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Economic history is the academic study of
economies An economy (from Greek Greek may refer to: Greece Anything of, from, or related to Greece Greece ( el, Ελλάδα, , ), officially the Hellenic Republic, is a country located in Southeast Europe. Its population is approximately 10.7 m ...

economies
or economic events of the past. Research is conducted using a combination of
historical method The term historical method refers to the collection of techniques and guidelines that historians use to research and write history, histories of the past. Secondary sources, primary sources and material evidence such as that derived from archaeo ...
s,
statistical methods Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data Data are units of information Information can be thought of as the resolution of uncertainty; it answers th ...
and the application of economic theory to historical situations and
institution Institutions, according to Samuel P. Huntington Samuel Phillips Huntington (April 18, 1927 – December 24, 2008) was an American political scientist, adviser and academic. He spent more than half a century at Harvard University Har ...
s. The field can encompass a wide variety of topics, including equality, finance, technology, labour, and business. It emphasizes historicizing the economy itself, analyzing it as a dynamic force and attempting to provide insights into the way it is structured and conceived. Using both
quantitative data Quantitative may refer to: * Quantitative research Quantitative may refer to: * Quantitative research, scientific investigation of quantitative properties * Quantitative analysis (disambiguation) * Meter (poetry), Quantitative verse, a metrical ...
and qualitative sources, economic historians emphasize understanding the historical context in which major economic events take place. They often focus on the institutional dynamics of systems of
production Production may be: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a statistic, g ...
,
labor Labour or labor may refer to: * , the delivery of a baby * , or work ** , physical work ** , a socioeconomic relationship between a worker and an employer Literature * , an American quarterly on the history of the labor movement * ', an academic ...

labor
, and
capital Capital most commonly refers to: * Capital letter Letter case (or just case) is the distinction between the letters that are in larger uppercase or capitals (or more formally ''majuscule'') and smaller lowercase (or more formally ''minusc ...
, as well as the economy's impact on society, culture, and language. Scholars of the discipline may approach their analysis from the perspective of different
schools of economic thought A school is an educational institution designed to provide learning spaces and learning environments for the teaching of students (or "pupils") under the direction of teachers. Most countries have systems of formal education, which is someti ...
, such as
mainstream economics Mainstream economics is the body of knowledge, theories, and models of economics, as taught by universities worldwide, that are generally accepted by economists as a basis for discussion. Also known as orthodox economics, it can be contrasted to he ...
,
Marxian economics Marxian economics, or the Marxian school of economics, is a school of political economic thought. Its foundations can be traced back to . However, unlike , Marxian economists tend to accept the concept of as a reasonable object of inquiry in i ...
, the
Chicago school of economics The Chicago school of economics is a Neoclassical economics, neoclassical Schools of economic thought, school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularize ...
, and
Keynesian economics Keynesian economics ( ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomics, macroeconomic theories and Economic model, models of how aggregate demand (total spending in the economy) strongl ...
. Sub-disciplines of the field include
financial Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money Image:National-Debt-Gillray.jpeg, In a 1786 James Gillray caricatu ...
and
business history Business history is a historiographical field which examines the history of firms, business methods, government regulation Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of ...
, which overlaps with areas of
social history Social history, often called the new social history, is a field of history History (from Greek , ''historia'', meaning "inquiry; knowledge acquired by investigation") is the study of the past. Events occurring before the invention of writing sy ...
such as
demographic Demography (from prefix ''demo-'' from Ancient Greek Ancient Greek includes the forms of the Greek language used in ancient Greece and the classical antiquity, ancient world from around 1500 BC to 300 BC. It is often roughly divided ...
and
labor historyLabor history or Labour history may refer to: * Labor history (discipline), a subfield of the discipline of history ** Australian labour movement The Australian labour movement began in the early 19th century and since the late 19th century has ...
. The
quantitative
quantitative
(
econometric Econometrics is the application of statistical methods to economic data in order to give empirical Empirical evidence is the information received by means of the senses, particularly by observation and documentation of patterns and behavior t ...
) study of economic history is also known as
cliometricsCliometrics (, also ), sometimes called new economic history or econometric history, is the systematic application of economic theory, econometric techniques, and other formal or mathematical methods to the study of history (especially social and e ...
. Historians have recently re-engaged with the study of economic history in a new field calling itself
history of capitalism The history of capitalism is diverse. The concept of capitalism has many debated roots, but fully fledged capitalism Capitalism is an economic system based on the private ownership of the means of production and their operation for Profit ( ...
.


Early history of the discipline

Arnold Toynbee Arnold Toynbee (; 23 August 18529 March 1883) was a British economic historian also noted for his social commitment and desire to improve the living conditions of the working classes. Life and career Toynbee was born in London, the son of the ...
made the case for combining economics and history in his pioneering study of the
Industrial Revolution The Industrial Revolution was the transition to new manufacturing processes in Great Britain, continental Europe Continental Europe or mainland Europe is the contiguous continent A continent is any of several large landmasse ...
. Toynbee declared, “I believe economics today is much too dissociated from history. Smith and Malthus had historical minds. However, Ricardo – who set the pattern of modern textbooks – had a mind that was entirely unhistorical.” There were several advantages in combining economics and history according to Toynbee. To begin with, it improved economic understanding. “We see abstract propositions in a new light when studying them in relation to historical facts. Propositions become more vivid and truthful.” Meanwhile, studying history with economics makes history easier to understand. Economics teaches us to look out for the right facts in reading history and makes matters such as introducing enclosures, machinery, or new currencies more intelligible. Economics also teaches careful deductive reasoning. “The habits of mind it instils are even more valuable than the knowledge of principles it gives. Without these habits, the mass of their materials can overwhelm students of historical facts.” In late-nineteenth-century Germany, scholars at a number of universities, led by
Gustav von Schmoller Gustav Friedrich (after 1908: von) Schmoller (; 24 June 1838 – 27 June 1917) was the leader of the "younger" German historical school of economics The historical school of economics was an approach to academic economics Economics () i ...
, developed the historical school of economic history. It argued that there were no universal truths in history, emphasizing the importance of historical context without quantitative analysis. This historical approach dominated German and French scholarship for most of the 20th century. The
historical school of economics The historical school of economics was an approach Approach may refer to: Aviation *Final approach (aeronautics) *Instrument approach *Visual approach Music * Approach (album), ''Approach'' (album), by Von Hertzen Brothers * ''The Approach'', an ...
included other economists such as
Max Weber Maximilian Karl Emil Weber (; ; 21 April 186414 June 1920) was a German Sociology, sociologist, historian, jurist, and political economy, political economist regarded as among the most important theorists of the development of Modernity, modern ...

