Robert Paul Thomas, The rise of the Western world: a new economic history, new edn (Cambridge: Cambridge University Press, 2009); Daron Acemoglu and James A. Robinson, Why nations fail: the origins of power, prosperity, and poverty (New York: Crown, 2012); Timothy Besley and Torsten Persson, Pillars of prosperity: the political economics of development clusters (Princeton, NJ: Princeton University Press, 2013); North, Wallis and Weingast, Violence and social orders; David Stasavage, States of credit: size, power, and the development of European polities (Princeton, NJ: Princeton University Press, 2017); M. Malinowski, ‘Economic consequences of state failure; legal capacity, regulatory activity, and market integration in Poland, 1505–1772’, Journal of Economic History 79:3 (2019), 862–96. For diverging viewpoints, Gregory Clark, ‘The political foundations of modern economic growth: England, 1540–1800’, Journal of Interdisciplinary History 26:4 (1996), 563–88; Henriques and Palma, Comparative European institutions and the little divergence, 1385–1800.

Further to the works listed previously: Mark Dincecco, Political transformations and public finances: Europe, 1650–1913 (Cambridge: Cambridge University Press, 2011); Mark Dincecco with Massimiliano Onorato, From warfare to wealth: the military origins of urban prosperity in Europe (Cambridge: Cambridge University Press, 2017); Mark Dincecco, State capacity and economic development: present and past (Cambridge: Cambridge University Press, 2017).

Key works include Paul M. Kennedy, The rise and fall of the great powers: economic changes and military conflict from 1500 to 2000 (London: Vintage, 1989); Geoffrey Parker, The military revolution, 1500–1800: military innovation and the rise of the West, 2nd edn (Cambridge: Cambridge University Press, 1996); Frank Tallett, War and society in early modern Europe: 1495–1715, new edn (Abingdon: Routledge, 2016).

Apart from works already mentioned, see the survey in Marjolein ‘t Hart, ‘Warfare and capitalism: the impact of the economy on state making in northwestern Europe, seventeenth and eighteenth centuries’, Review (Fernand Braudel Center) 23:2 (2000), 209–28; O’Brien, ‘The nature and historical evolution’.

For example, Mark Dincecco, ‘The rise of effective states in Europe’, The Journal of Economic History 75:3 (2015), 901–18, with a good literature overview.

Acemoglu and Robinson, Why nations fail; Acemoglu and Robinson, Narrow corridor. For a critique of Acemoglu and Robinson, see, inter alia, Henriques and Palma, Comparative European institutions and the little divergence, 1385–1800; Peer Vries, ‘Does wealth entirely depend on inclusive institutions and pluralist politics? A review of Daron Acemoglu and James A. Robinson, “Why nations fail. The origins of power, prosperity and poverty”’, Tijdschrift voor Sociale en Economische Geschiedenis 9:3 (2012), 74–93; Francesco Boldizzoni, ‘On history and policy: time in the age of neoliberalism’, Journal of the Philosophy of History 9:1 (2015), 4-17.

In global history, such a model of the European state is implied in, for example, Wong, China transformed; Keith Tribe, ‘“Das Adam Smith Problem” and the origins of modern Smith scholarship’, History of European Ideas 34 (2008), 514–25; Rosenthal and Wong, Before and beyond divergence; Moritz Isenmann, ‘Die langsame Entstehung eines ökonomischen Systems. Konkurrenz und freier Markt im Werk von Adam Smith’, Historische Zeitschrift 307:3 (2018), 655–91.

For example, Evans, Rueschemeyer and Skocpol (eds), Bringing the state back in; Chang, Kicking away the ladder; Erik Reinert, How rich countries got rich … and why poor countries stay poor (London: Constable, 2007); Kattel and Mazzucato, ‘Mission-oriented innovation policy’; Mariana Mazzucato, The entrepreneurial state: debunking public vs. private sector myths, new edn (London: Allen Lane, 2018); Reinert, Ghosh and Kattel (eds), Handbook of alternative theories of economic development; Reinert, Visionary realism; Arkebe Oqubay, Christopher Cramer, Ha-Joon Chang and Richard Kozul-Wright (eds), Oxford handbook of industrial policy (Oxford: Oxford University Press, 2020); Mazzucato, Mission economy. Historical perspectives offered in Vries, ‘Governing growth’; Prasannan Parthasarathi, Why Europe grew rich; further foundational studies include Vries, State, economy and the great divergence; Ashworth, The Industrial Revolution; Peer Vries, Averting a great divergence: state and economy in Japan, 1868–1937 (London: Bloomsbury, 2019).

For example, Dincecco, ‘The rise of effective states in Europe’; Stasavage, States of credit, Introduction; Malinowski, ‘Economic consequences of state failure’.

Charles Tilly, Coercion, capital, and European states, ad 990–1990, 2nd edn (Cambridge, MA: Blackwell, 1992); Johannes Burkhardt, ‘Die Friedlosigkeit der Frühen Neuzeit. Grundlegung einer Theorie der Bellizität Europas’, Zeitschrift für historische Forschung 24:4 (1997), 509–74; Acemoglu and Robinson, Narrow corridor; Stasavage, States of credit; Hoffman, Why did Europe conquer the world?. See Merry Wiesner Hanks, Early modern Europe 1450–1789, 2nd edn (Cambridge: Cambridge University Press, 2013), p 88; and many more.

Koyama and Rubin, How the world became rich, p 61.

Most recently, Noel D. Johnson and Mark Koyama, ‘States and economic growth: capacity and constraints’, Explorations in Economic History 64 (2017), 1–20, at 3. The reference to Chang is Chang, Kicking away the ladder.

Henry Kamen, Early modern European society, 3rd edn (New Haven, CT: Yale University Press, 2021), p 352.

Jared Rubin, Rulers, religion, and riches: why the west got rich and the middle east did not (Cambridge: Cambridge University Press, 2017), p 31.

Joel Mokyr, ‘The past and the future of innovation: some lessons from economic history’, Explorations in Economic History 69 (2018), 13–26, at 15.

For example, Wong, China transformed; Rosenthal and Wong, Before and beyond divergence.

Macchiavelli, The Prince, Ch. 14.

Helmut Walser Smith, Germany: a nation in its time: before, during, and after nationalism, 1500–2000 (New York: Norton, 2022).

Pace psychologist Steven Pinker, The better angels of our nature: why violence has declined (New York: Penguin, 2012), who argues the opposite.

Julius Bernhards von Rohr, Einleitung zur Staats-Klugheit (Leipzig: Martini, 1718), p 550.

See Quentin Skinner, Machiavelli: a very short introduction, new edn (Oxford: Oxford University Press, 2000).

Skinner, ‘Ambrogio Lorenzetti’s Buon Governo frescoes’; Sophus A. Reinert, ‘Achtung! Banditi! An alternate genealogy of the market’, in Rössner (ed), Economic growth and the origins of modern political economy, pp 239–95, reprinted in Reinert, The academy of fisticuffs.

Quentin Skinner, ‘Lorenzetti and the portrayal of virtuous government’, reprinted in Quentin Skinner, Visions of politics, Volume 2: Renaissance virtues (Cambridge: Cambridge University Press, 2004), p 47. On Cicero reception and Republicanism in early modern political economy, see Reinert, Translating empire, Ch. 1; Steve Pincus, ‘Revolution in political economy’, in 1688: the first modern revolution (New Haven, CT: Yale University Press, 2009).

Reinert and Carpenter, ‘German language economic bestsellers’, pp 26–54, at 44; most recently on Schröder, see Vera Keller, ‘Happiness and projects between London and Vienna: Wilhelm von Schröder on the London Weavers’ Riot of 1675, workhouses, and technological unemployment’, History of Political Economy 53:2 (2021), 407–23.

As noted in List, Das nationale System der politischen Ökonomie, Book I (Die Geschichte), Ch. 1 (‘Die Italiener’), 1925 edn (Stuttgart: Cotta, 1925), pp 21–8; Franco Franceschi, ‘Big business for firms and states: silk manufacturing in Renaissance Italy’, Business History Review 94:1 (2020), special issue on ‘Italy and the origins of capitalism’, 95–123; Reinert and Fredona, ‘Political economy and the Medici’, 125–77.

Quoted in Franceschi, ‘Big business for firms and states’, 112.

Ibid., 114–20.

For a deeper historical viewpoint, see, for example, Sophus A. Reinert, ‘The Italian tradition of political economy: theories and policies of development in the semi-periphery of the enlightenment’, in The origins of development economics: how schools of economic thought have addressed development, eds. Jomo K. Sundaram and Erik S. Reinert (London: Zed Books, 2005), pp 24–47.

List, Das nationale System der politischen Ökonomie. On List in a longer intellectual context, see Hont, Jealousy of trade, Introduction; essays in Hagemann, Seiter and Wendler (eds), The economic thought of Friedrich List. General historical works on economic state craft, especially before the Industrial Revolution, include: Edward Miller, ‘Government economic policies’, in Carlo M. Cipolla (ed), The Fontana economic history of Europe, Vol 1: the middle ages (London: Collins, 1992), pp 339–70; Vries, State, economy and the great divergence; Parthasarathi, Why Europe grew rich. On Germany in the early modern period, see, for example, Karl Weidner, Die Anfänge einer staatlichen Wirtschaftspolitik in Württemberg (Stuttgart: Kohlhammer, 1931); Fritz Blaich, Die Wirtschaftspolitik des Reichstags im Heiligen Römischen Reich: ein Beitrag zur Problemgeschichte wirtschaftlichen Gestaltens (Stuttgart: Fischer, 1970); Fritz Blaich, Die Epoche des Merkantilismus (Wiesbaden: Franz Steiner, 1973); Fritz Blaich, ‘Die Bedeutung der Reichstage auf dem Gebiet der öffentlichen Finanzen im Spannungsfeld zwischen Kaiser, Territorialstaaten und Reichsstädten (1495–1679)’, in Aldo De Maddalena and Hermann Kellenbenz (eds), Finanzen und Staatsräson in Italien und Deutschland in der Frühen Neuzeit (Berlin: Duncker & Humblot, 1992), pp 79–112. For early modern Britain, see Anna Gambles, ‘Free trade and state formation: the political economy of fisheries policy in Britain and the United Kingdom, circa 1780–1850’, Journal of British Studies 39:3 (2000), 288–316; Raymond L. Sickinger, ‘Regulation or ruination: parliament’s consistent pattern of mercantilist regulation of the English textile trade, 1660–1800’, Parliamentary History 19:2 (2000), 211–32; William J. Ashworth, Customs and excise: trade, production, and consumption in England, 1640–1845 (Oxford: Oxford University Press, 2003); William J. Ashworth, ‘Bounties, the economy and the state in Britain, 1689–1800’, in Perry Gauci (ed), Regulating the British economy, 1660–1850 (Farnham: Ashgate, 2011); Julian Hoppit, ‘The nation, the state, and the first industrial revolution’, The Journal of British Studies 50:2 (2011), 307–31; C. Dudley, ‘Party politics, political economy, and economic development in early eighteenth-century Britain’, Economic History Review, second series 66:4 (2013), 1084–100; Steve Pincus and James A. Robinson, ‘Wars and state-making reconsidered – the rise of the developmental state’, Annales: Histoire, Sciences Sociales, English edn 71:1 (2016), 9–34; Hoppit, Britain’s political economies. In a wider context, see Vries, ‘Governing growth’; Silvia Conca Messina, A history of states and economic policies in early modern Europe (Abingdon: Routledge, 2019); Ann Coenen, ‘Infant industry protectionism and early modern growth? Evidence from eighteenth-century entrepreneurial petitions in the Austrian Netherlands’, in Rössner (ed), Economic reasons of state, pp 220–38; Peer Vries, ‘Economic reason of state in Qing China. A brief comparative overview’, ibid., pp 204–20; Prasannan Parthasarathi, ‘State formation and economic growth in South Asia, 1600–1800’, ibid., pp 189–203; William J. Ashworth, ‘The demise of regulation and rise of political economy: taxation, industry and fiscal pressure in Britain 1763–1815’, ibid., pp 122–36. Furthermore: Francesca Schinzinger, ‘Wirtschaftspolitik der Habsburger in Neapel 1707–1734’, in Fritz Blaich et al (eds), Die Rolle des Staates für die wirtschaftliche Entwicklung (Berlin: Duncker & Humblot, 1982), pp 143–67; from a history of economic thought perspective, Reinert, Visionary realism; Reinert, How rich countries got rich.

For example, Acemoglu and Robinson, Why nations fail; North and Thomas, The rise of the Western world; North, Wallis and Weingast, Violence and social orders; Stasavage, States of credit. In a more historically nuanced way, see the excellent study by Alejandra Irigoin and Regina Grafe, ‘Bounded Leviathan. Fiscal constraints and financial development in the early modern Hispanic world’, in Questioning credible commitment: perspectives on the rise of financial capitalism, eds. D’Maris Coffman, Adrian Leonard and Larry Neal (Cambridge: Cambridge University Press, 2013), pp 199–227; António Henriques and Nuno Palma, Comparative European institutions and the ‘little divergence’ 1385–1800, CEPR Discussion Paper 14124 (2019).

An oft-quoted study is Drelichman and Voth, Lending to the borrower from hell.

For 20th-century European capitalisms, see Peter Hall, Governing the economy: the politics of state intervention in Britain and France (Oxford: Oxford University Press, 1986); and for a narratological approach, Jim Tomlinson, Managing the economy, managing the people: narratives of economic life in Britain from Beveridge to Brexit (Oxford: Oxford University Press, 2017).

Eucken, Grundsätze.

Rolf Sprandel, Verfassung und Gesellschaft im Mittelalter (Paderborn: F. Schöningh, 1978); Wolfgang Reinhard, Geschichte der Staatsgewalt: Eine vergleichende Verfassungsgeschichte Europas von den Anfängen bis zur Gegenwart (Munich: C.H. Beck, 1999), pp 52–80, 100–9, 122–4; Martin van Creveld, The rise and decline of the state (Cambridge: Cambridge University Press, 1999), Chs. 2 and 3; Joseph Strayer, On the medieval origins of the modern state, new edn (Princeton, NJ: Princeton University Press, 2005); Michael Mann, The sources of social power, vol 1: a history of power from the beginning to AD 1760, vol 2: the rise of classes and nation-states, 1760–1914 (Cambridge: Cambridge University Press, 2012). A useful survey on the recent and less recent literature on early modern European statehood is Michael Gal, ‘Der Staat in historischer Sicht. Zum Problem der Staatlichkeit in der Frühen Neuzeit’, Der Staat 54:2 (2015), 241–66; and on political theory of the early modern state, apart from works by Quentin Skinner to be discussed later, Cornel Zwierlein, Politische Theorie und Herrschaft in der Frühen Neuzeit (Göttingen: Vandenhoeck & Ruprecht, 2020).

Acemoglu and Robinson, Why nations fail. Further to the literature already quoted, see Greg Anderson, ‘Was there any such thing as a non-modern state?’, in John L. Brooke, Julia C. Strauss and Greg Anderson (eds), State formations: global histories and cultures of statehood (Cambridge: Cambridge University Press, 2018), pp 58–72; Quentin Skinner, ‘On the person of the state’, ibid., pp 23–44.

Von Schmoller, The mercantile system and its historical significance; Karl Bücher, Die Entstehung der Volkswirtschaft, 4th edn (Tübingen: Laupp, 1904), pp 101–74; Schabas, The natural origins of economics; Sophus A. Reinert, ‘“One will make of political economy … what the Scholastics did with Philosophy”: Henry Lloyd and the mathematization of economics’, History of Political Economy 34:4 (2007), 643–77; Alexandra Gittermann, Die Ökonomisierung des politischen Denkens: Neapel und Spanien im Zeichen der Reformbewegungen des 18. Jahrhunderts unter der Herrschaft Karls III (Stuttgart: Franz Steiner, 2008); Magnusson, The political economy of mercantilism; Kaplan and Reinert (eds), The economic turn.

Tom Scott, The city-state in Europe, 1000–1600: hinterland, territory, region (Oxford: Oxford University Press, 2014); Patrick Lantschner, ‘City states in the later medieval Mediterranean world’, Past & Present 254:1 (2022), 3–49.

Peter Blickle, Deutsche Untertanen: ein Widerspruch (Munich: Beck, 1981).

Wieland Held, Zwischen Marktplatz und Anger: Stadt-Land-Beziehungen im 16. Jahrhundert in Thüringen (Weimar: Böhlau, 1988); Scott, Society and economy in Germany, pp 132–37, 142–53.

Luca Scholz, Borders and freedom of movement in the Holy Roman Empire (Oxford: Oxford University Press, 2020).

Stephan R. Epstein and Maarten Prak (eds), Guilds, innovation and the European economy, 1400–1800 (Cambridge: Cambridge University Press, 2010); Ogilvie, European guilds: an economic analysis.

Scott, The city-state in Europe. Outside Germany there were a few proverbial exceptions: republics that attracted the attention of contemporaries and posterity alike included the United Provinces (the Netherlands, which formally remained part of the Empire until 1648/50), the Cromwellian interregnum during the British Civil Wars or the Swiss Confederation. Their political economies emphasized individual and corporate liberties, often with productivity and income levels far exceeding the European average. Both the Swiss Republic as well as the United Provinces remained formally part of the Holy Roman Empire until 1648/50. See André Holenstein, Thomas Maissen and Maarten Prak (eds), The Republican alternative: the Netherlands and Switzerland compared (Amsterdam: Amsterdam University Press, 2008); Weststijn, Commercial republicanism in the Dutch golden age; Thomas Maissen, Die Geburt der Republic: Staatsverständnis und Repräsentation in der frühneutzeitlichen Eidgenossenschaft (Göttingen: Vandenhoeck & Ruprecht, 2014); John Pocock, The Machiavellian moment: Florentine political thought and the Atlantic republican tradition (Princeton, NJ: Princeton University Press, 2016).

Heinz Schilling, Höfe und Allianzen: Deutschland 1648–1763 (Berlin: Siedler, 1989), pp 140–4; Rubin, Rulers, religion, and riches.

Helmut Neuhaus, Das Reich in der Frühen Neuzeit, 2nd edn (Munich: Oldenbourg, 2003).

Gerhard Köbler, Historisches Lexikon der deutschen Länder: Die deutschen Territorien vom Mittelalter bis zur Gegenwart, 8th edn (Munich: Beck, 2019); for comparison: Thomas Ertman, Birth of the Leviathan: building states and regimes in medieval and early modern Europe (Cambridge: Cambridge University Press, 2011). Major recent English-language surveys on the Holy Roman Empire include Hagen, German history in modern times; Whaley, Germany and the Holy Roman Empire; Wilson, The Holy Roman Empire.

Neuhaus, Das Reich in der Frühen Neuzeit, pp 91–5. With some remarks on currency and economic policy on imperial circle basis, Winfried Dotzauer, Die deutschen Reichskreise in der Verfassung des alten Reiches und ihr Eigenleben (1500–1806) (Darmstadt: Wissenschaftliche Buchgesellschaft, 1989); Konrad Schneider, ‘Zur Tätigkeit der Generalwardeine des Oberrheinischen Reichskreises, vornehmlich im 18. Jahrhundert’, Jahrbuch für westdeutsche Landesgeschichte 17 (1991), 95–128. Winfried Dotzauer, Die deutschen Reichskreise (1383–1806): Geschichte und Aktenedition (Stuttgart: Franz Steiner, 1998); Peter Claus Hartmann, ‘Rolle, Funktion und Bedeutung der Reichskreise im Heiligen Römischen Reich deutscher Nation’, in Wolfgang Wüst (ed), Reichskreis und Territorium: Die Herrschaft über der Herrschaft? Supraterritoriale Tendenzen in Politik, Kultur, Wirtschaft und Gesellschaft: Ein Vergleich süddeutscher Reichskreise (Stuttgart: Thorbecke, 2000), pp 27–37; Thomas Nicklas, Macht oder Recht: frühneuzeitliche Politik im Obersächsischen Reichskreis (Stuttgart: Franz Steiner, 2002); Lars Boerner and Oliver Volckart, ‘The utility of a common coinage: currency unions and the integration of money markets in late Medieval Central Europe’, Explorations in Economic History 48:1 (2011), 53–65.

Schilling, Höfe und Allianzen, p 118–19; Blaich, Die Wirtschaftspolitik des Reichstags. On monetary policy, see Oliver Volckart, Eine Währung für das Reich: Die Akten der Münztage zu Speyer 1549 und 1557 (Stuttgart: Franz Steiner, 2017).

Bog, Der Reichsmerkantilismus.

On monetary issues as an integrating factor in imperial politics, see Oliver Volckart, ‘The dear old Holy Roman Realm: how does it hold together? Monetary policies, cross-cutting cleavages and political cohesion in the age of Reformation’, German History 38:4 (2020), 365–86.

See J. Törzsök, Friendly advice by Nārāyaṇa & ‘King Vikrama’s adventures (New York: NYU Press, 2007), p 323. I am indebted to Harald Wiese (Leipzig) for providing this reference.

Both quotes from an unpublished working paper courtesy of Prof Harald Wiese, Universität Leipzig.

Aquinas, On Kingship, to the King of Cyprus (De regno [De regimine principum), ad regem Cypri),(1267) Ch. 15: ‘Est tamen praeconsiderandum quod gubernare est, id quod gubernatur, convenienter ad debitum finem perducere. Sic etiam navis gubernari dicitur dum per nautae industriam recto itinere ad portum illaesa perducitur. Si igitur aliquid ad finem extra se ordinetur, ut navis ad portum, ad gubernatoris officium pertinebit non solum ut rem in se conservet illaesam, sed quod ulterius ad finem perducat. Si vero aliquid esset, cuius finis non esset extra ipsum, ad hoc solum intenderet gubernatoris intentio ut rem illam in sua perfectione conservaret illaesam’. https://www.corpusthomisticum.org/orp.html

Aquinas, De Regno, Ch. 16.

From a development perspective, see Reinert and Carpenter, ‘German language economic bestsellers’; Erik S. Reinert, ‘Italy and the birth of development economics’, in Erik S. Reinert, Jayati Ghosh and Rainer Kattel (eds), Elgar handbook of alternative theories of development (Cheltenham: Edward Elgar, 2016), pp 3–42, at p 15. See also brief remarks on Fürstenspiegel and later economic policies, John McGovern, ‘The rise of new economic attitudes – economic humanism, economic nationalism – during the later middle ages and the Renaissance, ad 1200–1550’, Traditio 26 (1970), 217–53; Cary C. Nederman, ‘The monarch and the marketplace: economic policy and royal finance in William of Pagula’s Speculum regis Edwardi III’, History of Political Economy 33:1 (2001), 51–69; Lars Magnusson, Nation, state and the industrial revolution: the visible hand (Abingdon: Routledge, 2009).

‘Gegen die Armen seidt freigebig es ist auch Christi befell, dadurch Samlet Ihr Euch einen vnuergencklichen Schatz im himmell, welchen keine motten oder Rust fressen, oder diebe nach graben werden’, Politisches Testament des Großen Kurfürsten (19 Mai 1667), printed in Richard Dietrich (ed), Die politischen Testamente der Hohenzollern (Cologne: Böhlau, 1986), pp 179–204.

Deuteronomy 17:17 (Old Testament, 5 Moses). On Deuteronomy as one of the earliest ‘princes mirrors’, see Stuart Lasine, ‘Samuel-Kings as a mirror for princes: parental education and Judean royal families’, Scandinavian Journal of the Old Testament: An International Journal of Nordic Theology 34:1 (2020), 74–88, at 76.

As I have argued in Rössner, ‘Burying money’.

See, for example, Sascha O. Becker, Steven Pfaff and Jared Rubin, ‘Causes and consequences of the Protestant Reformation’, Explorations in Economic History 62 (2016), 1–25; Davide Cantoni, Jeremiah Dittmar and Noam Yuchtman, ‘Religious competition and reallocation: the political economy of secularization in the Protestant Reformation’, Quarterly Journal of Economics 133:4 (2018), 2036–96; Jeremiah E. Dittmar and Ralf R. Meisenzahl, ‘Public goods institutions, human capital, and growth: evidence from German history’, The Review of Economic Studies 87:2 (2020), 959–96.

On primitive or original accumulation, see Marx, Kapital, Vol I; Yazdani and Mohajer, ‘Reading Marx in the divergence debate’; for a Foucauldian reading of 18th-century market governmentality, see Harcourt, The illusion of free markets.

A concise synopsis can be found in Jonsson, ‘The origins of cornucopianism’; and in a forthcoming book which I have had the pleasure reading in draft: Jonsson and Wennerlind, Scarcity.

James VI, Basilikon Doron or His Majesties Instrvctions To His Dearest Sonne, Henry the Prince (Edinburgh, 1599). I have used the online edition on: www.stoics.com/basilikon_doron.html#‘Merchants1 (last accessed 17 January 2022). On the Basilikon Doron, its use in politics and public discourse and intended authorship, see James Doelman, ‘“A King of Thine Own Heart”: the English reception of King James VI and I’s Basilikon Doron, The Seventeenth Century 9:1 (1994), 1–9.

Ibid.

https://digi20.digitalesammlungen.de/de/fs1/object/display/bsb00046070_00140.html, p 142 (Latin), p 143 (German translation).

Erasmus, Institutio Principis Christiani, Ch 4. On money in the age of Erasmus, see, for example, John Munro, ‘The coinages and monetary policies of Henry VIII’, in The collected works of Erasmus: Correspondence, Vol 14: Letters 1926 to 2081 (1528), eds. Charles Fantazzi and James Estes (Toronto: University of Toronto Press, 2011), pp 423–76, at p 441, for Erasmus’s transactions and correspondence with his banker, Erasmus Schetz.

Rössner, Deflation – Devaluation – Rebellion, Ch. 4.

Monetary data in Thomas J. Sargent and François R. Velde, The big problem of small change (Princeton, NJ: Princeton University Press, 2002).

Johann Heinrich Gottlob Justi, Grundfeste zur Macht und Glückseligkeit der Staaten Vol 1 (Königsberg: Hartungs Erben, 1760), p 602.

On England, see Early Modern Research Group, ‘Commonwealth: the social, cultural, and conceptual contexts of an early modern keyword’, The Historical Journal 54:3 (2011), 659–87, at 663–6.

Martha Howell, ‘Whose “common good”? Parisian market regulation, c.1300–1800’, in Simon Middleton and James E. Shaw (eds), Market ethics and practices, c.1300–1850 (Abingdon: Routledge, 2017), pp 46–62, at p 47.

Peter Blickle, ‘Der Gemeine Nutzen. Ein kommunaler Wert und seine politische Karriere’, in Herfried Münkler and Harald Bluhm (eds), Forschungsberichte der interdisziplinären Arbeitsgruppe ‘Gemeinwohl und Gemeinsinn’ der Berlin-Brandenburgischen Akademie der Wissenschaften, Vol 1: Gemeinwohl und Gemeinsinn: Historische Semantiken politischer Leitbegriffe (Berlin: Akademie, 2001), pp 85–107.

Peter Hibst, ‘Begriffsgeschichtliche Untersuchungen zur politischen Theorie vom 5. vorchristlichen bis zum 15. nachchristlichen Jahrhundert’, Archiv für Begriffsgeschichte 33 (1990), 60–95; Blickle, ‘Der Gemeine Nutzen’.

Gaismair’s revolutionary reform programme is printed in Günther Franz (ed), Quellen zur Geschichte des Bauernkrieges (Darmstadt: Wissenschaftliche Buchgesellschaft, 1963), no. 92. Interpretation in Siegfried Hoyer, ‘Die Tiroler Landesordnung des Michael Gaismair. Überlieferung und zeitgenössische Einflüsse’, in Fridolin Dörrer (ed), Die Bauernkriege und Michael Gaismair (Innsbruck: Tiroler Landesarchiv, 1982), pp 67–78; Tom Scott, ‘The Reformation and modern political economy: Luther and Gaismair compared’, in Thomas A. Brady (ed), Die deutsche Reformation zwischen Spätmittelalter und Früher Neuzeit (Munich: Oldenbourg, 2001), pp 173–202; Blickle, Die Revolution von 1525, for example, pp 199, 215, 223–5, 289–90.

Thomas Simon, ‘Gemeinwohltopik in der mittelalterlichen und frühneuzeitlichen Politiktheorie’, in Münkler and Bluhm (eds), Forschungsberichte, pp 129–46, at p 129; Blickle, ‘Der Gemeine Nutzen’, p 102.

Early Modern Research Group, ‘Commonwealth’, 666; Phil Withington, The politics of commonwealth: citizens and freemen in early modern England (Cambridge: Cambridge University Press, 2005); M.S. Kempshall, The common good in late medieval political thought (Oxford: Clarendon Press, 2006).

Reinert, ‘Economic bestsellers’, pp 44–9; Raskov, ‘Cameralism in eighteenth-century Russia’.

See Adam, The political economy of J.H.G. Justi; Jürgen Backhaus, Ulrich Adam and Erik S. Reinert, ‘Introduction’, in Backhaus (ed), The beginnings of political economy; a bio-bibliography of Justi in Reinert, Visionary realism, Ch. 5. Most recently, see an unpublished PhD thesis by Zhao, The political economy of Johann Heinrich Gottlob von Justi (1717–1771). See further works and references in Chs. 1 and 2.

List, Das nationale System, p 9; Ulrich Engelhardt, ‘Zum Begriff der Glückseligkeit in der kameralistischen Staatslehre des 18. Jahrhunderts (J.H.G. von Justi)’, Zeitschrift für historische Forschung 8 (1981), 37–79; Adriana Luna Fabritius, ‘The secularization of happiness in early eighteenth-century Italian political thought: revisiting the foundations of civil society’, in László Kontler and Mark Somos (eds), Trust and happiness in the history of European political thought (Leiden: Brill, 2017), pp 169–95; on an Italian context, Federico D’Onofrio, ‘On the concept of “felicitas publica” in eighteenth-century political economy’, Journal of the History of Economic Thought 37:3 (2015), 449–71; Darrin McMahon, Happiness: a history (New York: Grove Press, 2006), for a broader conceptual history of ‘happiness’.

