An Economic History of Europe: Knowledge, Institutions and by Karl Gunnar Persson

By Karl Gunnar Persson

This concise and available advent to eu fiscal historical past focusses at the interaction among the improvement of associations and the iteration and diffusion of knowledge-based applied sciences. the writer demanding situations the view that eu fiscal background sooner than the commercial Revolution used to be restricted via inhabitants development outstripping on hand assets. He argues as a substitute that the proscribing issue used to be the information wanted for technological growth but in addition that Europe used to be specified in constructing a systematic tradition and associations which have been the root for the unparalleled technological growth and fiscal development of the 19th and 20th centuries. easy explanatory ideas are used to provide an explanation for progress and stagnation in addition to the convergence of source of revenue through the years while textual content bins, figures, an intensive thesaurus and on-line routines let scholars to enhance a entire knowing of the topic. this is often the one textbook scholars might want to comprehend Europe's special fiscal improvement and its worldwide context.

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Additional info for An Economic History of Europe: Knowledge, Institutions and Growth, 600 to the Present (New Approaches to Economic and Social History)

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Nutrients deep in the soil were therefore released. As the pressure on available land increased again in the twelfth and thirteenth centuries land was used more efficiently, for example the fallow periods were reduced. A three-period rotation scheme was introduced whereby a third of the land was left fallow and the other two thirds were used for winter 38 2 Europe from obscurity to economic recovery and spring crops. The fallow land was suitable for grazing animals and animal dung helped to renew its fertility.

3. The Roman heartland, Italy, was the only part of Europe to have a high urbanization rate in Antiquity, and in the first half of the second millennium its cities were advanced by European standards in terms of occupational diversity and income levels. 3 indicates, the new centres of urban production and growth were located in the ‘Low Countries’, an area stretching from northern France to the Netherlands. However, that area also did not maintain its urban surge and was surpassed by Britain in the late eighteenth century.

The opportunity cost of that good will fall. For example, the more cloth the household produces the better it gets at doing so in the sense that each successive unit of cloth can be produced by forsaking less and less food. Initially we can think of the households as self-sufficient, and they will produce and consume a combination of food and cloth, say, at a (as in ‘autarky’), which implies 0CA cloth and 0FA food. Exchange between producers will improve the lot of all. Given the gains from specialization, it would be advantageous for the households to specialize fully in only one of the commodities.

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