The Political Economy of Merchant Empires: State Power and World Trade, 1350–1750

Studies in Comparative Early Modern History

by James D. Tracy (Editor)

The Political Economy of Merchant Empires focuses on why European concerns eventually achieved dominance in global trade in the period between 1450 and 1750, at the expense, especially in Asia, of well-organized and well-financed rivals. The volume is a companion to The Rise of Merchant Empires (1990), which dealt with changes in the growth and composition of long-distance trade during the same period.

Genres: History, World History, Economics, Politics, The World, Nonfiction

516 pages, Hardcover

First published September 13, 1991

Reviews

[Brian · Rating 5 out of 5]

The Political Economy of Merchant Empires is a thorough study with empirical backing into the age of Empire for Europe. Looking at everything from the cost of shipping to the accumulation of resources (both specie and inputs for production) this book dives deep into how the Empires formed and how they financed their process. It assesses the profitability of each empire and the development (although slowly) of trade specialization and resource allocation. Each chapter is its own article, and many are through in charts and graphs showing shifts in supply, demand, and the evolution of monopolies to early emerging free markets. Most of the chapters do cut off about 1750 and can back into the 1400’s. The authors are all renowned scholars in their fields and each took their topic well. They bring out a new perspective stitching together how these merchant empires rose and the importance they played to the state. As a former student of economics and history these are the books I live for. Admittedly a niche market but this one is done very well and kicks off Strong with Douglas North chapter.