On cameralism and Medicinalpolicey, see Torsten Grumbach, Kurmainzer Medicinalpolicey 1650–1803: Eine Darstellung entlang der landesherrlichen Verordnungen (Frankfurt-am-Main: Klostermann, 2006).

Johann Heinrich (von) Justi, Kurzer systematischer Grundriß aller ökonomischen und Kameralwissenschaften (1761), reprinted in Burkhardt and Priddat (eds), Geschichte der Ökonomie, pp 216–324.

See Backhaus (ed), Beginnings, ‘Introduction’, pp 1–18; Reinert and Carpenter, ‘German language economic bestsellers’, pp 44–50; Seppel and Tribe (eds), Cameralism in practice.

Fabritius, ‘The secularization of happiness’; Engelhardt, ‘Zum Begriff der Glückseligkeit’.

Sandl, ‘Development as possibility’; Engelhardt, ‘Zum Begriff der Glückseligkeit’, 41–2; Mary Lindemann, ‘“A political fiat lux”: Wilhem von Schroeder (1640–1688) and the co-production of chymical and political oeconomy’, in Sandra Richter and Guillaume Garner (eds), ‘Eigennutz’ und ‘gute Ordnung’: Ökonomisierungen der Welt im 17. Jahrhundert (Wiesbaden: Harrassowitz, 2016), pp 353–78; Vera Keller, ‘Perfecting the state: alchemy and oeconomy as academic forms of knowledge in early modern German-speaking lands’, in Mary Lindemann and Jared Poley (eds), Money in the German-speaking lands (New York: Berghahn, 2017).

Justi, Grundsätze (1782, 3rd edn [1756]), pp 219, 222.

Friedrich-Christoph Förster, Ausführliches Handbuch der Geschichte, Geographie und Statistik der Mark Brandenburg und der dazu gehoerenden Marken Pt. II (Berlin: Christiani, 1824), p123–4.

Politisches Testament des Großen Kurfürsten (19 May 1667), reprinted in Dietrich (ed), Die politischen, pp 179–204.

A German translation of the Antimachiavell is to be found on http://friedrich.uni-trier.de/de/volz/7/text/. On luxury and Smith, see, for example, Terry Peach, ‘Adam Smith’s “optimistic deism”, the invisible hand of providence, and the unhappiness of nations’, History of Political Economy 46:1 (2014), 55–83; Herzog, Inventing the market, Ch. 2.

Frederick the Great, Political Testament (1752), (Berlin: Reclam, 1986) section on Die Einnahmen der Kriegskasse und ihre Verwaltung.

See Introduction. I have extended the argument in Philipp Robinson Rössner, ‘Marx, mercantilism and the Cameralist path to wealth’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 108:2 (2021), 224–54.

This is the argument in Reinert, Visionary realism; Reinert, How rich countries got rich.

See, for example, Mary Rose, ‘The politics of protection: an institutional approach to government – industry relations in the British and United States cotton industries, 1945–73’, Business History 3 (1997), 128–50; Barry Eichengreen, The European economy since 1945: coordinated capitalism and beyond (Princeton, NJ: Princeton University Press, 2008); Jim Tomlinson, ‘Managing decline: the case of Jute’, Scottish Historical Review 90:230 (2011), 57–79; Carlo Joseph Morelli, Jim Tomlinson and Valerie Wright, ‘The managing of competition: government and industry relationships in the jute industry 1957–63’, Business History 54:5 (2012), 765–82, esp. 766–7.

Sverre A. Christensen, ‘Capitalism and state ownership models’, in Casson and Rössner (eds), Evolutions of capitalism: historical perspectives 1200–2000, pp 127–56.

Wilhelm Röpke, Jenseits von Angebot und Nachfrage (Erlenbach/Zürich/Stuttgart: Eugen Rentsch Verlag, 1958); Wilhelm Röpke, Die Lehre von der Wirtschaft, 13th edn (Berne: Haupt, 1994), Ch. 1. On German ordoliberalism, see Keith Tribe, Governing economy: the reformation of German economic discourse, 1750–1840 (Cambridge: Cambridge University Press, 1988); Stefan Kolev, Neoliberale Staatsverständnisse im Vergleich, 2nd edn (Berlin: De Gruyter Oldenbourg, 2017); Stefan Schwarzkopf (ed), Handbook of economic theology (Abingdon: Routledge, 2019); on ordoliberalism’s grounding in Lutheran theology and social theory, Philipp Manow, ‘Ordoliberalismus als ökonomische Ordnungstheologie’, Leviathan, 29:2 (2001), 179–98; Troels Krarup, ‘“Ordo” versus “Ordnung”: Catholic or Lutheran roots of German ordoliberal economic theory?’ International Review of Economics 66 (2010), 305–23.

Henriques and Palma, Comparative European institutions and the little divergence, 1385–1800. For bigger surveys, see Vries, ‘Governing growth’; Vries, State, economy and the great divergence; Messina, History of states and economic policies. For medieval and early modern Europe, also Epstein, Freedom and growth.

Angus Maddison, The world economy: a millennial perspective (OECD, 2000); ‘Maddison Database’, see www.rug.nl/ggdc/historicaldevelopment/maddison/?lang=en. Recent developments are laid out in Jutta Bolt and Jan Luiten van Zanden, ‘Maddison style estimates of the evolution of the world economy. A new 2020 update’, Maddison-Project Working Paper WP-15 (October 2020). On English/British GDP growth since the late Middle Ages, see the collective Stephen Broadberry, Bruce M.S. Campbell et al, British economic growth, 1270–1870 (Cambridge: Cambridge University Press, 2015). Approaches that revolutionized the study of historical national income included Nick F.R. Crafts, British economic growth during the industrial revolution (Oxford: Oxford University Press, 1985), revising an earlier method presented in Phyllis Deane and W.A. Cole, British economic growth 1688–1959: trends and structure, 2nd edn (Cambridge: Cambridge University Press, 1967). Relatively up-to-date figures can be found in Stephen Broadberry and Kevin H. O’Rourke (eds), The Cambridge economic history of modern Europe, 2 vols (Cambridge: Cambridge University Press, 2010); Roderick Floud, Jane Humphries and Paul Johnson (eds), The Cambridge economic history of modern Britain, 3 vols (Cambridge: Cambridge University Press, 2014). Methodological approaches and problems have been discussed, inter alia, in Herman J. Jong and Nuno Palma, ‘Historical national accounting’, in Matthias Blum and Christopher L. Colvin (eds), An economist’s guide to economic history (Cham: Palgrave Macmillan, 2018), pp 395–403; Georg Christ and Philipp Robinson Rössner (eds), History and economic life: a student’s guide to approaching economic and social history sources (Abingdon: Routledge, 2020). See especially Nuno Palma, ‘Historical account books as a source for quantitative history’, in ibid. On the related problem of wages, see the critical account in John Hatcher and Judy Z. Stephenson (eds), Seven centuries of unreal wages: the unreliable data, sources and methods that have been used for measuring standards of living in the past (Cham: Palgrave Macmillan, 2018).

Thomas Piketty, Capital in the twenty-first century (Cambridge, MA: Belknap, 2014).

Kattel and Mazzucato, ‘Mission-oriented innovation policy’; Reinert, How rich countries got rich.

Pat Hudson, The Industrial Revolution, 2nd edn (London: Hodder Arnold, 2005).

For late medieval Germany, Sidney Pollard, Peaceful conquest: the industrialization of Europe, 1760–1970 (Oxford: Oxford University Press, 1981); Wolfgang von Stromer, ‘Gewerbereviere und Protoindustrien in Spätmittelalter und Frühneuzeit’, in Hans Pohl (ed), Gewerbe- und Industrielandschaften vom Spätmittelalter bis ins 20. Jahrhundert (Stuttgart: Franz Steiner, 1986), pp 39–111; Karl Heinrich Kaufhold, ‘Gewerbelandschaften in der Frühen Neuzeit (1650–1800)’, in ibid., pp 112–202.

Paul Krugman, Geography and trade (Cambridge, MA: Leuven University Press & MIT Press, 1991); Marcus Sandl, Ökonomie des Raumes: Der kameralwissenschaftliche Entwurf der Staatswirtschaft im 18. Jahrhundert (Cologne: Böhlau, 1999).

Karl Gunnar Persson, Grain markets in Europe, 1500–1900: integration and deregulation (Cambridge: Cambridge University Press, 2005); Victoria Bateman, Markets and growth in early modern Europe (London: Pickering & Chatto, 2012).

Kula, An economic theory of the feudal system. An excellent recent survey is Cerman, Villagers and lords; for a critical essay on method, Francesco Boldizzoni, The poverty of Clio: resurrecting economic history (Princeton, NJ: Princeton University Press, 2011).

Joseph E. Stiglitz and Justin Lin Yifu (eds), The industrial policy revolution 1: the role of government beyond ideology (Basingstoke: Palgrave Macmillan, 2013), Foreword and Introduction.

A case study is Regina Grafe, Distant tyranny: markets, power and backwardness in Spain, 1650–1800 (Princeton, NJ: Princeton University Press, 2012); Regina Grafe, ‘Polycentric states: the Spanish reigns and the “failures” of mercantilism’, in Stern and Wennerlind (eds), Mercantilism reimagined, pp 241–62.

Schilling, Höfe und Allianzen, p 90.

Moritz Isenmann, ‘From privilege to economic law: vested interests and the origins of free trade theory in France (1687–1701)’, in Rössner (ed), Economic reasons of state.

Grafe, Distant tyranny.

Robert B. Ekelund, Jr and Robert D. Tollison, Mercantilism as a rent-seeking society: economic regulation in historical perspective (Texas: A&M University Press, 1981); Nuala Zahedieh, ‘Regulation, rent-seeking, and the Glorious Revolution in the English Atlantic economy’, Economic History Review 63:4 (2010), 865–90.

Barbara L. Solow and Stanley L. Engerman (eds), British capitalism and Caribbean slavery: the legacy of Eric Williams (Cambridge: Cambridge University Press, 1987); Inikori, Africans and the industrial revolution in England.

On modern railways, the problem of spillover effects and linkages has been discussed inter alia by Robert Fogel, Railroads and American economic growth (Baltimore, MD: Johns Hopkins University Press, 1970); Rainer Fremdling, Eisenbahnen und deutsches Wirtschaftswachstum 1840–1879: Ein Beitrag zur Entwicklungstheorie, 2nd edn (Dortmund: Gesellschaft für Westfälische Wirtschaftsgeschichte e.V., 1985).

Markus Friedrich, Die Geburt des Archivs (Munich: Oldenbourg, 2013); Philipp Müller, ‘Archives and history: towards a history of ‘the use of state archives’ in the 19th century’, History of the Human Sciences 26:4 (2013), 27–49; Alexandra Walsham, ‘The social history of the archive: record-keeping in early modern Europe’, Past & Present 230:S11 (2016), 9–48; Arlette Farge, The allure of the archives (Princeton, NJ: Princeton University Press, 2017).

Eucken, Grundsätze, pp 334–7.

Frederick Chapin Lane, ‘The role of governments in economic growth in early modern times’, Journal of Economic History 35 (1975), 8–17, at 10–11.

Frederick Chapin Lane, Venice and history: the collected papers of Frederic C. Lane, new edn (Baltimore, MD: Johns Hopkins University Press, 2020), nos. 22–4; Acemoglu and Robinson, Why nations fail; Acemoglu and Robinson, Narrow corridor.

For 17th-century fairs and economic planning by the Scottish Parliament, see Ian D. Whyte, ‘The growth of periodic market centres in Scotland, 1600–1707’, Scottish Geographical Magazine 95 (1979), 13–26; Gordon Marshall, Presbyteries and profits: Calvinism and the development of capitalism in Scotland, 1560–1707 (Edinburgh: Edinburgh University Press, 1992).

Oscar Gelderblom, Cities of commerce: the institutional foundations of international trade in the Low Countries, 1250–1650 (Princeton, NJ: Princeton University Press, 2017).

Nipperdey, Die Erfindung der Bevölkerungspolitik. See also Paul Münch, ‘The growth of the modern state’, in Sheilagh Ogilvie (ed), Germany: a new social and economic history, Vol II (London and New York: Arnold, 1996), p 215–16.

Dominik Collet, ‘Storage and starvation: public granaries as agents of food security in early modern Europe’, Historical Social Research 35 (2010), 234–52; Wong, China transformed.

For the German-speaking lands, the fundamental survey is Eberhard Isenmann, Die deutsche Stadt im Mittelalter 1150–1550, new edn (Cologne: Böhlau, 2014). For broader context and interlinkages with medieval social theory and thought, see Joel Kaye, Economy and nature in the fourteenth century: money, market exchange, and the emergence of scientific thought (Cambridge: Cambridge University Press, 1998); Wood, Medieval economic thought; James Davis, Medieval market morality: life, law and ethics in the English marketplace, 1200–1500 (Cambridge: Cambridge University Press, 2011).

Methodological sections and chapters in Hans-Jürgen Gerhard and Alexander Engel, Preisgeschichte der vorindustriellen Zeit: Ein Kompendium auf Basis ausgewählter Hamburger Materialien (Stuttgart: Franz Steiner, 2006); Hans-Jürgen Gerhard, Wesen und Wirkung vorindustrieller Taxen: Preishistorische Würdigung einer wichtigen Quellengattung (Stuttgart: Franz Steiner, 2012); Jan de Vries, The price of bread: regulating the market in the Dutch Republic (Cambridge: Cambridge University Press, 2019).

Pomeranz, Great divergence, Chs. 2, 4; Wong, China transformed; discussion in Vries, State, economy and the great divergence, pp 347–50.

Schumpeter, History of economic analysis.

Becher, Politischer. On Becher, see respective sections in Burkhardt and Priddat, Geschichte der Ökonomie; Herbert Hassinger, Johann Joachim Becher, 1635–1682: Ein Beitrag zur Geschichte des Merkantilismus (Vienna: Holzhausen, 1951); Smith, The business of alchemy.

Nina Ellinger Bang and Knud Korst (eds), Tabeller over Skibsfart og Varetransport gennem Øresund 1661–1783 og gennem Storebælt 1701–1748, Vol 1.1 (Copenhagen: Gyldendal, 1939), Vol 1.2 (Copenhagen: Gyldendal, 1945); Ralph Davis, ‘English foreign trade, 1700–1774’, Economic History Review, 2nd series, XV (1962), 285–303; Ralph Davis, British overseas trade: from 1700 to the 1930s (Oxford: Blackwell, 1952); Ralph Davis, ‘English foreign trade, 1660–1700’, Economic History Review, 2nd series, VI (1954), 150–66; E.M. Carus Wilson and Olive Coleman, England’s export trade, 1275–1547 (Oxford: Clarendon Press, 1963); Sven Erik Åström, From cloth to iron: the Anglo-Baltic trade in the late seventeenth century, pt. II: the customs accounts as sources for the study of the trade (Helsingfors: Societas Scientiarum Fennica, 1965); Jürgen Schneider, Otto-Ernst Krawehl and Markus A. Denzel (eds), Statistik des Hamburger seewärtigen Einfuhrhandels im 18. Jahrhundert: Nach den Admiralitätszoll- und Convoygeld-Einnahmebüchern (St Katharinen: Scripta Mercaturae Verlag, 2001); Martin Rorke, ‘English and Scottish overseas trade, 1300–1600’, Economic History Review, 2nd series, 59:2 (2006), 265–88; Philipp Robinson Rössner, Scottish trade in the wake of union (1700–1760): the rise of a warehouse economy (Stuttgart: Franz Steiner, 2008), Ch. 2; Werner Scheltjens, North Eurasian trade in world history, 1660–1860: the economic and political importance of the Baltic Sea (Abingdon: Routledge, 2021); more recent research with Dutch and Danish (digitized) Sound Toll records, see Jan Willem Veluwenkamp and Werner Scheltjens (eds), Early modern shipping and trade: novel approaches using sound toll registers online (Leiden: Brill, 2018).

A.J. Durie, The Scottish linen industry in the eighteenth century (Edinburgh: John Donald, 1979).

Lars Behrisch, Die Berechnung der Glückseligkeit: Statistik und Politik in Deutschland und Frankreich im späten Ancien Régime (Ostfildern: Thorbecke, 2016); Deringer, Calculated values.

Christopher Hill, The century of revolution (London: Routledge Classics, 2001).

For the Scottish linen industry, see Durie, Scottish linen industry. For post-1763 Saxony, Karin Zachmann, ‘Kursächsischer Merkantilismus’, in Günter Bayerl and Ulrich Troitzsch (eds), Sozialgeschichte der Technik: Ulrich Troitzsch zum 60. Geburtstag (Münster: Waxmann, 1998), pp 121–30, at p 127.

Reinert, ‘Role of the state’; Reinert, Visionary realism.

Ibid.; Barry Supple, ‘The state and the industrial revolution’, in C.M. Cipolla (ed), The Fontana economic history of Europe, Vol 3 (London: Collins, 1973), pp 305–13.

For 18th-century Flanders (Austrian Netherlands), see Coenen, ‘Infant industry protectionism and early modern growth?’; for the Kingdom of Naples, also under Habsburg rule, Schinzinger, ‘Wirtschaftspolitik der Habsburger’; for the Austrian Empire, Kaps, ‘Cores and peripheries reconsidered’; Mária Hidvégi, ‘Land, people and the unused economic potential of Hungary: knowledge transfer in the context of cameralism and statistics, 1790–1848’, History of Political Economy 53:3 (2021), 571–94.

Miller in Cipolla (ed), Fontana economic history of Europe 1, pp 362, 365. See also Peter Spufford, Monetary problems and policies in the Burgundian Netherlands 1433–1497 (Leiden: Brill, 1970); John H. Munro, Wool, cloth and gold: the struggle for bullion in Anglo-Burgundian trade, 1340–1478 (Bruxelles: University of Toronto Press, 2020).

Bog, Reichsmerkantilismus.

A fresh interpretation of Justi’s system can be found in Zhao, ‘Public happiness through manufacturing and innovation’.

Brisco, The economic policy of Robert Walpole; Rössner, Scottish trade in the wake of Union, Ch. 2, Appendix; Parthasarathi, Why Europe grew rich.

Werner Sombart, Der moderne Kapitalismus, 4th edn, Vols I and II (Munich: Duncker & Humblot, 1927).

For example, Gunner Lind, ‘Early military industry in Denmark-Norway, 1500–1814’, Scandinavian Journal of History 38:4 (2013), 405–42.

Stadtarchiv Leipzig, Titularakten, XLIV; Grumbach, Kurmainzer Medicinalpolicey.

On brokers, see Gelderblom, Cities of commerce; on the early modern fairs of Bolzano/Bozen, Markus A. Denzel, ‘Das Maklerwesen auf den Bozner Messen im 18. Jahrhundert’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 96:3 (2009), 297–319.

STA Leipzig Titularakten, XLV/7.

Beater Berger, Bodo Gronemann and Jakuf Pacer (eds), Vom Aderlass zum Gesundheitspass: Zeittafel zur Geschichte des öffentlichen Gesundheitswesens in Leipzig, Leipziger Kalender Sonderband 2000/4 (Leipzig: Leipziger Universitaetsverlag, 2000), pp 6–7, 88–9.

Stenographischer Bericht über die Verhandlungen der bayerischen Kammer der Abgeordneten, 80. Sitzung vom 10. April 1888, 174–5 in STA Leipzig, Acta die Marktordnung betreffend, Vol III, fol. 12ff.

After Sombart, Der moderne Kapitalismus, 3rd edn, Vol I/II, (Munich & Leipzig: Duncker & Humblot, 1919), p 446.

For example, Fernand Braudel, Civilization & capitalism, 15th to 18th century, transl. S. Reynolds, new edn (London: Phoenix, 2002), Vol 2, pp 75–80; Laurence Fontaine, The moral economy: poverty, credit, and trust in early modern Europe (Cambridge: Cambridge University Press, 2014). On retailing, see Jon Stobart and Vicki Howard (eds), The Routledge companion to the history of retailing (Abingdon: Routledge, 2020).

Wood, Medieval economic thought, p 140.

See note 1.

Johann Gottlob Heinrich von Justi, Die Grundfeste zu der Macht und Glückseeligkeit der Staaten (Leipzig & Königsberg: Hartungs Erben, 1760), Vol 1, p 591, referring to antiquity and the proverbial riches of the Phoenicians.

Justi, Grundfeste, I, pp 591–4.

Laurence Fontaine, History of pedlars in Europe (Durham, NC: Duke University Press, 1996).

Sombart, Der moderne Kapitalismus, Vol II/III, 3rd edn, 1919.

Sombart, Der moderne Kapitalismus, Vol I/II, 3rd edn (Munich: Duncker & Humblot, 1919), pp 444–51.

Thomas Nipperdey, Deutsche Geschichte 1866–1918, Vol 2: Machtstaat vor der Demokratie (Munich: Beck, 1992); Dieter Ziegler, ‘Das Zeitalter der Industrialisierung 1815–1914’, in Michael North (ed), Deutsche Wirtschaftsgeschichte: Ein Jahrtausend im Überblick, 2nd edn (Munich: Beck, 2014); Richard H. Tilly and Michael Kopsidis, A history of German industrialisation from the eighteenth century to World War I (Chicago: Chicago University Press, 2020); Wehler, Deutsche Gesellschaftsgeschichte, Vol 3: Von der ‘Deutschen Doppelrevolution’ bis zum Beginn des Ersten Weltkrieges 1849–1914.

Sidney Pollard, Region und Industrialisierung: Studien zur Rolle in der Wirtschaftsgeschichte der letzten zwei Jahrhunderte (Göttingen: Vandenhoeck & Ruprecht, 1980); Hubert Kiesewetter, Region und Industrie in Europa 1815–1995 (Stuttgart: Franz Steiner, 2009); Siemaszko, Das oberschlesische Eisenhüttenwesen.

Frank Trentmann, Free trade nation: commerce, consumption, and civil society in modern Britain (Oxford: Oxford University Press, 2009).

Fontaine, History of pedlars.

Stenographischer Bericht über die Verhandlungen der bayerischen Kammer der Abgeordneten, 80. Sitzung vom 10. April 1888, p 178.

Stenographischer Bericht über die Verhandlungen der bayerischen Kammer der Abgeordneten, 263. Sitzung vom 29 April 1892, p 509.

Ibid., p 508.

Stenographischer Bereicht über die Verhandlungen der bayerischen Kammer der Abgeordneten, 201. Sitzung vom 17. Dezember 1891, p 578–9.

Stenographischer Bericht über die Verhandlungen der bayerischen Kammer der Abgeordneten, 110. Sitzung vom 4. Dezember 1889, pp 408–9, 412–15.

In 1879, taxes on peddling had been increased, with the aim of pricing this activity out of the market.

Report of the Bavarian state minister for domestic affairs Freiherr von Feilitzsch, see Stenographischer Bericht über die Verhandlungen der bayerischen Kammer der Abgeordneten, 80. Sitzung vom 10. April 1888, pp 182–3.

Stenographischer Bereicht über die Verhandlungen der bayerischen Kammer der Abgeordneten, 110. Sitzung vom 4. Dezember 1889, p 414–15.

Richard Britnell, ‘The proliferation of markets in England, 1200–1349’, Economic History Review, 2nd series, 33 (1981), 209–21; Richard Britnell, ‘Local trade, remote trade: institutions, information and market integration 1050–1330’, in Fiere e mercati nella integrazione delle economie europee, sec. XIII–XVIII, ed. S. Cavaciocchi, Atti delle Settimane di Studi e altri Convegni 32 (Florence: Le Monnier, 2001), pp 185–203; with a systematic list and charts, Samantha Letters et al, Gazetteer of markets and fairs in England and Wales to 1516 (Kew: List and Index Society, 2003), Vol I. The classic story is in Fernand Braudel, Civilisation and capitalism, (London: Phoenix 1984), Vol 1 (system of markets) and Vol 3 (discussion of capitalist world systems).

See, for example, Reinhart Koselleck, Preussen zwischen Reform und Revolution: Allgemeines Landrecht, Verwaltung und soziale Bewegung von 1791 bis 1848 (Stuttgart: Klett, 1967); Wolfgang von Hippel, Die Bauernbefreiung im Königreich Württemberg (Boppard: Boldt, 1977); Jerome Blum, The end of the old order in rural Europe (Princeton, NJ: Princeton University Press, 1978); Christof Dipper, Die Bauernbefreiung in Deutschland, 1790–1850 (Stuttgart: Kohlhammer, 1980); Thomas Nipperdey, Deutsche Geschichte 1800–1866: Bürgerwelt und starker Staat (Munich: Beck, 1998).

The literature on guilds is large, but good overviews – with occasional controversies – can be found in Sheilagh Ogilvie, ‘Whatever is, is right’? Economic institutions in pre-industrial Europe’, Economic History Review, 2nd series, 60:4 (2007), 649–84; Kluge, Die Zünfte; Epstein and Prak (eds), Guilds, innovation and the European economy; Ogilvie, Institutions and European trade: merchant guilds, 1000–1800; Ogilvie, The European guilds: an economic analysis.

Stenographischer Bericht über die Verhandlungen der bayerischen Kammer der Abgeordneten, 80. Sitzung vom 10. April 1888, p 178.

Hermann Wopfner (ed), Acta Tirolensia: Urkundliche Quellen zur Geschichte Tirols, Vol 3 – Quellen zur Geschichte des Bauernkriegs in Deutschtirol 1525, (Innsbruck: Scientia, 1908).

James Davis, Medieval market morality: life, law and ethics in the English marketplace, 1200–1500 (Cambridge: Cambridge University Press, 2014), p 8.

STA Leipzig, Tit. LIV.7, S.E. Hochw: Raths der Stadt Leipzig Ordnung Wie sich auf dem öffentlichen Marckte … (1726), printed, pp 5–6, and a lengthy section, Vom Aufkauff und Höckerey, pp 39–44.

STA Leipzig, Tit. LIV.17, f. 50 (new pagination), Specification (1654).

STA Leipzig, Tit. LIV.7, S.E. Hochw: Raths der Stadt Leipzig Ordnung Wie sich auf dem öffentlichen Marckte … (1726), printed, pp 5–6, and a lengthy section, Vom Aufkauff und Höckerey, pp 21, 30, 44.

On modern market design theory, see Alvin E. Roth, Who gets what – and why: understand the choices you have, improve the choices you make (New York: Harper Collins, 2016).

For example, Howell, Commerce before capitalism.

Stanziani, Rules of exchange, p 21.

Popularized in writings such as Wilhelm Röpke, Jenseits von Angebot und Nachfrage, 4th edn (Erlenbach-Zürich: Rentsch, 1966), but also his textbooks such as Die Lehre von der Wirtschaft, 13th edn (Bern: Haupt, 1994), Ch. 1, where the market is portrayed as an enigma of controlled anarchy – similar to the providential argument of ‘invisible hand’. On German Ordoliberalism and its wider place in 20th-century neoliberalism and mainstream economics and Hayek, see the excellent account in Kolev, Neoliberale Staatsverständnisse im Vergleich. On providence, Ordoliberals, neoliberalism and economic theology, see various contributions to Schwarzkopf (ed), Routledge handbook of economic theology, and, recently, James, The war of words, Ch. 12 on ‘neoliberalism’.

Persson, Grain markets in Europe; Michaela Fenske, Marktkultur in der Frühen Neuzeit: Wirtschaft, Macht und Unterhaltung auf einem städtischen Jahr- und Viehmarkt (Cologne/Vienna/Weimar: Böhlau, 2006); Gary M. Feinman and Christopher P. Garatty, ‘Preindustrial markets and marketing: archaeological perspectives’, Annual Review of Anthropology 39 (2010), 167–91; Mark Casson and John S. Lee, ‘The origin and development of markets: a business history perspective’, Business History Review 85:1 (2011), 9–37; R.J. van der Spek, Bas van Leeuwen and Jan Luiten van Zanden (eds), A history of market performance: from ancient Babylonia to the modern world (Abingdon: Routledge, 2015), Introduction; Victoria N. Bateman, Markets and growth in early modern Europe (Abingdon: Routledge, 2016); Bas van Bavel, The invisible hand? How market economies have emerged and declined since AD 500 (Oxford: Oxford University Press, 2016); Tanja Skambraks, Julia Bruch and Ulla Kypta (eds), Markets and their actors in the late middle ages (Berlin: De Gruyter, 2021).

Paul Johnson, Making the market: Victorian origins of corporate capitalism (Cambridge: Cambridge University Press, 2013), p 18.

Mark Casson, ‘The market as an institution’, in Casson and Rössner (eds), Evolutions of capitalism: historical perspectives: 1200–2000, pp 29–53. For an historical application, Epstein, Freedom and growth.

Piketty, Capital in the twenty-first century; for preindustrial inequality, see, for example, Jan Luiten van Zanden, ‘Tracing the beginning of the Kuznets curve: Western Europe during the early modern period’, Economic History Review, New series, 48:4 (1995), 643–64; Guido Alfani and Matteo di Tullio, The lion’s share: inequality and the rise of the fiscal state in preindustrial Europe (Cambridge: Cambridge University Press, 2019).

See Chapter 1.

Eugene McCarraher, The enchantments of Mammon: how capitalism became the religion of modernity (Cambridge, MA: Belknap, 2019).

A ‘substantivist’ interpretation was offered in Polanyi, The great transformation; in a recent historian’s view: Fontaine, Moral economy; a classic remains E.P. Thompson, ‘The moral economy of the English crowd in the eighteenth century’, Past & Present 50 (1971), 76–136; Howell, Commerce before capitalism; a recent summary of substantivist and alternative models is provided in Chris Hann and Keith Hart, Economic anthropology (Cambridge: Polity Press, 2011); Keith Hart, Jean-Louis Laville and Antonio David Cattani (eds), The human economy: a citizen’s guide (Cambridge: Polity Press, 2011).

Davis, Medieval market morality, p 140; Fenske, Marktkultur in der Frühen Neuzeit.