Max Weber
and
Joseph Schumpeter Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian political economist. He was born in Moravia Moravia ( , also , ; cs, Morava ; german: link=no, Mähren ; pl, Morawy ; szl, Morawijo; la, Moravia) is a h ...
who reasoned that careful analysis of human actions, cultural norms, historical context, and mathematical support was key to historical analysis. The approach was spread to Great Britain by William Ashley (
University of Oxford , mottoeng = The Lord is my light , established = , endowment = £6.1 billion (including colleges) (2019) , budget = £2.145 billion (2019–20) , chancellor = The Lord Patten of Barnes Christopher Francis Patten, Baron ...
) and dominated British economic history for much of the 20th century. Britain's first professor in the subject was George Unwin at the
University of Manchester , mottoeng = Knowledge, Wisdom, Humanity , established = 2004 – University of Manchester Predecessor institutions: 1956 – UMIST (as university college; university 1994) 1904 – Victoria University of Manchester 1880 – Victoria Univer ...
. Berg, Maxine L. (2004) 'Knowles , Lilian Charlotte Anne (1870–1926)', ''Oxford Dictionary of National Biography'', Oxford University Press
accessed 6 Feb 2015
/ref>Berg, M. (1992). The first women economic historians. ''The Economic History Review'', 45(2), 308–329. Meanwhile, in France, economic history was heavily influenced by the Annales School from the early 20th century to the present. It exerts a worldwide influence through its journal '' Annales. Histoire, Sciences Sociales.'' Treating economic history as a discrete academic discipline has been a contentious issue for many years. Academics at the
London School of Economics , mottoeng = To understand the causes of things , established = 1895 , type = Public In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of s ...
and the
University of Cambridge , mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Scholars of ...
had numerous
disputes Controversy is a state of prolonged public dispute or debate, usually concerning a matter of conflicting opinion An opinion is a judgement, viewpoint, or Proposition, statement that is not conclusive, rather than facts, which are true statements ...
over the separation of economics and economic history in the
interwar era In the context of the history of the 20th century, the interwar period was the period between the end of the First World War on 11 November 1918 and the beginning of the Second World War on 1 September 1939. Despite the relatively short period ...
. Cambridge economists believed that pure economics involved a component of economic history and that the two were inseparably entangled. Those at the LSE believed that economic history warranted its own courses, research agenda and academic chair separated from mainstream economics. In the initial period of the subject's development, the LSE position of separating economic history from economics won out. Many universities in the UK developed independent programmes in economic history rooted in the LSE model. Indeed, the
Economic History Society The Economic History Society (EHS) is a learned society A learned society (; also known as a learned academy, scholarly society, or academic association) is an organization that exists to promote an discipline (academia), academic discipline, ...
had its inauguration at LSE in 1926 and the
University of Cambridge , mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Scholars of ...
eventually established its own economic history programme. In the United States, the field of economic history was largely subsumed into other fields of economics following the cliometric revolution of the 1960s. To many it became seen as a form of
applied economics Applied economics is the application of economic theory Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Co ...
rather than a stand-alone discipline.
CliometricsCliometrics (, also ), sometimes called new economic history or econometric history, is the systematic application of economic theory, econometric techniques, and other formal or mathematical methods to the study of history (especially social and e ...
, also known as the New Economic History, refers to the systematic use of economic theory and
econometric Econometrics is the application of statistical methods to economic data in order to give empirical Empirical evidence is the information received by means of the senses, particularly by observation and documentation of patterns and behavior t ...

econometric
techniques to the study of economic history. The term was originally coined by Jonathan R. T. Hughes and
Stanley Reiter Stanley Reiter (April 26, 1925 – August 9, 2014) was an United States, American author, economist, and Emeritus Professor at Northwestern University. Reiter was a leading pioneer in the field of mechanism design. In 2006, he and the 2007 Nobel p ...
and refers to
Clio In Greek mythology Greek mythology is the body of s originally told by the , and a of . These stories concern the and , the lives and activities of , , and , and the origins and significance of the ancient Greeks' own and practices. M ...

Clio
, who was the
muse In ancient Greek religion Ancient Greek religion encompasses the collection of beliefs, rituals, and Greek mythology, mythology originating in ancient Greece in the form of both popular public religion and Cult (religious practice), cult practi ...

muse
of history and heroic poetry in
Greek mythology Greek mythology is the body of myth Myth is a folklore genre Folklore is the expressive body of culture shared by a particular group of people; it encompasses the tradition A tradition is a belief A belief is an Attitude (psyc ...
. One of the most famous cliometric economic historians is
Douglass North Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. He was the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Economic Sciences. In the word ...

Douglass North
, who argued that it is the task of economic history to elucidate the historical dimensions of economies through time. Cliometricians argue their approach is necessary because the application of theory is crucial in writing solid economic history, while historians generally oppose this view warning against the risk of generating anachronisms. Early cliometrics was a type of
counterfactual history Counterfactual history, also sometimes referred to as virtual history, is a form of historiography Historiography is the study of the methods of historians in developing history as an academic discipline, and by extension is any body of hist ...
. However, counterfactualism was not its distinctive feature; it combines neoclassical economics with quantitative methods in order to explain human choices based on constraints. Some have argued that cliometrics had its heyday in the 1960s and 1970s and that it is now neglected by economists and historians. In response to North and
Robert Fogel Robert William Fogel (; July 1, 1926 – June 11, 2013) was an American economic historian and scientist, and winner (with Douglass North Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his wor ...
's
Nobel Memorial Prize in Economics The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
in 1993,
Harvard University Harvard University is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an absence of nearly t ...

Harvard University
economist
Claudia Goldin Claudia Goldin (born May 14, 1946) is the Henry Lee Professor of Economics at Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts. Established in 1636 and named f ...
argued that:
economic history is not a handmaiden of economics but a distinct field of scholarship. Economic history was a scholarly discipline long before it became cliometrics. Its practitioners were economists and historians studying the histories of economies... The new economic history, or cliometrics, formalized economic history in a manner similar to the injection of mathematical models and statistics into the rest of economics.
The relationship between economic history, economics and history has long been the subject of intense discussion, and the debates of recent years echo those of early contributors. There has long been a school of thought among economic historians that splits economic history—the study of how economic phenomena evolved in the past—from historical economics—testing the generality of economic theory using historical episodes. US economic historian Charles P. Kindleberger explained this position in his 1990 book ''Historical Economics: Art or Science?''. Economic historian
Robert Skidelsky Robert Jacob Alexander, Baron Skidelsky, (born 25 April 1939) is a British Economic history, economic historian. He is the author of a three-volume award-winning biography of British economist John Maynard Keynes (1883–1946). Skidelsky read hi ...
(
University of Cambridge , mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Scholars of ...
) argued that
economic theory Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. ...
often employs ahistorical models and methodologies that do not take into account historical context.
Yale University Yale University is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an absence of nearly two ...
economist
Irving Fisher Irving Fisher (February 27, 1867 – April 29, 1947) was an American economist An economist is a professional and practitioner in the social science Social science is the branch The branches and leaves of a tree. A branch ( or , ...

Irving Fisher
already wrote in 1933 on the relationship between economics and economic history in his " Debt-Deflation Theory of Great Depressions":
The study of dis-equilibrium may proceed in either of two ways. We may take as our unit for study an actual historical case of great dis-equilibrium, such as, say, the panic of 1873; or we may take as our unit for study any constituent tendency, such as, say, deflation, and discover its general laws, relations to, and combinations with, other tendencies. The former study revolves around events, or facts; the latter, around tendencies. The former is primarily economic history; the latter is primarily economic science. Both sorts of studies are proper and important. Each helps the other. The panic of 1873 can only be understood in light of the various tendencies involved—deflation and other; and deflation can only be understood in the light of various historical manifestations—1873 and other.


