{"title":"The Universal Mint: Mexico’s Silver and the World Economy (1821–1870)","authors":"Sandra Kuntz Ficker","doi":"10.1353/cap.2022.0011","DOIUrl":"https://doi.org/10.1353/cap.2022.0011","url":null,"abstract":"Abstract:Throughout the modern era Mexico was the most important producer and provider of silver to the world economy; this continued to be true following Mexico’s independence from Spain in 1821 and until the end of international bimetallism in the 1870s. However, reconstruction of the flows of Mexico’s silver into the world economy has proven to be elusive. The reason for this is that neither Mexico nor Great Britain, the main importer of Mexican silver and the country that would increasingly act as the financial center of the world, has kept reliable registers of precious metals’ exports and imports. The aim of this paper is twofold. On the one hand, using a broad array of sources that have not been employed for this purpose before, it constructs a new annual series of Mexico’s silver exports between 1821 and 1870. On the other hand, it describes the main routes and destinations of Mexican silver and analyzes the uses that major importers made of it. Between 1822 and 1850 the function performed by Mexican silver was to support the monetary systems of Europe, especially France, and of the United States. Then, starting in 1850, Mexican silver played a vital role in strengthening the economic integration of the East into the world economy.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115100633","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The French Crime of 1873: A Comment","authors":"C. Kindleberger","doi":"10.1353/cap.2022.0017","DOIUrl":"https://doi.org/10.1353/cap.2022.0017","url":null,"abstract":"Abstract:The paper, written in 1998, discusses competing interpretations for international flows of gold and silver following the California and Australia gold discoveries. Against monetary interpretations of the “Eastern Drain,” it reasserts the importance of autonomous flows of silver to the East and in particular to India, as rooted in habits and cultural norms and independent from the international price mechanism.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125001567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A More Indian Path to Prosperity? Hindu Nationalism and Development in the Mid-Twentieth Century and Beyond","authors":"A. Balasubramanian","doi":"10.1353/cap.2022.0013","DOIUrl":"https://doi.org/10.1353/cap.2022.0013","url":null,"abstract":"Abstract:The question of how a country can pursue economic policy while safeguarding its— its national autonomy and identity from foreign influence in an unequal world has assumed new importance in the context of the rise of authoritarian leaders and critical interrogation of globalization in the late twentieth century. The analytic power of terms like neoliberalism and populism is questionable in explaining the economic policy mix or trajectory of an individual nation, especially in the non-Western world. Unearthing the idioms of expression and claims to authenticity of various political interests vying for influence on the scale of the nation-state may be more fruitful. A mosaic of such fragments can help illuminate the opacity of the economic present. Turning back to the period of decolonization in the mid-twentieth century, this article shows how India’s recently ascendant Hindu nationalists sought to stake their legitimacy on reconciling economic development to their form of cultural nationalism. It shows how and why Hindu nationalists fashioned a program of small-scale local industrial development and intranational trade as a more authentic alternative to the economic planning being pursued in India and elsewhere. This vision of development focused on the small Hindu trader of North India, the Hindu nationalists’ chief constituency. The legacies of this vein of thinking live on, bolstering popular support for Hindu nationalism and posing challenges to efforts seeking to further integrate India into the global economy.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125955458","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sandra Kuntz Ficker, T. Green, A. Balasubramanian, Cristian Capotescu, O. Sanchez-Sibony, M. Teixeira, Michael D. Bordo, Marc Flandreau, C. Kindleberger
{"title":"Death of the Journal Editor?","authors":"Sandra Kuntz Ficker, T. Green, A. Balasubramanian, Cristian Capotescu, O. Sanchez-Sibony, M. Teixeira, Michael D. Bordo, Marc Flandreau, C. Kindleberger","doi":"10.1353/cap.2022.0010","DOIUrl":"https://doi.org/10.1353/cap.2022.0010","url":null,"abstract":"Abstract:Throughout the modern era Mexico was the most important producer and provider of silver to the world economy; this continued to be true following Mexico’s independence from Spain in 1821 and until the end of international bimetallism in the 1870s. However, reconstruction of the flows of Mexico’s silver into the world economy has proven to be elusive. The reason for this is that neither Mexico nor Great Britain, the main importer of Mexican silver and the country that would increasingly act as the financial center of the world, has kept reliable registers of precious metals’ exports and imports. The aim of this paper is twofold. On the one hand, using a broad array of sources that have not been employed for this purpose before, it constructs a new annual series of Mexico’s silver exports between 1821 and 1870. On the other hand, it describes the main routes and destinations of Mexican silver and analyzes the uses that major importers made of it. Between 1822 and 1850 the function performed by Mexican silver was to support the monetary systems of Europe, especially France, and of the United States. Then, starting in 1850, Mexican silver played a vital role in strengthening the economic integration of the East into the world economy.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121877583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Bed, a Cover, and Possibly a Pillow: The International Labour Organization and the Housing Conditions of Agricultural Workers in the Interwar Years","authors":"Amalia Ribi Forclaz","doi":"10.1353/cap.2022.0004","DOIUrl":"https://doi.org/10.1353/cap.2022.0004","url":null,"abstract":"Abstract:The intimately mundane matter of sleeping quarters—of beds, blankets, and pillows—would seem a subject better suited to the domain of cultural history than to that of either labor history or the international political economy of the interwar years. And yet, in 1921, these objects became the focus of the newly created International Labour Organization (ILO) in Geneva, Switzerland. This article examines how the ILO addressed the problematic conditions in which farmworkers all over Europe were housed. It focuses on the way the ILO sought to define the needs of the farmworker and therefore assimilated as much as language from industrial settings as possible, identifying the \"agricultural worker\" as a hybrid whose situation both differed from and resembled that of factory workers. The ILO's investigations into the\"living-in conditions\" of hired farm labor offer a glimpse into the complexity of labor relations in the agricultural sector and the difficulty of viewing paid farmwork as just another form of wage paid labor.