Witold Kula, Economic theory of the feudal system, new edn (London: Verso, 1986).

Francesca Trivellato, ‘The moral economies of early modern Europe’, Humanity: An International Journal of Human Rights, Humanitarianism, and Development 11:2 (2020), 193–201, at 199.

Catherine Casson, Mark Casson, John S. Lee and Katie Phillips, Compassionate capitalism: business and community in medieval England (Bristol: Bristol University Press, 2021). On early 16th-century German political economy and markets, see Gustav (von) Schmoller, ‘Zur Geschichte der national-ökonomischen Ansichten in Deutschland während der Reformations’; Roscher, Geschichte der Nationaloekonomik in Deutschland; Rössner, Martin Luther on commerce and usury, Introduction.

Arguing against that myth, for example, Harcourt, The illusion of free markets; Stanziani, Rules of exchange; Johnson, Making the market.

Steven L. Kaplan, Bread, politics and political economy in the reign of Louis XV, new edn (London: Anthem, 2015); De Vries, The price of bread.

On civic or civil economy, Luigino Bruni and Stefano Zamagni, Civil economy: efficiency, equity, public happiness (Bern: Peter Lang, 2007), Chs. 1, 4; and the more emotive Luigino Bruni and Stefano Zamagni, Civil economy (Newcastle upon Tyne: Agenda Publishing, 2016), Ch. 2.

Paul Seabright, The company of strangers: a natural history of economic life, 2nd edn (Princeton, NJ: Princeton University Press, 2010).

See Chapters 1 and 2 and Introduction.

Rössner, Luther on commerce and usury.

Maren Jonasson, Pertti Hyttinen and Lars Magnusson (eds) Anticipating the wealth of nations: the selected works of Anders Chydenius, 1729–1803 (Abingdon: Routledge, 2012), pp 124–5.

Smith, Theory of moral sentiments (1759); Smith, Wealth of nations (1776); Bruni and Zamagni, Civil economy, Ch. 4.

Scott, Society and economy in Germany, pp 113–15. On capitalism taking hold in Upper Germany, based on the dynamics of such regulation – and regulatory competition between towns – see Henry Heller, The birth of capitalism: a twenty-first-century perspective (New York: Pluto Press, 2011), pp 61–71. The classic stadial model of city economy morphing into territorial and then nationally integrated market economies (Volkswirtschaft) is Karl Bücher, Die Entstehung der Volkswirtschaft (Tübingen: Laupp, 1893), pp 1–79, esp. pp 44ff. The literature on late medieval urban–rural market relationships and integration is considerable, not only for the German lands. A most recent survey is Werner Rösener, ‘Schwerpunkte, Probleme und Forschungsaufgaben der Agrargeschichte zur Übergangsepoche vom Mittelalter zur Neuzeit’, in Enno Bünz (ed), Landwirtschaft und Dorfgesellschaft im ausgehenden Mittelalter (Sigmaringen: Jan Thorbecke, 2020), pp 403–37, at pp 409–16. This edited volume also contains a few further indicative studies on late medieval markets and agrarian economies, reflecting the current state of the art in German-speaking academia. Notable studies further include Kießling, ‘Markets and marketing, town and country’. The exhaustive study for Augsburg – a leading financial and industrial city since the late middle ages, which would also come to the forefront of German capitalism around 1500 – is Rolf Kießling, Die Stadt und ihr Land: Umlandpolitik, Bürgerbesitz und Wirtschaftsgefüge in Ostschwaben vom 14. bis ins 16. Jahrhundert (Cologne: Böhlau, 1989). Further indicative works include Tom Scott, Freiburg and the Breisgau: town–country relations in the age of Reformation and peasants’ war (Oxford: Clarendon, 1987); Tom Scott, ‘Economic landscapes’, in Bob Scribner (ed), Germany: a new economic and social history, Vol 1, pp 1–31; for central Germany, see Held, Zwischen Marktplatz und Anger; Franz Mathis, Die deutsche Wirtschaft im 16. Jahrhundert (Munich: Oldenbourg, 1991), pp 34–47.

Epstein, Freedom and growth. For a recent survey of early modern Europe, see Lütge, Die mitteldeutsche Grundherrschaft und ihre Auflösung; Cerman, Villagers and lords; essays in Guillaume Garner, Die Ökonomie des Privilegs, Westeuropa 16.–19. Jahrhundert. L’économie du privilège, Europe occidentale XVI^e–XIX^e siècles (Frankfurt-am-Main: Klostermann, 2016).

For example, Richard Britnell, ‘The proliferation of markets in England, 1200–1349’, Economic History Review, 2nd series, 33 (1981), 209–21; Letters, Gazetteer of markets and fairs, Vol I. For early modern Scotland, Whyte, ‘The growth of periodic market centres in Scotland, 1600–1707’.

Bruce M.S. Campbell, ‘Measuring the commercialisation of seigneurial agriculture c. 1300’, in Richard H. Britnell and Bruce M. S. Campbell (eds), A commercialising economy: England 1086 to c.1300 (Manchester: Manchester University Press, 1995), pp 132–93, at p 133.

Robert P. Wheelersburg, ‘Uma Saami native harvest data derived from Royal Swedish taxation records 1557–1614’, Arctic 44:4 (1991), 337–45, at 339, 344–5.

Epstein, Freedom and growth; Werner Sombart, Der moderne Kapitalismus, 3 vols, 4th edn (Munich: Duncker & Humblot, 1921–27); Heller, Birth of capitalism; Grafe, Distant tyranny.

William D. Grampp, ‘An appreciation of mercantilism’, in Lars Magnusson (ed), Mercantilist economics (Boston, MA: Kluwer, 1993), pp 59–85; Bruce Elmslie, ‘Early English mercantilists and the support of liberal institutions’, History of Political Economy 47:3 (2015), 419–48; Philipp Robinson Rössner, ‘Monetary theory and cameralist economic management, c.1500–1900 ad’, Journal for the History of Economic Thought 40:1 (2018), 99–134. An overview on historians’ models of preindustrial markets can be found in Kaplan, The stakes of regulation.

Keith Tribe, Strategies of economic order: German economic discourse, 1750–1950, new edn (Cambridge: Cambridge University Press, 2007); Mark Casson, Markets and market institutions: their origin and evolution (Cheltenham: Edward Elgar, 2011); Dennis Romano, Markets and marketplaces in medieval Italy, c.1100 to c.1440 (New Haven, CT: Yale University Press, 2015); Keith Tribe, Governing economy: the reformation of German economic discourse 1750–1840, new edn (Newbury: Threshold Press, 2017); Davis, Medieval market morality; Stanziani, Rules of exchange; M. Casson and Lee, ‘Origin and development of markets’; see also Herzog, Inventing the market.

Klaus von Beyme, ‘Historical forerunners of policy analysis in Germany’, in Sonja Blum and Klaus Schubert (eds), Policy analysis in Germany (Bristol: Policy Press, 2013), pp 19–27, at p 22.

Karl Härter and Michael Stolleis (eds), Repertorium der Policeyordnungen der Frühen Neuzeit, Vol 1, Deutsches Reich und geistliche Kurfürstentümer (Kurmainz, Kurköln, Kurtrier) (Frankfurt-am-Main: Klostermann, 1996), pp 1–36, at p 3; Karl Härter, Policey und frühneuzeitliche Gesellschaft (Frankfurt-am-Main: Klostermann, 2000); Karl Härter (ed), Policey und frühneuzeitliche Gesellschaft (Frankfurt-am-Main: Klostermann, 2000); therein on the social normation hypothesis by Gerd Oestreich, Kersten Krüger, ‘Policey zwischen Sozialregulierung und Sozialdisziplinierung, Reaktion und Aktion – Begriffsbildung durch Gerhard Oestreich 1972–1974’, ibid., pp 107–20; Achim Landwehr, Policey im Alltag: die Implementation frühneuzeitlicher Policeyordnungen in Leonberg (Frankfurt-am-Main: Klostermann, 2000); Neocleous, The fabrication of social order; Peter Blickle, Gute Policey als Politik im 16. Jahrhundert: Die Entstehung des öffentlichen Raumes in Oberdeutschland (Frankfurt-am-Main: Klostermann, 2003); Andrea Iseli, Gute Policey: Öffentliche Ordnung in der frühen Neuzeit (Stuttgart: Ulmer, 2009).

Seppel and Tribe (eds), Cameralism in practice; Nokkala and Miller (eds), Cameralism and the Enlightenment.

On the general concept of space and spatial geography of development in German cameralism, see Sandl, Ökonomie des Raumes.

Johann Heinrich Gottlob von Justi, Grundsätze der Policeywissenschaft, 3rd edn (Göttingen: Vandenhoeck, 1782), §50, pp 260ff.

See, for example, STA Leipzig, Tit. LIV.16, f. 3r (1654).

STA Leipzig, Tit. LIV.17, f. 12v, Specification (1656).

STA Leipzig, Tit. LIV.16, f.3v (1654).

Bernd Rüdiger, ‘Aussenseiter, Randgruppenangehörige und Fremde in der frühneuzeitlichen Gesellschaft Leipzigs’, in Bernd Rüdiger and Karsten Hommel (eds), Kriminalität und Kriminalitätsbekämpfung in Leipzig in der frühen Neuzeit: Der Bestand ‘Richterstube’ im Stadtarchiv Leipzig / Leipziger Kalender Sonderband 2007/2 (Leipzig: Leipziger Universitätsverlag, 2007), pp 261, 276–7.

STA Leipzig, Tit. LIV.17, f. 11r, Specification (1654).

STA Leipzig, Tit. LIV.17, f. 11r, Specification (1654).

STA Leipzig, Tit. LIV.17, f. 107r-108v, Specification (between 1728 and 1731) of retailers in butter and cheese (24 in number), cabbage (eight domestic, 13 frembde), fruit (30 in number) and chickens (11).

Heidrun Homburg, ‘Der ortsansässige Handel in der Stadt Leipzig 1771–1835’, Leipziger Kalender (2000), 162–81, at tab. 2, 180.

STA Leipzig, Tit. LIV.17, f. 116r (1739).

The crisis has been reconstructed for Scotland in Philipp Robinson Rössner, ‘The 1738–41 harvest crisis’, The Scottish Historical Review XC/1 (2011), 27–63; for other European countries, Arthur E. Imhof, Aspekte der Bevölkerungsentwicklung in den nordischen Ländern 1720–1750, 2 vols (Bern: Francke, 1976); John D. Post, ‘Climatic variability and the European mortality wave of the early 1740s’, Journal of Interdisciplinary History, XV:1 (1984), 1–30; John D. Post, Food shortage, climatic variability, and epidemic disease in pre-industrial Europe: the mortality peak in the early 1740s (Ithaca, NY: Cornell University Press, 1985).

STA Leipzig, Tit. LIV.17, f. 11v (1739).

STA Leipzig, Tit. LIV.17, f. 116r (1739).

Enno Bünz, ‘Kaufleute und Krämer’, in Enno Bünz (ed), Geschichte der Stadt Leipzig, vol I: Von den Anfängen bis zur Reformation (Leipzig: Leipziger Universitätsverlag, 2015), pp 299–318, at pp 317–18. See also Uwe Schirmer, ‘Handel, Handwerk und Gewerbe in Leipzig (1250–1650)’, in Leipzigs Wirtschaft in Vergangenheit und Gegenwart, pp 13–50.

More on aspects of monetary policy in Chapter 5. On Saxon currency matters, see Wilhelm Pückert, Das Münzwesen Sachsens 1518–1545 nach handschriftlichen Quellen. Erste Abtheilung: die Zeit von 1518–1525 umfassend (Leipzig: Giesecke & Devrient, 1862); Walter Schwinkowski, Das Geld- und Münzwesen Sachsens: Beiträge zu seiner Geschichte (Dresden: Baensch, 1918); the discussion with sources in Woldemar Goerlitz, Staat und Stände unter den Herzögen Albrecht und Georg 1485–1539 (Berlin: Teubner, 1928); Gerhard Krug, Die meißnisch-sächsischen Groschen 1338 bis 1500 (Berlin: Deutscher Verlag der Wissenschaften, 1974); Walther Haupt, Sächsische Münzkunde, Vol I: Text (Berlin: Deutscher Verlag der Wissenschaften, 1978); Rössner, Deflation – Devaluation – Rebellion, Ch. 3.

Thompson, ‘Moral economy’, p 83.

Eberhard Isenmann, Die deutsche Stadt im Mittelalter 1150–1550 (Cologne: Böhlau, 2014) represents the authoritative survey in the German language.

On the history of stock exchanges in Germany since the 17th century, see Rainer Gömmel, Hans Pohl, Gabriele Jachmich et al (eds), Deutsche Börsengeschichte (Frankfurt-am-Main: Fritz Knapp, 1992). On the rise of financial capitalism since antiquity, for example, Larry Neal, A concise history of international finance: from Babylon to Bernanke (Cambridge: Cambridge University Press, 2015); William N. Goetzmann, Money changes everything: how finance made civilization possible (Princeton, NJ: Princeton University Press, 2016).

Braudel, Civilization and capitalism, Vol 2; Peter Johanek and Heinz Stoob (eds), Europäische Messen und Märktesysteme in Mittelalter und Neuzeit (Cologne: Böhlau, 1996); Franz Irsigler and Michael Pauly (eds), Messen, Jahrmärkte und Stadtentwicklung in Europa = Foires, marchés annuels et développement urbain en Europe (Trier: Porta Alba, 2007); Markus A. Denzel (ed), Europäische Messegeschichte 9.–19. Jahrhundert (Göttingen: Vandenhoeck & Ruprecht, 2019).

STA Leipzig, Tit. LIV.17, f. 84r-v (1721).

See relevant sections in Isenmann, Stadt.

Govind P. Sreenivasan, The peasants of Ottobeuren, 1487–1726: a rural society in early modern Europe (Cambridge: Cambridge University Press, 2004); Paul Warde, Ecology, economy and state formation in early modern Germany (Cambridge: Cambridge University Press, 2010).

But see, on credit in the medieval countryside, Jan Peters (ed), Mit Pflug und Gänsekiel: Selbstzeugnisse schreibender Bauern, Eine Anthologie (Cologne: Böhlau, 2003); Kurt Andermann and Gerhard Fouquet (eds), Zins und Gült: Strukturen des ländlichen Kreditwesens in Spätmittelalter und Frühneuzeit (Epfendorf: Bibliotheca Academica, 2016).

Foucault, Security – territory – population, lecture 11 (5 April 1978), pp 346, 341.

Bücher, Die Entstehung der Volkswirtschaft.

Ibid., p 356. See also lecture 12 (29 March 1978).

Adam Kotsko, Neoliberalism’s demons: on the political theology of late capital (Stanford, CA: Stanford University Press, 2018); Rössner, Freedom and capitalism.

See the website of the Max Planck Institute for Legal History at the University of Frankfurt-am-Main, www.lhlt.mpg.de/forschungsprojekt/repertorium-der-policeyordnungen. The latest volume contains ordinances in Swedish Pomerania: Karl Härter, Jörg Zapnik and Pär Frohnert (eds), Kungariket Sverige och hertigdömena Pommern och Mecklenburg / Königreich Schweden und Herzogtümer Pommern und Mecklenburg (=Repertorium der Policeyordnungen der Frühen Neuzeit 12), 2 vols (Frankfurt-am-Main: Klostermann, 2017).

Adam Smith, Lectures on justice, police revenue and arms, ed. Edwin Cannan (Oxford: Clarendon, 1896), Part II, ‘Of police’.

The literature is considerable; a concise and accessible overview is presented in Iseli, Gute Policey.

For early modern Britain, Hoppit, Britain’s political economies, esp. Chs. 2 and 3.

For example, James Davis, ‘The ethics of arbitrage and forestalling across the late medieval world’, in Simon Middleton and James E. Shaw (eds), Market ethics and practices, c.1300–1850 (Abingdon: Routledge, 2017), pp 23–45.

Developed at length in Philipp Robinson Rössner, ‘Freie Märkte? Zur Konzeption von Konnektivität, Wettbewerb und Markt im vorklassischen Wirtschaftsdenken und die Lektionen aus der Geschichte’, Historische Zeitschrift 303 (2016), 349–92. See also Rössner, Martin Luther on commerce and usury, pp 1–178.

On German market integration in the early modern period, see Ulrich Pfister and Hakon Albers, ‘Climate change, weather shocks and price convergence in pre-industrial Germany’, European Review of Economic History 25:3 (2021), 467–89.

Hall, Governing the economy; Tomlinson, Managing the economy; Sassoon, The anxious triumph.

A classic article is Gerhard Oestreich, ‘Strukturprobleme des europäischen Absolutismus’, in Gerhard Oestreich, Geist und Gestalt des frühmodernen Staates: Ausgewählte Aufsätze (Berlin: Duncker & Humblot, 1969), pp 179–97.

On grain markets, Kaplan, Bread, politics and political economy; Kaplan, The stakes of regulation.

For example, Eric MacGilvray, The invention of market freedom (Cambridge: Cambridge University Press, 2011); Stanziani, Rules of exchange.

See, for example, Emma Rothschild, Economic sentiments: Adam Smith, Condorcet and the Enlightenment (Cambridge, MA: Harvard University Press, 2002); Kaplan and Reinert (eds), The economic turn; Elisabeth Wallmann, ‘All production is reproduction: physiocracy and natural history in eighteenth-century France’, History of Political Economy 54:1 (2022), 75–108.

A modern popular account is Ha-Joon Chang, 23 things they don’t tell you about capitalism (London: Penguin, 2011).

See, most recently, the chapter on Walras in Tribe, Economy of the word; Reinert, ‘“One will make of political economy … what the scholastics have done with philosophy”’; Schabas, The natural origins of economics.

Bruno Ingrao, ‘Free market’, in Richard Arena and Christian Longhi (eds), Markets and organization (Berlin: Springer, 1998), pp 61–94.

After Walter Eucken, Die Grundlagen der Nationalökonomie, 6th edn (Berlin: Springer, 1950); Helmut Woll, Kontroversen der Ordnungspolitik (Munich: Oldenbourg, 1999), pp 8–17. See also Gerold Ambrosius, Staat und Wirtschaftsordnung: Eine Einführung in Theorie und Geschichte (Stuttgart: Franz Steiner, 2001), pp 22–7; Kolev, Neoliberale Staatsverständnisse im Vergleich.

But see Manow, ‘Ordoliberalismus als ökonomische Ordnungstheologie’; or from a philosophy point of view, Krarup, ‘“Ordo” versus “Ordnung”’; Giorgio Agamben, Herrschaft und Herrlichkeit: Zur theologischen Genelogie von Ökonomie und Regierung (Homo Sacer I.2), 3rd edn (Frankfurt-am-Main: Suhrkamp, 2016); I am indebted to Troels Krarup for pointing me in this direction.

Raymond de Roover, ‘Scholastic economics: survival and lasting influence from the sixteenth century to Adam Smith’, The Quarterly Journal of Economics 69 (1955), 161–90. In a recent survey, legal historian Schmoeckel, ‘Die Kanonistik’, comes to strikingly similar conclusions. Schmoeckel argues: ‘For a long time, Canon law has been regarded as a reason for a traditional outlook on commerce and as a barrier against market innovations. The contrary is more convincing. In the 14th century representatives of the Church, theologians, Canonists, authors of penitentiary sums, and high representatives of the Church, particularly in Italy, developed a sense for the necessary freedom of the market and were ready to defend economic necessities. But at the same time they preserved their old principles. This twofold approach provided for flexibility and for clear, predictable rules. Both were essential for the development of a new European market’ (Abstract, p 236).

Before the 19th century, peasants didn’t leave records generally, and the handful that did (for England and Italy some can be traced) weren’t peasants in the traditional sense.

Philipp Robinson Rössner, Catherine Casson, Georg Christ, Christopher Godden, John S. Lee, Sarah Roddy and Edmond Smith, ‘What do we analyse – type of sources’, in Christ and Rössner (eds), History and economic life; James C. Scott, Seeing like a state: how certain schemes to improve the human condition have failed, new edn (New Haven, CT: Yale University Press, 2020).

Scott, Seeing like a state.

Isenmann, Die deutsche Stadt.

Kaye, Economy and nature in the fourteenth century, pp 25–6; Isenmann, Die deutsche Stadt; Gerhard, Wesen und Wirkung vorindustrieller Taxen.

Karl Gunnar Persson, ‘The Seven Lean Years, elasticity traps, and intervention in grain markets in pre-industrial Europe’, Economic History Review, 2nd series, 49:4 (1996), 692–714, esp. 704ff.

For the Netherlands, see de Vries, The price of bread.

Isenmann, Die deutsche Stadt, pp 982–5.

De Vries, The price of bread; Isenmann, Die deutsche Stadt; Hans-Jürgen Gerhard, Wesen und Wirkung; methodological sections and chapters in Gerhard and Engel, Preisgeschichte der vorindustriellen Zeit.

For Germany, recent figures in Ulrich Pfister, and internationally by Robert Allen, Victoria Bateman, Karl Gunnar Persson, Greg Clark and many more. The pioneering work was Wilhelm Abel, Agrarkrisen und Agrarkonjunktur in Mitteleuropa vom 13. bis zum 19. Jahrhundert, 3rd edn (Berlin, 1935) (Hamburg: Parey, 1978), transl. Agricultural fluctuations in Europe from the thirteenth to the twentieth centuries (London: Methuen, 1980). Abel and his disciples produced a host of further regional studies on the basis of new locally traced archival price data. International and global historians drew on earlier work by an international research group around Moritz Elsas, William Beveridge and Edwin Gay, Internationales wissenschaftliches Komitee für die Geschichte der Preise, whose price figures – initially often combed together from the archives quite haphazardly – to the present day mark the foundations of most global studies on prices and real wages; for German prices, see Moritz J. Elsas, Umriß einer Geschichte der Preise und Löhne in Deutschland vom ausgehenden Mittelalter bis zum Beginn des 19. Jahrhunderts, 3 vols (Leiden: Sijthoff, 1936–49). The ‘Allen-Unger-Database’ is a prime location for the material: www.gcpdb.info. Some of the Elsas material was subsequently transferred from Göttingen, where Abel had his chair, to the University of Leipzig, where it is now stored as the ‘Wirtschafts- und Währungsgeschichtliche Sammlungen’; see Markus A. Denzel (ed), Wirtschaft – Politik – Geschichte: Beiträge zum Gedenkkolloquium anläßlich des 100. Geburtstages von Wilhelm Abel am 16. Oktober 2004 in Leipzig (Stuttgart: Franz Steiner, 2004). On the international committee, see Arthur H. Cole and Ruth Crandall, ‘The international scientific committee on price history’, The Journal of Economic History 24:3 (1964), 381–8. Recent global studies drew inspiration (and criticism) from Robert C. Allen, ‘The great divergence in European wages and prices from the middle ages to the First World War’, Explorations in Economic History 38 (2001), 411–47; Robert C. Allen, ‘Progress and poverty in early modern Europe’, Economic History Review, 2nd series, 56 (2003), 403–43. A new critical compendium is in Hatcher and Stephenson (eds), Seven centuries of unreal wages. See also Chapter 3.

One example is Achim Landwehr, Policey im Alltag: Die Implementation frühneuzeitlicher Policeyordnungen in Leonberg (Frankfurt-am-Main: Klostermann, 2000).

STA Leipzig, Tit. LIV.7a, printed (Leipzig: Solvien, 1726), pp 32–4.

Ibid., p 15.

STA Leipzig, Tit. LIV.17, f. 18v.

Justi, Grundfeste (1760–61), Vol 1, p 761.

STA Leipzig, Tit. LIV.7a, printed (Leipzig: Solvien, 1726), pp 28–9.

Trentmann, Empire of things.

For a market ordinance in similar tune, issued in Düsseldorf 1772, (http://digital.ub.uni-duesseldorf.de/ihd/periodical/pageview/4497427?query=markt) (last accessed 7 April 2022).

Iseli, Gute Policey, pp 62–5; Kaplan, Bread, politics and political economy; Hans-Jürgen Gerhard and Karl Heinrich Kaufhold, Preise im Vor- und Frühindustriellen Deutschland: Nahrungsmittel – Getränke – Gewürze, Rohstoffe und Gewerbeprodukte (Stuttgart: Franz Steiner, 2001), Introduction and tables; Hans-Jürgen Gerhard, ‘Preise als wirtschaftshistorische Indikatoren. Wilhelm Abels preishistorische Untersuchungen aus heutiger Sicht’, in Denzel (ed), Wirtschaft – Politik – Geschichte, pp 37–58; Gerhard and Engel, Preisgeschichte der vorindustriellen Zeit; Gerhard, Wesen und Wirkung vorindustrieller Taxen.

Elisabeth Décultot and Daniel Fulda (eds), Sattelzeit: Historiographiegeschichtliche Revisionen (= Hallesche Beiträge zur Europäischen Aufklärung 52) (Berlin: Oldenbourg, 2016).

Epstein and Prak (eds), Guilds, innovation and the European economy; Kluge, Die Zünfte.

Adam Heinrich Müller, Versuche einer neuen Theorie des Geldes mit besonderer Rücksicht auf Großbritannien (Leipzig: Brockhaus, 1816), p 36, my translation.

Norbert Waszek, ‘Adam Smith in Germany, 1776–1832’, in Hiroshi Mizuta and Chuhei Sugiyama (eds), Adam Smith: international perspectives (Basingstoke: Palgrave Macmillan, 1993), pp 163–80; Bertram Schefold, Great economic thinkers from Antiquity to the Historical School: translations from the series Klassiker der Nationalökonomie (Abingdon: Routledge, 2011); Bertram Schefold, Great economic thinkers from the classicals to the moderns: translations from the series Klassiker der Nationalökonomie (Abingdon: Routledge, 2016).

Wehler, Deutsche Gesellschaftsgeschichte Vol I: Vom Feudalismus des Alten Reiches bis zur defensiven Modernisierung der Reformära 1700–1815, pp 397–486; Hagen, German history in modern times.

Christopher A. Bayly, The birth of the modern world, 1780–1914: global connections and comparisons (Malden: Blackwell, 2004).

STA Leipzig, Tit. LIV.1a, f. 13v. (1824). The 1659 document is in ibid., f. 5r-8v.

See earlier.

Tilly and Kopsidis, A history of German industrialisation.

STA Leipzig, Tit. LIV.30, f. 91r, City Council Leipzig decree anent a petition, 25 May 1882.

STA Leipzig, Tit. LIV.30, f. 97r-v, City Council Leipzig, protocol 26 August 1882.

STA Leipzig, Tit. LIV.30, f. 98v, protocol 26 August 1882.

STA Leipzig, Tit. LIV.30, f. 101r, Öffentliche Plenarsitzung der Gewerbekammer zu Leipzig, 28 September 1882. ‘Das gedachte Collegium sei von der Thatsache ausgegangen, daß unser Marktwesen insofern einen völlig veränderten Charakter angenommen, als der Vertrieb der Produkte auf den Wochenmärkten nur noch in ganz vereinzelten Fällen von den Landwirthen selbst, im Uebrigen fast ausschließlich von Mittelspersonen besorgt werde’.

STA Leipzig, Tit. LIV.30, f. 101r, Öffentliche Plenarsitzung der Gewerbekammer zu Leipzig, 28 September 1882.

STA Leipzig, Tit. LIV.30, f. 101v, Öffentliche Plenarsitzung der Gewerbekammer zu Leipzig, 28 September 1882. See also City Council, protocol 5 October 1882, ibid., f. 103v.

STA Leipzig, Tit. LIV.30, f. 101v, Öffentliche Plenarsitzung der Gewerbekammer zu Leipzig, 28 September 1882.

STA Leipzig, Tit. LIV.30, f. 101v.; f. 106r-v.

STA Leipzig, Tit. LIV.30, f. 105r.

Leipziger Nachrichten/Amtsblatt, Nr.302, 30 October 1882.

Leipziger Tageblatt und Anzeiger 104, Saturday, 14 April 1883.

Amleto Spicciani, ‘Pietro di Giovanni Olivi indagatore della razionalità economica medioevale’, in Usure, compere e vendite: la scienza economica del XIII secolo, eds. Amleto Spicciani and Paolo Vian (Novara: Europia, 1998), pp 21–72, at pp 36–8; Barry Gordon, Economic analysis before Adam Smith: Hesiod to Lessius (London: Palgrave Macmillan, 1975), pp 222–3; Oreste Bazzichi, Dall’economia civile francescana all’economia capitalistica moderna: Una via all’umano e al civile dell’economia (Rome: Armando, 2015), pp 98–9, 39;.

Hugo Ott, ‘Zur Wirtschaftsethik des Konrad Summenhart ca.1455–1502’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 53:1 (1966), 1–2; Wolf-Hagen Krauth, Wirtschaftsstruktur und Semantik: wissenssoziologische Studien zum wirtschaftlichen Denken in Deutschland zwischen dem 13. und 17. Jahrhundert (Berlin: Duncker & Humblot, 1984), p 46, quoting cardinal Joseph Höffner, Wirtschaftsethik und Monopole im fünfzehnten und sechzehnten Jahrhundert (Jena: Fischer, 1941), pp 86ff. On Scottish price formation, the so-called fiars prices, see A.J.S. Gibson and T.C. Smout, Prices, food, and wages in Scotland, 1550–1780 (Cambridge: Cambridge University Press, 1997).

Schmoeckel, ‘Die Kanonistik’, 246–7.

All examples taken from Otto Gerhard Oexle, ‘Wirtschaft. III: Mittelalter’, in Brunner, Conze and Koselleck (eds), Geschichtliche Grundbegriffe, Vol 7, pp 526–50, at p 547.

Odd Langholm, The legacy of scholasticism in economic thought: antecedents of choice and power (Cambridge: Cambridge University Press, 1998), p 80.