Scope and focus of economic history today

The past three decades have witnessed the widespread closure of separate economic history departments and programmes in the UK and the integration of the discipline into either history or economics departments. Only the LSE retains a separate economic history department and stand-alone undergraduate and graduate programme in economic history.
Cambridge Cambridge ( ) is a university city and the county town In the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' ...
,
Glasgow Glasgow ( ; sco, Glesga; gd, Glaschu) is the most populous city A city is a large .Goodall, B. (1987) ''The Penguin Dictionary of Human Geography''. London: Penguin.Kuper, A. and Kuper, J., eds (1996) ''The Social Science Encyclopedia'' ...

Glasgow
, LSE,
Oxford Oxford () is a city in England. It is the county town In the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' u ...
, , and
Warwick Warwick ( ) is a market town and the county town In the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' use Br ...
together train the vast majority of economic historians coming through the British higher education system today, but do so as part of economics or history degrees. Meanwhile, there have never been specialist economic history graduate programs at universities anywhere in the US. However, economic history remains a special field component of leading economics PhD programs, including
University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public In public relations Public relations (PR) is the practice of managing and disseminating information from an individual or an organization ...

University of California, Berkeley
,
Harvard University Harvard University is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an absence of nearly t ...

Harvard University
,
Northwestern University Northwestern University is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an absence of nearl ...

Northwestern University
,
Princeton University Princeton University is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an absence of nearly tw ...

Princeton University
, the
University of Chicago The University of Chicago (UChicago) is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an abse ...
and
Yale University Yale University is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an absence of nearly two ...
. Despite the pessimistic view on the state of the discipline espoused by many of its practitioners, economic history remains an active field of social scientific inquiry. Indeed, it has seen something of a resurgence in interest since 2000, perhaps driven by research conducted at universities in continental Europe rather than the UK and the US. The overall number of economic historians in the world is estimated at 10400, with Japan and China as well as the U.K and the U.S. ranking highest in numbers. Some less developed countries, however, are not sufficiently integrated in the world economic history community, among others, Senegal, Brazil and Vietnam. Part of the growth in economic history is driven by the continued interest in big policy-relevant questions on the history of economic growth and development.
MIT Massachusetts Institute of Technology (MIT) is a private land-grant research university A research university is a university A university ( la, universitas, 'a whole') is an educational institution, institution of higher education, hi ...

MIT
economist An economist is a professional and practitioner in the social science Social science is the branch A branch ( or , ) or tree branch (sometimes referred to in botany Botany, also called , plant biology or phytology, is the s ...

economist
Peter Temin noted that development economics is intricately connected with economic history, as it explores the growth of economies with different technologies, innovations, and institutions. Studying economic growth has been popular for years among economists and historians who have sought to understand why some economies have grown faster than others. Some of the early texts in the field include
Walt Whitman Rostow Walt Whitman Rostow (October 7, 1916 – February 13, 2003) was an American economist, professor and political theorist who served as National Security Advisor (United States), National Security Advisor to President of the United States Lyndon B. ...
's '' The Stages of Economic Growth: A Non-Communist Manifesto'' (1971) which described how advanced economies grow after overcoming certain hurdles and advancing to the next stage in development. Another economic historian,
Alexander Gerschenkron Alexander Gerschenkron (russian: Александр Гершенкрон; 1 October 1904 – 26 October 1978) was a Russian Empire, Russian-born United States, American economic historian and professor at Harvard University, trained in the Austrian ...
, complicated this theory with works on how economies develop in non-Western countries, as discussed in ''Economic Backwardness in Historical Perspective: A Book of Essays'' (1962). A more recent work is
Daron Acemoglu Kamer Daron Acemoğlu (; born September 3, 1967) is a Turkish-born Armenian Americans, Armenian-American economist who has taught at the Massachusetts Institute of Technology (MIT) since 1993. He is currently the James Rhyne Killian, Elizabeth an ...

Daron Acemoglu
and James A. Robinson's '' Why Nations Fail: The Origins of Power, Prosperity, and Poverty'' (2012) which pioneered a new field of persistence studies, emphasizing the path-dependent stages of growth. Other notable books on the topic include
Kenneth Pomeranz Kenneth Pomeranz, Fellow of the British Academy, FBA (born November 4, 1958) is University Professor of History at the University of Chicago. He received his B.A. from Cornell University in 1980, where he was a Telluride House, Telluride Scholar, ...
's '' The Great Divergence: China, Europe, and the Making of the Modern World Economy'' (2000) and David S. Landes's '' The Wealth and Poverty of Nations: Why Some are So Rich and Some So Poor'' (1998). In recent decades, and notably since the global financial crisis of 2007–2008, scholars have recently become more interested in a field which may be called ''new'' new economic history. Scholars have tended to move away from narrowly quantitative studies toward institutional,
social Social organisms, including humans, live collectively in interacting populations. This interaction is considered social whether they are aware of it or not, and whether the exchange is voluntary/involuntary. Etymology The word "Social" derives fr ...
, and
cultural history Cultural history combines the approaches of anthropology Anthropology is the scientific study of human Humans (''Homo sapiens'') are the most abundant and widespread species In biology Biology is the natural science that st ...
affecting the evolution of economies.For example:
   • Gregory Clark (2006), ''A Farewell to Alms: A Brief Economic History of the World''
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   • E. Aerts and H. Van der Wee, 2002. "Economic History," ''
International Encyclopedia of the Social & Behavioral Sciences The ''International Encyclopedia of the Social & Behavioral Sciences'', originally edited by Neil J. Smelser and Paul B. Baltes, is a 26-volume work published by Elsevier. It has some 4,000 signed articles (commissioned by around 50 subject editors ...
'' pp. 4102–410
Abstract
The focus of these studies is frequently on "persistence", as past events are linked to present outcomes.
Columbia University Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a Private university, private Ivy League research university in New York City. Established in 1754 as King's College on the grounds of ...

Columbia University
economist An economist is a professional and practitioner in the social science Social science is the branch A branch ( or , ) or tree branch (sometimes referred to in botany Botany, also called , plant biology or phytology, is the s ...

economist
Charles Calomiris argued that this new field showed 'how historical (path-dependent) processes governed changes in institutions and markets.' However, this trend has been criticized, most forcefully by Francesco Boldizzoni, as a form of economic imperialism "extending the neoclassical explanatory model to the realm of social relations." Conversely, economists in other specializations have started to write a new kind of economic history which makes use of historical data to understand the present day.For example: Carmen M. Reinhart and Kenneth S. Rogoff (2009), ''This Time Is Different: Eight Centuries of Financial Folly''. Princeton
Description
ch. 1 ("Varieties of Crises and their Dates," pp
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and chapter-previe
links.
/ref> A major development in this genre was the publication of Thomas Piketty's ''
Capital in the Twenty-First Century ''Capital in the Twenty-First Century'' is the ''magnum opus 's ''The Creation of Adam ''The Creation of Adam'' () is a fresco Fresco (plural ''frescos'' or ''frescoes'') is a technique of Mural, mural painting executed upon freshly laid (" ...
'' (2013). The book described the rise in
wealth Wealth is the abundance of valuable financial asset A financial asset is a non-physical asset whose value is derived from a contractual claim, such as deposit (finance), bank deposits, bond (finance), bonds, and participations in companies' sh ...
and
income inequality There are wide varieties of economic inequality, most notably measured using the distribution of incomeIn economics Economics () is the social science that studies how people interact with value; in particular, the Production (econom ...
since the 18th century, arguing that large concentrations of wealth lead to social and economic instability. Piketty also advocated a system of global progressive wealth taxes to correct rising inequality. The book was selected as a ''New York Times'' best seller and received numerous awards. The book was well received by some of the world's major economists, including
Paul Krugman Paul Robin Krugman ( ; born February 28, 1953) is an American economist An economist is a professional and practitioner in the social science Social science is the branch The branches and leaves of a tree. A branch ( or , ) or ...
,
Robert Solow Robert Merton Solow, GCIH (; born August 23, 1924) is an American economist An economist is a professional and practitioner in the social science Social science is the branch The branches and leaves of a tree. A branch ( or , ) ...
, and
Ben Bernanke Ben Shalom Bernanke ( ; born December 13, 1953) is an American economist at the Brookings Institution The Brookings Institution, often referred to simply as Brookings, is an American American(s) may refer to: * American, something of, from, ...

