En la práctica el dinero invertido en una colonia de iure como la India (o en una colonia en todo sentido, excepto el nombre como Egipto) era mucho más seguro que invertir en una colonia de facto como...
El historiador económico David Landes ha elaborado recientemente una lista de medidas que el gobierno ideal tendría que adoptar para el crecimiento y desarrollo: 1. aseguraría los derechos de la pr...
El famoso lema de Samuel Adams: «No taxation without representation» («No a los impuestos sin representación») no era un rechazo a lo británico, sino su afirmación enfática. Lo que los colonos decían...
Desde que en 1579 se hubieron sacudido del dominio español, los holandeses habían estado a la vanguardia del capitalismo europeo. Habían creado un sistema de deuda pública que permitía al gobierno tom...
David Landes sintetizó esta perspectiva postulando que el gobierno ideal para el crecimiento y desarrollo 1. aseguraría los derechos de la propiedad privada del mejor modo posible para alentar el ah...
Como señalaba Hayek: «Sostener que debemos planificar de forma deliberada la sociedad moderna porque se ha vuelto demasiado compleja es, por tanto, paradójico, y el resultado de un malentendido total...
Communism was a distinct possibility until the coup of 1989’.2 Yet it was obvious to any attentive visitor to the Soviet Union that something was amiss with the planned economy. Consumer goods were of...
Can a non-Western power really hope to benefit from downloading Western scientific knowledge, if it continues to reject that other key part of the West’s winning formula: the third institutional innov...
By discouraging saving and encouraging consumption, accelerating inflation had stimulated output and employment
By allowing merchants to set up accounts denominated in a standardized currency, the Exchange Bank pioneered the system of cheques and direct debits or transfers that we take for granted today. This a...
But the foundation on which all of this rested was the underlying credibility of a borrower’s promise to repay. (It is no coincidence that in English the root of ‘credit’ is credo, the Latin for ‘I be...
Brexit was a dress rehearsal for the US presidential election of 2016. As in Britain, so in the United States, the political establishment took it for granted that the old ways would suffice.
Bread, cash, dosh, dough, loot, lucre, moolah, readies, the where-withal: call it what you like, money matters. To Christians, the love of it is the root of all evil. To generals, it is the sinews of...
Between a half and two-thirds of all Europeans who migrated to North America between 1650 and 1780 did so under contracts of indentured servitude;
Between 1929 and 1933, the public succeeded in increasing its cash holdings by 31 per cent; commercial bank reserves were scarcely altered (indeed, surviving banks built up excess reserves); but comme...
Although the court recognizes his right to insist on his bond - to claim his pound of flesh - the law also prohibits him from shedding Antonio’s blood.
Although it performed the same functions as the Dutch Wisselbank, the Riksbank was also designed to be a Lanebank, meaning that it engaged in lending as well as facilitating commercial payments. By le...
En Latinoamérica las constituciones se utilizan como instrumentos para subvertir el propio imperio de la ley
Trajectory, culminating in the Industrial Revolution.8 In their terms, England was the first country to move to having ‘inclusive’ or ‘pluralistic’ rather than ‘extractive’ political institutions. Not...
Though this was not formally demonstrated until the 2010 mid-term elections to Congress – Facebook was a highly effective tool for political mobilization, especially when used to target local non-digi...