Schmoeckel, ‘Die Kanonistik’, 250–4. In an occasionally pointed and polemic manner, Jacques Le Goff, Your money or your life: economy and religion in the middle ages (New York: Zone Books, 1988); Lester K. Little, Religious poverty and the profit economy in medieval Europe (Ithaca, NY: Cornell University Press, 1994); Rodney Stark, The victory of reason: how Christianity led to freedom, capitalism, and Western success (New York: Random House, 2006); Thomas Barnebeck Andersen, Jeanet Bentzen, Carl-Johan Dalgaard and Paul Sharp, ‘Pre-Reformation roots of the protestant ethic’, The Economic Journal 127 (2017), 1756–93.

Wolfgang Drechsler, ‘The reality and diversity of Buddhist economics’, American Journal of Economics and Sociology 78:2 (2019), 523–60, at 527.

Rössner, Martin Luther on commerce and usury.

Ibid., Ch. 5.

Thomas Max Safley, ‘Bankruptcy: family and finance in early modern Augsburg’, Journal of European Economic History 29:1 (2000), 53–75; Thomas Max Safley, ‘Business failure and civil scandal in early modern Europe’, Business History Review 83:1 (2011), 35–60; Thomas Max Safley (ed), The history of bankruptcy: economic, social and cultural implications in early modern Europe (New York: Routledge, 2013), esp. introductory chapter.

Becher, Politischer Discurs, 1673 edn, pp 83–5.

‘damit die Statt an unterschiedlichen Orten bewohnet und volckreich werde’, ibid., p 83. We encountered such regulations in the previous sections.

Robert von Erdberg-Krczenciewski, Johann Joachim Becher: Ein Beitrag zur Geschichte der Nationalökonomik (Halle/S.: Lippert, 1896), pp 33–7.

Ronald Edward Zupko, A dictionary of English weights and measures from Anglo-Saxon times to the nineteenth century (Madison: University of Wisconsin Press, 1968); Harald Witthöft and Gerhard Göbel, Handbuch der historischen Metrologie (St Katharinen: Scripta-Mercaturae-Verlag, 1994); Aashish Velkar, Markets and measurements in nineteenth-century Britain (Cambridge: Cambridge University Press, 2012); Peter Rauscher and Andrea Serles (eds), Wiegen – Zählen – Registrieren: Handelsgeschichtliche Massenquellen und die Erforschung mitteleuropäischer Märkte (13.–18. Jahrhundert) (Innsbruck: Studienverlag, 2015); Witold Kula, Measures and men, new edn (Princeton, NJ: Princeton University Press, 2016).

Berch, 1747; German transl. 1763 (Pt II/4, Ch. 9, §3).

Zedler, Grosses vollständiges Universal-Lexicon Aller Wissenschafften und Künste (1732–54), Vol 19 (1739), col. 1279–80.

Georg Heinrich Zincke, Allgemeines Oeconomisches Lexicon, Vol 2: M–Z (Leipzig: Gleditsch, 1780), col. 1889–91.

Johann Georg Krünitz et al (eds), Oekonomische Encyklopädie oder allgemeines System der Staats- Stadt- Haus- und Landwirthschaft, Vol 84: Mantel – Marmorwaaren, 1st edn (Berlin: Pauli 1801), pp 574ff.

Johann H.G. Justi, Grundsätze der Policeywissenschaft, 3rd edn (Göttingen: Vandenhoeck: 1782).

Epstein, Freedom and growth.

Jean Bodin, Les six livres de la republique, 1.10 (Paris: du Puys, 1583), English transl. Bodin, On Sovereignty, trans. Julian H. Franklin (Cambridge, UK: Cambridge University Press, 1992), p 78; cited after Adam Woodhouse, ‘“Who owns the money?” Currency, property, and popular sovereignty in Nicole Oresme’s De moneta’, Speculum 92:1 (2017), 85–116.

Georg Agricola, De re metallica, transl. Herbert Clark Hoover and Lou Henry Hoover (New York: Dover Publications, 1950), p 6.

R.H. Tawney, Religion and the rise of capitalism: a historical study (New York: Harcourt Brace, 1926); Rössner, Martin Luther on commerce and usury, Introduction, Ch. 2 for contextualization and Ch. 3 for extended discussion of Luther’s economics; for a heterodox account on Germany and commercial capitalism around 1500, see Heller, Birth of capitalism, pp 61–70.

Reinhold Reith, Umweltgeschichte der Frühen Neuzeit (Munich: Oldenbourg, 2011), pp 51–5. For 16th-century Tyrol, see Elisabeth Breitenlechner, Marina Hilber, Joachim Lutz, Yvonne Kathrein, Alois Unterkircher and Klaus Oeggl, ‘Reconstructing the history of copper and silver mining in Schwaz, Tirol (sic)’, RCC Perspectives 10, Mining in Central Europe: Perspectives from Environmental History (2012), 7–20.

Controversies abound among historians as to what extent coins, at different times and ages, could have been substituted by alternatives, such as book money and credit. For late medieval England, see Ian Blanchard, Mining, metallurgy and minting in the middle ages: Vol 3: Continuing Afro-European supremacy: 1250–1450 (Stuttgart: Franz Steiner, 2005), pp 1189–07; and for an alternative viewpoint, Phillipp R. Schofield, ‘Credit and its record in the later medieval English countryside’, in Philipp Robinson Rössner (ed), Cities – coins – commerce: essays in honour of Ian Blanchard on the occasion of his seventieth birthday (Stuttgart: Franz Steiner, 2012), pp 77–88. On money and credit in the late medieval towns and countryside, see Kurt Andermann and Gerhard Fouquet (eds), Zins und Gült Strukturen des ländlichen Kreditwesens in Spätmittelalter und Frühneuzeit (Epfendorf: Bibliotheca Academica, 2015); Gerhard Fouquet and Sven Rabeler (eds), Ökonomische Glaubensfragen: Strukturen und Praktiken jüdischen und christlichen Kleinkredits im Spätmittelalter (Stuttgart: Franz Steiner, 2018). General histories of money include Peter Spufford, Money and its use in medieval Europe (Cambridge: Cambridge University Press, 1988); Glyn Davis, A history of money: from ancient times to the present day, 3rd edn (Cardiff: University of Wales Press, 1994); Jim L. Bolton, Money in the medieval English economy 973–1489 (Manchester: Manchester University Press, 2012). From a cultural anthropology viewpoint, Jack Weatherford, The history of money (New York: Three Rivers Press, 1997); Jacques LeGoff, Money and the middle ages: an essay in historical anthropology (Cambridge: Polity Press, 2016); a cultural history of money in the early modern age is presented in Deborah Valenze, The social life of money in the English past (Cambridge: Cambridge University Press, 2006); Catherine Eagleton and Jonathan Williams, Money: a history, 2nd edn (London: British Museum Press, 2007); Diane Wolfthal and Juliann Vittulo (eds), Money, morality, and culture in late medieval and early modern Europe (Abingdon: Routledge, 2016). From a numismatic viewpoint, Philip Grierson, Numismatics (Oxford: Oxford University Press, 1975); Rory Naismith (ed), Money and coinage in the Middle Ages (Boston: Brill, 2018). For money in the German-speaking lands, Herbert Rittmann, Deutsche Geldgeschichte 1484–1914 (Munich: Battenberg, 1975); Arthur Suhle, Deutsche Münz- und Geldgeschichte von den Anfängen bis zum 15. Jahrhundert 8th edn (Berlin: VEB Deutscher Verlag der Wissenschaften, 1975); Hans-Jürgen Gerhard, ‘Ursachen und Folgen der Wandlungen im Währungssystem des Deutschen Reiches 1500–1625. Eine Studie zu den Hintergründen der sogenannten Preisrevolution’, in Eckart Schremmer (ed), Geld und Währung vom 16. Jahrhundert bis zur Gegenwart (Stuttgart: Franz Steiner, 1993), pp 69–84; Hans-Jürgen Gerhard, ‘Ein schöner Garten ohne Zaun. Die währungspolitische Situation des Deutschen Reiches um 1600’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 81 (1994), 156–77; Michael North, Das Geld und seine Geschichte: Vom Mittelalter bis zur Gegenwart (Munich: C.H. Beck, 1994); Hans-Jürgen Gerhard, ‘Miszelle: Neuere deutsche Forschungen zur Geld- und Währungsgeschichte der Frühen Neuzeit. Fragen – Ansätze – Erkenntnisse’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte, 83 (1996), 216–30; Bernd Sprenger, Das Geld der Deutschen: Geldgeschichte Deutschlands von den Anfängen bis zur Gegenwart, 3rd edn (Paderborn: Schöningh, 2002); Niklot Klüßendorf, Münzkunde – Basiswissen (Hanover: Hahn, 2009); Michael North, Kleine Geschichte des Geldes: Vom Mittelalter bis heute, new edn (Munich: C.H. Beck, 2009). Older numismatic works include Ferdinand Friedensburg, Münzkunde und Geldgeschichte der Einzelstaaten des Mittelalters und der Neueren Zeit (Munich: Oldenbourg, 1926); Arnold Luschin von Ebengreuth, Allgemeine Münzkunde und Geldgeschichte des Mittelalters und der Neueren Zeit, 2nd edn (Munich: Oldenbourg, 1926); as well as Friedrich Freiherr von Schrötter, ‘Das Münzwesen des Deutschen Reichs von 1500 bis 1566’, Jahrbuch für Gesetzgebung, Verwaltung und Volkswirtschaft 35 (1911) 129–72 and 36 (1912), reprinted in Friedrich von Schrötter, Aufsätze zur deutschen Münz- und Geldgeschichte des 16. bis 19. Jahrhunderts (1902–1938), ed. Bernd Kluge (Leipzig: Reprintverlag Leipzig im Zentralantiquariat, 1991), pp 3–76. Authoritative histories of cashless payments and bills of exchanges have been presented in Denzel, Das System des bargeldlosen Zahlungsverkehrs europäischer Prägung vom Mittelalter bis 1914; Denzel, Handbook of world exchange rates, Introduction. Cashless payment will be largely disregarded here.

On late medieval and early modern Saxony, see Rössner, Deflation, Ch. 3. On France, Christine Desan, Making money: coin, currency, and the coming of capitalism (Oxford: Oxford University Press, 2014); Jotham Parsons, Making money in sixteenth-century France: currency, culture, and the state (Ithaca, NY: Cornell University Press, 2016); and for a comparative survey, K. Kıvanç Karaman, Sevket Pamuk and Seçil Yıldırım-Karaman, ‘Money and monetary stability in Europe, 1300–1914’, Journal of Monetary Economics 115 (2020), 279–300.

A state theory of money was presented in Georg Friedrich Knapp, Staatliche Theorie des Geldes (Leipzig: Duncker & Humblot, 1891); see Mark Peacock, Introducing money (Abingdon: Routledge, 2013).

Agricola, De re metallica, transl. Hoover, p 17.

An Aristotelian framing of money and its functions in the economic process was laid out in W. Stanley Jevons, Money and the mechanism of exchange (New York: Appleton, 1875); to the present day, many introductory textbooks in economics will implicitly refer to Jevons. See also Josef Soudek, ‘Aristotle’s theory of exchange: an inquiry into the origin of economic analysis’, Proceedings of the American Philosophical Society 96:1 (1952), 45–75; Hendrik Mäkeler, ‘Nicolas Oresme und Gabriel Biel. Zur Geldtheorie im Spätmittelalter’, Scripta Mercaturae XXXVII:1 (2003), 56–94.

Philipp Robinson Rössner, ‘The crisis of the reformation (1517): monetary and economic dimensions of a change in paradigm’, in the Istituto internazionale di storia economica F. Datini (ed), Le crisi finanziarie: gestione, implicazioni sociali e conseguenze nell’età preindustriale: selezione di ricerche/The financial crises: their management, their social implications and their consequences in pre-industrial times: selection of essays (Florence: Firenze University Press, 2016), pp 19–47.

Christina von Braun, Der Preis des Geldes: Eine Kulturgeschichte (Berlin: Aufbau, 2012).

Carl Wennerlind, ‘Money talks, but what is it saying? Semiotics of money and social control’, Journal of Economic Issues 35:3 (2001), 557–74.

See, for instance, discussion and figures in Dennis O. Flynn, ‘The microeconomics of silver and east–west trade in the early modern period’, in Wolfram Fischer, R. Marvin McInnis and Jürgen Schneider (eds), The emergence of a world economy, part I: 1500–1850 (Stuttgart: Franz Steiner, 1986), pp 37–60.

Nuno Palma, ‘Money and modernization in early modern England’, Financial History Review 25:3 (2018), 231–61, at 232.

Recent surveys on preindustrial village society include Kießling, Konersmann and Troßbach, Grundzüge der Agrargeschichte; Prass, Grundzüge der Agrargeschichte; Enno Bünz (ed), Landwirtschaft und Dorfgesellschaft im ausgehenden Mittelalter (Sigmaringen: Jan Thorbecke, 2020). On different moneys and spheres of payment on the countryside, see Rössner, Deflation, esp. Ch. 4.

Rössner, Deflation, Ch. 4.

For concrete examples relating to 16th-century court cases and complaints brought before territorial diets and princely administrations, see Mark Häberlein, ‘Wirtschaftskriminalität und städtische Ordnungspolitik in der Frühen Neuzeit. Augsburger Kaufleute als Münzhändler und Falschmünzer’, Zeitschrift für bayerische Landesgeschichte 61 (1998), 699–740; Rössner, Deflation, Ch. 4.

For the Germanies in late medieval and early modern times, see extended introduction in Volckart (ed), Eine Währung für das Reich; Volckart, ‘The dear old Holy Roman realm: how does it hold together?’; Rössner, Deflation, Chs. 3 and 4. See also Desan, Making money; Parsons, Making money.

For the early 1500s, see Rössner, Deflation, Ch. 4, with detailed regional case studies for the German lands, 1460s–1520s.

Sargent and Velde, The big problem of small change; Angela Redish, Bimetallism: an economic and historical analysis (Cambridge: Cambridge University Press, 2006).

Rössner, Deflation, Ch. 4.

I use this expression in a gender-neutral form. The contemporary legal and socio-economic German language terminus technicus der Gemeine Mann also covered women.

I have reconstructed the full story and details of the first full-blown Thaler currency in its economic, social and political settings in Rössner, Deflation, Ch. 3. On the Joachimsthaler – from which the ‘Dollar’ ultimately (through many detours) got its name, see Karel Castelin, ‘Zur Entstehung der ältesten ‘Joachimsthaler’, Numismatische Zeitschrift 80 (1963), 72–7.

The two foundational studies are Westermann, Das Eislebener Garkupfer und seine Bedeutung für den europäischen Kupfermarkt; Blanchard, International lead production and trade.

Rössner, Martin Luther on commerce and usury, Ch. 2.

On the political, administrative, social and economic management of early modern mining regions, see Ekkehard Westermann (ed), Bergbaureviere als Verbrauchszentren im vorindustriellen Europa: Fallstudien zu Beschaffung und Verbrauch von Lebensmitteln sowie Roh- und Hilfsstoffen (13.–18. Jahrhundert) (Stuttgart: Franz Steiner, 1997); Ekkehard Westermann, ‘Der wirtschaftliche Konzentrationsprozeß im Mansfelder Revier und seine Auswirkungen auf Martin Luther, seine Verwandte und Freunde’, in Rosemarie Knape (ed), Martin Luther und der Bergbau im Mansfelder Land: Aufsätze (Lutherstadt Eisleben: Stiftung Luthergedenkstätten in Sachsen-Anhalt, 2000), pp 63–92; Angelika Westermann, Die vorderösterreichischen Montanregionen in der Frühen Neuzeit (Stuttgart: Franz Steiner, 2009); Franziska Neumann, ‘Vormoderne Organisationen. Mitgliedschaft und ‘formale Organisation’ in der sächsischen Bergverwaltung des 16. Jahrhunderts’, Zeitschrift für Historische Forschung 47:4 (2020), 591–628. Mining and administration in 15^th- and 16^th-century Saxony are covered in Woldemar Goerlitz, Staat und Stände unter den Herzögen Albrecht und Georg 1485–1539 (Berlin: Teubner, 1928).

Rössner, Martin Luther on commerce and usury, Ch. 2, for full discussion and further literature.

The English language knows only one word for ‘industrialization’. In the German language, ‘industrialization’ can be translated as either Vergewerblichung (referring to pre-factory manufacturing growth) or Industrialisierung (‘industrialization’ in the post-1800 sense, based on factories and machines using coal and steam). I am here referring to the former.

Extended discussion in Rössner, Deflation, Ch. 3.

Benjamin J. Cohen, The geography of money (Ithaca, NY: Cornell University Press, 1998).

Bart D. Ehrman, The lost gospel of Judas Iscariot: a new look at betrayer and betrayed (Oxford: Oxford University Press, 2008).

An example relating to the 15^th century, see Harry Miskimin, ‘Monetary movements and market structure – forces for contraction in fourteenth- and fifteenth-century England’, The Journal of Economic History 24 (1964), 470–90; John Day, ‘The great bullion famine of the fifteenth century’, Past & Present 79 (1978), 3–54; John H. Munro, ‘Bullion flows and monetary contraction in late-medieval England and the Low Countries’, in John F. Richards (ed), Precious metals in the later medieval and early modern worlds (Durham, NC: Carolina Academic Press, 1983), pp 97–158; for northern Germany between the middle ages and the early modern period, see Michael North, Geldumlauf und Wirtschaftskonjunktur im südlichen Ostseeraum an der Wende zur Neuzeit (1440–1570): Untersuchungen zur Wirtschaftsgeschichte am Beispiel des Großen Lübecker Münzschatzes, der norddeutschen Münzfunde und der schriftlichen Überlieferung (Sigmaringen: Thorbecke, 1990).

Nathan Sussman, ‘Debasements, royal revenues, and inflation in France during the Hundred Years’ War, 1415–1422’, The Journal of Economic History 53:1 (1993), 44–70.

See graphs in Karaman, Pamuk and Yıldırım-Karaman, ‘Money and monetary stability’; Eckart Schremmer and Jochen Streb, ‘Revolution oder Evolution? Der Übergang von den feudalen Münzgeldsystemen zu den Papiergeldsystemen des 20. Jahrhunderts’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 86 (1999), 457–76.

Philipp Robinson Rössner, ‘Monetary instability, lack of integration and the curse of a commodity money standard: the German lands, c.1400–1900 ad’, Credit and Capital Markets 47:2 (2014), 297–340.

Ibid.

The economics of minting are concisely explained in John H. Munro, ‘Münzkosten’, in Michael North (ed), Von Aktie bis Zoll: Ein historisches Lexikon des Geldes (Munich: Beck, 1995), p 263; Oliver Volckart, ‘Premodern debasement: a messy affair’, LSE Working Papers 270:70 (2018), 4–5.

Rössner, Deflation, Ch. 4.

Sargent and Velde, The big problem of small change.

Ibid., Ch. 3, esp. pp 381–6, Tab. 4.

Ibid., Ch. 3.

See later, and Rössner, Deflation, Ch. 4, for a fuller elaboration.

Ibid., Ch. 3, for Saxon monetary policy between the 1450s and 1550s.

This straight debasement did not work for gold currencies, as gold involved different nominals, transaction types and spheres and ranges of people.

Sargent and Velde, Big problem, Ch. 4.

Spufford, Money and its use; Sussman, ‘Debasements’.

Hans-Jürgen Gerhard, ‘“Ein Adler fängt keine Mücken!”: Eine Währungsreform mit Weitblick und Langzeitwirkung. Johann Philip Grauman als Gernaralmünzdirektor Friedrichs des Großen’, in Angelika Westermann, Ekkehard Westermann and Josef Pahl (eds), Wirtschaftslenkende Montanverwaltung – Fürstlicher Unternehmer – Merkantilismus (Husum: Matthiesen, 2009); Jan Greitens, ‘Geldtheorie und -politik in Preußen Mitte des 18. Jahrhunderts’, Jahrbuch für Wirtschaftsgeschichte/Economic History Yearbook 61:1 (2020), 217–57.

Sussman, ‘Debasements’.

Spufford, Money and its use, p 287.

Michel Mollat, Der königliche Kaufmann Jacques Coeur oder der Geist des Unternehmertums (Munich: Beck, 1991).

North, Geldumlauf.

Spufford, Money and its use, pp 296–300.

Munro, ‘Münzkosten’.

Bertram Schefold, ‘Goethe’s economics: between cameralism and liberalism’, in Rössner (ed), Economic growth and the origins of modern political economy, pp 79–100.

Rössner, Deflation, Introduction. See also Martin Treu (ed), Martin Luther und das Geld: Aus Luthers Schriften, Briefen und Tischreden (Lutherstadt Wittenberg: Stiftung Luthergedenkstätte, 2000).

Rössner, Deflation, Ch. 4.

Volckart, ‘The dear old Holy Roman Realm’; Volckart (ed), Eine Währung für das Reich, Introduction.

David Landes, Wealth and poverty of nations (New York: Norton, 1998); Eric L. Jones, The European miracle: environments, economies and geopolitics in the history of Europe and Asia, new edn (Cambridge: Cambridge University Press, 2008); Rosenthal and Wong, Before and beyond divergence.

For modern reminiscences, see Walter Eucken, Die Grundlagen der Nationalökonomie, 6th edn (Berlin: Springer, 1950); Helmut Woll, Kontroversen der Ordnungspolitik (Munich: Oldenbourg, 1999), pp 8–17.

Nederman, Lineages of European political thought, pp 222–47.

Ibid. See also Kaye, Economy and nature in the fourteenth century.

Mäkeler, ‘Nicolas Oresme’, 58–60, 81–2; Erwin Iserloh, ‘Biel, Gabriel’, in Neue Deutsche Bibliographie, Vol 2 (Berlin: Duncker & Humblot, 1955), pp 225–6; Werner Detloff, ‘Gabriel Biel’, in Horst Robert Balz et al (eds), Theologische Realenzyklopädie, Vol 6 (Berlin: De Gruyter, 1980), pp 489–91; Stefan Kötz, ‘The last Scholastic on money: Gabriel Biel’s monetary theory’, in David Fox and Wolfgang Ernst (eds), Money in the Western legal tradition: Middle Ages to Bretton Woods (Oxford: Oxford University Press, 2016), pp 71–92.

Spufford, Money and its use.

Nederman, Lineages, pp 245, 247.

Schefold, Beiträge, p 98. See contributions in Rössner (ed), Economic reasons of state.

Schefold, Beiträge, p 84.

Schefold, Beiträge, p 98.

Dittrich, Die deutschen und österreichischen Kameralisten; Schefold (ed), Tractatus juridico-politico-polemico-historicus de aerario, Introduction.

Heckscher, Der Merkantilismus, Vol 2, pp 197–216; Wilga Föste, Das Geld im ökonomischen Denken des Merkantilismus (Weimar (Lahn): Metropolis, 2015), pp 14–15. But see Johannes Kasnacich-Schmid, ‘Grundsätze kameralistischer Geldpolitik’, Weltwirtschaftliches Archiv 80 (1958), 90–130, for a more nuanced interpretation of cameralist monetary views.

Karl Pribram, Geschichte des ökonomischen Denkens, 2 vols (Frankfurt-am-Main: Suhrkamp, 1992); on the medieval period, see Wood, Medieval economic thought.

Heckscher, Der Merkantilismus.

John M. Keynes, General theory of employment, interest and money (New York: Harcourt Brace, 1936); Cilly Böhle, Die Idee der Wirtschaftsverfassung im deutschen Merkantilismus (Jena: Fischer, 1940); Hans-Joachim Röpke, Die Wachstumstheorie der deutschen Merkantilisten (PhD dissertation, Marburg University, 1971).

M. Tilemann[us], ‘Tractat M. Cyriaci Spangenberg vom rechten Brauch und Mißbrauch der Muentze’, in Muentz Spiegel … (Frankfurt-am-Main: Feyrabendt, 1592), p 240. Full analysis of the social and economic consequences of coin debasement in Rössner, Deflation – Devaluation – Rebellion, Ch. 4.

This was not limited to any specific set of prices, say grain or bread prices; but most works spoke of rising or falling prices in generic terms, referring roughly to what we may call the ‘price level’.

Wilhelmine Dreissig, Die Geld- und Kreditlehre des deutschen Merkantilismus (Berlin: Dr. Emil Ebering, 1939), pp 31–40.

Rössner, Deflation, Ch. 2; John H. Munro, ‘The monetary origins of the “Price Revolution”’, in Dennis O. Flynn, Arturo Giráldez and Richard von Glahn (eds), Global connections and monetary history, 1470–1800 (Aldershot: Ashgate, 2003), pp 1–34, tables.

Dennis O. Flynn and Arturo Giráldez, ‘Cycles of silver: global economic unity through the mid-18th century’, in Markus A. Denzel (ed), From commercial communication to commercial integration: Middle Ages to 19th century (Stuttgart: Franz Steiner, 2004), pp 81–111, at p 83. See also Dennis O. Flynn and Arturo Giráldez, ‘Arbitrage, China and world trade in the early modern period’, Journal of the Economic and Social History of the Orient 38 (1995), 429–48; Dennis O. Flynn and Arturo Giráldez, ‘Born with a “silver spoon”: the origin of world trade in 1571’, Journal of World History 6 (1995), 201–21.

Rössner, Deflation, pp 166–250.

Rössner, Martin Luther on commerce and usury, p 176.

Full discussion in editor’s introduction, ibid., Chs. 2–4.

Rudolf Bentzinger (ed), Die Wahrheit muß ans Licht! Dialoge aus der Zeit der Reformation (Leipzig: Reclam, 1983), pp 46, 52, 72–4.

Sargent and Velde, Big problem.

Gustav von Schmoller, ‘Zur Geschichte der national-ökonomischen Ansichten in Deutschland während der Reformations-Periode’, Zeitschrift für Gesamte Staatswissenschaft 16 (1860), 635–8.

Ibid., pp 650–1; Fritz Blaich, Die Wirtschaftspolitik des Reichstags im Heiligen Römischen Reich: ein Beitrag zur Problemgeschichte wirtschaftlichen Gestaltens (Stuttgart: Fischer, 1970), pp 135–53.

I have used the 8th edn, www.ludwig-erhard.de/wp-content/uploads/wohlstand_fuer_alle.pdf, pp 15–16.

A definitive biography is Volker Hentschel, Ludwig Erhard: Ein Politikerleben (Berlin: Ullstein, 1998); see also Volker R. Berghahn, ‘Ordoliberalism, Ludwig Erhard, and West Germany’s “economic basic law”’, European Review of International Studies 2:3 (2015), 37–4.

I am following the text given in Wolfram Burckhardt (ed), Nicolas von Oresme De mutatione monetarum: tractatus = Traktat über Geldabwertungen (Berlin: Kulturverlag Kadmos, 1999).

See Rössner, Deflation, Ch. 4, for detailed examples and full empirical discussion of the social consequences of debased currency.

I am following the Latin text as printed in Renate Steiger et al (eds), Gabrielis Biel collectorium circa quattuor libros Sententiarum. 4, 2, Libri quarti pars secunda: dist. 15–22 (Tübingen: J.C.B. Mohr-P. Siebeck, 1977). On Biel, most recently, Kötz, ‘The last Scholastic on money’.

Erich Sommerfeld (ed), Die Geldlehre des Nicolaus Copernicus: Texte – Übersetzungen – Kommentare (Berlin: Neunplus [1978] 2003), p 1; see also Oliver Volckart, Die Münzpolitik im Ordensland und Herzogtum Preußen von 1370 bis 1550 (Wiesbaden: Harrassowitz, 1996); Oliver Volckart, ‘Early beginnings of the quantity theory of money and their context in Polish and Prussian monetary policies, c.1520–1550’, Economic History Review, 2nd series, 50:3 (1997), 430–49; Groh, Göttliche Weltökonomie, Ch. 2.

Copernicus, Denkschrift A, printed in Sommerfeld, Die Geldlehre des Nicolaus Copernicus.

Copernicus, Denkschrift A, p 24, Latin; p 25, German translation.

Raymond de Roover, Gresham on foreign exchange: an essay on early English mercantilism with the text of Sir Thomas Gresham’s memorandum: for the understanding of the exchange (Cambridge, MA: Harvard University Press, 1949), p 291.

Ibid.

Copernicus 1517, Denkschrift A, pp 24–5.

Monete vilitas; Copernicus 1526, Denkschrift A, pp 48–9.

Ibid.

Copernicus 1526, Denkschrift A, pp 54–5.

Ibid.

Ibid.

Ibid.

Bernd Sprenger, ‘Preisindizes unter Berücksichtigung verschiedener Münzsorten als Bezugsgrößen für das 16. und 17. Jahrhundert – dargestellt anhand von Getreidepreisen in Frankfurt/Main’, Scripta Mercaturae 1 (1977), 57–69.

Rössner, ‘Monetary instability’, 327–8.

Copernicus 1526, Denkschrift A, p 56.

Facsimile in Bertram Schefold (ed), Die drei Flugschriften über den Münzstreit der sächsischen Albertiner und Ernestiner (Düsseldorf: Verlag Wirtschaft und Finanzen, 2000); discussion in Bertram Schefold (ed), ‘Wirtschaft und Geld im Zeitalter der Reformation’, in Schefold (ed), Vademecum zu drei klassischen Schriften frühneuzeitlicher Münzpolitik, pp 5–58.

Gemeyne stimmen von der Muntz [Dresden 1530] facsimile in Schefold (ed), Die drei Flugschriften, p 6.

Rössner, Deflation, Ch. 4.

Gemeyne stimmen von der Muntz [Dresden 1530], pp 7–10.

See the original text in Osse 1557, as printed in Oswald Artur Hecker (ed), Schriften Dr. Melchiors von Osse: mit einem Lebensabriss und einem Anhange von Briefen und Akten (Leipzig: Teubner, 1922); discussion in Dittrich, Kameralisten, pp 40–2, 382. Original: Dan wo gute montz ist, do ist viel handels; wo vil hendel und leut seind, do hat man den vortreib aller fruchte und war, und genissen des also nicht allein die hauswirte und hendeler sondern alle handwerksleute und kommen dordurch die land ingemein in besserung und aufnemen.