Ben Bernanke
. Books in response to Piketty's book include ''After Piketty: The Agenda for Economics and Inequality'', by Heather Boushey, J. Bradford DeLong, and Marshall Steinbaum (eds.) (2017), ''Pocket Piketty'' by Jesper Roine (2017), and ''Anti-Piketty: Capital for the 21st Century'', by Jean-Philippe Delsol, Nicolas Lecaussin, Emmanuel Martin (2017). One economist argued that Piketty's book was "Nobel-Prize worthy" and noted that it had changed the global discussion on how economic historians study inequality. It has also sparked new conversations in the disciplines of public policy. In addition to the mainstream in economic history, there is a parallel development in the field influenced by
Karl Marx Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher A philosopher is someone who practices philosophy Philosophy (from , ) is the study of general and fundamental questions, such as those about reason, M ...

Karl Marx
and
Marxian economics Marxian economics, or the Marxian school of economics, is a school of political economic thought. Its foundations can be traced back to . However, unlike , Marxian economists tend to accept the concept of as a reasonable object of inquiry in i ...
. Marx used historical analysis to interpret the role of class and class as a central issue in history. He debated with the "classical" economists (a term he coined), including
Adam Smith Adam Smith ( 1723 – 17 July 1790) was a Scottish economist, philosopher as well as a moral philosopher Ethics or moral philosophy is a branch of philosophy that "involves systematizing, defending, and recommending concepts of right and ...

Adam Smith
and
David Ricardo David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, one of the most influential of the classical economists along with Thomas Malthus Thomas Robert Malthus (; 13/14 February 1766 – 23 December 1834) w ...

David Ricardo
. In turn, Marx's legacy in economic history has been to critique the findings of neoclassical economists. Marxist analysis also confronts
economic determinism Economic determinism is a socioeconomic theory that economic An economy (; ) is an area of the production Production may be: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the ...
, the theory that economic relationships are the foundation of political and societal institutions. Marx abstracted the idea of a "capitalist mode of production" as a way of identifying the transition from
feudalism Feudalism, also known as the feudal system, was the combination of the legal, economic, military, and cultural customs that flourished in Medieval Europe In the history of Europe The history of Europe concerns itself with the disc ...
to
capitalism Capitalism is an economic system An economic system, or economic order, is a system A system is a group of interacting Interaction is a kind of action that occurs as two or more objects have an effect upon one another. The idea o ...

capitalism
. This has influenced some scholars, such as
Maurice Dobb Maurice Herbert Dobb (24 July 1900 – 17 August 1976) was an English economist at Cambridge University The University of Cambridge is a collegiate university, collegiate research university in Cambridge, Cambridge, United Kingdom. Founded in ...
, to argue that feudalism declined because of peasants' struggles for freedom and the growing inefficiency of feudalism as a system of production. In turn, in what was later coined the Brenner debate,
Paul Sweezy Paul Marlor Sweezy (April 10, 1910 – February 27, 2004) was a Marxist economist, political activist, publisher, and founding editor of the long-running magazine ''Monthly Review''. He is best remembered for his contributions to economic theory ...
, a Marxian economist, challenged Dob''s definition of feudalism and its focus only on
western Europe Western Europe is the western region of Europe Europe is a continent A continent is any of several large landmasses. Generally identified by convention (norm), convention rather than any strict criteria, up to seven geographical r ...

western Europe
.''


History of capitalism

A new field calling itself the "history of capitalism" has emerged in US history departments since about the year 2000. It includes many topics traditionally associated with the field of economic history, such as insurance, banking and regulation, the political dimension of business, and the impact of capitalism on the middle classes, the poor and women and minorities. The field has particularly focused on the contribution of slavery to the rise of the US economy in the nineteenth century. The field utilizes the existing research of
business history Business history is a historiographical field which examines the history of firms, business methods, government regulation Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of ...
, but has sought to make it more relevant to the concerns of history departments in the United States, including by having limited or no discussion of individual business enterprises. Historians of capitalism have countered these critiques, citing the issues with economic history. As
University of Chicago The University of Chicago (UChicago) is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an abse ...
professor of history Jonathan Levy states, "modern economic history began with industrialization and urbanization, and, even then, environmental considerations were subsidiary, if not nonexistent." Scholars have critiqued the history of capitalism because it does not focus on systems of production, circulation, and distribution. Some have criticized its lack of social scientific methods and its ideological biases. As a result, a new academic journal, '' Capitalism: A Journal of History and Economics'', was founded at the
University of Pennsylvania The University of Pennsylvania (Penn or UPenn) is a in , Pennsylvania. The university, established as the College of Philadelphia in 1740, is one of the nine chartered prior to the . , Penn's founder and first president, advocated an edu ...

University of Pennsylvania
under the direction of Marc Flandreau (
University of Pennsylvania The University of Pennsylvania (Penn or UPenn) is a in , Pennsylvania. The university, established as the College of Philadelphia in 1740, is one of the nine chartered prior to the . , Penn's founder and first president, advocated an edu ...

University of Pennsylvania
), Julia Ott ( The New School, New York) and Francesca Trivellato (
Institute for Advanced Study, Princeton The Institute for Advanced Study (IAS), located in Princeton, New Jersey, in the United States, is an independent postdoctoral research center for theoretical research and intellectual inquiry. It has served as the academic home of international ...

Institute for Advanced Study, Princeton
) to widen the scope of the field. The journal's goal is to bring together "historians and social scientists interested in the material and intellectual aspects of modern economic life."


Academic journals and societies

The first journal specializing in the field of economic history was ''
The Economic History Review ''The Economic History Review'' is a peer-reviewed Peer review is the evaluation of work by one or more people with similar competencies as the producers of the work ( peers). It functions as a form of self-regulation by qualified members of ...
'', founded in 1927, as the main publication of the
Economic History Society The Economic History Society (EHS) is a learned society A learned society (; also known as a learned academy, scholarly society, or academic association) is an organization that exists to promote an discipline (academia), academic discipline, ...
. The first journal featured a publication by Professor Sir William Ashley, the first Professor of Economic History in the English-speaking world, who described the emerging field of economic history. The discipline existed alongside long-standing fields such as
political history Political history is the narrative and survey of political events, ideas, movements, organs of government, voters, parties and leaders. It is interrelated to other fields of history, especially diplomatic history, as well as constitutional history ...
,
religious history The history of religion refers to the written record of human religious Religion is a social system, social-cultural system of designated religious behaviour, behaviors and practices, morality, morals, beliefs, worldviews, religious text, ...
, and
military history Military history is a humanities Humanities are List of academic disciplines, academic disciplines that study aspects of human society and culture. In the Renaissance, the term contrasted with Divinity (academic discipline), divinity and r ...
as one that focused on humans' interactions with 'visible happenings'. He continued, ' conomic historyprimarily and unless expressly extended, the history of actual human practice with respect to the material basis of life. The visible happenings with regard-to use the old formula-to "the production, distribution, and consumption of wealth" form our wide enough field'. Later, the
Economic History Association The Economic History Association (EHA) was founded in 1940 to "encourage and promote teaching, research, and publication on every phase of economic history Economic history is the academic study of economies or economic events of the past. Resea ...
established another academic journal, ''
The Journal of Economic History ''The Journal of Economic History'' is an academic journal An academic or scholarly journal is a periodical publication in which Scholarly method, scholarship relating to a particular list of academic disciplines, academic discipline is published. ...
'', in 1941 as a way of expanding the discipline in the
United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...

