In a model study Jacob Price illuminates the dynamic growth of Britain’s foreign trade in the eighteenth century through an investigation of the investment patterns and credit institutions that financed that expansion. Concentrating on the trade between Britain and the Chesapeake tobacco colonies of Virginia and Maryland, for which a unique set of records exists, Price surveys the ways in which commerce developed and working capital was mobilized in Britain to support expanding overseas trade. Price develops the clearest picture ever of the financial environment within Britain as it affected Southern colonies in the preindustrial age. He does so by determining the kind of capital resources merchants in foreign trade actually commanded and measuring how much of their own wealth merchants brought to trade. In great and absorbing detail he discusses also the development of merchant-oriented banks in London and other ports, reinvestment of profits, long-term borrowing on bond, and the long-term credit provided to export merchants by wholesalers in textiles, ironmongery, and other industries. The relationship of debt to the coming of the American Revolution is also treated. Tobacco growers suffered more than others from a psychological unease caused by immense debt and were more revolutionary than farmers with less intensive capital needs and, hence, with lighter debt. This history will enlighten Anglo-American historians, economic historians, and historians of the American revolutionary era.

This book tells the story of the Dönme, the descendents of Jews who resided in the Ottoman Empire and converted to Islam along with their messiah, Rabbi Shabbatai Tzevi, in the seventeenth century. For two centuries following their conversion, the Dönme were accepted as Muslims, and by the end of the nineteenth century rose to the top of Salonikan society. The Dönme helped transform Salonika into a cosmopolitan city, promoting the newest innovation in trade and finance, urban reform, and modern education. They eventually became the driving force behind the 1908 revolution that led to the overthrow of the Ottoman sultan and the establishment of a secular republic. To their proponents, the Dönme are enlightened secularists and Turkish nationalists who fought against the dark forces of superstition and religious obscurantism. To their opponents, they were simply crypto-Jews engaged in a plot to dissolve the Islamic empire. Both points of view assume the Dönme were anti-religious, whether couched as critique or praise. But it is time that we take these religious people seriously on their own terms. In the Ottoman Empire, the Dönme promoted morality, ethics, spirituality, and a syncretistic religion that reflected their origins at the intersection of Jewish Kabbalah and Islamic Sufism. This is the first book to tell their story, from their origins to their near total dissolution as they became secular Turks in the mid-twentieth century.

Edwin Black s latest book, Financing the Flames: How Tax-Exempt and Public Money Fuel a Culture of Confrontation and Terrorism in Israel, pulls the cover off the robust use of US tax-exempt, tax-subsidized, and public monies to foment agitation, systematically destabilize the Israel Defense Forces, and finance terrorists in Israel. In a far-flung investigation in the United States, Israel and the West Bank, human-rights investigative reporter Edwin Black documents that it is actually the highly politicized human rights organizations and NGOs themselves all American taxpayer supported which are financing the flames that make peace in Israel difficult if not impossible. Black spotlights key charitable organizations such as the Ford Foundation, George Soros s Open Society Foundations, the New Israel Fund, and many others, as well as American taxpayers as a group. Instead of promoting peace and reconciliation between Arabs and Israelis, a variety of taxpayer-subsidized organizations have funded a culture where peace does not pay, but warfare and confrontation do. Ironically, several Jewish organizations, scooping up millions in tax-subsidized donations, stand at the forefront of the problem. At the same time, the author details at great length the laudable and helpful activities of such groups as the New Israel Fund; he chronicles a heartbreaking conflict between stated intent and true impact on the ground. In addition to documenting questionable 501(c)(3) activity, Black documents the direct relationship between taxpayer assistance to the Palestinian Authority and individuals engaged in terrorism against civilians.

