Bayesian Analysis and Free Market Trade within the Roman Empire

Mosaic of amphorae being unloaded from a ship, Ostia / Southampton University, Creative Commons The trade networks of the Roman Empire are among the most intensively researched large-scale market systems in antiquity,       By (left-to-right) Dr. Xavier Rubio-Campillo, María Coto-Sarmiento, Jordi Pérez-Gonzalez, and Dr. José Remesal Rodríguez Rubio-Campillo: Lecturer in Archaeology; Computational Archaeology, The[…]

Economic Thought in Ancient Greece

The Greeks failed miserably to see the need for the development of a discipline, economic science, devoted to the study of the spontaneous processes of social cooperation that comprise the market. By Dr. Jesús Huerta de Soto / 09.15.2010 Professor of Political Economy Rey Juan Carlos University, Madrid Introduction The intellectual odyssey that laid the[…]

How Medieval Towns Paved the Way for Capitalism

Economic, legal, and social institutions emerged that were essential to the development of an extensive and complex market economy. By LTC Richard M. Ebeling, PhD / 10.12.2016 BB&T Distinguished Professor of Ethics and Free Enterprise Leadership The Citadel Introduction While the manors, to a great extent, survived through a rather comprehensive system of self-sufficiency, the[…]

Unimagined Lows: The Depths of the Great Depression

The country’s most vulnerable populations were the hardest hit. Edited by Matthew A. McIntosh / 08.27.2018 Historian Brewminate Editor-in-Chief Introduction From industrial strongholds to the rural Great Plains, from factory workers to farmers, the Great Depression affected millions. In cities, as industry slowed, then sometimes stopped altogether, workers lost jobs and joined breadlines, or sought[…]

When the Dam Breaks: The Stock Market Crash of 1929

While it is misleading to view the stock market crash of 1929 as the sole cause of the Great Depression, the dramatic events of that October did play a role in the downward spiral of the American economy. Edited by Matthew A. McIntosh / 08.28.2018 Historian Brewminate Editor-in-Chief Introduction Herbert Hoover became president at a[…]

The Economic Costs of the Civil War

A One Hundred Dollar Confederate States of America banknote dated December 22, 1862. Issued during the American Civil War (1861–1865) / Wikimedia Commons What was the economic impact of the Civil War on American life? By Dr. Burton W. Folsom / 03.23.2011 Senior Fellow in Economic Education Mackinac Center for Public Policy Even after 150[…]

Ancient Economic Thought

Mysia Islands off Troas, Tenedos. Circa 100-70 BC. Tetradrachm (Silver, 16.27 g 12). / Photo by Exekias, Wikimedia Commons The earliest discussions of economics date back to ancient times, such as Chanakya’s Arthashastra or Xenophon’s Oeconomicus Edited by Matthew A. McIntosh / 08.19.2018 Historian Brewminate Editor-in-Chief Introduction In the history of economic thought, early economic[…]

Ancient Human Activity and the Necessary Conditions for Indirect Exchange

The historical emergence and use of money is an important question. By Dr. Alexander W. Salter / 12.07.2017 Comparative Economics Research Fellow Assistant Professor of Economics Texas Tech University The historical emergence and use of money is an important question. It is important in its own right as academic history and because it highlights the[…]

An Overview of the History, Theory, and Practice of Socialism

Socialists in Union Square, New York City, May 1, 1912 / Library of Congress, Wikimedia Commons Socialism has a very long history. The earliest recorded socialist society is described in the Book of Acts in the Bible. Edited by Matthew A. McIntosh / 08.10.2018 Historian Brewminate Editor-in-Chief Introduction Socialism has a very long history. The[…]

The American Market Revolution, 1815-1840

William James Bennett, “View of South Street, from Maiden Lane, New York City,” ca. 1827 / Metropolitan Museum of Art Edited by Matthew A. McIntosh / 03.10.2018 Historian Brewminate Editor-in-Chief 1 – The Market Revolution 1.1 – Introduction The Market Revolution of the nineteenth century radically shifted commerce as well as the way of life for[…]

An Introduction to the Agriculture Economics

Edited by Matthew A. McIntosh / 02.24.2018 Historian Brewminate Editor-in-Chief The Agriculture Market Landscape Introduction The agricultural market landscape is the economic system that produces, distributes, and consumes agricultural products and services. Agriculture, in many ways, has been the fundamental economic industry throughout history. The production and exchange of food laid the groundwork for all[…]

A Brief History of Economic Networks in the Early Modern and Modern Worlds

By Dr. Christian Marx / 09.28.2012 Professor of Economic History University of Trier Abstract This article discusses various network structures in which commercial transactions occurred and economic actors organized their activities. Simultaneous membership of multiple networks means that it is not possible to draw a sharp distinction between economic networks and political, cultural and religious[…]

Economy and Trade in the Western World from the Early Modern to Modern Periods

Waldseemüller (Martin Waldseemüller) map from 1507 is the first map to include the name “America” and the first to depict the Americas as separate from Asia. There is only one surviving copy of the map, which was purchased by the Library of Congress in 2001 for $10 million. By Dr. Philipp Rössner / 02.03.2017 Lecturer in Early Modern History The[…]

How Advertising Shaped Thanksgiving as We Know It

Libby’s continues to fiercely compete with pumpkin pie peddlers Borden’s, Snowdrift and Mrs. Smith’s for a place on the Thanksgiving table. Jean Beaufort By Dr. Samantha N.N. Cross / 11.20.2017 Associate Professor of Marketing Iowa State University I have always been intrigued by Thanksgiving – the traditions, the meal, the idea of a holiday that is[…]