United States
. The first president of the Economic History Association, Edwin F. Gay, described the aim of economic history was to provide new perspectives in the economics and history disciplines: 'An adequate equipment with two skills, that of the historian and the economist, is not easily acquired, but experience shows that it is both necessary and possible'. Other related academic journals have broadened the lens with which economic history is studied. These interdisciplinary journals include the ''
Business History Review The ''Business History Review'' is a scholarly quarterly published by Cambridge University Press Cambridge University Press (CUP) is the publishing business of the University of Cambridge. Granted letters patent by Henry VIII of England, King ...
'', ''
European Review of Economic History{{Infobox journal , cover = European_Review_of_Economic_History.jpg , editor = Jaime Reis, Hans-Joachim Voth, Cormac Ó Gráda , discipline = Economic History Economic history is the academic study of economies or economic eve ...
'', ''
Enterprise and Society ''Enterprise & Society'' is a Peer review, peer-reviewed academic journal on business history published by Cambridge University Press for the Business History Conference, which holds its copyright. Abstracting and indexing According to the ''Jour ...
'', and ''
Financial History Review ''Financial History Review'' is a peer-reviewed academic journal An academic or scholarly journal is a periodical publication in which Scholarly method, scholarship relating to a particular list of academic disciplines, academic discipline is pub ...
''. The ''International Economic History Association'', an association of close to 50 member organizations, recognizes some of the major academic organizations dedicated to study of economic history: the Business History Conference,
Economic History Association The Economic History Association (EHA) was founded in 1940 to "encourage and promote teaching, research, and publication on every phase of economic history Economic history is the academic study of economies or economic events of the past. Resea ...
,
Economic History Society The Economic History Society (EHS) is a learned society A learned society (; also known as a learned academy, scholarly society, or academic association) is an organization that exists to promote an discipline (academia), academic discipline, ...
, European Association of Business Historians, and the
International Social History AssociationThe International Social History Association (ISHA) is a learned society based in Amsterdam. It was established in 2005 to promote research in social history and facilitate collaboration among social historians working in diverse academic cultures. I ...
.


Nobel Memorial Prize-winning economic historians

*
Simon Kuznets Simon Smith Kuznets (; rus, Семён Абра́мович Кузне́ц, p=sʲɪˈmʲɵn ɐˈbraməvʲɪtɕ kʊzʲˈnʲɛts; April 30, 1901 – July 8, 1985) was an American American(s) may refer to: * American, something of, from, or relat ...
won the
Nobel Memorial Prize in Economic Sciences The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
("the Nobel Memorial Prize") in 1971 "for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development". *
John Hicks Sir John Hicks (8 April 1904 – 20 May 1989) was a British economist An economist is a practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from ...

John Hicks
, whose early writing was on the field of economic history, won the Nobel Memorial Prize in 1972 his contributions to
general equilibrium theory In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an ov ...
and welfare theory. * Arthur Lewis won the Nobel Memorial Prize in 1979 for his contributions in the field of
economic development In the economic An economy (; ) is an area of the production Production may be: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act o ...
through historical context. *
Milton Friedman Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist An economist is a professional and practitioner in the social science Social science is the branch The branches and leaves of a tree. A branch ( ...

Milton Friedman
won the Nobel Memorial Prize in 1976 for "his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy". *
Robert Fogel Robert William Fogel (; July 1, 1926 – June 11, 2013) was an American economic historian and scientist, and winner (with Douglass North Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his wor ...
and
Douglass North Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. He was the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Economic Sciences. In the word ...

Douglass North
won the Nobel Memorial Prize in 1993 for "having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change". *
Merton Miller Merton Howard Miller (May 16, 1923 – June 3, 2000) was an American economist, and the co-author of the Modigliani–Miller theoremThe Modigliani–Miller theorem (of Franco Modigliani, Merton Miller) is an influential element of economic theor ...
, who started his academic career teaching economic history at the LSE, won the Nobel Memorial Prize in 1990 with
Harry Markowitz Harry Max Markowitz (born August 24, 1927) is an American economist who received the 1989 John von Neumann Theory Prize The John von Neumann Theory Prize of the Institute for Operations Research and the Management Sciences (INFORMS) is awarded ...
and William F. Sharpe.


Notable works of economic history


Foundational works

*
Milton Friedman Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist An economist is a professional and practitioner in the social science Social science is the branch The branches and leaves of a tree. A branch ( ...

Milton Friedman
and
Anna Schwartz Anna Jacobson Schwartz (pronounced ; November 11, 1915 – June 21, 2012) was an American economist An economist is a professional and practitioner in the social science Social science is the branch The branches and leaves of a tr ...
, '' A Monetary History of the United States, 1867–1960'' (1963) *
Friedrich Hayek Friedrich August von Hayek ( , ; 8 May 189923 March 1992), often referred to by his initials F. A. Hayek, was an Austrian-British economist, and philosopher who is best known for his defence of classical liberalism. Hayek shared the 1974 Nob ...
, ''
The Road to Serfdom ''The Road to Serfdom'' (German German(s) may refer to: Common uses * of or related to Germany * Germans, Germanic ethnic group, citizens of Germany or people of German ancestry * For citizens of Germany, see also German nationality law * G ...
'' (1944) *
Karl Marx Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher A philosopher is someone who practices philosophy Philosophy (from , ) is the study of general and fundamental questions, such as those about reason, M ...

Karl Marx
, '' Capital: A Critique of Political Economy'' (1867) *
Karl Polanyi Karl Paul Polanyi (; hu, Polányi Károly ; October 25, 1886 – April 23, 1964) was an Austro-Hungarian economic historian, economic anthropologist, economic sociology, economic sociologist, political economist, historical sociology, historic ...
, '' The Great Transformation: Origins of Our Time'' (1944) *
David Ricardo David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, one of the most influential of the classical economists along with Thomas Malthus Thomas Robert Malthus (; 13/14 February 1766 – 23 December 1834) w ...

David Ricardo
, ''
On the Principles of Political Economy and Taxation ''On the Principles of Political Economy and Taxation'' (19 April 1817) is a book by David Ricardo on economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), pro ...
'' (1817) *
Adam Smith Adam Smith ( 1723 – 17 July 1790) was a Scottish economist, philosopher as well as a moral philosopher Ethics or moral philosophy is a branch of philosophy that "involves systematizing, defending, and recommending concepts of right and ...