PROMISE AND FULFILMENT Palestine TO ABRAM AND JASHA WEINSHALL CITIZENS OF ISRAEL AS A TOKEN OF A QUARTER-CENTURY OF FRIENDSHIP ACKNOWLEDGMENTS MY sincere thanks are due to R. H. S. Grossman, M. P., and Messrs. Hamish Hamilton, for permission to use the long extract pp. 102-7 from Grossmans Palestine Mission to a member of the Israeli Foreign Office, who wishes to remain anonymous, for per mission to print his Report from Jerusalem pp. 234-8 to Mr. George Pape, Librarian of the Public Information Office in Tel Aviv, and Dr. G. Pollack of the Israeli Ministry of Finance, for valuable research work and to Miss Daphne Wood ward, for helping with the proofs. A. K. PREFACE THIS book consists of three parts, Background, Close-up and Perspective . The first part is a survey of the develop ments which led to the foundation of the State of Israel. It lays no claim to historical completeness, and is written from a specific angle which stresses the part played by irrational forces and emotive bias in history. I am not sure whether this emphasis has not occasionally resulted in over-emphasis as is almost in evitable when one tries to redress a balance by spot-lighting aspects which are currently neglected. But it was certainly not my intention, by underlining the psychological factor, to deny or minimize the importance of the politico-economic forces. My aim was rather to present, if I may borrow a current medical term, a psycho-somatic view of one of the most curious episodes in modern history. The second part, Close-up, is meant to give the reader a close and coloured, but not I hope technicoloured, view of the Jewish war and of everyday life in the new State. It opens and ends with extracts fromthe diary of my last sojourn as a war correspondent in Israel. The emphasis here is on life in the towns, with only occasional glimpses of the collective settlements, since I have given a detailed description of these in an earlier book. The third part, Perspective, is an attempt to present to the reader a comprehensive survey of the social and political structure, the cultural trends and future prospects of the Jewish State. I have tried to show elsewhere that the creative processes of the artist and the scientist follow the same mental pattern, and that the sciences may legitimately be called neutral arts, separated from the emotive arts not by any distinct barrier but merely by the quality of our emotive reactions. In this sense vii Viii PROMISE AND FULFILMENT history, too, is a neutral art with mythology and bardic folklore as connecting links to the emotive arts of drama and fiction. But the emotive neutrality which should characterize the chronicler is not the same thing as indifference, and his object ivity can only be the result of a subjective passion for the pursuit of truth. It is a poor sort of impartiality which stands outside the parties, untouched by their emotions the good judge, like the playwright and historian, absorbs the subjective truth con tained in each of the conflicting pleas, and his verdict is a syn thesis of their part-truths, not their denial. In other words, r objectivity is a state of balanced emotions, not an emotive vacuum. This book, then, should be regarded as a subjective pursuit of the objective truth. I lived in Palestine from my twentieth to my twenty-third year, as a farmer, tramp, and on various odd jobs finally as a foreign correspondent. Ihave since revisited the country at fairly regular intervals, and each of these visits provided an occasion not only to study developments in the country, but also my personal attitude to it. The last phase of this pilgrims progress through a thicket of emotive and ideo logical entanglements is summed up in the Epilogue. It may also be read as a prologue, and serve as an indication of the point of view from which certain controversial problems are treated in this book...

Review “Leo Panitch and Colin Leys have written a book whose significance extends far beyond the specific case of the British Labour Party.”—Critical Sociology “... a brilliant refutation of New Labour’s version of history. With an impressive range of evidence, careful analysis and a theoretical framework, [Panitch and Leys] have provided a highly readable and committed book ... recommended for everyone who really wants to understand the politics and recent history of the Labour Party.”—Contemporary Politics “... a rich and immensely enjoyable narrative, full of detail about the trajectory taken by Labour over the last quarter-century.”—Times Literary Supplement Product Description This trenchant account of the last twenty-five years of the British Labour Party argues that Tony Blair’s modernizing tendency was profoundly mistaken in asserting that the only alternative to traditional social democracy and narrow parliamentarianism was an acceptance of neo-liberalism. In blaming the Labour left, rather than the social-democratic right for the party’s years in the electoral wilderness, the modernizers rejected the creativity and energy which the party’s New Left had mobilized, and without which their own professed aim of democratic renewal was unlikely to be realized. About the Author Colin Leys is Emeritus Professor of Political Studies at Queen’s University, Canada. His previous books include Politics in Britain, The Rise and Fall of Development Theory and, with Leo Panitch, The End of Parliamentary Socialism. Leo Panitch is Canada Research Chair in Comparative Political Economy and Distinguished Research Professor of Political Science at York University. Editor of The Socialist Register for 25 years, his many books include Working Class Politics in Crisis, A Different Kind of State, The End of Parliamentary Socialism, and American Empire and The Political Economy of Global Finance.