Georg Agricola, De precio metallorum et monetis libri III (Der Preis der Metalle und die Münzen, 1550), transl. in Hans Prescher (ed), Georgius Agricola: Schriften über Maße und Gewichte (Metrologie) (Berlin: Deutscher Verlag der Wissenschaften, 1959), p 352. Cf. with the classic argument in Jevons, Money.

Agricola, De precio metallorum et monetis libri III, p 352.

Ibid.

Ibid., p 258.

Georg Obrecht, Fünff Vnderschiedliche Secreta Politica, ed. Bertram Schefold ([Straßburg, 1617] Hildesheim: Olms-Weidemann, 2003), pp 107–9.

Small, The cameralists.

See discussion in Erik S. Reinert, ‘A brief introduction to Veit Ludwig von Seckendorff (1626–1692)’, European Journal of Law and Economics 19 (2005), 221–30.

Denn man zu dem tausch nicht allerley so weit bringen, noch an jedem ort so wohl, als an dem andern, verhandeln oder angenehm machen koennen, Seckendorff [1656] 1720, pp 406–7.

For example, David Graeber, Debt: the first 5,000 years (New York: Melville House, 2011); Sitta von Reden, Money in classical antiquity (Cambridge: Cambridge University Press, 2011); Peacock, Introducing money.

Seckendorff 1720 [1655], pp 410–11.

Ibid., pp 412–13.

Munro, ‘Münzkosten’.

Seckendorff 1720 [1655], p 416.

Johann Heinrich von Justi, Staatswirthschaft, 1755; Johann Heinrich von Justi, Grundsätze der Policey-Wissenschaft, 2 vols, 1756.

Johann Heinrich von Justi, Grundsätze der Policeywissenschaft [1756] 1782, I, p 198. On Justi, see Adam, The political economy of J.H.G. Justi; Erik S. Reinert, ‘Johann Heinrich Gottlob von Justi (1717–1771) – the life and times of an economist adventurer’, in Backhaus (ed), The beginnings of political economy, pp 33–74; and, more recently, Zhao, ‘Public happiness through manufacturing and innovation’.

Text (facsimile) in Schefold (ed), Die drei Flugschriften; discussion in Schefold, ‘Wirtschaft und Geld im Zeitalter der Reformation’. One of the best analyses still is Roscher, Geschichte der Nationaloekonomik in Deutschland, pp 102–6. See also Hans-Joachim Stadermann, Der Streit um gutes Geld in Vergangenheit und Gegenwart: Enthaltend drei Flugschriften über den Münzstreit der sächsischen Albertiner und Ernestiner um 1530 nach der Ausgabe von Walther Lotz (Tübingen: Mohr Siebeck, [1893] 1999).

At the time, the Saxon dynasty was divided between the Albertine and Ernestine line, with joint rulership over the silver mines in the Erz Mountains.

Die Muentz Belangende Antwort vnd bericht [1530] 2000, p 41). My translation based on the facsimile in Schefold (ed), Die drei Flugschriften. Original not paginated.

Munro, ‘Monetary origins’, tables.

Rössner, Deflation, Ch. 3.

See earlier.

See the essays in Magnusson (ed), Mercantilist economics.

Smith, The business of alchemy; Yamamoto, Taming capitalism before its triumph.

Roscher, ‘Die österreichische Nationalökonomik unter Kaiser Leopold I’, at 40.

On Becher, see Roscher, ‘Die österreichische Nationalökonomik’, pp 38–59; Herbert Hassinger, Johann Joachim Becher, 1635–1682: Beitrag zur Geschichte des Merkantilismus (Vienna: Holzhausen, 1951); sections in Schumpeter, History.

Becher, Politischer Discurs 1688 [1668], pp 269–70.

Rössner, Deflation.

Becher, Politischer Discurs 1688 [1668], p 272.

Ibid.

Becher, Politischer Discurs 1688 [1668], pp 272–4.

Karl Marx, Contribution to the critique of political economy (1859). Translation adopted from www.marxists.org/archive/marx/works/1859/critique-pol-economy/ch02_3.htm.

Frank L. Holt, When money talks: a history of coins and numismatics (Oxford: Oxford University Press, 2021), pp 109–11. Holt’s book came out long after I completed the present chapter, but I have tried to incorporate some of its findings.

F. Somner Merryweather, Lives and anecdotes of misers; or the passion of avarice displayed (London: Simpkin & Marshall, 1850).

Joseph von Sonnenfels, Grundsätze der Staatspolizey, Handlung und Finanzwissenschaft, 2nd edn (Munich: Strobel, 1801), pp 358ff.

Oresme 1355/58, cap. II. For Luther’s interpretation, see, for example, F.W. Lomler, G. Lucius, J. Rust and L. Sackreuter (eds), Geist aus Luther’s Schriften, oder: Concordanz der Ansichten und Urtheile des großen Reformators über die wichtigsten Gegenstände des Glaubens, der Wissenschaft und des Lebens, Vol 2: G bis J. (Darmstadt: Leske, 1829), II, p 249.

Bernard Mandeville, Fable of the bees or private vices publick benefits (London: Roberts, 1714), ed. Phillip Hart (London: Penguin Classics, 1989), p 119.

Mandeville, Fable of the bees, p 131.

Steuart, Principles of political oeconomy, Book I, Ch. XXVII, p 375.

After Fernand Braudel, Civilization and capitalism, 15th–18th century, new pbk edn (London: Phoenix Press, 2002), Vol 1, p 463.

Smith, Wealth of Nations, Book II, Ch. 3. On Smith and parsimony, see Thomas R. de Gregori, ‘Prodigality or parsimony: the false dilemma in economic development theory’, Journal of Economic Issues 7:2 (1973), 259–66. See Werrett, Thrifty science, Ch. 1, for an interesting conceptual history of parsimony as thrift. ‘Industry’ at the times of Smith still referred to someone being industrious, not industry as the factory mode of production. At Smith’s time, however, the concept had begun changing towards its more modern meaning; see Schui, Early debates about industry.

Craig Muldrew, The economy of obligation: the culture of credit and social relations in early modern England (Basingstoke: Palgrave, 1998); on the issue of early modern monetization, see, for example, Jan Lucassen, ‘Deep monetisation: the case of the Netherlands 1200–1940’, Tijdschrift voor Sociale en Economische Geschiedenis 11:3 (2014), 73–121; Jan Lucassen, ‘Deep monetization in Eurasia in the long run 1’, in R.J. van der Spek and Bas van Leeuwen (eds), Money, currency and crisis: in search of trust, 2000 bc to ad 2000 (Abingdon: Routledge, 2018); Nick Mayhew, ‘Money and the economy’, in Rory Naismith (ed), Money and coinage in the middle ages (Boston, MA: Brill, 2018), pp 203–30.

Surely there were some dynamics in premodern economy, and the myth of static European economy has been dispelled. See Jan de Vries and Ad van der Woude, The first modern economy: success, failure, and perseverance of the Dutch economy, 1500–1815 (Cambridge: Cambridge University Press, 1997); the critical review by Jan L. van Zanden, ‘The “revolt of the early modernists” and the “first modern economy”: an assessment’, The Economic History Review, 2nd series, 55:4 (2002), 619–41; Maarten Prak (ed), Early modern capitalism: economic and social change in Europe 1400–1800 (London: Routledge, 2006); Robert DuPlessis, Transitions to capitalism in early modern Europe: economies in the era of early globalization, c.1450–c.1820, new edn (Cambridge: Cambridge University Press, 2019).

Steuart, Principles, I, p 374.

Nicholas Mayhew, ‘Modelling medieval monetisation’, and ‘Appendix 2: the calculation of GDP from Domesday Book’, in Richard H. Britnell and Bruce M.S. Campbell (eds), A commercialising economy: England 1086 to c.1300 (Manchester: Manchester University Press, 1995), pp 55–77, 195–6.

After Jonathan Sperber, ‘Marx on money’, in Mary Lindemann and Jared Poley (eds), Money in the German-speaking lands (New York: Berghahn, 2017), pp 173–85, at p 180.

Wilhelm Roscher, System der Volkswirthschaft: Ein Hand- und Lesebuch für Geschäftsmänner und Studierende, Vol 1 (Stuttgart: Cotta, 1854), p 213.

Frank Hatje, ‘Status, friendship, and money in Hamburg around 1800: debit and credit in the diaries of Ferdinand Beneke (1774–1848)’, in Lindemann and Poley (eds), Money in the German-speaking lands, pp 137–55, at 139, quoting Büsch on money, circulation and civilization.

I have used the German edition, Karl Pribram, Geschichte des ökonomischen Denkens (Frankfurt-am-Main: Suhrkamp, 1998).

Pribram, Geschichte, Vol 1, pp 147–8.

Schumpeter, History of economic analysis, p 316.

William Potter, The key of wealth, or a new way for improving trade (London: R.A., 1650), Preface, not paginated; Barry Supple, Commercial crisis and change in England, 1600–1642 (Cambridge: Cambridge University Press, 1964).

Thus, MV=PT.

Potter, The key of wealth, Book I, section VII; Book II, section III.

Translating literally as ‘cheap market’, meaning a glut of commodities which kept product prices low.

Potter, The key of wealth, p 41, original in italics.

Schumpeter, History, p 318–19; cf. Anne Murphy, The origins of English financial markets: investment and speculation before the South Sea Bubble (Cambridge: Cambridge University Press, 2009); essays in Daniel Carey and C. Finlay (eds), Empire of credit: the financial revolution in the British Atlantic world, 1688–1815 (Dublin: Irish Academic Press, 2011); Wennerlind, Casualties of credit.

Pribram, Geschichte, Vol I, p 147.

Charles Davenant, ‘On the protection and care of trade’, in Sir C. Whitworth (ed), The political and commercial works of that celebrated writer Charles D’Avenant, 5 vols, Vol 1 (London: Horsefield et al., 1771), p 447.

Heckscher, Der Merkantilismus, Vol II, p 198.

Mary S. Morgan, ‘Measuring instruments in economics and the velocity of money’, LSE Working Papers on the Nature of Evidence: How Well Do ‘Facts’ Travel? 13/06, 2006. http://eprints.lse.ac.uk/22535/1/1306Morgan.pdf, 14–15. See also Mary S. Morgan, The world in the model: how economists work and think (Cambridge: Cambridge University Press, 2012).

Andrea Finkelstein, Harmony and the balance: an intellectual history of seventeenth-century English economic thought (Ann Arbour: University of Michigan Press, 2000), p 112; Morgan, ‘Measuring instruments’, 3.

Quentin Skinner, ‘Meaning and understanding in the history of ideas’, History and Theory 8:1 (1969), 3–53.

Marjorie Grice-Hutchinson, The School of Salamanca: readings in Spanish monetary theory, 1544–1605 (Oxford: Clarendon Press, 1952); Marjorie Grice-Hutchinson, Early economic thought in Spain 1177–1740 (London: Allen and Unwin, 1978).

Quoted in Lionel Rothkrug, Opposition to Louis XIV (Princeton, NJ: Princeton University Press, 1965), p 90.

G. Strelin, Realwörterbuch für Kameralisten und Oekonomen: Vierter Band: von Flußarbeit bis Juwelen (Nördlingen: Beck, 1788), entry ‘Geld’, p 163.

Ibid., p 162.

Ibid., p 160.

Dorinda Outram, The Enlightenment (Cambridge: Cambridge University Press, 2019); on enlightened economic thought, see, most recently, Schabas and Wennerlind, A philosopher’s economist, esp. Ch. 5 and pp 154ff.; on Hume’s views of money, manufacturing and economic development, Wennerlind and Schabas (eds), David Hume’s political economy, and the forests’ worth of literature on Adam Smith and his political and economic thought, for a discussion of which there is no space here; Wennerlind, Casualties of credit; Carey and Finlay (eds), Empire of credit; (Karl Daniel) Heinrich Bensen, Versuch eines systematischen Grundnisses der reinen und angewandten Staatslehre für Kameralisten (Erlangen: Palm, 1798), p 302.

Strelin, Realwörterbuch, p 160.

Ed. Rössner, 2018.

See also Reinert, Translating empire; Sophus A. Reinert, ‘The empire of emulation: a quantitative analysis of economic translations in the European world, 1500–1849’, in Sophus A. Reinert and Pernille Røge (eds), The political economy of empire in the early modern world (London: Palgrave Macmillan, 2013), pp 105–28; Reinert, ‘Rivalry’.

Strelin, Realwörterbuch.

Ibid.

Ibid., p 162.

O’Brien, ‘The nature and historical evolution’; and further works discussed in Chapter 3.

Strelin, Realwörterbuch, p 150.

Eduard Baumstark, Kameralistische Encyclopädie: Handbuch der Kameralwissenschaften und ihrer Literatur für Rechts- und Verwaltungsbeamte, Land-Stände, Gemeinde-Räthe und Kameral-Kandidaten (Heidelberg: Groos, 1835), p 570.

Johann Heinrich Gottlob Justi, Grundsätze der Policeywissenschaft, 3rd edn (Göttingen: Vandenhoeck, 1782), pp 201–13. On bills of exchange, see Denzel, Das System des bargeldlosen Zahlungsverkehrs europäischer Prägung vom Mittelalter bis 1914; Denzel, Handbook of world exchange rates, Introduction.

Krünitz, Vol 17: Geld – Gesundheits=Versammlung. On the ‘mercantilist’ dimension of such claims, see Reinert and Philipp Rössner, ‘Cameralism and the German tradition of development economics’.

Eli F. Heckscher, Economic history of Sweden (Cambridge, MA: Harvard University Press, 1954), pp 183–9; Helga Schultz, Das ehrbare Handwerk: Zunftleben im alten Berlin zur Zeit des Absolutismus (Weimar: Böhlau, 1993), pp 18–25.

For example, Werrett, Thrifty science.

‘Allein der Umlauf des Geldes ist eine so wichtige Sache für die Commercien und Gewerbe, daß eines ohne das andere unmöglich stattfinden kann’, J.H.G. von Justi, Grundsätze der Policeywissenschaft, 2nd edn (Göttingen: Vandenhoeck, 1759), Vol I, p 161.

Ibid., pp 194–204; cf. Johannes Kasnacich-Schmid, ‘Grundsätze kameralistischer Geldpolitik’, Weltwirtschaftliches Archiv 80 (1958), 90–130, at 120–7.

Süddeutsche Zeitung, 28 July 1972, p 8: Lieber fünf Prozent Inflation als fünf Prozent Arbeitslosigkeit.

Schabas and Wennerlind, A philosopher’s economist, pp 154–60, and on hoarding, see pp 162–3.

Pehr Nicholas Christiernin, Utdrag af Foreldsntngar angaende den i Svea Rske upsttgne Wexel-Coursen (Stockholm: Lars Salvius, 1761); paraphrased in and quoted from Robert V. Eagly, ‘Money, employment and prices: a Swedish view, 1761’, Quarterly Journal of Economics 77:4 (1963), 626–36, at 630.

Berch, Inledning til Almänna Hushålningen, innefattande Grunden til Politie, Oeconomie och Cameralwetenskaperna.

Ibid., pp 417–23; see Reinert and Carpenter, ‘German language economic bestsellers’, pp 26–53, at pp 36–9.

Roscher, System der Volkswirthschaft, pp 209–10.

See Rössner, Martin Luther on commerce and usury, pp 1–160, for a short biographical sketch and extended discussion of Luther’s contribution to modern economic thought.

Luther, Address to the Christian Nobility of the German Nation, 1520. On the contemporary concept of nations competing, see discussion in Tom Scott, ‘The Reformation between deconstruction and reconstruction: reflections on recent writings on the German Reformation’, German History 26:3 (2008), 406–22; Caspar Hirschi, Wettkampf der Nationen: Konstruktionen einer deutschen Ehrgemeinschaft an der Wende vom Mittelalter zur Neuzeit (Göttingen: Wallstein Verlag, 2013); English version, Caspar Hirschi, The origins of nationalism: an alternative history from ancient Rome to early modern Germany (Cambridge: Cambridge University Press, 2011).

Helmut T. Lehmann and E. Theodore Bachmann (eds) Luther’s Works, Vol 35: Word and sacrament (Philadelphia, PA: Fortress Press, 1960), p 81.

Philipp Robinson Rössner, ‘Monetary theory and cameralist economic management, c.1500–1900 ad’, Journal for the History of Economic Thought 40:1 (2018), 99–134; Philipp Robinson Rössner, ‘Kameralismus, Kapitalismus und die Ursprünge des modernen Wirtschaftswachstums – aus Sicht der Geldtheorie’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 102:4 (2015), 437–71; Philipp Robinson Rössner, Velocity! The speed of monetary circulation as an historical protagonist in European economic thought and practice, c.1350–1800, Proceedings of the 2016 Istituto Datini Settimane di Studio (Prato, IT), XLVIII Study Week (‘I prezzi delle cose nell’età preindustriale/The prices of things in preindustrial times’), ed. Francesco Ammanati (Florence: Florence University Press, 2017), pp 259–90, on which parts of the present chapter are based.

Wilhelm von Schröder, Fürstliche Schatz- und Rentkammer (Leipzig: Gerdesius, 1686, 1705 edn), p 194. On Schröder, see, most recently, Vera Keller, ‘“A political Fiat Lux”: Wilhem von Schroeder (1640–1688) and the co-production of chymical and political oeconomy’, in Sandra Richter and Guillaume Garner (eds), ‘Eigennutz’ und ‘gute Ordnung’: Ökonomisierungen der Welt im 17. Jahrhundert (Wiesbaden: Harrassowitz, 2016), pp 353–78; Keller, ‘Happiness and projects between London and Vienna’; Vera Keller, ‘Perfecting the state: alchemy and oeconomy as academic forms of knowledge in early modern German-speaking Lands’, in Lindemann and Poley (eds), Money in the German-speaking lands, pp 26–42.

Bog, Der Reichsmerkantilismus; Rössner (ed), Philipp Wilhelm von Hörnigk’s Austria supreme (if it so wishes), Introduction, esp. pp 8–18 (chapter on ‘Who was Hörnigk?’).

Exceptions from the rule include Giorgio Riello, Cotton: the fabric that made the modern world (Cambridge: Cambridge University Press, 2013); Kenneth Lipartito, ‘Reassembling the economic: new departures in historical materialism’, American Historical Review 121:1 (2016), 101–39; Trentmann, Empire of things. Much-quoted general works on materiality: Arjun Appadurai (ed), The social life of things: commodities in cultural perspective (Cambridge: Cambridge University Press, 1986); Neil MacGregor, A history of the world in 100 objects (London: Penguin, 2012). Furthermore, Matthew Johnson, An archaeology of capitalism (Oxford: Blackwell, 1996); Janet Hoskins (ed), Biographical objects: how things tell the stories of people’s lives (New York: Routledge, 1998); Karen Harvey (ed), History and material culture: a student’s guide to approaching alternative sources (Abingdon: Routledge, 2009); Tara Hamling and Catherine Richardson (eds), Medieval and early modern material culture and its meanings (Farnham: Ashgate, 2010); Renata Ago, Gusto for things: a history of objects in seventeenth-century Rome (Chicago: University of Chicago Press, 2013); Paula Findlen (ed), Early modern things: objects and their histories, 1500–1800 (Abingdon: Routledge, 2013); on early modern political economy and its archaeological implications, Natascha Mehler, ‘The archaeology of mercantilism: clay tobacco pipes in Bavaria and their contribution to an economic system’, Post-Medieval Archaeology, 43:2 (2009), 261–28.

Nicholas J. Mayhew, ‘Modelling medieval Monetisation’, in Richard H. Britnell and Bruce M.S. Campbell (eds), A commercialising economy: England 1086 to c.1300 (Manchester: Manchester University Press, 1995) pp 55–77; Nicholas J. Mayhew, ‘Money supply, and the velocity of circulation’. Mayhew assumes considerable variation in English velocity over time. A conceptual discussion of velocity as a scientific concept of analysis can be found in Morgan, ‘Measuring instruments’; Mary Morgan, ‘An analytical history of measuring practices: the case of velocities of money’, in M. Boumans (ed), Measurement in economics: a handbook (London: Academic, 2007), pp 105–32. A classic survey of this matter is M.W. Holtrop, ‘Theories of the velocity of circulation of money in earlier economic literature’, Economic Journal Supplement: Economic History 4 (1929), 503–24; but see also Milton Friedman and Anna J. Schwartz, A monetary history of the United States 1867–1960 (Princeton, NJ: Princeton University Press, 1963); the learned discussion in G. Kulke, Der Zusammenhang zwischen der Höhe des Volkseinkommens und der Geldmenge (Stückgeld und kurzfristige Bankeinlagen) (Berlin: Duncker & Humblot, 1975), pp 41–50; M.D. Bordo and L. Jonung, ‘The long-run behavior of velocity: the institutional approach revisited’, Journal of Policy Modeling 12:2 (1990), 165–97; M.D. Bordo and L. Jonung, Demand for money: an analysis of the long-run behavior of the velocity of circulation, 3rd printing (New Brunswick, NJ: Taylor & Francis, 2009), Chs. 1 and 2, with a historical dimension, and graphs on pp 4ff. Most recently, Nuno Palma, ‘Reconstruction of money supply over the long run: the case of England, 1270–1870’, Economic History Review, 2nd series, 71:2 (2018), 373–92, Table A2, p 391. For Spain, see Yao Chen, Nuno Palma and Felix Ward, ‘Reconstruction of the Spanish money supply, 1492–1810’, CEPR Discussion Paper (revised version 2021), p 13 and Appendix C.1, p 28, for velocity.

T.M. Humphrey, ‘The quantity theory of money: its historical evolution and role in policy debates’, in Federal Reserve Bank of Richmond Economic Review 40 (1974), 2–19. Fisher believed that in the medium to long run, velocity varied with economic fluctuations and stages of economic development. See I. Fisher, Elementary principles of economics (New York: Macmillan, 1911), pp 79, 88; Milton Friedman, ‘Die Geldnachfrage: einige theoretische und empirische Ergebnisse’, in Milton Friedman, Die optimale Geldmenge und andere Essays, 2nd edn (Munich: Verlag Moderne Industrie, 1976), pp 157–98, at pp 157, 159–60; Roscher, System der Volkswirthschaft, pp 209–10.

Jack A. Goldstone, ‘Lessons from the English price revolution of the sixteenth and seventeenth centuries’, The American Journal of Sociology 89 (1984), 1122–60. See also Peter Lindert, ‘English population, wages and prices: 1541–1913’, The Journal of Interdisciplinary History 15 (1985), 609–34; somewhat contrary, E.A. Nicolini and F. Ramos, ‘A new method for estimating the money demand in pre-industrial economies: probate inventories and Spain in the eighteenth century’, European Review of Economic History 14 (2010), 145–77.

Nicholas J. Mayhew, ‘Population, money supply, and the velocity of circulation in England, 1300–1700’, The Economic History Review, new series, 48:2 (1995), 238–57, at 240.

Frank C. Spooner, The international economy and monetary movements in France, 1493–1725 (Cambridge, MA: Harvard University Press, 1972), Ch. 2; John H. Munro, ‘Petty coinage in the economy of late-medieval Flanders: some social considerations of public minting’, in Eddy H.G. Van Cauwenberghe (ed), Precious metals, coinage and the changes of monetary structures in Latin-America, Europe and Asia (late middle ages–early modern times) (Leuven: Leuven University Press, 1989), pp 25–56, at pp 38–9; John H. Munro, ‘Precious metals and the price revolution reconsidered: the conjuncture of monetary and real forces in the European inflation of the early to mid-16th century’, in Dennis O. Flynn, M. Morineau and Richard Von Glahn (eds), Monetary history in global perspective, 1500–1808/L’histoire monétaire: une perspective globale, 1500–1808/Historia monetaria: una perspectiva global, 1500–1808 (Seville: Secretariado de Publicaciones de la Universidad de Sevilla, 1998), pp 35–51, at p 47; P. Latimer, ‘The English inflation of 1180–1220 reconsidered’, Past & Present 171 (2001), 3–29, at 25. See also discussion in Philipp Robinson Rössner, ‘Monetary instability, lack of integration and the curse of a commodity money standard: the German lands, c.1400–1900 ad’, Credit and Capital Markets 47:2 (2014), 297–340, at 327–8.

This was because different social groups (economic actors) used different types or classes of money – there were several ‘transaction spheres’ in early modern Europe. Low-value or small change coins, sometimes called ‘black money’, monneie noire and so on, depreciated more quickly in value over time than full-bodied, high-value coins such as florins or thalers; Rössner, Deflation – devaluation – rebellion.

I am following the terminology and interpretation suggested in Francesco Boldizzoni, ‘La rivoluzione dei prezzi rivisitata: moneta ed economia reale in Alta Italia (1550–1630)’, Rivista Storica Italiana 117 (2005), 1002–36.

See figures and graphs in Blanchard, International lead production and trade; Ian Blanchard, The international economy in the ‘Age of the Discoveries’, 1470–1570: Antwerp and the English merchants’ world, ed. P.R. Rössner (Stuttgart: Franz Steiner, 2009), discussion in Ch. 1, and production figures ibid., Fig 1.1, p 20. These were based partly upon figures presented in Westermann, Das Eislebener Garkupfer und seine Bedeutung für den europäischen Kupfermarkt; Ekkehard Westermann, ‘Zur Silber- und Kupferproduktion Mitteleuropas vom 15. bis zum frühen 17. Jahrhundert’, Der Anschnitt 5–6 (1986), 187–211; with critical discussion in Ekkehard Westermann, ‘Über Beobachtungen und Erfahrungen bei der Vorbereitung der Edition einer vorindustriellen Produktionsstatistik. Zur Brandsilberproduktion des Falkenstein bei Schwaz/Tirol von 1470–1623’, in Ekkehard Westermann (ed), Quantifizierungsprobleme bei der Erforschung der europäischen Montanwirtschaft des 15. bis 18. Jahrhunderts (St. Katharinen: Scripta-Mercaturae-Verlag, 1988), pp 27–42; Ekkehard Westermann (ed), Die Listen der Brandsilberproduktion des Falkenstein bei Schwaz von 1470 bis 1623 (Vienna, 1988) (Leobener Grüne Hefte, NF, VII, 1988), pp 45–50; Ekkehard Westermann, ‘Zum Umfang der Silber- und Kupferproduktion Tirols 1470–1530. Probleme bei der Ermittlung von Produktionsziffern’, in W. Ingenhaeff and J. Bair (eds), Schwazer Silber – vergeudeter Reichtum? Verschwenderische Habsburger in Abhängigkeit vom oberdeutschen Kapital an der Zeitenwende vom Mittelalter zur Neuzeit (Innsbruck: Berenkamp, 2003), pp 271–86. A more recent survey is John H. Munro, ‘The monetary origins of the “price revolution”’, in Dennis O. Flynn, Arturo Giráldez and Richard von Glahn (eds), Global connections and monetary history, 1470–1800 (Aldershot: Ashgate, 2003), pp 1–34, tables. Trade data are summarized in J. de Vries, ‘Connecting Europe and Asia: a quantitative analysis of the Cape-route trade, 1497–1797’, in Flynn, Giráldez and von Glahn (eds), Global connections and monetary history, pp 35–106.

Morgan, ‘Measuring instruments’, pp 26–7.

Rössner, Deflation.

J. von Sonnenfels, Grundsätze der Policey, Handlung und Finanzwissenschaft, Pt. III (Vienna: Kurzböck, 1776), p 272.

Flynn and Giráldez, ‘Cycles of silver’. See also Flynn and Giráldez, ‘Arbitrage, China and world trade in the early modern period’; Dennis O. Flynn and Arturo Giráldez, ‘Born with a “silver spoon”: the origin of world trade in 1571’, Journal of World History 6 (1995), 201–21.

A hypothesis put forth as early as Wilhelm Abel, ‘Zur Entwicklung des Sozialprodukts in Deutschland im 16. Jahrhundert’, Jahrbücher für Nationalökonomie und Statistik 173 (1961), 448–89, and developed at length in his classic Agrarkrisen und Agrarkonjunktur: Eine Geschichte der Land- und Ernährungswirtschaft Mitteleuropas seit dem hohen Mittelalter, 3rd edn (Hamburg: Parey, 1978). Abel’s basic findings have been corroborated by Ulrich Pfister, ‘Die Frühe Neuzeit als wirtschaftshistorische Epoche. Fluktuationen relativer Preise 1450–1850’, in Helmut Neuhaus (ed), Die Frühe Neuzeit als Epoche (Munich: Oldenbourg, 2009), pp 409–34; Ulrich Pfister, ‘German economic growth, 1500–1850’, Contribution to the XVth World Economic History Congress, Utrecht, 3–7 August 2009.

For an overview on competing monetary models, as well as a compromise approach, see Nicholas J. Mayhew, ‘Prices in England, 1170–1750’, Past & Present 219:1 (2013), 3–39.

On which the classic in the field, Wilhelm Abel, Agrarkrisen und Agrarkonjunktur (transl. Agricultural fluctuations in Europe: from the Thirteenth to twentieth centuries) (London: Methuen, 1980).

Abel, Agrarkrisen und Agrarkonjunktur.

T.A. Brady, German histories in the age of Reformations, 1400–1650 (Cambridge: Cambridge University Press, 2009).

In addition to data summarized and discussed in Rössner, Deflation. See also Ulrich Pfister, ‘Consumer prices and wages in Germany, 1500–1850’, CQE Working Paper 15 (2010).

Rössner, Deflation, pp 97–310. For a compromise model, see Munro, ‘Monetary origins’; Mayhew, ‘Prices in England’.

