By Karl Gunnar Persson
This concise and available creation to ecu fiscal historical past focusses at the interaction among the advance of associations and the iteration and diffusion of knowledge-based applied sciences. the writer demanding situations the view that ecu fiscal background prior to the commercial Revolution used to be restricted by way of inhabitants development outstripping to be had assets. He argues as an alternative that the proscribing issue was once the data wanted for technological development but in addition that Europe used to be detailed in constructing a systematic tradition and associations that have been the root for the unheard of technological growth and financial progress of the 19th and 20th centuries. uncomplicated explanatory recommendations are used to provide an explanation for progress and stagnation in addition to the convergence of source of revenue over the years while textual content containers, figures, an in depth word list and on-line routines permit scholars to improve a entire figuring out of the topic. this is often the one textbook scholars might want to comprehend Europe's distinctive financial improvement and its international context.
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Additional resources for An Economic History of Europe: Knowledge, Institutions and Growth, 600 to the Present (New Approaches to Economic and Social History)
Urban dwellers are active in non-food production, and if the proportion of non-food producers is increasing it means that demand for goods which are not necessities is increasing. The fundamental reason for this phenomenon is the fact that the income elasticity* of demand for food is lower than for non-food items such as cloth and luxuries:Â€this is known as Engel’s law*. Urban settlements not only excelled in the number of artisan specialists they possessed but also had a large array of service providers, from finance and law to medicine.
8â•‡ Transport and trade routes The Roman Empire bequeathed to large parts of post-Roman Europe an Â�extensive road network, which remained the transport infrastructure, although maintenance differed over time and across regions. Bulk long-distance transport of, say, grain and wine was preferably along coasts and rivers in ships and barges. The size and hence carrying capacity of ships increased and navigation techniques improved with the help of new types of sails and rigging which permitted a better use of the wind.
Although empire building like that of the Romans tended to create homogeneity in language and law, there were limits to the extension of empire. These limits were set by the mounting costs of policing frontier areas as well as the Â�falling revenues from populations at a lower level of income. At the geographicalÂ�margin, the forces of gravity from the large core economies were too weak to generate sufficient trade. Furthermore, the neighbouring economies differed in income levels and technology, in culture and preferences, in language and law, and these differences remained because they constituted a barrier to trade.
An Economic History of Europe: Knowledge, Institutions and Growth, 600 to the Present (New Approaches to Economic and Social History) by Karl Gunnar Persson