Over 500 illustrations document the Jewish contribution to American politics, commerce, industry, finance, labor, and the arts and highlight this survey of daily life and great Jewish personalities

A masterful biographer now offers a thrilling, definitive portrait of one of history’s most legendary icons of adventure. In 1860, sixteen-year-old Joshua Slocum escaped a hardscrabble childhood in Nova Scotia by signing on as an ordinary seaman to a merchant ship bound for Dublin. Despite having only a third-grade education, Slocum rose through the nautical ranks at a mercurial pace; just a decade later he was commander of his own ship. His subsequent journeys took him nearly everywhere: Liverpool, China, Japan, Cape Horn, the Dutch East Indies, Manila, Hong Kong, Saigon, Singapore, San Francisco, and Australia—where he met and married his first wife, Virginia, who would sail along with him for the rest of her life, bearing and raising their children at sea. He commanded eight vessels and owned four, enduring hurricanes, shipwrecks, pirate attacks, cholera, smallpox, a mutiny, and the death of his wife and three of his children. Yet his ultimate adventure and crowning glory was still to come. In 1895 Slocum set sail from Gloucester, Massachusetts—by himself—in the Spray, a small sloop of thirty-seven feet. More than three years and forty-six thousand miles later, he became the first man to circumnavigate the globe solo, a feat that wouldn’t be replicated until 1925. His account of that voyage, Sailing Alone Around the World , soon made him internationally famous. He met President Theodore Roosevelt on several occasions and became a presence on the lecture circuit, selling his sea-saga books whenever and wherever he could. But scandal soon followed, and a decade later, with his finances failing, he set off alone once more—and was never seen again. Geoffrey Wolff captures this singular life and its flamboyant times—from the Golden Age of Sail to a shockingly different new century—in vivid, fascinating detail.

The metaphor that frames this collection of recent studies reflects a broad perspective and understanding of the complexities of transition: every highway and byway leads eventually to capitalism, Kornai observes, but to what kind, how fast, and at what cost? Who wins and who loses? Hungarian economist János Kornai first used the metaphor of a single path to postsocialist transition in his earlier book, The Road to a Free Economy . The new metaphor that frames this collection of recent studies reflects a broader perspective and understanding of the complexities of transition: every highway and byway leads eventually to capitalism, Kornai observes, but to what kind, how fast, and at what cost? Who wins and who loses? Kornai draws from his experiences of Hungarian reform as well as from countries of the former Soviet Union to make several major points. The first three studies describe what went wrong in countries that tried to mix elements of planned and market economies. Efforts made by communist countries to introduce market socialism (the "middle road") contained an inherent contradiction between the logic of socialism and the logic of a free enterprise system, and were doomed to failure. In the studies that follow, Kornai analyzes the ongoing dilemmas. The transition from communism to free enterprise is filled with daunting hurdles; it requires no less than redefining ownership, changing values concerning the distribution of wealth, transferring the control of political power, creating financial institutions and enforcing financial discipline, and making deep economic sacrifice. Kornai closes with an overall survey of postsocialist transition, describing the stages that countries tend to go through, that will be particuarly useful to scholars of comparative economic systems.

Banking and Finance Among Jews in Renaissance Italy is a historical book written by Yehiel Nissim Da Pisa. The book explores the role of Jews in the banking and finance industry during the Renaissance period in Italy. It examines the economic, social, and political conditions that led to the emergence of Jewish bankers and financiers in Italy and their impact on the economy of the region. The book provides a detailed account of the Jewish banking families and their business practices, including their involvement in international trade and the creation of credit networks. It also discusses the challenges faced by Jewish bankers, including anti-Semitic attitudes and discriminatory laws. Through extensive research and analysis of primary sources, Da Pisa offers a comprehensive understanding of the Jewish banking and finance industry in Renaissance Italy. The book is an essential read for anyone interested in the history of banking and finance, Jewish history, and the Renaissance period.Text Language Is English And Hebrew.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.

This book traces the Jewish thread throughout English life between the Tudors and the beginnings of mass immigration in the mid-nineteenth century. The writing of English history has been very largely framed without taking note of the Jewish presence at all - here, for the first time, the Jewsare shown as an integral part of English religious and social history.David Katz explores completely new subjects in depth, such as the Jewish advocates of Henry VIII's divorce, and the Jewish conspirators of Elizabethan England, without neglecting themes such as the role of Jewish finance and the emergence of Anglo-Jewish institutions. This extensively researched andaccessible history of the Jews in England over almost four centuries will be essential reading for those interested in English and Jewish history.