Adam Smith
, ''
An Inquiry into the Nature and Causes of the Wealth of Nations ''An Inquiry into the Nature and Causes of the Wealth of Nations'', generally referred to by its shortened title ''The Wealth of Nations'', is the ''Masterpiece, magnum opus'' of the Scottish people, Scottish economist and moral philosopher Ada ...
'' (1776)


General

*
Robert C. Allen Robert Carson Allen (born 10 January 1947 in Salem, Massachusetts) is Professor of Economic History at New York University Abu Dhabi. His research interests are economic history Economic history is the academic study of economies or economic ev ...
, ''Global Economic History: A Very Short Introduction'' (2011) * Gregory Clark, ''A Farewell to Alms: A Brief Economic History of the World'' (2007) *
Kevin O'Rourke Kevin Hjortshøj O'Rourke, (born 25 March 1963) is an Irish economist and historian, who specialises in economic history Economic history is the academic study of economies or economic events of the past. Research is conducted using a combin ...
and
Ronald Findlay Ronald Edsel Findlay (born 1935) is the Professor Professor (commonly abbreviated as Prof.) is an Academy, academic rank at university, universities and other post-secondary education and research institutions in most countries. Literally, ' ...
, ''Power and Plenty: Trade, War, and the World Economy in the Second Millennium'' (2007) *
Robert Heilbroner Robert L. Heilbroner (March 24, 1919 – January 4, 2005) was an American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the United States The United States of Americ ...
, ''The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers'' (1953)


Ancient economies

*
Moses Finley Sir Moses Israel Finley, FBAFBA may refer to: * Federation of British Artists * Federal Bar Association * Fellow of the British Academy * Filsports Basketball Association * First Baptist Academy (Houston, Texas), United States * First Baptist A ...
, '' The Ancient Economy'' (1973) *
Walter Scheidel Walter Scheidel (born 9 July 1966) is an Austria Austria (, ; german: Österreich ), officially the Republic of Austria (german: Republik Österreich, links=no, ), is a landlocked Eastern Alps, East Alpine country in the southern p ...
, ''The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century'' (2017) *
Peter Temin Peter Temin (; born 17 December 1937) is an economist and economic historian, currently Gray Professor Emeritus of Economics, MIT and former head of the Economics Department. Education Temin graduated from Swarthmore College in 1959 before earning ...
, ''The Roman Market Economy'' (2012)


Economic growth and development

*
Daron Acemoglu Kamer Daron Acemoğlu (; born September 3, 1967) is a Turkish-born Armenian Americans, Armenian-American economist who has taught at the Massachusetts Institute of Technology (MIT) since 1993. He is currently the James Rhyne Killian, Elizabeth an ...

Daron Acemoglu
and James A. Robinson, '' Why Nations Fail: The Origins of Power, Prosperity, and Poverty'' (2012) *
Alexander Gerschenkron Alexander Gerschenkron (russian: Александр Гершенкрон; 1 October 1904 – 26 October 1978) was a Russian Empire, Russian-born United States, American economic historian and professor at Harvard University, trained in the Austrian ...
, ''Economic Backwardness in Historical Perspective: A Book of Essays'' (1962) * Robert J. Gordon, ''The Rise and Fall of American Growth: The U.S. Standard of Living Since the Civil War'' (2016) * David S. Landes, '' The Wealth and Poverty of Nations: Why Some are So Rich and Some So Poor'' (1998) *
Joel Mokyr Joel Mokyr (born 26 July 1946) is a Netherlands The Netherlands ( nl, Nederland ), informally referred to as Holland, is a country primarily located in Western Europe and partly in the Dutch Caribbean, Caribbean. It is the largest of four Kingd ...

Joel Mokyr
, ''The Lever of Riches: Technological Creativity and Economic Progress'' (1990) *
Kenneth Pomeranz Kenneth Pomeranz, Fellow of the British Academy, FBA (born November 4, 1958) is University Professor of History at the University of Chicago. He received his B.A. from Cornell University in 1980, where he was a Telluride House, Telluride Scholar, ...
, '' The Great Divergence: China, Europe, and the Making of the Modern World Economy'' (2000) *
Walt Whitman Rostow Walt Whitman Rostow (October 7, 1916 – February 13, 2003) was an American economist, professor and political theorist who served as National Security Advisor (United States), National Security Advisor to President of the United States Lyndon B. ...
, '' The Stages of Economic Growth: A Non-Communist Manifesto'' (1971) *
Jeffrey Sachs Jeffrey David Sachs (; born November 5, 1954) is an American economist, academic, public policy analyst and former director of The Earth Institute at Columbia University, where he holds the title of University Professor (Columbia), University Profe ...
, '' The End of Poverty: Economic Possibilities for Our Time'' (2005) *
Amartya Sen Amartya Kumar Sen (; born 3 November 1933) is an Indian economist and philosopher, who since 1972 has taught and worked in the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom ( ...

Amartya Sen
, '' Development as Freedom'' (1999) *
William Easterly William Russell Easterly (born September 7, 1957) is an American economist, specializing in economic development. He is a Professor of Economics at New York University, joint with Africa House, and Co-Director of NYU’s Development Research Instit ...
,
The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good
' (2006) * Abhijit V. Banerjee and
Esther Duflo Esther Duflo, FBAFBA may refer to: * Federation of British Artists * Federal Bar Association * Fellow of the British Academy * Filsports Basketball Association * First Baptist Academy (Houston, Texas), United States * First Baptist Academy of D ...
, ''
Poor Economics ''Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty'' (2011) is a non-fiction book by Abhijit Banerjee, Abhijit V. Banerjee and Esther Duflo, both professors of Economics at Massachusetts Institute of Technology (MIT). The boo ...
'' (2011)


History of money

* Christine Desan, ''Making Money: Coin, Currency, and the Coming of Capitalism'' (2014) * William N. Goetzmann, ''Money Changes Everything: How Finance Made Civilization Possible'' (2016) *
David Graeber David Rolfe Graeber (; February 12, 1961September 2, 2020) was an American anthropologist An anthropologist is a person engaged in the practice of anthropology Anthropology is the of ity, concerned with , , , and , in both the present and ...

David Graeber
, '' Debt: The First 5000 Years'' (2011)


Business history

*
David Cannadine Sir David Cannadine (born 1950) is a British author and historian who specialises in modern history Human history, or world history, is the narrative of Human, humanity's past. It is understood through archaeology, anthropology, gene ...
, '' Mellon: An American Life'' (2006) *
Alfred D. Chandler Jr. Alfred DuPont Chandler Jr. (September 15, 1918 – May 9, 2007) was a professor of business history at Harvard Business School Harvard Business School (HBS) is the graduate school, graduate business school of Harvard University in Boston, Massach ...
, '' The Visible Hand: The Managerial Revolution in American Business'' (1977) *
Ron Chernow Ronald Chernow (; born March 3, 1949) is an American writer, journalist, popular historian Popular history is a broad genre Genre () is any form or type of communication in any mode (written, spoken, digital, artistic, etc.) with socially-agre ...
, '' The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance'' (1990) *
Ron Chernow Ronald Chernow (; born March 3, 1949) is an American writer, journalist, popular historian Popular history is a broad genre Genre () is any form or type of communication in any mode (written, spoken, digital, artistic, etc.) with socially-agre ...
, ''Titan: The Life of John D. Rockefeller, Sr.'' (1998) * William D. Cohan, '' Money and Power: How Goldman Sachs Came to Rule the World'' * Naomi Lamoreaux, ''The Great Merger Movement in American Business, 1895–1904'' (1985) *
David Nasaw David Nasaw (born July 18, 1945 in Cortland, New York Cortland is a city A city is a large human settlement.Goodall, B. (1987) ''The Penguin Dictionary of Human Geography''. London: Penguin.Kuper, A. and Kuper, J., eds (1996) ''The Social Scien ...
, ''Andrew Carnegie'' (2006) *
Jean StrouseJean Strouse (born 1945) is an American biographer, cultural administrator, and critic A critic is a professional who communicates an assessment and an opinion of various forms of creative works such as Art criticism, art, Literary criticism, ...
, ''Morgan: American Financier'' (1999)