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"413 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123425390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gustav Cramer, Max J. Friedländer, and the Value of Expertise in the Arts","authors":"K. Oosterlinck","doi":"10.1353/cap.2022.0001","DOIUrl":"https://doi.org/10.1353/cap.2022.0001","url":null,"abstract":"Abstract:What is the value of expertise in the arts? This article relies on two microcases to address this general question. It focuses on the fate of Gustav Cramer and Max J. Friedländer in the occupied Netherlands during World War II. Their casesare exceptional in that both survived the war even though the Nazi occupation forces knew that they were Jewish according to the 1935 Nuremberg Laws and knew where they lived. This article argues that their lives were spared because both were experts in their fields, art history and art markets respectively, and were therefore valuable for the occupation forces. The analysis sheds new light on these forms of expertise and suggests that expertise may be subject to superstar effects. The unique position held by the arts for the Nazi regime is highlighted by comparing expertise in the arts with the economic value of other forms of expertise.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132161456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Small States in an Age of Empires: The Duchy of Parma's Colonial Moment, 1750–1770","authors":"Arnaud Orain, Sophus A. Reinert","doi":"10.1353/cap.2022.0002","DOIUrl":"https://doi.org/10.1353/cap.2022.0002","url":null,"abstract":"Abstract:Often thought of as the \"Athens of Italy\" during the Enlightenment, and as a microcosm of the Italian peninsula and of the eighteenth century alike, the Duchy of Parma played a unique role in the culture and politics of the age. This essay focuses on its \"colonial moment\" as a target of French imperial ambitions around the time of the Seven Years' War, on its vibrant intellectual life as well as on the theory and practice of its political economy. Many Parmese resented the duchy'srole as a de facto French colony under Secretary of State Guillaume Dutillot, and the resulting dynamics of acculturation, institutionalization, and resistance serve as a baroque mirror for the longer story of small states in tempestuous world economies and the broader historical dynamics of globalization and empire—dynamics which very much remain central to the past, present, and future of capitalism.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126172738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Swiss Capitalism, or the Significance of Small Things","authors":"P. Eichenberger","doi":"10.1353/cap.2022.0007","DOIUrl":"https://doi.org/10.1353/cap.2022.0007","url":null,"abstract":"Abstract:\"Small is beautiful,\" believedthe economist Ernst Friedrich Schumacher.For him, a more humane society required favoring smaller scales over gigantism. In the following essay, I reflect on the political economy of one of the smallest, and certainly the richest, of places on earth: Switzerland. I consider in particular older (Peter Katzenstein, Corporatism and Change) and newer (Lea Haller, Transithandel) literature on Swiss capitalism, and discuss the global impact of its powerful business lobbies, trading companies, and banks. I argue that the great power wielded by capitalists in Swiss politicshas translated into Switzerland's becoming an important cog in the machinery of global capitalism, a stronghold for neoliberalism, and a global warden of conservatism.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"76 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115328636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Banking for Jesus: Financial Services, Charity, and an Ethical Economy in Late Victorian and Edwardian Britain","authors":"J. Strange, S. Roddy","doi":"10.1353/cap.2022.0003","DOIUrl":"https://doi.org/10.1353/cap.2022.0003","url":null,"abstract":"Abstract:This essay extends current analysis of the relationship between charity and capitalism by examining one charity's engagement with financial capitalism. The Salvation Army, established in 1878, transformed charity-run financial services from a welfare initiative into a model of ethical capitalism. Historical analysis addressing the relationship Christian confessions had with money has focused largely on the United Statesand studied the morals around managing money rather than its acquisition. Histories of finance and accounting, meanwhile, have concentrated on large commercial banks, while scholarship on smaller savings banks is still emergent (and much stronger on US banks). This essay is situated in the matrix of these scholarships to, first, demonstrate on a micro level how a charity could bring about social change by pioneering \"ethical\" financial services and, second, consider the macro implications of such attempts for understanding the challenges inherent in reforming capitalist practices and the paradoxical \"capitalocentrism\" of even those that sought to advance alternative economies.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124133929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Metaphorical Overtures of Freedom and the Plantation Complex","authors":"U. Bosma, Kris Manjapra","doi":"10.1353/cap.2022.0006","DOIUrl":"https://doi.org/10.1353/cap.2022.0006","url":null,"abstract":"Abstract:Plantations are not only sites of industrial agricultural production but also places of new thinking. The study of the historical spread of the plantation complex provides insight into both the rise of new globally circulating concepts andalso, more fundamentally, into the underlying conditions for the rise of these concepts. Paradoxically, the global proliferation and transformation of plantation societies generated a metaphorical substructure that conditioned how disparate social groups, in contradictory and contested ways, imagined new meanings of freedom. Exploring the historical metaphorics of the plantation complex contributes to global intellectual history. This essay reenvisions the plantation complex as central to modernity's epistemology—to the critical reflection on the parameters of knowledge in modern times, and how they emerged and morphed in relation to the forces of history.","PeriodicalId":243846,"journal":{"name":"Capitalism: A Journal of History and Economics","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127139142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}