This book presents a comprehensive study of the most famous and spectacular instance of inflation in modern industrial society--that in Germany during and following World War I. A broad, probing narrative, this book studies inflation as a strategy of social pacification and economic reconstruction and as a mechanism for escaping domestic and international indebtedness. The Great Disorder is a study of German society under the tension of inflation and hyperinflation, and it explores the ways in which Germany's hyperinflation and stabilization were linked to the Great Depression and the rise of National Socialism. This wide-ranging study sets German inflation within the broader issues of maintaining economic stability, social peace, and democracy and thus contributes to the general history of the twentieth century and has important implications for existing and emerging market economies facing the temptation or reality of inflation.

This book was prepared mainly for specialists on the assumption that it would provide the background to an important neglected field of discussion in public finance. Since it was first published in 1958, the theory of public goods and its implications for public policy have become incorporated in the main body of the economic analysis of public finance in the literature. A glance at the footnotes of some of the standard textbooks on public finance indicates that this assembly of articles has not been in vain. Probably the most influential part of this collection has been the papers concerned with the theory of public expenditure, which contains two closely related elements. The first is as a part of welfare economics: under what conditions can Pareto optimality be achieved in an economic system in which some goods supplied are indivisible? The other strand of thought is concerned with the positive theory of the public sector: how can economic analysis be used in order to explain how the size and composition of the budget is actually determined?

As the founder of financial futures and initiator of Globex, the world's first global electronic trading system, Leo Melamed revolutionized the finance industry. Man of the Futures, his definitive memoir, recounts Melamed's journey from Holocaust survivor and accidental runner at the Chicago Mercantile Exchange (CME), to one of the most prominent leaders in the world of finance. At 33, Melamed gave up a promising law career to pursue his dream of becoming a full-time pit-trader at the CME. He quickly ascended the ranks to become chairman. From there, he set out to disrupt the status quo and ultimately transform both the exchange itself and the broader finance industry. Through daring to embrace innovative ideas many considered absurd, Melamed was a pioneer, continually fighting for modernisation in the financial markets through diversification and the introduction of new technologies. Covering the internal battles waged within the CME, the launch of the International Monetary Market (IMM) and the rise of Globex, this enthralling autobiography details the struggles, scandals and triumphs of a visionary in his field. Together with behind-the-scenes reminiscences about the financial markets, this narrative delves into Melamed's philanthropic work at the US Holocaust Memorial Museum, as well as his fascinating dealings with political figures at home in Chicago, at the White House, and around the world in China, Japan, Singapore, Great Britain, Russia, South Korea, and Brazil. . Man of the Futures offers exclusive access to the rationale behind some of the biggest financial decisions and dealings in the late 20th and early 21st century. Join Leo Melamed for this fascinating and revealing story of a life lived in pursuit of the future. --

Every city and every state needs a Richard Ravitch. In sixty years on the job, whether working in business or government, he was the man willing to tackle some of the most complex challenges facing New York. Trained as a lawyer, he worked briefly for the House of Representatives, then began his career in his family's construction business. He built high-profile projects like the Whitney Museum and Citicorp Center but his primary energy was devoted to building over 40,000 units of affordable housing including the first racially integrated apartment complex in Washington, D.C. He dealt with architects, engineers, lawyers, bureaucrats, politicians, union leaders, construction workers, bankers, and tenants—virtually all of the people who make cities and states work. It was no surprise that those endeavors ultimately led to a life of public service. In 1975, Ravitch was asked by then New York Governor Hugh Carey to arrange a rescue of the New York State Urban Development Corporation, a public entity that had issued bonds to finance over 30,000 affordable housing units but was on the verge of bankruptcy. That same year, Ravitch was at Carey's side when New York City's biggest banks said they would no longer underwrite its debt and he became instrumental to averting the city's bankruptcy. Throughout his career, Ravitch divided his time between public service and private enterprise. He was chairman of the Metropolitan Transportation Authority from 1979 to 1983 and is generally credited with rebuilding the system. He turned around the Bowery Savings Bank, chaired a commission that rewrote the Charter of the City of New York, served on two Presidential Commissions, and became chief labor negotiator for Major League Baseball. Then, in 2008, after Governor Eliot Spitzer resigned in a prostitution scandal and New York State was in a post-financial-crisis meltdown, Spitzer's successor, David Paterson, appointed Ravitch Lieutenant Governor and asked him to make recommendations regarding the state's budgeting plan. What Ravitch found was the result of not just the economic downturn but years of fiscal denial. And the closer he looked, the clearer it became that the same thing was happening in most states. Budgetary pressures from Medicaid, pension promises to public employees, and deceptive budgeting and borrowing practices are crippling our states' ability to do what only they can do—invest in the physical and human infrastructure the country needs to thrive. Making this case is Ravitch's current public endeavor and it deserves immediate attention from both public officials and private citizens.