On ingenious attempts at connecting numismatic method with monetary analysis, see Hansheiner Eichhorn, Der Strukturwandel im Geldumlauf Frankens zwischen 1437 und 1610: Ein Beitrag zur Methodologie der Geldgeschichte (Wiesbaden: Steiner, 1973); Joachim Schüttenhelm, Der Geldumlauf im südwestdeutschen Raum vom Riedlinger Münzvertrag 1423 bis zur ersten Kipperzeit 1618: Eine statistische Münzfundanalyse unter Anwendung der elektronischen Datenverarbeitung (Stuttgart: Kohlhammer, 1987); Michael North, Geldumlauf und Wirtschaftskonjunktur im südlichen Ostseeraum an der Wende zur Neuzeit (1440–1570): Untersuchungen zur Wirtschaftsgeschichte am Beispiel des Großen Lübecker Münzschatzes, der norddeutschen Münzfunde und der schriftlichen Überlieferung (Sigmaringen: Thorbecke, 1990); Joachim Schüttenhelm, ‘Problems of quantifying the volume of money in early modern times: a preliminary survey’, in Cauwenberghe (ed), Precious metals, pp 83–98.

See data presented in Rössner, ‘Crisis of the Reformation’.

Paas, Paas and Schofield, The Kipper und Wipper inflation.

For example, Jan de Vries, Economy of Europe in an age of crisis, 1600–1750 (Cambridge: Cambridge University Press, 1976); Jan de Vries and L.M. Smith (eds), The general crisis of the seventeenth century (London: Routledge, 1978); Geoffrey Parker, Global crisis: war, climate change and catastrophe in the seventeenth century (New Haven, CT: Yale University Press, 2013).

Hartmut T. Lehmann (ed), To the councilmen of all cities in Germany that they establish and maintain Christian schools, Luther’s Works, xlv, ed. W.I. Brandt, The Christian in society, Vol II (Philadelphia, PA: Concordia, 1962), p 351.

John Munro, ‘Patterns of trade, money, and credit’, in Thomas A. Brady, Heiko A. Oberman and James D. Tracy (eds), Handbook of European history 1400–1600: late middle ages, Renaissance and Reformation, Vol I: Structures and assertions (Leiden: Brill, 1994), pp 147–95, at pp 147–50.

Ibid.; Fernand Braudel and Frank C. Spooner, ‘Prices in Europe from 1450 to 1750’, in The Cambridge economic history of Europe, Vol IV: The economy of expanding Europe in the 16th and 17th centuries, eds. E.E. Rich and C.H. Wilson (Cambridge: Cambridge University Press, 1967), pp 374–486, at 400–4; Rössner, Deflation, Ch. 2.

Blanchard, International lead production; Ekkehard Westermann, ‘Der wirtschaftliche Konzentrationsprozeß im Mansfelder Revier und seine Auswirkungen auf Martin Luther, seine Verwandte und Freunde’, in Rosemarie Knape (ed), Martin Luther und der Bergbau im Mansfelder Land: Aufsätze (Lutherstadt Eisleben: Stiftung Luthergedenkstätten in Sachsen-Anhalt, 2000), pp 63–92; Lyndal Roper, Martin Luther: renegade and prophet (London: Vintage, 2017); Rössner, Martin Luther on commerce and usury, Ch. 2.

Philipp Robinson Rössner, ‘History through objects: the example of coins’, in Christ and Rössner (eds), History and economic life, pp 198–218.

Holt, When money talks, pp 126–37.

There are very few works discussing the connections between hoarding and velocity; the up-to-date account on the possibilities of interaction between numismatics and ancient monetary and economic history is Holt, When money talks, Chs. 7 and 8, esp. pp 126–8 on finding and understanding hoards predominantly from classical antiquity. For the German-speaking lands in the middle ages and early modern period, see Walter Hävernick and Numismatische Kommision der Länder in der Bundesrepublik Deutschland/Diskussionsvorbereitungen fuer die Numismatische Arbeitstagung Hamburg 8.–11. Oktober 1954, ‘Die deutschen Münzfunde des Mittelalters und der Neuzeit’ (typescript, Landesmuseum Halle, Moritzburg collections); Niklot Klüßendorf, Münzkunde – Basiswissen (Hanover: Hahn, 2009); Niklot Klüßendorf, Numismatik und Geldgeschichte: Basiswissen für Mittelalter und Neuzeit (Hanover: Hahn, 2015).

Portable Antiquities: https://finds.org.uk.

I am indebted to Stefano Locatelli and Nuno Palma for reminding me of this important aspect.

Klüßendorf, Münzkunde, pp 25–30.

Christopher Dyer, ‘Peasants and coins: the uses of money in the middle ages’, British Numismatic Journal 67 (1997), 30–47; I am indebted to Nuno Palma for bringing this paper to my attention; Piotr Guzowski, ‘Village court records and peasant credit in fifteenth- and sixteenth-century Poland’, Continuity and Change 29:1 (2014), 115–42.

Holt, When money talks, p 134.

Zuijderduijn, Medieval capital markets; C. Jaco Zuijderduijn and Tine de Moor, ‘Spending, saving, or investing? Risk management in sixteenth-century Dutch households’, Economic History Review, 2nd series, 66:1 (2013), 38–56.

Lucassen, ‘Deep monetisation: the case of the Netherlands 1200–1940’.

On which the present section is based.

Numismatische Kommission 1954, p 8.

Numismatische Kommission 1954, pp 14–15.

Martin Treu (ed), Martin Luther und das Geld: Aus Luthers Schriften, Briefen und Tischreden (Lutherstadt Wittenberg: Stiftung Luthergedenkstätte, 2000); Harald Meller and Landesmuseum (eds), Fundsache Luther: Archäologen auf den Spuren des Reformators (Stuttgart: Theiss; Halle: Landesamt für Denkmalpflege und Archäologie Sachsen-Anhalt, Landesmuseum für Vorgeschichte, 2008).

Numismatische Kommission 1954, pp 17–19. Of a total of 79 findings containing pennies found in rural hoards, 34 finds contain hoards with less than 100 pennies, 17 were of the 100–500 penny range, ten of the 500–1000 penny range and only eight of the more than 1000 penny range. Only ten out of 79 hoards found on the countryside contained gold coins; Ibid., p 19.

Numismatische Kommission 1954, pp 21–3.

Walter Hävernick, ‘Fundzahlen und wirtschaftliche Kraft der Landschaften Sachsen, Thüringen und Provinz Sachsen/Anhalt (11.–18.Jahrhundert)’, in Thomas Fischer & Peter Ilisch (eds) LAGOM – Festschrift für Peter Berghaus zum 60. Geburtstag m 20. November 1979 (Münster i. W.: Numismatischer Verlag Dombrowski, 1981), pp 349–52, Figs 1 and 2.

Holt, When money talks.

Scott, Society and economy in Germany.

C. Jaco Zuijderduijn and Roos van Osten, ‘Breaking the piggy bank: what can historical and archaeological sources tell us about late-medieval saving behaviour?’, Utrecht University, Centre for Global Economic History Working Paper No. 0065.

I am grateful to the curator of the coin collections in the Moritzburg, Halle, Federal State of Saxony-Anhalt, Mr Ulf Dräger, who gave me access to this database in December 2010.

Rössner, Deflation, Ch. 2.

Carlo M. Cipolla, ‘Economic depression of the Renaissance? I’, The Economic History Review, new series, 16:3 (1964), 519–24; Harry Miskimin, ‘Monetary movements and market structure – forces for contraction in fourteenth- and fifteenth-century England’, The Journal of Economic History XXIV (1964), 470–90; Harry Miskimin, The economy of later Renaissance Europe, 1460–1600 (Cambridge: Cambridge University Press, 1977), for a different viewpoint. See also Schüttenhelm, Geldumlauf; North, Geldumlauf; John Day, ‘The great bullion famine of the fifteenth century’, Past & Present LXXIX (1978), 3–54; Munro, ‘Monetary origins’. On the depression in the late medieval European mining economy, see Ekkehard Westermann, ‘Zur spätmittelalterlichen Depression der europäischen Montanwirtschaft. Stand und offene Fragen der Forschung’, in Der Tiroler Bergbau und die Depression der europäischen Montanwirtschaft im 14. Und 15. Jahrhundert, eds. Rudolf Tasser and Ekkehard Westermann (Innsbruck: Studien, 2004), pp 9–18.

Munro, ‘Monetary origins’, for a modernized monetarist explanation of late medieval and early modern inflation. For an earlier monetary explanation, see Earl J. Hamilton, American treasure and the price revolution in Spain, 1501–1650 (Cambridge, MA: Harvard University Press, 1934). The monetarist explanation of the Price Revolution ascribes the 16th-century inflation to a combined effect of monetary expansion due to the influx of American silver, as well as an increased speed in monetary circulation due to population and urbanization growth. A neo-Malthusian approach focuses on population and per capita resources, especially the deteriorating relation between the development of productive capacity (chiefly in agriculture) and claims (demand) on these resources. This led to changes in relative prices, especially a decline in real wages and living standards as grain and foodstuffs appreciated more quickly in value than other (manufactured) goods and nominal wages; see Abel, Agrarkrisen und Agrarkonjunktur.

Munro, ‘Monetary origins’.

For example, North, Geldumlauf; Day, ‘Bullion famine’; Munro, ‘Monetary origins’; Spufford, Money and its use in medieval Europe, pp 339–62; North, Das Geld und seine Geschichte (Munich: C.H. Beck, 2009), Chs. 2 and 3.

Day, ‘Bullion famine’.

Rössner, Deflation, pp 453–62.

Rössner, ‘Crisis of the Reformation’, pp 21–9.

Gustav (von) Schmoller, ‘Zur Geschichte der national-ökonomischen Ansichten in Deutschland während der Reformations’; Roscher, Geschichte der Nationaloekonomik in Deutschland; Rössner, Deflation, pp 204–35; Philipp Robinson Rössner, ‘Luther – Ein tüchtiger Ökonom? Über die monetären Ursprünge der Deutschen Reformation’, Zeitschrift für Historische Forschung 42:1 (2015), 37–74; Rössner, Martin Luther on commerce and usury; Rössner, ‘Burying money?’.

For example, Scott, ‘The Reformation between deconstruction and reconstruction’; Brady, German histories.

As argued in Kasnacich-Schmid, ‘Grundsätze kameralistischer Geldpolitik’, at 127.

See Marx’s derogatory remarks on cameralism in Das Kapital, afterword to the 2nd–4th editions.

Goldstone, ‘Lessons’.

Ibid.

G.H. Zincke, Grund=Riß einer Einleitung zu denen Cameral=Wissenschaften (Leipzig: Fuchs, 1742), p 278.

Sandl, Ökonomie des Raumes.

Anon. [Johann Daniel Crafft/Krafft], Bedencken von Manufacturen in Deutschland (Jena: Bauhofer 1683), pp 3–4.

See also Schui, Early debates about industry.

C.G. Rößig, Lehrbuch der Policeywissenschaft (Jena, 1786), pp 260, 265, 393–4.

Johann Georg Büsch, Sämtliche Schriften, Vol 9: Abhandlung vom Geldumlauf, Buch I–III (Vienna: Bauer, 1816), pp 409–14.

The literature on this concept (which many may now consider obsolete) is vast; landmark contributions include Franklin F. Mendels, ‘Proto-industrialization: the first phase of the industrialization process’, The Journal of Economic History, 32:1, The tasks of economic history (1972), 241–61; Peter Kriedte, Hans Medick and Jügen Schlumbohm, Industrialisierung vor der Industrialisierung: gewerbliche Warenproduktion auf dem Land in der Formationsperiode d. Kapitalismus (Göttingen: Vandenhoeck & Ruprecht, 1977); Sheilagh C. Ogilvie and Markus Cerman (eds), European proto-industrialization (Cambridge: Cambridge University Press, 1996).

Büsch, Abhandlung vom Geldumlauf, Buch I–III, pp 437–8.

J.G.H. Justi, Vergleichungen der Europäischen mit den Asiatischen und andern vermeintlich Barbarischen Regierungen (Berlin, Stettin and Leipzig: Johann Heinrich Rüdiger, 1762), pp 310–11.

Kasnacich-Schmid, ‘Grundsätze kameralistischer Geldpolitik’, at 110.

Joachim Georg Darjes, Erste Gründe der Cameralwissenschaften, 2nd edn (Leipzig: Breitkopf, 1768), p 209.

On Cain and Abel and a general economic reading, see Luigino Bruni, The economy of salvation: ethical and anthropological foundations of market relations (Cham: Springer, 2019), Ch. 4; Tomas Sedlacek, Economics of good and evil (Oxford: Oxford University Press, 2011) also evokes biblical stories in economics.

New King James version.

Paul Jacob Marperger, Das neu-eröffnete manufacturen-haus/in welchem die manufacturen insgemein/derselben verschiedene arten/die dazu benöthigte materialien und darin arbeitende künstler vorgestellet werden (Hamburg: Schillers & Kisner, 1721), pp 7, 9.

Bertram Schefold, Great economic thinkers from antiquity to the historical school: translations from the series Klassiker der Nationalökonomie (Abingdon: Routledge, 2016), pp 35–6.

Johann Heinrich Justi, Vollständige Abhandlung von denen Manufacturen und Fabriken, Vol 1 (Copenhagen: Roth, 1758), p 55.

Adam Smith, Lectures on Jurisprudence, p 224.

For example, Theatre des Arts et Metiers; transl. and ed. Johann Justi, Schauplatz der Künste und Handwerke, oder vollständige Beschreibung derselben, verfertiget oder gebilliget von denen Herren der Academie der Wissenschaften zu Paris (Leipzig: Johann Heinrich Rüdiger, 1762); 21 volumes appeared in total. Justi was succeeded by Daniel Gottfried Schreber as general editor (Vols 5–13).

Reinert, How rich countries got rich.

See Jürgen G. Backhaus (ed), Physiocracy, antiphysiocracy and Pfeiffer (New York: Springer, 2011); Kaplan and Reinert (eds), The economic turn.

Mokyr, A culture of growth, which pays little attention to manufacturing before the Industrial Revolution.

Jean-Louis Peaucelle, ‘Adam Smith’s use of multiple references for his pin making example’, The European Journal of the History of Economic Thought 13:4 (2006), 489–512; Hiram Coten, ‘The preindustrial economics of Adam Smith’, The Journal of Economic History 45:4 (2009), 833–53.

This project was more than a translation. The editors of single volumes included trademark cameralists like Daniel Gottfried Schreber and even celebrities such as Johann Heinrich Justi. They often added as much text and meaning by means of comments, footnotes and annotations to turn this project into something of ‘their’ own. On contemporary engravings of manufacturing, see imprints in Erika Herzfeld, Preußische Manufakturen: Großgewerbliche Fertigung von Porzellan, Seide, Gobelins, Uhren, Tapeten, Waffen, Papier u.a. im 17. und 18. Jahrhundert in und um Berlin (Berlin: Verlag der Nationen, 1996).

Sven Beckert and Seth Rockman (eds), Slavery’s capitalism: a new history of American economic development (Philadelphia: University of Pennsylvania Press, 2016), p 11, but usages of the term ‘factory’ and its physical manifestations as a commercial institution were much wider in the early modern period; see Wolfgang Reinhard, Empires and encounters: 1350–1750 (Cambridge, MA: Belknap, 2015); Wolfgang Reinhard, Die Unterwerfung der Welt: Globalgeschichte der europäischen Expansion 1415–2015 (Munich: C.H. Beck, 2018).

Justi, Manufacturen, Vol 1, 1st edn (Copenhagen: Roth, 1758), pp 5–6.

Wehler argued that there never was a (chrono)logical sequence or development from manufactory to factory capitalism, as there had always been a mix of industrial production types or sites, including domestic handicraft, manufactory, centralized or decentralized workshop or manufactory, quasi- or proto-factory and so on. It was the mix that changed over time. Steam engines were added after the 1700s, with some factory sites growing considerably bigger. It is difficult to place Fabrikstadt Krupp in Essen around 1900 alongside any quasi-factory setting of the preindustrial times, though. See Hans-Ulrich Wehler, Deutsche Gesellschaftsgeschichte Vol 1: Vom Feudalismus des alten Reiches bis zur defensiven Modernisierung der Reformära: 1700–1815, pp 102–12, 202ff.

Brunner, Conze and Koselleck (eds), Geschichtliche Grundbegriffe. On the project, as well as the wider remit, of Begriffsgeschichte, see Tribe, Economy of the word; Ernst Müller and Falko Schmieder, Begriffsgeschichte und historische Semantik: Ein kritisches Kompendium (Frankfurt-am-Main: Suhrkamp, 2016); Pernau and Sachsenmaier (eds), Global conceptual history: a reader. On the conceptual history of the term ‘industry’ in Voltaire’s writings, see Schui, Early debates about industry.

Andrew Ure, The philosophy of manufactures, original edn (London: Charles Knight, 1835), p 1.

For example, Jairus Banaji, ‘Globalising the history of capital: ways forward’, Historical Materialism 26:3 (2018), 143–66, at 161–3; Jairus Banaji, Brief history of commercial capitalism (London: Haymarket Books, 2020).

Eli F. Heckscher, Economic history of Sweden (Cambridge, MA: Harvard University Press, 1954), pp 183–9; Barry Supple, ‘The state and the industrial revolution’, in C.M. Cipolla (ed), The Fontana economic history of Europe, Vol 3: The industrial revolution, 1700–1914 (New York: Barnes & Noble, 1976), pp 312–13. For the German-speaking lands, Wehler, Deutsche Gesellschaftsgeschichte 1, pp 102–12; Karl Heinrich Kaufhold, as quoted in Sheilagh Ogilvie, ‘Beginnings of industrialisation’, in Sheilagh Ogilvie (ed), Germany: a new social and economic history, II (London: Arnold, 1996), p 291; Helga Schultz, Handwerker, Kaufleute, Bankiers: Wirtschaftsgeschichte Europas 1500–1800 (Frankfurt-am-Main: Fischer, 1997), pp 124–32.

Franz von Künsberg, Grundsätze der Fabrikpolizei besonders in Hinsicht auf Deutschland (Weimar: Hoffmann’s Witwe & Erben, 1792), p 7. On Künsberg, see Heinrich Lang, ‘Das Fürstbistum Bamberg zwischen Katholischer Aufklärung und aufgeklärten Reformen’, in Mark Häberlein (ed), Bamberg im Zeitalter der Aufklärung und der Koalitionskriege (Bamberg: University of Bamberg Press, 2014), pp 11–71, at pp 53–4.

Friedrich List, ‘Das nationale System der politischen Ökonomie’, in Ludwig Häusser (ed), Friedrich List’s gesammelte Schriften, III (Stuttgart and Tübingen: Cotta, 1851).

Friedrich Lenz (ed), Friedrich List’s kleinere Schriften, I: Zur Staatswissenschaft und politischen Ökonomie (Jena: Gustav Fischer, 1926), pp 367–436.

List called agriculture ‘lifeless’ or sterile (leblos) and thus unlikely to generate lasting economic spillover effects supporting sustained economic growth and development. This was mainly due to agriculture’s limited productivity-enhancing capacities, which were much lower than in other sectors. Accordingly, List was critical of Physiocracy; see Friedrich List, ‘Das nationale System der politischen Ökonomie’, pp 201–36, 330–3. On the other hand, List in his Wir wollen keine Fabriken! (1843) called for Germany to have a balanced economy, with equal contributions of the three sectors – agriculture, manufacturing/industry and services – to national wealth; see Friedrich Lenz (ed), Friedrich List’s kleinere Schriften, I: Zur Staatswissenschaft und politischen Ökonomie (Jena: Gustav Fischer, 1926), pp 594–626, at p 596. And in his Über die Beziehungen der Landwirtschaft zur Industrie und zum Handel (1844), ibid., pp 627–83, at p 629, he marked out agriculture as the most important and foundational sector of the economy without which neither of the other two would be able to flourish. On List, see, for example, Wilhelm Stieda, ‘Friedrich List’, Berichte über die Verhandlungen der Sächsischen Akademie der Wissenschaften zu Leipzig, Philologisch-historische Klasse, 80:1 (1928), 1–44; Hans Gehrig, Friedrich List und Deutschlands politisch-ökonomische Einheit (Leipzig: Koehler & Amelang, 1956); Carl Brinkmann, ‘Friedrich List’, in Handwörterbuch der Sozialwissenschaften, Vol 6 (Stuttgart: G. Fischer, 1959), pp 633–5; Walter Brauer, ‘List, Friedrich’, in Neue Deutsche Biographie (NDB), Vol 14 (Berlin: Duncker & Humblot, 1985), pp 694–7; William Otto Henderson, Friedrich List: Der erste Visionär eines vereinten Europas: Eine historische Biographie (Reutlingen: Verlagshaus Reutlingen, Oertel u. Spörer, 1989); David Levi-Faur, ‘Friedrich List and political economy of the nation-state’, Review of International Political Economy 4:1 (1997), 154–78; Arno Mong Daastøl, ‘Friedrich List’s heart, wit and will: mental capital as the productive force of progress’, PhD dissertaion, Universität Erfurt, 2011; Reinert, How rich countries got rich.

William Notz (ed), Friedrich List: Grundlinien einer politischen Ökonomie und andere Beiträge der Amerikanischen Zeit 1825–1832 (Berlin: Reimar Hobbing, 1931), p 105.

List, Das nationale System der politischen Ökonomie, after Rüdiger Gerlach, Imperialistisches und kolonialistisches Denken in der politischen Ökonomie Friedrich Lists (Hamburg: Kovač, 2009), p 43.

Erik Reinert and Arno Mong Daastøl, ‘Exploring the genesis of economic innovations: the religious Gestalt-Switch and the duty to Invent as preconditions for economic growth’, European Journal of Law and Economics 4 (1997), 233–83, a paper quoted, interestingly, in David S. Landes, The wealth and poverty of nations: why some are so rich and some so poor (New York: Norton, 1998).

Joel Mokyr, The lever of riches: technological creativity and economic progress (Oxford: Oxford University Press, 1990); Joel Mokyr, The gifts of Athena: historical origins of the knowledge economy (Princeton, NJ: Princeton University Press, 2002); Mokyr, Enlightened economy; Mokyr, A culture of growth. For German popular or economic enlightenment, see, for example, Holger Böning, Hanno Schmitt and Reinhart Siegert (eds), Volksaufklärung: eine praktische Reformbewegung des 18. und 19. Jahrhunderts (Bremen: Ed. Lumière, 2007); Marcus Popplow, Landschaften agrarisch-ökonomischen Wissens: Strategien innovativer Ressourcennutzung in Zeitschriften und Sozietäten des 18. Jahrhunderts (Münster: Waxmann, 2010); Black, The power of knowledge.

See, among other recent works, Peter Gay, Enlightenment: the science of freedom (New York: Norton, 1969); Roy Porter, The Enlightenment (London: Penguin, 2011); Georg Schmidt, Wandel durch Vernunft: Deutschland 1715–1806 (Munich: C.H. Beck, 2009); Outram, The Enlightenment.

Popplow, Landschaften agrarisch-ökonomischen Wissens; Böning, Schmitt and Siegert (eds), Volksaufklärung.

Holger Böning, ‘Das Intelligenzblatt’, in Ernst Fischer, Wilhelm Haefs and York-Gothart Mix (eds), Von Almanach bis Zeitung: Ein Handbuch der Medien in Deutschland 1700–1800 (Munich: Beck, 1999); Sabine Doering-Manteuffel, Josef Mancal and Wolfgang Wüst (eds), Pressewesen der Aufklärung: Periodische Schriften im Alten Reich (Berlin: Akademie-Verlag, 2001); Holger Böning, Periodische Presse, Kommunikation und Aufklärung: Hamburg und Altona als Beispiel (Bremen: Edition Lumière, 2002); Bob Clarke, From grub street to fleet street: an illustrated history of English newspapers to 1899 (Aldershot: Ashgate, 2007).

See also contributions in Popplow (ed), Landschaften agrarisch-ökonomischen Wissens.

Charles W. Cole, Colbert and a century of French mercantilism (Hamden, MA: Archon Books, 1964). On Colbertian resonances in modern industrial policy, see Elie Cohen, ‘Industrial policies in France: the old and the new’, Journal of Industry, Competition and Trade 7 (2007), 213–27. One of the best recent reassessments of Colbert is Moritz Isenmann, ‘War Colbert ein “Merkantilist”?’, in Moritz Isenmann (ed), Merkantilismus – Wiederaufnahme einer Debatte (Stuttgart: Franz Steiner, 2014), pp 143–67. See also Günther Ammon, ‘Jean-Baptiste Colbert’, in Holger Janusch (ed), Handelspolitik und Welthandel in der Internationalen Politischen Ökonomie (Wiesbaden: Springer, 2020), pp 3–11.

Modified from Weststeijn and Hartman, ‘An empire of trade’.

See case studies in Rössner (ed), Economic growth and the origins of modern political economy.

This is a state at work passim – albeit not always explicitly acknowledged – in the surveys in Larry Neal and Jeffrey G. Williamson (eds), The Cambridge history of capitalism, Vol 1: The rise of capitalism: from ancient origins to 1848 (Cambridge: Cambridge University Press, 2015).

Rössner, Martin Luther on commerce and usury, Chs. 2 and 3.

Elizabeth Lamond (ed), A discourse of the common weal of this realm of England. First printed in 1581 and commonly attributed to W.S. (Cambridge: Cambridge University Press, 1893), pp 92, 93; for criticism of Lamond’s edition and regarding different claims to possible authorship, Mary Dewar, ‘The authorship of the ‘discourse of the commonweal’, The Economic History Review, new series, 19:2 (1966), 388–400.

Giovanni Botero, The reason of state/Della ragione di stato, transl. P.J. and D.P. Waley, with an introduction by D.P. Waley (London: Routledge & Kegan Paul, 1956); Giovanni Botero, The greatness of cities, transl. Robert Peterson 1606 (New Haven, CT: Yale University Press, 1956), pp 150–3.

Ashworth, The Industrial Revolution, Ch. 8, pp 147–8.

Von Hörnigk, Austria Supreme (if it so wishes), pp 147–8.

Reinert and Carpenter, ‘German language economic bestsellers’, pp 26–53; Zac Zimmer, ‘Bitcoin and Potosi silver: historical perspectives on cryptocurrency’, Technology & Culture 58: 2 (2017), 307–34. On money, monetary policy, silver mining and global trade, see Chapter 5.

After Thomson in Maxine Berg, Pat Hudson and Michael Sonenscher (eds), Manufacture in town and country before the factory (Cambridge: Cambridge University Press, 1983), p 71.

Gentaro Seki, ‘Policy debate on economic development in Scotland: the 1720s to the 1730s’, in Sakamoto and Tanaka (eds), The rise of political economy in the Scottish Enlightenment, pp 22–38; Reinert and Carpenter, ‘German language economic bestsellers’; Sophus Reinert, ‘Giovanni Botero (1588) and Antonio Serra (1613): Italy and the birth of development economics’, in Reinert, Ghosh and Kattel (eds), Handbook of alternative theories of economic development, Ch. 1, pp 3–41; essays in Backhaus (ed), Physiocracy, antiphysiocracy and Pfeiffer; Kaplan and S. Reinert (eds), Economic turn; Reinert and Rössner, ‘Cameralism and the German tradition of development economics’.

Small, The cameralists.

Jan de Vries and Ad van der Woude, The first modern economy: success, failure, and perseverance of the Dutch economy, 1500–1815 (Cambridge: Cambridge University Press, 1997).

Veit Ludwig von Seckendorff, Additiones (Leipzig: Meyer, 1703), pp 166–7. In the original: ‘Diesem nach folget / daß es in FriedensZeiten an Leuten nicht ermangeln werde / wenn man dem gemeinen Mann ein erkleckliches und bestaendiges Verdienst schaffen kann: Es stehet aber eben die Kunst und difficultaet darinnen / was man vornehme und erfinde / uem solchen Verdienst / Tag= oder Jahr=Lohn zu schaffen’. On Seckendorff, see Reinert, ‘Cameralism and commercial rivalry’.

Developed in Reinert, How rich countries got rich.

Ibid.

Ibid.

Ibid.; Epstein, Freedom and growth; Stephan R. Epstein and Maarten Roy Prak (eds), Guilds, innovation, and the European economy, 1400–1800 (Cambridge: Cambridge University Press, 2008).

Zwang/monopolium, ibid., p 169.

Seckendorff, Additiones, 1720 edn: ‘Aber ein monopolium auf immer zu concediren ist ja so schaedlich und noch schlimmer als die zuenffte der handwercker’ (Jena: Johann Meyers Wittwe, 1720), p 238.

Seckendorff, Additiones, pp 172–3.

Ibid., pp 176–8.

Rudolf Forberger, Die Manufaktur in Sachsen vom Ende des 16. bis zum Anfang des 19. Jahrhunderts (Berlin: Deutsche Akademie der Wissenschaften zu Berlin, 1958); Ursula Forberger, ‘Crafft (Kraft), Johann Daniel’, in Sächsische Biografie, ed. Institut für Sächsische Geschichte und Volkskunde e. V./Martina Schattkowsky, Online issue: www.isgv.de/saebi/ (last accessed 20 January 2015).

[Johann Daniel Crafft/Krafft], Bedencken von Manufacturen in Deutschland (Jena: Bauhofer, 1683), pp 3–4.

Hörnigk, Austria Supreme, p 189.

Keller, ‘Happiness and projects between London and Vienna’.

Fürstliche Schatz- und Rentkammer, Leipzig 1686.

1705 edn, p 344.

Johann Heinrich Gottlob von Justi, Staatswirthschaft oder Systematische Abhandlung aller Oekonomischen und Cameral-Wissenschaften, die zur Regierung eines Landes erfodert [sic!] werden: In zween Theilen ausgefertiget (Leipzig: Breitkopf, 1755), Vol I, pp 144–268.

Zhao, ‘Public happiness through manufacturing and innovation’.

Justi, Vollständige Abhandlung von den Manufacturen und Fabriquen (1758), Vol 1, pp 49–50.

§187.

§198.

For example, A.J. Durie, The Scottish linen industry in the eighteenth century (Edinburgh: John Donald, 1979).

Tribe, Land, labour, and economic discourse; the relevant commentaries in Burkhardt and Priddat (eds), Geschichte der Ökonomie. On Wolf Helmhardt Hohberg, one of the 17th-century coryphées of the genre, see Brunner, Adeliges Landleben und europäischer Geist.

Staatswirthschaft, I, §188.

§185, note.

All §198.

§302.