Financial history

*
Liaquat Ahamed Liaquat Ahamed (born 14 November 1952 in Kenya) is an American author. Life and work Liaquat Ahamed was born in Kenya, where his grandfather had emigrated to from Gujarat by way of Zanzibar in the late 19th century.Lords of Finance: The Bankers Who Broke the World'' (2009) *
Mark Blyth Mark McGann Blyth (born 29 September 1967) is a Scotland, Scottish-United States, American political scientist. He is currently the William R. Rhodes Professor of International economics, International Economics and Professor of International a ...
, '' Austerity: The History of a Dangerous Idea'' (2013) * Charles W. Calomiris and
Stephen H. Haber Stephen H. Haber (born July 12, 1957) is a professor of political science and history known for his work on the political institutions and economic policies that promote innovation and improvements in living standards. Haber is a professor in the S ...
, ''Fragile by Design: The Political Origins of Banking Crises and Scarce Credit'' (2014) *
Barry Eichengreen Barry Julian Eichengreen (born 1952) is an American economist An economist is a professional and practitioner in the social science Social science is the branch A branch ( or , ) or tree branch (sometimes referred to in botany ...
, ''Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System'' (2010) *
Barry Eichengreen Barry Julian Eichengreen (born 1952) is an American economist An economist is a professional and practitioner in the social science Social science is the branch A branch ( or , ) or tree branch (sometimes referred to in botany ...
, ''Globalizing Capital: A History of the International Monetary System'' (1996) *
Niall Ferguson Niall Campbell Ferguson (; born 18 April 1964)Biography
Niall Ferguson
is a ...
, '' The Ascent of Money: A Financial History of the World'' (2008) * Harold James, '' International Monetary Cooperation Since Bretton Woods'' (1996) * Carmen M. Reinhart and Kenneth S. Rogoff, ''This Time Is Different: Eight Centuries of Financial Folly'' (2009) *
Benn Steil Benn Steil is an American economist and writer. He was educated at Nuffield College, Oxford and at the Wharton School of the University of Pennsylvania. Steil is the senior fellow and director of international economics at the Council on Foreign R ...
, '' The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order'' (2013) *
Adam Tooze Adam J. Tooze (born 5 July 1967) is a British historian who is a Professor at Columbia University Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a Private university, private ...
, '' The Wages of Destruction: The Making and Breaking of the Nazi Economy'' (2006)


Globalization and inequality

* Sven Beckert, ''Empire of Cotton: A Global History'' (2014) * William J. Bernstein, '' A Splendid Exchange: How Trade Shaped the World from Prehistory to Today'' (2008) *
Niall Ferguson Niall Campbell Ferguson (; born 18 April 1964)Biography
Niall Ferguson
is a ...
, ''The Cash Nexus: Money and Power in the Modern World, 1700-2000'' (2001) *
Robert Fogel Robert William Fogel (; July 1, 1926 – June 11, 2013) was an American economic historian and scientist, and winner (with Douglass North Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his wor ...
and Stanley L. Engerman, '' Time on the Cross: The Economics of American Negro Slavery'' (1974) *
Claudia Goldin Claudia Goldin (born May 14, 1946) is the Henry Lee Professor of Economics at Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts. Established in 1636 and named f ...
, ''Understanding the Gender Gap: An Economic History of American Women'' (1990) * Harold James, ''The End of Globalization: Lessons from the Great Depression'' (2009) *
Thomas Piketty Thomas Piketty (; born 7 May 1971) is a French economist An economist is a professional and practitioner in the social science Social science is the Branches of science, branch of science devoted to the study of society, societies an ...

Thomas Piketty
, ''
Capital in the Twenty-First Century ''Capital in the Twenty-First Century'' is the ''magnum opus 's ''The Creation of Adam ''The Creation of Adam'' () is a fresco Fresco (plural ''frescos'' or ''frescoes'') is a technique of Mural, mural painting executed upon freshly laid (" ...
'' (2013) *
Thomas Piketty Thomas Piketty (; born 7 May 1971) is a French economist An economist is a professional and practitioner in the social science Social science is the Branches of science, branch of science devoted to the study of society, societies an ...

Thomas Piketty
, ''The Economics of Inequality'' (2015) *
Thomas Piketty Thomas Piketty (; born 7 May 1971) is a French economist An economist is a professional and practitioner in the social science Social science is the Branches of science, branch of science devoted to the study of society, societies an ...

Thomas Piketty
, '''' (2020) *
Emmanuel Saez Emmanuel Saez (born November 26, 1972) is a French, naturalized American economist An economist is a practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and co ...
and
Gabriel Zucman Gabriel Zucman (born 30 October 1986) is a French economist An economist is a practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics ...
, ''The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay'' (2019) * Jeffrey G. Williamson and
Kevin O'Rourke Kevin Hjortshøj O'Rourke, (born 25 March 1963) is an Irish economist and historian, who specialises in economic history Economic history is the academic study of economies or economic events of the past. Research is conducted using a combin ...
, ''Globalization and History: The Evolution of a Nineteenth-century Atlantic Economy'' (1999) *
Gabriel Zucman Gabriel Zucman (born 30 October 1986) is a French economist An economist is a practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics ...
, '' The Hidden Wealth of Nations: The Scourge of Tax Havens'' (2015)


Notable economic historians

* Moses Abramovitz * Jeremy Adelman * Robert Allen *
T. S. Ashton Thomas Southcliffe Ashton (1889–1968) was an English economic historian. He was professor of economic history at the London School of Economics at the University of London from 1944 until 1954, and Emeritus Professor until his death in 1968. H ...
* Correlli Barnett * Jörg Baten * Maxine Berg * Jean-François Bergier *
Ben Bernanke Ben Shalom Bernanke ( ; born December 13, 1953) is an American economist at the Brookings Institution The Brookings Institution, often referred to simply as Brookings, is an American American(s) may refer to: * American, something of, from, ...