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

"Essential reading for understanding the international economy--now thoroughly updated Lucid, accessible, and provocative, and now thoroughly updated to cover recent events that have shaken the global economy, Globalizing Capital is an indispensable account of the past 150 years of international monetary and financial history--from the classical gold standard to today's post-Bretton Woods 'nonsystem.' Bringing the story up to the present, this third edition covers the global financial crisis, the Greek bailout, the Euro crisis, the rise of China as a global monetary power, the renewed controversy over the international role of the U.S. dollar, and the currency war. Concise and nontechnical, and with a proven appeal to general readers, students, and specialists alike, Globalizing Capital is a must-read for anyone who wants to understand where the international economy has been--and where it may be going"--

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

B'nai B'rith has a history almost as diverse as the story of American Jewry itself. The oldest secular Jewish organization in the United States, it was founded in 1843. Thereafter, it followed in the footsteps of its immigrant founders, spreading into the cities, towns, and villages of America, eventually becoming the worldwide order it is today. What is more, B'nai B'rith's physical expansion was paralleled by the scope of its activities. It supports one of the most prominent American Jewish defense organizations, the Anti-Defamation League. Its Hillel Foundations constitute an international network of student activities on college campuses. It sponsors a broad array of learning programs through its Adult Jewish Education Commission. The B'nai B'rith Youth Organization serves the entire Jewish community. It conducts projects and programs in Israel of philanthropic and educational nature, helps finance several national Jewish hospitals and homes for the aged, and supervises an International Council to coordinate its overseas units and to take responsible action on issues relating to world Jewish affairs. And it is partnered in all these activities by B'nai B'rith Women, an independent organization. This is the saga of B'nai B'rith, recounted by Professor Deborah Dash Moore. To elucidate the diverse facets of this venerable, yet youthful, organization and to reveal their integral relationship to the history of the Jews in America, Professor Moore focuses on the moments of innovation that have influenced its development and direction, and on the outstanding individuals who have guided the Order's destiny.

This book analyzes the European Great Recession of 2008-12, its economic and social causes, its historical roots, and the policies adopted by the European Union to find a way out of it. It contains explicit debates with several economists and analysts on some of the most controversial questions about the causes of the crisis and the policies applied by the European Union. It presents the cases of Iceland, Greece, and Ireland, the countries that first declined into crisis in Europe, each of them in a different way. Iceland is a case study for reckless banking practices, Greece of reckless public spending, and Ireland of reckless household indebtedness. At least seven other countries, mostly from the peripheries of Europe, had similarly reckless banking and spending practices. In the center of the book are the economic and social causes of the crisis. Contemporary advanced capitalism became financialized, de-industrialized and globalized and got rid of the "straitjacket" of regulations. Solid banking was replaced by high-risk, "casino-type" activity. The European common currency also had a structural problem - monetary unification without a federal state and fiscal unification. The other side of the same coin is European hyper-consumerism. A new lifestyle emerged during two super-prosperous periods in the 1950s to 1960s, and during the 1990s to 2006. Trying to find an exit policy, the European Union turned to strict austerity measures to curb the budget deficit and indebtedness. This book critically analyzes the debate around austerity policy. The creation of important supranational institutions, and of a financial supervisory authority and stability mechanisms, strengthens integration. The correction of the euro's structural mistake by creating a quasi-fiscal unification is even more important. The introduction of mandatory fiscal rules and their supervision promises a long-term solution for a well-functioning common currency. These measures, meanwhile, create a two-tier European Union with a fast-track core. This book suggests that the European Union will emerge stronger from the crisis. This book will be of particular interest to students and researchers of economics, history, political science and international finance, but will also prove profitable reading for practitioners and the interested public. Book jacket.