Backhaus (ed), The beginnings of political economy; Jonsson, ‘Climate change and the retreat of the Atlantic’, 99–126; Seppel and Tribe (eds), Cameralism in practice; Nokkala and Miller (eds), Cameralism and the Enlightenment; Reinert, ‘Northern lights’.

In his preface to Vol 9 on metal working and locksmithery (1769).

Daniel Gottfried Schreber (ed), Schauplatz der Künste und Handwerke oder vollständige Beschreibung derselben, verfertigt oder gebilligt von den Herren der Academie der Wissenschaften zu Paris, vol 9 (Leipzig: Johann Jacob Kanter, 1769), Preface, pp 2–4.

Schreber (ed), Schauplatz, IX, Preface, p 1.

Justi, Schauplatz der Künste und Handwerke, Vol 1 (1762), Preface, p 9.

Michael Stürmer (ed), Herbst des alten Handwerks: Quellen zur Sozialgeschichte des 18. Jahrhunderts (Munich: Deutscher Taschenbuchverlag, 1979); Peter Burke, Popular culture in early modern Europe (Aldershot: Scolar Press, 1994).

Mokyr, A culture of growth.

Schreber (ed), Schauplatz, Vol IX, Preface, p 4.

Justi (ed), Schauplatz, I, p 50.

‘Es ist nur eine einzige Ursache vorhanden, warum eine gute Policey denen Fleischhauern gestatten, oder ihnen so gar gesetzlich auferlegen kann, ihren Talk nicht roh zu verkaufen, sondern denselben vorher auszuschmelzen. Diese ist, daß der Talk so leicht verdirbt, und in eine Art von Fäulung gehet, welche der Güte desselben so nachtheilig ist; dieses Verderben würde sich gar öfters ereignen, wenn die Fleischer nicht so fort Gelegenheit zum Absatz hätten, oder um einen bessern Preiß zu erhalten, denselben nicht auf das erste Geboth loßschlagen wollten. Dahingegen sind gar viele Ursachen, welche die Policey bewegen können, das Ausschmelzen des Talkes, denen Lichtziehern zu überlassen. Der Talk ist das hauptsächlichste Material der Lichtzieher; sie müssen also von dessen Güte und Aufrichtigkeit versichert seyn. Dieses können sie aber niemals, wenn sie ihn nicht selbst ausschmelzen.’

See also Reinert, Translating empire.

Recent global surveys include Vries, Escaping poverty; Koyama and Rubin, How the world became rich.

Smith, Wealth of Nations, 1776, Book I, Ch. 1.

Wrisberg faiences are featured in Gordon Campbell (ed), Grove Encyclopedia of Decorative Arts (Oxford: Oxford University Press, 2006), Vol 2, p 563. Archival deposits and fragments of the Goertz noble family archive are stored in Landeshauptarchiv Hanover, Nebenstelle Pattensen, Dep. 63 (part of which is on microfilm). On the history of the Wrisberg estates, see Paul Graff, Geschichte des Kreises Alfeld (Hildesheim: A. Lax, 1928); Michael la Corte, Emblematik als Teil der profanen Innenraumgestaltung deutscher Schlösser und Herrenhäuser: Vorkommen – Form – Funktion (Göttingen: Cuvillier, 2019), pp 186–8; Sophie Kaminski, Die Idee der Nachhaltigkeit und die Landschaft des 18. und 19. Jahrhunderts am Beispiel des südlichen Raums Hildesheim (Göttingen: Universitätsverlag Göttingen, 2020), pp 250–82. On the history of prices, wages and business economics of the Wrisberg estate, see Werner Graf von Schlitz genannt von Görtz, Die Entwicklung der Landwirthschaft auf den Goertz-Wrisbergschen Gütern in der Provinz Hannover auf Grund archivalischen Materials (Jena: Fischer, 1880).

Oskar Kiecker & Paul Graff (ed), Kunstdenkmäler der Provinz Hannover Vol. 2.6 (Hanover: Schulze, 1929), pp 315–16. Motifs were drawn, apart from Diego Saavedra, from artists including or Tacitus emblematicus (1584–1648), Otto van Vaen (1556–1629), or Ovidius et Horatius emblematici and Joachim Camerarius the Younger (1534–1598) called Plinius emblematicus. See Martin Boyken, Die Spruchfliesen von Wrisbergholzen (Hildesheim: Gerstenberg 1966); Johannes Köhler, Angewandte Emblematik im Fliesensaal von Wrisbergholzen bei Hildesheim (Hildesheim: A. Lax, 1988), pp 18–44, 81–2.

Corte, Emblematik, p 180, n 784.

J.H. Hanford, The Princeton University Library Chronicle, Vol 17, No. 1 (1955), pp 40–5.

Diego Saavedra Fajardo, Idea de un principe politico christiano, representada en cien empresas (Münster: Nicolao Enrico, 1640), Preface (‘Al Letor’), p 1: ‘En la trabaiosa ociasodad de mis continuous viajes por Alemania’. See Hugh Chisholm, ‘Saavedra Fajardo, Diego de’, Encyclopædia Britannica 23, 11th edn (Cambridge: Cambridge University Press, 1911), pp 954–5.

Andrew C. Thompson, Britain, Hanover and the Protestant interest, 1688–1756 (Woodbridge: Boydell & Brewer, 2006), Ch. 3.

Since most 18th-century records from the private archive of the Goertz-Schlitz baronial family seem to have been lost, much of the Wrisberg business history remains conjectural; email correspondence with State Archive of Lower Saxony (Niedersächsisches Landesarchiv Abteilung Hannover), 10 January 2022, and Prof. Arndt Reitemeier, Göttingen.

Rudi H. Kaethner and Martha Kaethner, Weilrod: Die Geschichte von dreizehn Taunusdörfern (Weilrod: Geschichtsverein, 1987), pp 388–400.

Summarized in Allen, British Industrial Revolution; Vries, Escaping poverty; Koyama and Rubin, How the world became rich, pp 62–3; Rosenthal and Wong, Before and beyond divergence.

Classic accounts include Franklin F. Mendels, ‘Proto-industrialization: the first phase of the industrialization process’, Journal of Economic History 32:1 (1972), 241–26; Peter Kriedte, Hans Medick and Jürgen Schlumbohm, Industrialisierung vor der Industrialisierung: Gewerbliche Warenproduktion auf dem Land in der Formationsperiode d. Kapitalismus (Göttingen: Vandenhoeck und Ruprecht, 1977); D.C. Coleman, ‘Proto-industrialization: a concept too many’, The Economic History Review, new series, 36:3 (1983), 435–48; Sheilagh Ogilvie and Markus Cerman (eds), European proto-industrialization (Cambridge: Cambridge University Press, 1996).

Hela Schandelmaier, Niedersächsische Fayencen [Pt 1]: Die niedersächsischen Manufakturen: Braunschweig I und II, Hannoversch Münden, Wrisbergholzen (Hanover: Kestner-Museum, 1993), pp 66–7, and catalogue with images of items from Wrisbergholzen at pp 192–216.

For example, Daniel Gottfried Schreber, Die Kunst Porcelain zu machen, unter Approbation der Königl: Akademie der Wissenschaften zu Paris – übersetzt und mit Anmerkungen vermehrt und den nöthigen Kupfertafeln versehen, hrsg. von dem Grafen von Milly (Brandenburg: Bey Joh. Wendelin Halle und Joh. Samuel Halle, 1774).

For example, Johann Heinrich von Justi, Vollständige Abhandlung von denen Manufacturen und Fabriken, Vol 1 (Copenhagen: Roth, 1758), p 131; Beverly Lemire, ‘Consumerism in preindustrial and early industrial England: the trade in secondhand clothes’, Journal of British Studies 27:1 (1988), 1–24; Stuart M. Nisbet, ‘The making of Scotland’s first industrial region: the early cotton industry in Renfrewshire’, Journal of Scottish Historical Studies 29:1 (2009), 1–28; Reinert, Translating empire; Prasannan Parthasarathi and Giorgio Riello (eds), The spinning world: a global history of cotton textiles, 1200–1850 (Delhi: Primus Books, 2012); Trentmann, Empire of things; Jon Stobart and Vicki Howard (eds), The Routledge companion to the history of retailing (Abingdon: Routledge, 2019).

Natascha Mehler, ‘The archaeology of mercantilism: clay tobacco pipes in Bavaria and their contribution to an economic system’, Post-Medieval Archaeology 43:2 (2009), 261–81; Natascha Mehler, Tonpfeifen in Bayern (ca.1600–1745) (Bonn: Habelt, 2010).

Mehler, ‘Archaeology of mercantilism’; Nils Brübach, ‘“This precious Stinke” – Zur Wirtschaftsgeschichte des Tabaks, 1500–ca.1800’, in Hans Pohl (ed), The European discovery of the world and its economic effects on pre-industrial society 1500–1800 (Stuttgart: Franz Steiner, 1990), pp 141–52; Jordan Goodman, Tobacco in history: the cultures of dependence (London: Routledge, 1993); Julia A. King, ‘Still life with tobacco: the archaeological uses of Dutch art’, Historical Archaeology 41:1 (2007), 6–22. For the Ottoman Empire, see James Grehan, ‘Smoking and “early modern” sociability: the great tobacco debate in the Ottoman Middle East (seventeenth to eighteenth centuries)’, American Historical Review 111:5 (2006), 1352–77.

But as these years also represented, throughout Europe, years of failed harvest, crisis mortality and economic turmoil, lower wages may have reflected the economic downturn of the time; see Arthur E. Imhof, Aspekte der Bevölkerungsentwicklung in den nordischen Ländern 1720–1750, 2 vols (Bern: Francke, 1976); J.D. Post, Food shortage, climatic variability, and epidemic disease in pre-industrial Europe: the mortality peak in the early 1740s (Ithaca, NY: Cornell University Press, 1985); Philipp Robinson Rössner, ‘The 1738–41 harvest crisis in Scotland’, The Scottish Historical Review XC/1 (2011), 27–63.

Kaminski, Idee der Nachhaltigkeit, pp 275, 277–8.

All information from Schandelmaier, Niedersächsische Fayencen [Pt 1], pp 54–8.

Rudolf Forberger, Die Manufaktur in Sachsen: Vom Ende des 16. bis zum Anfang des 19. Jahrhunderts (Berlin: Akademie Verlag, 1958), pp 8–9.

On cultural transfer between the Electorate and the United Kingdom, see Arnd Reitemeier (ed), Kommunikation und Kulturtransfer im Zeitalter der Personalunion zwischen Großbritannien und Hannover (Göttingen: Universitätsverlag, 2014), esp. the essay by Conway; Benjamin Bühring, Die Deutsche Kanzlei in London: Kommunikation und Verwaltung in der Personalunion Großbritannien – Kurhannover 1714–1760 (Göttingen: Universitätsverlag Göttingen, 2021). On Göttingen and Justi, see Wakefield, Disordered police state.

Brisco, The economic policy of Robert Walpole, Ch. 3; Ashworth, The Industrial Revolution; Ashworth, Customs and excise. Underemphasized in Hoppit, Britain’s political economies.

Printed broadsheet dated Hanover, 12 November 1748, http://resolver.sub.uni-goettingen.de/purl?PPN722225261 (last accessed 25 May 2022).

On life and work in a late ancien régime porcelain manufactory, see Suzanne L. Marchand, Porcelain: a history from the heart of Europe (Princeton, NJ: Princeton University Press, 2020), pp 118–38.

Karl Heinrich Kaufhold, ‘Schwerpunkte des preußischen Exportgewerbes um 1800’, in Franz Mathis and Josef Riedmann (eds), Exportgewerbe und Außenhandel vor der Industriellen Revolution: Festschrift Georg Zwanowetz (Innsbruck: Kommissionsverlag der Österreichischen Kommissionsbuchhandlung, 1984), pp 243–60; Karl Heinrich Kaufhold, ‘Aspekte einer vorindustriellen gewerblichen Betriebsform’, in Meyer and Popplow (eds), Technik, Arbeit und Umwelt in der Geschichte, pp 41–52; Wehler, Deutsche Gesellschaftsgeschichte, Vol I: Vom Feudalismus des Alten Reiches bis zur Defensiven Modernisierung der Reformära 1700–1815, pp 102–12; and on subsequent transition to the factory age, ibid., pp 112–18. For a pessimistic assessment, Eli F. Heckscher, An economic history of Sweden (Cambridge, MA: Harvard University Press, 1954), pp 182–9; Helga Schultz, Handwerker, Kaufleute, Bankiers: Wirtschaftsgeschichte Europas 1500–1800 (Frankfurt-am-Main: Fischer, 1997), pp 124–32; Kleinschmidt, ‘Weltwirtschaft, Staat und Unternehmen im 18. Jahrhundert: Ein Beitrag zur Protoindustrialisierungsdebatte’, at 81.

For example, Acemoglu and Robinson, Why nations fail; or, in places, Koyama and Rubin, How the world became rich.

A view promoted, inter alia, in Pomeranz, Great divergence.

Marx, Das Kapital, Ch. 12 on ‘Teilung der Arbeit und Manufaktur’.

Schultz, Handwerker, p 128; Braudel, Civilisation and capitalism, Vol II, pp 329–42.

Schultz, Handwerker, p 125.

Sombart, Der moderne Kapitalismus, last edn, Vol II, pp 787–8, trans. Daniel Steur.

For example, Richard Sennett, The craftsman (London: Penguin, 2009). From a modern perspective: Mariana Mazzucato, The value of everything: making and taking in the global economy, 2nd edn (London: Penguin, 2019); Reinert, Visionary realism.

For early modern Scotland, this point has been defended in a sociologist’s history, Gordon Marshall, Presbyteries and profits: Calvinism and the development of capitalism in Scotland, 1560–1707 (Oxford: Clarendon Press, 1980).

See also Frederick W. Taylor, The principles of scientific management (New York: Harper, 1911), esp. pp 15–21; Morgen Witzel, A history of management thought, 2nd edn (Abingdon: Routledge, 2017), p 26.

Epstein and Prak (eds), Guilds, innovation and the European economy; Kluge, Die Zünfte; Bert De Munck, Guilds, labour and the urban body politic: fabricating community in the southern Netherlands, 1300–1800 (New York: Routledge, 2018); Ogilvie, The European guilds: an economic analysis.

For example, Robert S. Duplessis, Transitions to capitalism in early modern Europe: economies in the era of early globalization, c.1450–c.1820, new edn (Cambridge: Cambridge University Press, 2019).

Yazdani and Menon (eds), Capitalisms: towards a global history; Kaveh Yazdani, ‘18th-century plantation slavery, capitalism and the most precious colony in the world’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 108:4 (2021), 457–503.

Pomeranz, Great divergence; Wong, China transformed; Rosenthal and Wong, Before and beyond divergence: the politics of economic change in China and Europe (Cambridge, MA: Harvard University Press, 2011).

For an historian’s application, see Martin Daunton, Progress and poverty: an economic and social history of Britain 1700–1850 (Oxford: Oxford University Press, 1995), pp 1–19. For an economist’s assessment, see, for example, Joseph J. Spengler, ‘Adam Smith’s theory of economic growth: Part I’, Southern Economic Journal 25:4 (1959), 397–415; Horst Claus Recktenwald (ed), Adam Smith: Der Wohlstand der Nationen, 7th edn (Munich: Deutscher Taschenbuchverlag, 1996), Introduction, pp LIX–LXIII; Recktenwald was a leading German economist and editor of a modernized German translation of the Wealth of Nations.

Joseph A. Schumpeter, Theorie der wirtschaftlichen Entwicklung. Eine Untersuchung über Unternehmergewinn, Kapital, Kredit, Zins und den Konjunkturzyklus, 8th edn (Berlin: Duncker & Humblot, 1993), Ch. 1.

Reinert and Daastøl, ‘The other canon: the history of Renaissance economics’, Ch. 1; Mokyr, A culture of growth.

Wakefield, Disordered police state.

Krafft in a letter to Leibniz, in Leibniz, Schriften, Vol 3, cited in Nipperdey, Die Erfindung der Bevölkerungspolitik, p 326.

António Almodovar and José Luís Cardoso, A history of Portuguese economic thought (London: Routledge, 1998), pp 29–32.

List, Das nationale System, Ch. 5 on Spaniards and Portuguese. The quotations are taken from the English translation by Sampson Lloyd. On industrial policy in 17th-century Portugal, see Jorge Borges de Macedo, Problemas de historia da industria protuguesa no seculo XVIII (Lisbon: Associacao Industrial Portuguesa, 1963).

Quoted after James Cavanah Murphy, A general view of the state of Portugal; containing a topographical description thereof (London: T. Cadell Jun. and W. Davies, 1798), p 57.

See the most recent comparative GDP figures in Henriques and Palma, Comparative European institutions and the little divergence, 1385–1800.

[Johann Daniel Crafft/Krafft], Bedencken von Manufacturen in Deutschland (Jena: Bauhofer, 1683), Preface.

Thomas Heinrich Gadebusch, Schwedischpommersche Staatskunde (Greifswald: Roese, 1788), Vol 2, p 45.

Allen, British Industrial Revolution.

Gadebusch, Schwedischpommersche Staatskunde.

Haik Thomas Porada, Fürstendienerei oder Zukunftsweisendes unter feudalem Vorzeichen: Wirtschaftspolitische Reformpublizistik in Schwedisch-Pommern zwischen 1750 und 1806 (Sundsvall: Mitthögskolan, 1994), p 88; Jörg-Peter Findeisen, ‘Zukunftsorientiertes Wirtschaftsdenken in Schwedisch-Pommern’, pp 83–94, at p 93; Haik Thomas Porada, ‘An der Schwelle einer neuen Sozialordnung. Schwedisch-Pommern nach 1750 zwischen Zunft und Konkurrenz’, in Demminer Kolloquien 1985–1994, pp 35–76, at pp 48–9.

Roberts, ‘Practicing oeconomy during the second half of the long eighteenth century’; Smith, The business of alchemy; Werrett, Thrifty science.

Karl Heinrich Kaufhold, ‘Gewerbelandschaften in der frühen Neuzeit (1650–1800)’, in Hans Pohl (ed), Gewerbe und Industrielandschaften vom Spätmittelalter bis ins 20. Jahrhundert (Stuttgart: Franz Steiner, 1986), pp 112–202; Stromer, ‘Gewerbereviere und Protoindustrien in Spätmittelalter und Frühneuzeit’, ibid.

Lars Magnusson, Sveriges Ekonomisk Historia (Lund: Studentlitteratur, 2016), pp 102–40.

From a heterodox economists’ perspective, Chang, Kicking away the ladder; Reinert, How rich countries got rich. Classics in development include Hamilton, Report on the subject of manufactures; List, Das nationale System der politischen Ökonomie; Albert O. Hirschman, The strategy of economic development (New Haven, CT: Yale University Press, 1958); Alexander Gerschenkron, Economic backwardness in historical perspective: a book of essays (Cambridge, MA: Belknap, 1962). But see the polemic by Deirdre N. McCloskey and Alberto Mingardi, The myth of the entrepreneurial state (Great Barrington, Massachusetts: The American Institute for Economic Research, 2020).

Reinert, How rich countries got rich, Ch. 3; A.P. Thirlwall and Penélope Pacheco-López, Economics of development: theory and evidence, 10th edn (London: Bloomsbury, 2017).

List, National System of Political Economy, 1841, Ch. 6.

Rössner (ed), Philipp Wilhelm von Hörnigk’s Austria supreme (if it so wishes).

Jochen Hoock, ‘Frankreich 1650–1750’, in Wolfram Fischer et al (eds), Handbuch der europäischen Wirtschafts- und Sozialgeschichte, Vol 4: Europäische Wirtschafts- und Sozialgeschichte von der Mitte des 17. Jahrhunderts bis zur Mitte des 19. Jahrhunderts (Stuttgart: Klett Cotta, 1993), pp 476–93, at p 479.

Hoock, ‘Frankreich 1650–1750’, 481. See also a vivid depiction of this manufactory in Braudel, Civilisation and Capitalism, Vol II, pp 329–42.

List, National System.

Elisabeth Mikosch, ‘The manufacture and trade of luxury textiles in the age of mercantilism’, Textile Society of America Symposium Proceedings 612 (1990), 56–8.

Hoock, ‘Frankreich 1650–1750’, 487; Charles W. Cole, Colbert and a century of French mercantilism, 2 vols (New York: Columbia University Press, 1939).

Mikosch, ‘The manufacture and trade’.

E. Reinert, How rich countries grew rich, and why poor countries stay poor (London: Constable, 2008), Ch. 3

Isenmann, ‘War Colbert ein Merkantilist?’. See also the interesting interpretation of Colbert and mercantilism in Jacob Soll, Free market: the history of an idea (New York: Basic Books, 2022), Ch. 7.

Rössner, Freedom and capitalism.

Rössner, Scottish trade in the wake of Union 1700–1760, Ch. 2, Appendix on British customs duties after 1707.

Isenmann, ‘War Colbert ein Merkantilist?’; Soll, Free Market, Ch. 7.

Gottmann, Global trade, smuggling, and the making of economic liberalism, p 130. Apart from Cole, Colbert and Philippe Minard, La fortune du colbertisme: Etat et industrie dans la France des Lumières (Paris: Fayard, 1998), the current state of the art is Isenmann, ‘War Colbert ein “Merkantilist”’; Isenmann, ‘From privilege to economic law’. Both papers are based on Isenmann’s unpublished Habilitationsschrift (University of Cologne, 2016), pp 115ff., and pp 126ff. on industrial policy, which puts Colbertism in a new perspective. See also Arthur John Sargent, The economic policy of Colbert (London: Longmans, Green, 1899), Ch. 3; Thomas J. Schaeper, The French council of commerce, 1700–1715: a study of mercantilism after Colbert (Columbus (Ohio): Ohio State University Press, 1983), p 179; Jacob Soll, The information master: Jean-Baptiste Colbert’s secret state intelligence system (Ann Arbor: University of Michigan Press, 2014); Isenmann, ‘Égalité, réciprocité, souveraineté. The role of commercial treaties in Colbert’s economic policy’, in Antonella Alimento and Koen Stapelbroek (eds), The politics of commercial treaties in the eighteenth century – balance of power, balance of trade (Basingstoke: Palgrave Macmillan, 2017), pp 77–103.

Charles H. Wilson, ‘Trade, society and the state’, in Cambridge economic history of Europe, Vol 4: The economy of expanding Europe in the sixteenth and seventeenth centuries (Cambridge: Cambridge University Press, 1967), 487–576, at p 548. On discourses about manufacturing, development and enlightened economy in 18th-century Spain, see Adriana Luna Fabritius, ‘Signs of happiness: a proposal for a new Spanish empire’, History of Political Economy 53:3 (2021), 515–32. On early modern Spain and economic policy, see also Grafe, Distant tyranny.

Schinzinger, ‘Wirtschaftspolitik der Habsburger’.

Coenen, ‘Infant industry protectionism and early modern growth?’

H.J. Bidermann, Die technische Bildung im Kaiserthume Oesterreich: Ein Beitrag zur Geschichte der Industrie und des Handels (Vienna: C. Gerold und Sohn, 1854), p 26, cited after Otruba (ed), Österreich über alles, p 33; Gustav Otruba, Die Wirtschaftspolitik Maria Theresias (Vienna: Bergland Verlag, 1963), p 29.

Otruba, Wirtschaftspolitik; Karl Pribram, Geschichte der österreichischen Gewerbepolitik von 1740 bis 1860: auf Grund der Akten, Vol 1, 1740–1798 (Leipzig: Duncker & Humblot, 1907); John Komlos, Ernährung und wirtschaftliche Entwicklung unter Maria Theresia und Joseph II: eine anthropometrische Geschichte der Industriellen Revolution in der Habsburgermonarchie (St. Katharinen: Scripta-Mercaturae-Verlag, 1994), Ch. III; Herman Freudenberger, Lost momentum: Austrian economic development 1750s–1830s (Cologne: Böhlau, 2003), esp. pp 61–130; Bernhard Hackl, ‘Die staatliche Wirtschaftspolitik zwischen 1740 und 1792: Reform versus Stagnation’, in Helmut Reinalter (ed), Josephinismus als Augeklärter Absolutismus (Vienna, Cologne and Weimar: Böhlau, 2008), pp 191–272.

Antal Szantay, ‘Cameralism in the Habsburg monarchy and Hungary’, History of Political Economy 53:3 (2021), 551–69.

Hackl, ‘Die staatliche Wirtschaftspolitik’, p 194.

Roman Sandgruber, ‘Österreich 1650–1850’, in Wolfram Fischer et al (eds), Handbuch der europäischen Wirtschafts- und Sozialgeschichte, Vol 4: Europäische Wirtschafts- und Sozialgeschichte von der Mitte des 17. Jahrhunderts bis zur Mitte des 19. Jahrhunderts (Stuttgart: Klett-Cotta, 1993), pp 619–87, at p 668.

Hackl, ‘Die Staatliche Wirtschaftspolitik’, p 198.

Ibid., p 199. On politics under Charles VI, see Stefan Seitschek and Sandra Hertel (eds), Herrschaft und Repräsentation in der Habsburgermonarchie (1700–1740): Die kaiserliche Familie, die habsburgischen Länder und das Reich (Berlin: De Gruyter Oldenbourg, 2020).

Hackl, ‘Die Staatliche Wirtschaftspolitik’, p 205.

Herbert Knittler, ‘Die Donaumonarchie 1648–1848’, in Fischer et al (eds), Handbuch, pp 880–915, at p 907.

Roman Sandgruber, ‘Wirtschafts- und Sozialstatistik Österreichs 1750–1918’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte, 64:1 (1977), 74–83, at 77–8, 81.

Ibid., p 81.

Hans-Joachim Voth, ‘Height, nutrition, and labor: recasting the “Austrian model”’, Journal of Interdisciplinary History 25:4 (1995), 627–36, at 629–30. Cf. Reinhold Reith, ‘Arbeitsmigration und Technologietransfer in der Habsburgermonarchie in der zweiten Hälfte des 18. Jahrhunderts’, in Ulrich Troitzsch (ed), ‘Nützliche Künste’: Kultur- und Sozialgeschichte der Technik im 18. Jahrhundert (Münster: Waxmann, 1999), pp 51–65, at p 61.

Roman Sandgruber, ‘Marktökonomie und Agrarrevolution. Anfänge und Gegenkräfte der Kommerzialisierung der österreichischen Landwirtschaft’, in Anna Maria Drabek, Richard Georg Plaschka and Adam Wandruszka (eds), Ungarn und Österreich unter Maria Theresia und Joseph II: neue Aspekte im Verhältnis der beiden Länder: Texte des 2. Österreichisch-Ungarischen Historikertreffens (Vienna: Verlag der Österreichischen Akademie der Wissenschaft, 1982), pp 131–45, at 140.

Felix Butschek, Österreichische Wirtschaftsgeschichte: Von der Antike bis zur Gegenwart, 2nd edn (Vienna: Böhlau, 2012), pp 90–4.

Roman Sandgruber, ‘Einkommensentwicklung und Einkommensverteilung in der zweiten Hälfte des 18. Jahrhunderts – einige Quellen und Anhaltspunkte’, in Richard Georg Plaschka and Österreichisches Bundesministerium für Wissenschaft und Forschung (eds), Österreich im Europa der Aufklärung: Kontinuität und Zäsur in Europa zur Zeit Maria Theresias und Josephs II. Internationales Symposion in Wien 20.–23. Oktober 1980 (Vienna: Österreichische Akademie der Wissenschaften, 1985), pp 251–63, at p 263.

English translation: Quintessence of capitalism: a study of the history and psychology of the modern business man (New York: Dutton, 1915), p 148 (for both quotes).

Christopher A. Whatley, with Derek J. Patrick, The Scots and the Union (Edinburgh: Edinburgh University Press, 2008); Karen J. Cullen, Famine in Scotland: the ‘ill years’ of the 1690s (Edinburgh: Edinburgh University Press, 2010).

Thomas M. Devine, ‘Urbanisation’, in Thomas M. Devine and R. Mitchison (eds), People and society in Scotland, Vol I: 1760–1830 (Edinburgh: John Donald, 1988), pp 27–52; updated in Thomas M. Devine, The Scottish nation: a history 1700–2000, Amer. edn (New York: Viking/Penguin, 1999), Ch. 8.

The quote relates to a phrase coined by Sir T. M. Devine, see later; Christopher A. Whatley, The Industrial Revolution in Scotland (Cambridge: Cambridge University Press, 1997); Christopher A. Whatley, Scottish society: beyond Jacobitism, towards industrialization (Manchester: Manchester University Press, 2000); Thomas M. Devine, ‘Scotland’, in R. Floud and P. Johnson (eds), The Cambridge economic history of modern Britain, Vol I: Industrialisation, 1700–1860 (Cambridge: Cambridge University Press, 2004), pp 388–416; Thomas M. Devine, ‘The modern economy: Scotland and the Act of Union’, in Thomas M. Devine, C.H. Lee and G.C. Peden (eds), The transformation of Scotland: the economy since 1700 (Edinburgh: Edinburgh University Press, 2005), pp 13–33; and within the same volume, Thomas M. Devine, ‘Industrialisation’, pp 34–70. Further studies: Henry Hamilton, An economic history of Scotland in the eighteenth century (Oxford: Clarendon Press, 1963); Anthony Slaven, The development of the west of Scotland 1750–1960 (London: Routledge, 1976); Alastair J. Durie, The Scottish linen industry in the eighteenth century (Edinburgh: Donald, 1979); Roy H. Campbell, The rise and fall of Scottish industry 1707–1939 (Edinburgh: Donald, 1980); Roy H. Campbell, Scotland since 1707: the rise of an industrial society, 2nd revised edn (Edinburgh: Donald, 1985); Iain D. Whyte, Scotland before the Industrial Revolution: an economic and social history c.1050–c.1750 (London: Routledge, 1995); Iain D. Whyte, Scotland’s society and economy in transition, c.1500–c.1760 (Basingstoke: Palgrave, 1997).

