9780691166735-0691166730-States of Credit: Size, Power, and the Development of European Polities (The Princeton Economic History of the Western World)

States of Credit: Size, Power, and the Development of European Polities (The Princeton Economic History of the Western World)

ISBN-13: 9780691166735
ISBN-10: 0691166730
Edition: Reprint
Author: Stasavage, David
Publication date: 2015
Publisher: Princeton University Press
Format: Paperback 208 pages
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Book details

ISBN-13: 9780691166735
ISBN-10: 0691166730
Edition: Reprint
Author: Stasavage, David
Publication date: 2015
Publisher: Princeton University Press
Format: Paperback 208 pages

Summary

Acknowledged authors Stasavage, David wrote States of Credit: Size, Power, and the Development of European Polities (The Princeton Economic History of the Western World) comprising 208 pages back in 2015. Textbook and eTextbook are published under ISBN 0691166730 and 9780691166735. Since then States of Credit: Size, Power, and the Development of European Polities (The Princeton Economic History of the Western World) textbook was available to sell back to BooksRun online for the top buyback price or rent at the marketplace.

Description

States of Credit provides the first comprehensive look at the joint development of representative assemblies and public borrowing in Europe during the medieval and early modern eras. In this pioneering book, David Stasavage argues that unique advances in political representation allowed certain European states to gain early and advantageous access to credit, but the emergence of an active form of political representation itself depended on two underlying factors: compact geography and a strong mercantile presence.


Stasavage shows that active representative assemblies were more likely to be sustained in geographically small polities. These assemblies, dominated by mercantile groups that lent to governments, were in turn more likely to preserve access to credit. Given these conditions, smaller European city-states, such as Genoa and Cologne, had an advantage over larger territorial states, including France and Castile, because mercantile elites structured political institutions in order to effectively monitor public credit. While creditor oversight of public funds became an asset for city-states in need of finance, Stasavage suggests that the long-run implications were more ambiguous. City-states with the best access to credit often had the most closed and oligarchic systems of representation, hindering their ability to accept new economic innovations. This eventually transformed certain city-states from economic dynamos into rentier republics.


Exploring the links between representation and debt in medieval and early modern Europe, States of Credit contributes to broad debates about state formation and Europe's economic rise.

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