Ben Bernanke
* Francesco Boldizzoni * Leah Boustan *
Fernand Braudel Fernand Braudel (; 24 August 1902 – 27 November 1985) was a French historian and a leader of the Annales School. His scholarship focused on three main projects: ''The Mediterranean'' (1923–49, then 1949–66), ''Civilization and Capitalism ...
*
Rondo Cameron Rondo Emmett Cameron (February 20, 1925 – January 1, 2001) was an American professor of economic history Economic history is the academic study of economies An economy (from Greek Greek may refer to: Greece Anything of, from, or related ...
*
Sydney Checkland Sydney George Checkland FRSE (9 October 1916 – 22 March 1986) was a British people, British-Canadians, Canadian economic historian. Life Born in Ottawa, Ontario, Checkland worked at the Bank of Nova Scotia, then the Ottawa Sanitary Laundry Com ...
* Carlo M. Cipolla * John Clapham (economic historian), John Clapham * Gregory Clark * Thomas C. Cochran (historian), Thomas C. Cochran * Nicholas Crafts * Louis Cullen * Peter Davies (economic historian) * Brad DeLong * Melissa Dell *
Barry Eichengreen Barry Julian Eichengreen (born 1952) is an American economist An economist is a professional and practitioner in the social science Social science is the branch A branch ( or , ) or tree branch (sometimes referred to in botany ...
* Friedrich Engels * Stanley Engerman
Giovanni Federico
* Charles Feinstein *
Niall Ferguson Niall Campbell Ferguson (; born 18 April 1964)Biography
Niall Ferguson
is a ...
*
Ronald Findlay Ronald Edsel Findlay (born 1935) is the Professor Professor (commonly abbreviated as Prof.) is an Academy, academic rank at university, universities and other post-secondary education and research institutions in most countries. Literally, ' ...
* Moses Israel Finley *
Irving Fisher Irving Fisher (February 27, 1867 – April 29, 1947) was an American economist An economist is a professional and practitioner in the social science Social science is the branch The branches and leaves of a tree. A branch ( or , ...

Irving Fisher
* Brian Fitzpatrick (Australian author), Brian Fitzpatrick * Roderick Floud *
Robert Fogel Robert William Fogel (; July 1, 1926 – June 11, 2013) was an American economic historian and scientist, and winner (with Douglass North Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his wor ...
*
Milton Friedman Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist An economist is a professional and practitioner in the social science Social science is the branch The branches and leaves of a tree. A branch ( ...

Milton Friedman
* Celso Furtado *
Alexander Gerschenkron Alexander Gerschenkron (russian: Александр Гершенкрон; 1 October 1904 – 26 October 1978) was a Russian Empire, Russian-born United States, American economic historian and professor at Harvard University, trained in the Austrian ...
*
Claudia Goldin Claudia Goldin (born May 14, 1946) is the Henry Lee Professor of Economics at Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts. Established in 1636 and named f ...
* Jack Goldstone * John Habakkuk * Earl J. Hamilton * Eli Heckscher * Eric Hobsbawm * Susan Howson (economist), Susan Howson * Leo Huberman * Jane Humphries * Harold James * Geoffrey Jones (academic), Geoffrey Jones * Ibn Khaldun * Charles P. Kindleberger * John Komlos * Nikolai Kondratiev *
Simon Kuznets Simon Smith Kuznets (; rus, Семён Абра́мович Кузне́ц, p=sʲɪˈmʲɵn ɐˈbraməvʲɪtɕ kʊzʲˈnʲɛts; April 30, 1901 – July 8, 1985) was an American American(s) may refer to: * American, something of, from, or relat ...
* Emmanuel Le Roy Ladurie * Naomi Lamoreaux * David Landes * Tim Leunig * Friedrich List * Roberto Sabatino Lopez, Robert Sabatino Lopez * Angus Maddison *
Karl Marx Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher A philosopher is someone who practices philosophy Philosophy (from , ) is the study of general and fundamental questions, such as those about reason, M ...

Karl Marx
* Peter Mathias * Ellen McArthur * Deirdre McCloskey * Jacob Metzer, Jacob (Kobi) Metzer *
Joel Mokyr Joel Mokyr (born 26 July 1946) is a Netherlands The Netherlands ( nl, Nederland ), informally referred to as Holland, is a country primarily located in Western Europe and partly in the Dutch Caribbean, Caribbean. It is the largest of four Kingd ...

Joel Mokyr
*
Douglass North Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. He was the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Economic Sciences. In the word ...

Douglass North
* Nathan Nunn * Avner Offer * Cormac Ó Gráda * Patrick K. O'Brien *
Thomas Piketty Thomas Piketty (; born 7 May 1971) is a French economist An economist is a professional and practitioner in the social science Social science is the Branches of science, branch of science devoted to the study of society, societies an ...

Thomas Piketty
* Henri Pirenne *
Karl Polanyi Karl Paul Polanyi (; hu, Polányi Károly ; October 25, 1886 – April 23, 1964) was an Austro-Hungarian economic historian, economic anthropologist, economic sociology, economic sociologist, political economist, historical sociology, historic ...
* Erik S. Reinert * Christina Romer * Walt Whitman Rostow, W. W. Rostow * Murray Rothbard * Tirthankar Roy *
Joseph Schumpeter Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian political economist. He was born in Moravia Moravia ( , also , ; cs, Morava ; german: link=no, Mähren ; pl, Morawy ; szl, Morawijo; la, Moravia) is a h ...
* Anna Jacobson Schwartz * Larry Schweikart * Ram Sharan Sharma * Robert Skidelsky, Baron Skidelsky, Robert Skidelsky *
Adam Smith Adam Smith ( 1723 – 17 July 1790) was a Scottish economist, philosopher as well as a moral philosopher Ethics or moral philosophy is a branch of philosophy that "involves systematizing, defending, and recommending concepts of right and ...

Adam Smith
* Graeme Snooks * Richard H. Steckel * R. H. Tawney *
Peter Temin Peter Temin (; born 17 December 1937) is an economist and economic historian, currently Gray Professor Emeritus of Economics, MIT and former head of the Economics Department. Education Temin graduated from Swarthmore College in 1959 before earning ...
*
Adam Tooze Adam J. Tooze (born 5 July 1967) is a British historian who is a Professor at Columbia University Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a Private university, private ...
* Francesca Trivellato * Eberhard Wächtler * Jeffrey Williamson * Tony Wrigley * Jan Luiten van Zanden


See also

* Capitalism *
CliometricsCliometrics (, also ), sometimes called new economic history or econometric history, is the systematic application of economic theory, econometric techniques, and other formal or mathematical methods to the study of history (especially social and e ...
* Critical juncture theory *
Economic History Association The Economic History Association (EHA) was founded in 1940 to "encourage and promote teaching, research, and publication on every phase of economic history Economic history is the academic study of economies or economic events of the past. Resea ...
*
Economic History Society The Economic History Society (EHS) is a learned society A learned society (; also known as a learned academy, scholarly society, or academic association) is an organization that exists to promote an discipline (academia), academic discipline, ...
* History of economic thought * Business history * History of capitalism * History of industrialisation


Notes


References


Further reading

* * *
Blum, Matthias, Colvin, Christopher L. (Eds.). 2018. ''An Economist's Guide to Economic History''. Palgrave.
* Gerold Blümle: ''Wirtschaftsgeschichte und ökonomisches Denken. Ausgewählte Aufsätze.'' Metropolis, Marburg, 2007, . * * * * * Kadish, Alon. ''Historians, Economists, and Economic History'' (2012) pp. 3–3
excerpt
* * * * * * * *Kevin O'Rourke, O'Rourke, K. (2019)
Economic History and Contemporary Challenges to Globalization
The Journal of Economic History, 79(2), 356–382. *Robert Solow, Solow, Robert M. "Economic History and Economics." The American Economic Review 75, no. 2 (1985): 328–31. www.jstor.org/stable/1805620. * KT Rammohan. 2011. 'Pathways to India's Economic Past'. in D Narayana and Raman Mahadevan (eds). 'Shaping India: Economic Change in Historical Perspective'. London, New York and New Delhi: Routledge. pp. 323–347. {{Authority control Economic history, Economic history studies, Schools of economic thought History of economic thought Academic disciplines