Daniel Szechi, Britain’s lost revolution? Jacobite Scotland and French grand strategy, 1701–8 (Manchester: Manchester University Press, 2017).

Reinert, How rich countries got rich; Markus Lampe and Paul Sharp, A land of milk and butter: how elites created the modern Danish dairy industry (Chicago: University of Chicago Press, 2019).

Whatley, Scottish society: beyond Jacobitism, towards industrialization, passim; Patrick O’Brien, Trevor Griffiths and Philip Hunt, ‘Political components of the industrial revolution: parliament and the English cotton textile industry, 1660–1774’, Economic History Review, new series, 44:3 (1991), 395–423.

Thomas M. Devine, The transformation of rural Scotland: social change and the agrarian economy, 1660–1815 (Edinburgh: John Donald, 2001).

Hoppit, Britain’s political economies.

The most recent account is Alexander Murdoch, Making the Union work: Scotland 1651–1763 (Abingdon: Routledge, 2020).

Rachel, Die Handels- und Akzisepolitik Preussens 1713–1740, Vol 2/1, pp 305ff.

Thomas M. Devine and Philipp Robinson Rössner, ‘Scots in the Atlantic economy 1600–1800’, in John MacKenzie and Thomas M. Devine (eds), Scotland and the British Empire (Oxford: Oxford University Press, 2011), pp 30–54.

Fundamental studies are Whyte, ‘The growth of periodic market centres in Scotland, 1600–1707’; Marshall, Presbyteries and profits, passim; Richard Saville, Bank of Scotland: a history 1695–1995 (Edinburgh: Edinburgh University Press, 1996), Ch. 4; Whyte, Scotland before the industrial revolution, pp 288–90.

Whyte, ‘The growth of periodic market centres’.

Marshall, Presbyteries and profits; W.R. Scott, The constitution and finance of English, Scottish, and Irish joint-stock companies to 1720 (Cambridge: Cambridge University Press, 1910).

Watt, The price of Scotland.

Marshall, Presbyteries and profits; Whatley, The Scots and the Union.

For the Holy Roman Empire, see Bog, Der Reichsmerkantilismus.

Records of the Parliaments of Scotland to 1707, www.rps.ac.uk, last accessed 1 December 2022.

O’Brien, Griffiths and Hunt, ‘Political components of the industrial revolution’. See Alice Dolan, The fabric of life: linen and life cycle in England, 1678–1810, unpublished, University of Hertfordshire PhD (2015), pp 267–8.

Rössner, Freedom and capitalism.

Nisbet, ‘Scotland’s first industrial region’, quotes on p 5.

Parthasarathi, Why Europe grew rich.

Lennart Jörberg, ‘Structural change and economic growth: Sweden in the 19th century, Economy and History 8:1 (1965), 3–46; Magnusson, An economic history of Sweden; Lennart Schön, An economic history of modern Sweden (Abingdon: Routledge, 2012). On Swedish politics and commerce in the age of greatness, see David Kirby, Northern Europe in the early modern period: the Baltic world, 1492–1772 (Harlow: Addison Wesley Longman, 1990), Ch. 9; Michael North, The Baltic: a history (Cambridge, MA: Harvard University Press, 2016).

Mats Olsson and Patrick Svensson, ‘Agricultural growth and institutions: Sweden, 1700–1860’, European Review of Economic History 14 (2010), 275–304.

Klas Rönnbäck and Leos Müller, ‘Swedish East India trade in a value-added analysis, c.1730–1800’, Scandinavian Economic History Review (2020), 1–18.

K.-G. Hildebrand, ‘Foreign markets for Swedish iron in the 18th century’, Scandinavian Economic History Review 6:1 (1958), 3–52; Jennifer Newman, ‘“A very delicate experiment”: British mercantile strategies for financing trade in Russia, 1680–1780’, in Ian Blanchard, Anthony Goodman and Jennifer Newman (eds), Industry and finance in early modern history (Stuttgart: Franz Steiner, 1992), pp 116–42; Chris Evans and Göran Rydén, Baltic iron in the Atlantic world in the eighteenth century (Leiden: Brill, 2007).

Lennart Schön and Olle Krantz, ‘The Swedish economy in the early modern period: constructing historical national accounts’, European Review of Economic History 16:4 (2012), 529–54, at 542; Rodney Benjamin Edvinsson, ‘Swedish GDP 1620–1800: stagnation or growth?’, Cliometrica 7 (2013), 37–60, at 51–2; Lennart Andersson Palm, ‘Sweden’s 17th century – a period of expansion or stagnation?’, University of Gothenburg, Institutionen för historiska studier, Reports (2016). On Swedish governmentality and gender, see Maria Ågren, The state as master: gender, state formation and commercialisation in urban Sweden, 1650–1780 (Manchester: Manchester University Press, 2017).

Schön and Krantz, ‘The Swedish economy in the early modern period’, 542.

Schön and Krantz, ‘The Swedish economy in the early modern period’, Table 4 and Figure 5, p 546.

Wennerlind, ‘The political economy of Sweden’s Age of Greatness, pp 156–85.

Kirby, Northern Europe in the early modern period, p 234.

Wennerlind, ‘The political economy of Sweden’s Age of Greatness’.

Hermann Kellenbenz, ‘The organization of industrial production’, Cambridge economic history of Europe, Vol 5: The economic organization of early modern Europe (Cambridge: Cambridge University Press, 1977) pp 462–548, at p 472.

Murdoch, Network north; Evans and Rydén, Baltic iron.

Evans and Rydén, Baltic iron, p 31.

Evans and Rydén, Baltic iron, p 36.

Christopher Polhem, Christoph Polhems Commercienraths, Ritters und Commandeurs des königl. Nordsternordens Politisches Testament (Stockholm: 1760), transl. Daniel Gottfried Schreber (Grätz [Graz]: Widmanstätterische Erben, 1761), p 2.

Evans and Rydén, Baltic iron, pp 32–34 and passim.

Magnusson, An economic history of Sweden, p 63.

Magnusson, Economic history, p 69. On Polhem, see Reinert and Carpenter’s chapter in Rössner (ed), Economic reasons of state, pp 26–53, at pp 36–9.

Lars Magnusson, ‘Anders Chydenius’ life and work: an introduction’, in Maren Jonasson and Pertti Hyttinen (eds), Anticipating the wealth of nations: the selected works of Anders Chydenius, 1729–1803 (Abingdon: Routledge, 2011).

Ragnhild Hutchison, ‘The Norwegian and Baltic timber trade to Britain 1780–1835 and its interconnections’, Scandinavian Journal of History 37:5 (2012), 1–23, at 10–11, 14.

Werner Buchholz, ‘Vom Adelsregiment zum Absolutismus. Finanzwirtschaft und Herrschaft in Schweden im 17. Jahrhundert’, in Peter Rauscher, Andrea Serles and Thomas Winkelbauer (eds), Das Blut des Staatskörpers (Munich: Oldenbourg, 2012), pp 129–81, at p 131.

Walde, Storhetstidens litterära krigsbyten, Vol I, pp 108–11, 178.

On Schreber, see Johann Georg Meusel, Lexikon der vom Jahr 1750 bis 1800 verstorbenen teutschen Schriftsteller (Leipzig: Fleischer, 1812), Vol 12, pp 433–38, and Neuestes Conversations-Lexicon; oder, Allgemeine deutsche Real-Encyclopaedie fuer gebildete Staende, Vol 16, pp 293–4.

Eli F. Heckscher, Economic history of Sweden (Cambridge, MA: Harvard University Press, 1954), pp 10–11.

Koerner, Linnaeus.

Wennerlind, ‘Political economy of Sweden’s Age of Greatness’; Wennerlind, ‘Theatrum Œconomicum’.

Wennerlind, ‘Political economy of Sweden’s Age of Greatness’; for an anti-statist marginal voice, Wennerlind, ‘The magnificent spruce: Anders Kempe and anarcho-cameralism in Sweden’.

Koerner, Linnaeus.

After Erik Thomson, ‘Swedish variations on Dutch commercial institutions, 1605–1655’, Scandinavian Studies 77:3 (2005), 331–46, at 338.

Ibid., 332.

Jan de Vries, European urbanisation, 1500–1800 (London: Methuen, 1984).

Mats Morell, ‘Subsistence crises during the ‘Ancien’ and ‘Nouveau Régime’ in Sweden? An interpretative review’, Histoire & Mesure 26:1 (2011), 105–34; Magnusson, Economic history, Ch. 2.

According to figures in Fouquet and Broadberry, ‘Seven centuries of European economic growth and decline’.

K. Enflo and A. Missiaia, ‘Between Malthus and the industrial take-off: regional inequality in Sweden, 1571–1850’, Economic History Review (2020), 441–48, Figures 3, 4, 6; quotation taken from p 445.

Lennart Jörberg, ‘Structural change and economic growth: Sweden in the 19th century’, Economy and History 8:1 (1965), 3–46.

Magnusson, Economic history, pp 57–61, 66–75.

On timber and forestry and related processes and resources, see further L. Östlund, O. Zackrisson and H. Strotz, ‘Potash production in northern Sweden: history and ecological effects of a pre-industrial forest exploitation’, Environment and History 4:3 (1998), 345–58.

Hans Brems, ‘Sweden: from great power to welfare state’, Journal of Economic Issues 4:2/3 (1970), 1–16.

After Michael F. Metcalf, ‘Challenges to economic orthodoxy and parliamentary sovereignty in 18th century Sweden’, Legislative Studies Quarterly 7:2 (1982), 251–61, at 252.

Eli F. Heckscher, ‘The place of Sweden in modern economic history’, The Economic History Review 4:1 (1932), 1–22, at 6.

E.F. Heckscher, ‘Swedish population trends before the industrial revolution’, The Economic History Review, new series, 2:3 (1950), 266–77.

Metcalf, ‘Challenges to economic orthodoxy’, at 252.

Ivan T. Berend, An economic history of twentieth-century Europe: economic regimes from laissez-faire to globalization (Cambridge: Cambridge University Press, 2016), pp 229–30, 235–6.

Volckart, ‘The dear old Holy Roman Realm, how does it hold together?’; Ulrich Pfister and Hakon Albers, ‘Climate change, weather shocks and price convergence in pre-industrial Germany’, European Review of Economic History 25:3 (2021), 467–89; but see Oliver Volckart, ‘Power politics and princely debts: why Germany’s common currency failed, 1549–1556’, Economic History Review 70:3 (2017), 758–78; extended introduction in Volckart (ed), Eine Währung für das Reich.

Richard Tilly, ‘The political economy of public finance and the industrialization of Prussia, 1815–1866’, The Journal of Economic History 26:4 (1966), 484–97; collected studies in Wolfram Fischer (ed), Beiträge zu Wirtschaftswachstum und Wirtschaftsstruktur im 16. und 19. Jahrhundert (Berlin: Duncker und Humblot, 1971); Wolfram Fischer, ‘Das Verhältnis von Staat und Wirtschaft in Deutschland am Beginn der Industrialisierung’, in Wolfram Fischer, Wirtschaft und Gesellschaft im Zeitalter der Industrialisierung: Aufsätze-Studien-Vorträge (Göttingen: Vandenhoeck & Ruprecht, 1972), p 972; Hans-Peter Ullmann, ‘Staatliche Exportförderung und private Exportinitiative. Probleme des Staatsinterventionismus im Deutschen Kaiserreich am Beispiel der staatlichen Außenhandelsförderung (1880–1919)’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 65:2 (1978), 157–216; Volker Hentschel, Wirtschaft und Wirtschaftspolitik im wilhelminischen Deutschland: organisierter Kapitalismus u. Interventionsstaat? (Stuttgart: Klett Cotta, 1978); Hans-Werner Hahn, Wirtschaftliche Integration im 19. Jahrhundert: Die hessischen Staaten und der Deutsche Zollverein (Göttingen: Vandenhoeck & Ruprecht, 1982); W.R. Lee, ‘Economic development and the state in nineteenth-century Germany’, The Economic History Review, new series, 41:3 (1988), 346–67; Sheilagh Ogilvie, ‘The beginnings of industrialisation’, in Sheilagh Ogilvie (ed), Germany: a new social and economic history, vol II: 1600–1830 (London: Arnold, 1996), pp 263–307; Hubert Kiesewetter, Die Industrialisierung Sachsens: Ein regional-vergleichendes Erklärungsmodell (Stuttgart: Franz Steiner, 2007). On the industrial heritage of Europe, see Jordan Goodman and Katrina Honeyman, Gainful pursuits: the making of industrial Europe 1600–1914 (London: Arnold, 1992).

Lee, ‘Economic development and the state’, 350; Sidney Pollard, ‘Industrialization and the European economy’, Economic History Review, 2nd series, XXVI (1973), 636–48; Sidney Pollard (ed), Region und Industrialisierung: Studien zur Rolle der Region in der Wirtschaftsgeschichte der letzten zwei Jahrhunderte (Göttingen: Vandenhoeck & Ruprecht, 1980).

Drawing on outdated literature, Andre Wakefield, ‘Silver thaler and Ur-Cameralists’, in Mary Lindemann and Jared Poley (eds), Money in the German-speaking lands (New York: Berghahn, 2017), pp 58–73.

Kaufhold, ‘Gewerbelandschaften’; Stromer, ‘Gewerbereviere und Protoindustrien’.

Safley, Family firms and merchant capitalism in early modern Europe; Von Stromer, Oberdeutsche Hochfinanz 1350–1450, 3 vols.

Heinz Schilling, Aufbruch und Krise: Deutschland 1517–1648 (Berlin: Siedler, 1988); Richard Dietrich, Untersuchungen zum Frühkapitalismus im mitteldeutschen Erzbergbau und Metallhandel (Hildesheim: Olms 1991); Ian Blanchard, The international economy in the ‘age of the discoveries’, 1470–1570: Antwerp and the English merchants’ world (Stuttgart: Franz Steiner, 2009); Blanchard, International lead production and trade; Harreld, High Germans in the Low Countries. See the illustrated flagship work of the GDR historians’ collective: Autorenkollektiv (Laube, Steinmetz and Vogler), Illustrierte Geschichte der frühbürgerlichen Revolution.

See especially the new work by Pfister, ‘The timing and pattern of real wage divergence in pre-industrial Europe’. As Tilly and Kopsidis argue, ‘German states that successfully centralized power in the post-1648 period at the expense of particularistic interests would have a clear advantage in creating swiftly the institutional framework of a modern market economy after 1800’; Tilly and Kopsidis, From old regime to industrial state, p 25.

Joseph A. Schumpeter, Capitalism, socialism and democracy (New York: Harper Perennial Modern Thought, [1942] 2008).

Rössner, Deflation, p 295; Rudolf Palme, ‘Überblick über den Stand der Forschungen zur Bergbaugeschichte Tirols unter besonderer Berücksichtigung der Krisen und Konjunkturen’, in Christoph Bartels and Markus A. Denzel (eds), Konjunkturen im europäischen Bergbau in vorindustrieller Zeit: Festschrift für Ekkehard Westermann zum 60. Geburtstag (Stuttgart: Franz Steiner, 2000), pp 23–36, at pp 33–4.

Palme, ‘Überblick’, p 35.

Joseph von Sperges, Tyrolische Bergwerksgeschichte (Vienna: Trattner, 1765), p 5.

Mokyr, The gifts of Athena.

For Saxony at the time of the Reformation, I have discussed this in Rössner, Martin Luther on commerce and usury, Ch. 2.

The economic implications are discussed in Dittmar and Meisenzahl, ‘Public goods institutions, human capital, and growth’.

Agricola, De Re Metallica, Book VI; Westermann, Montanregionen.

Sidney Pollard, Marginal Europe: the contribution of marginal lands since the Middle Ages (Oxford: Clarendon, 1997); Westermann, Montanregionen.

Palme, ‘Überblick’, p 31.

Ekkehard Westermann, ‘Silbererzeugung, Silberhandel und Wechselgeschäft im Thüringer Saigerhandel von 1460–1620: Tatsachen und Zusammenhänge, Probleme und Aufgaben der Forschung’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 70:2 (1983), 192–214.

Ekkehard Westermann, ‘Das ‘Leipziger Monopolprojekt’ als Symptom der mitteleuropäischen Wirtschaftskrise um 1527/28’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 58:1 (1971), 1–23, at 3.

Ibid.

Most recently, Heller, Birth of capitalism; Banaji, A brief history of commercial capitalism.

Schumpeter, Capitalism, socialism and democracy.

Agricola, De Re Metallica, transl. Hoover, p xxv-xxvi.

Karin Zachmann, ‘Kursächsischer Merkantilismus’, in Günter Bayerl and Wolfhard Weber (eds), Sozialgeschichte der Technik: Ulrich Troitzsch zum 60. Geburtstag (Münster: Waxmann, 1998), pp 121–30, at pp 127–8.

Zachmann, ‘Kursächsischer Merkantilismus’, p 128, quoting Forberger, Die Manufaktur in Sachsen.

After Rachel, Die Handels- und Akzisepolitik Preussens 1713–1740, Vol 2/1, p 328. A list of protectionist and prohibitive measures can be found in Vol 2/2: Aktenstücke und Beilagen, pp 277–83.

Rachel, Die Handels- und Akzisepolitik Preussens 1713–1740, Vol 2/1, p 367; Rössner, Scottish trade in the wake of Union, statistical appendix and discussion in Chs. 4 and 5.

Rachel, Die Handels- und Akzisepolitik Preussens 1740–1786, Vol 3/2 (Berlin: Parey, 1928), p 601.

Most recent urbanization figures in Philipp Robinson Rössner, ‘Das friderizianische Preußen (1740–1786) – eine moderne Ökonomie?’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 98:2 (2011), 143–72; Ulrich Pfister, ‘Urban population in Germany, 1500–1850’, CQE Working Papers 9020, Center for Quantitative Economics (CQE), University of Münster (2020), pp 21–3, Figure 3.5; on taxation, see Gustav Schmoller, Umrisse und Untersuchungen zur Verfassungs-, Verwaltungs- und Wirtschaftsgeschichte besonders des Preußischen Staates im 17. und 18. Jahrhundert (Leipzig: Duncker & Humblot, 1898), p 180 (table); more recently, Spoerer, ‘The revenue structures of Brandenburg-Prussia’, pp 781–91; discussion in Schui, Rebellious Prussians.

Otto Hintze, Die Preußische Seidenindustrie im 18. Jahrhundert und ihre Begründung durch Friedrich den Großen, Vol 3 (Berlin: Parey, 1892), pp 103–35; Ingrid Mittenzwei (ed), Hugenotten in Brandenburg-Preußen (Berlin: Akademie der Wissenschaften der DDR, 1987); Erik Hornung, ‘Immigration and the diffusion of technology: the Huguenot diaspora in Prussia’, American Economic Review, 104:1 (2014), 84–122.

Rachel, Die Handels-, Zoll- und Akzisepolitik Preußens 1740–1786 (Acta Borussica Abt. C Vol 3/2) (Berlin: Parey, 1928), pp 364s.

I have used the annotated edition in Burkhardt and Priddat, Geschichte der Ökonomie, pp 143–80.

Summarized in Whaley, Germany and the Holy Roman empire, Vol 2, pp 270–7, at p 282. See also Burkhard Nolte, Merkantilismus und Staatsräson in Preußen: Absicht, Praxis und Wirkung der Zollpolitik Friedrichs II. in Schlesien und in westfälischen Provinzen (1740–1786) (Marburg: Herder, 2004).

Hintze, Preußische Seidenindustrie, p 1; Karl Heinrich Kaufhold, ‘Preußische Staatswirtschaft – Konzept und Realität 1640–1806. Zum Gedenken an Wilhelm Treue’, Jahrbuch für Wirtschaftsgeschichte/Economic History Yearbook 35:2 (1994), 33–70; Toni Pierenkemper, ‘Ideen und Erfolge staatlicher Merkantilpolitik im Deutschland des 17. Und 18. Jahrhunderts’, Acta Oeconomica Pragensia, roè. 16, è. 1 (2008).

David Blackbourn, The conquest of nature: water, landscape, and the making of modern Germany (London: W W Norton, 2007).

Hans-Joachim Uhlemann, Berlin und die Märkischen Wasserstraßen (Berlin [East]: Transpress, 1987), pp 10–1, 21–3, 34–8.

Otto Wiedfeld, Statistische Studien zur Entwickelungsgeschichte der Berliner Industrie von 1720 bis 1890 (Leipzig: Duncker & Humblot, 1898), pp 17–21.

Acta Borussica, 3/2, p 422.

Detailed discussion in Rössner, Scottish trade in the wake of Union, Ch. 3.

Lars Behrisch, Die Berechnung der Glückseligkeit Statistik und Politik in Deutschland und Frankreich im späten Ancien Régime (Ostfildern: Thorbecke, 2013); Deringer, Calculated values.

Kaufhold, ‘Schwerpunkte des preußischen Exportgewerbes’, at p 243; Jacob von Klaveren, ‘Die Manufakturen des Ancien Régime’, Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte, LI (1964), 145–91, at 185; Kaufhold, ‘Manufakturen im Alten Reich. Aspekte einer vorindustriellen gewerblichen Betriebsform’, in Meyer and Popplow (eds), Technik, Arbeit und Umwelt in der Geschichte, pp 41–52; Wiedfeld, Statistische Studien, p 63.

Hugo Rachel, Das Berliner Wirtschaftsleben im Zeitalter des Frühkapitalismus (Berlin: Rembrandt, 1931), pp 130–1, 141–4; Hugo Rachel and Paul Wallich, Berliner Grosskaufleute und Kapitalisten, Vol 2: Die Zeit des Merkantilismus 1648–1806, new edn (Berlin: De Gruyter, 1967), p 276.

Karl Heinrich Kaufhold, ‘Wirtschaftspolitik in Brandenburg-Preusen im europäischen Vergleich’, in Preussen 1701: Eine europäische Geschichte, Vol II: Essays (Berlin: Deutsches Historisches Museum, 2001), pp 101–8, at p 104; Karl Heinrich Kaufhold, Das Gewerbe in Preußen um 1800 (Göttingen: Schwartz, 1978) is still the state-of-the-art survey; but see Erika Herzfeld, Preußische Manufakturen: Großgewerbliche Fertigung von Porzellan, Seide, Gobelins, Uhren, Tapeten, Waffen, Papier u. a. im 17. und 18. Jahrhundert in und um Berlin (Bayreuth: Verlag der Nation, 1994); Frank Hoffmann, ‘Ein den thatsächlichen Verhältnissen entsprechendes Bild nicht zu gewinnen’: Quellenkritische Untersuchungen zur preußischen Gewerbestatistik zwischen Wiener Kongress und Reichsgründung (Stuttgart: Franz Steiner, 2012); Zhao, ‘Public happiness through manufacturing and innovation’.

Behre, Statistik, p 403.

A measure of capacity equalling roughly six tons.

Rounded figures after Behre, Statistik, 229.

Siemaszko, Das Oberschlesische Eisenhüttenwesen.

Kaufhold, Gewerbe.

Rössner, ‘Das friderizianische Preußen’, tables.

Wolfram Fischer, ‘Germany in the world economy during the nineteenth century’ (Annual Lecture of the German Historical Institute, London) (London, 1984), 3–30; Richard Tilly, ‘German industrialization and Gerschenkronian backwardness’, Rivista di Storia Economica, new series, 6:2 (1989), 139–64; Hubert Kiesewetter, ‘Competition for wealth and power. The growing rivalry between industrial Britain and industrial Germany 1815–1914’, Journal of European Economic History 20:2 (1991), 271–99; Jan de Vries and Ad van der Woude, The first modern economy: success, failure, and perseverance of the Dutch economy, 1500–1815 (Cambridge: Cambridge University Press, 1997).

Douglass C. North and Robert Paul Thomas, The rise of the Western world: a new economic history (Cambridge: Cambridge University Press, 1973); more recently, Acemoglu et al, ‘The rise of Europe’. On the economics of Gutsherrschaft (manorial or serfdom economy), see Kula, An economic theory of the feudal system; Boldizzoni, The poverty of Clio, with a critique especially of Douglas C. North’s interpretation of the manorial economy.

Spoerer, ‘The revenue structures of Brandenburg-Prussia, Saxony and Bavaria’, p 790, Tab. 1.

On Schröder, see, most recently, Keller, ‘Happiness and projects between London and Vienna’. On the classification of economic bestsellers and Schröder’s work, see Reinert et al, ‘80 economic bestsellers before 1850’, The Other Canon Foundation and Tallinn University of Technology Working Papers in Technology Governance and Economic Dynamics 74 (2017).

John Brewer, The sinews of power: war, money and the English state, 1688–1783 (Cambridge, MA: Harvard University Press, [1988] 1990); Michael North, ‘Finances and power in the German state system’, in Bartolomé Yun-Casalilla and Patrick K. O’Brien (eds), The rise of fiscal states: a global history, 1500–1914 (Cambridge: Cambridge University Press, 2012), pp 145–63, at pp 148–52.

Based on a limited number of partially outdated works, Messina, History of states and economic policies, pp 198–9.

Holt, When money talks.

Prasannan Parthasarathi, ‘State formation and economic growth in South Asia, 1600–1800’, in Rössner (ed), Economic growth and the origins of modern political economy, pp 189–203; Lieberman, Strange parallels, pp 329–34, 565–75; Irfan Habib, ‘Potentialities of capitalistic development in the economy of Mughal India’, Journal of Economic History 29:1 (1969), 32–78.

Spufford, Money and its use in medieval Europe; Sargent and Velde, The big problem of small change; Desan, Making money.

Samuel N. Eisenstadt (ed), The origins and diversity of axial age civilizations (New York: State University of New York Press, 1986).

Von Rohr, Einleitung zur Staats-Klugheit, pp 237–8.

David Graeber and David Wengrow, The dawn of everything: a new history of humanity (New York: Farrar, Straus and Giroux, 2021).

Stuart Lasine, ‘Samuel-Kings as a mirror for princes: parental education and Judean royal families’, Scandinavian Journal of the Old Testament: An International Journal of Nordic Theology 34:1 (2020), 74–88, at 84–5.

Tilly, Coercion, capital, and European states; Scott, Seeing like a state; Michel Foucault, Security, territory, population: lectures at the college de France, 1977–78, new edn (Basingstoke: Palgrave Macmillan, 2007).

Jonsson, ‘The origins of cornucopianism’; Jonsson and Wennerlind, Scarcity.

James Scott, Against the grain: a deep history of the earliest states (New Haven, CT: Yale University Press, 2018).

Piketty, Capital in the twenty-first century; Walter Scheidel, The great leveler: violence and the history of inequality from the Stone Age to the twenty-first century (Princeton, NJ: Princeton University Press, 2017); Alfani and Di Tullio, The lion’s share; Thomas Piketty, Capital and ideology (Cambridge, MA: Harvard University Press, 2020).

Kevin Hjortshøj O’Rourke, ‘Passions, interests, and hobbits’, Critical Quarterly 59:2 (2017), 122–6, at 122; Acemoglu and Robinson, The narrow corridor.

Acemoglu and Robinson, Why nations fail. But see the review by Vries, ‘Does wealth entirely depend on inclusive institutions and pluralist politics? A review of Daron Acemoglu and James A. Robinson, “Why nations fail: the origins of power, prosperity and poverty”’; Boldizzoni, ‘On history and policy’.

Mokyr, The lever of riches.

Keynes, Economic Opportunities for our grandchildren (1930). I have used the online version on www.marxists.org/reference/subject/economics/keynes/1930/our-grandchildren.htm (last accessed 31 October 2022).

Larry Neal and Rondo A. Cameron, A concise economic history of the world: from paleolithic times to the present, 5th edn (Oxford: Oxford University Press, 2016).

Cf. Georg Friedrich Knapp, Staatliche Theorie des Geldes, 1st edn (Munich: Duncker & Humblot, 1905); Suzanne de Brunhoff, The state, capital and economic policy (London: Pluto Press 1978); a theme picked up again in Graeber, Debt: the first 5,000 years.

Jevons, Money and the mechanism of exchange.

For example, Robert Brenner, ‘Agrarian class structure and economic development in pre-industrial Europe’, Past & Present 70 (1976), 30–75; Dobb, Studies in the development of capitalism; Ellen Meiksins Wood, The origin of capitalism, revised edition (London: Verso Books, 2002); Heller, The birth of capitalism; Henry Heller, A Marxist history of capitalism (Abingdon: Routledge, 2018); Banaji, A brief history of commercial capitalism; Yazdani and Mohajer, ‘Reading Marx in the divergence debate’, pp 173–240.

Werner Sombart, Der moderne Kapitalismus, 3 double vols (Munich: Duncker & Humblot, 1921–27).

Braudel, Civilisation and capitalism, Vols 2 and 3.

The literature on the origins and unfolding of the British Industrial Revolution is large. Game changers include Deane and Cole, British economic growth; a view later modified, inter alia, by N.F.R. Crafts, British economic growth during the Industrial Revolution (Oxford: Oxford University Press, 1985); T.S. Ashton, The Industrial Revolution (1700–1760) (Oxford: Oxford University Press, 1975); David Landes, The unbound Prometheus: technological change and industrial development in Western Europe from 1750 to the present, new edn (Cambridge: Cambridge University Press, 2008); Pat Hudson, The Industrial Revolution, new edn (London: Bloomsbury Academic, 2014). A recent synopsis is provided by Vries, Escaping poverty. There was a commercial revolution that preceded the industrialization, which is not always given much credit but see, for example, Ralph Davis, A commercial revolution: English overseas trade in the seventeenth and eighteenth centuries (London: Historical Association, 1967); for Scotland, I have established a quantitative framework and chronology of this revolution in Rössner, Scottish trade in the wake of Union 1700–1760; and for discussions of the possible connections between commercial and industrial revolution and the economic agents involved, Inikori, Africans and the industrial revolution in England; Nuala Zahedieh, The capital and the colonies: London and the Atlantic economy, 1660–1700 (Cambridge: Cambridge University Press, 2010).

Parthasarathi, ‘State formation and economic growth’.

For Scotland, Marshall, Presbyteries and profits.