One of the oldest questions is: why are some countries rich and some countries poor? Adam Smith famously answered that it was the division of labor (specialization) and trade in his book The Wealth of Nations. The more you study trade, however, the more complicated the answer becomes. I have been grappling with this question since the 1990s, as a student, and I still do not have a simple answer like Adam Smith. However, I think I have come up with a framework to understand how the economic history of the world developed and I have been teaching that global history in college as a professor since the 2010s.
This book by David Aslanian features the Armenian merchants of the New Julfa district of the city of Isfahan in modern-day Iran. They conducted long-distance trade between India and Europe and competed against some of the giant corporations of the day such as the Dutch East India Company. The experts of the old silk road trade competed against the new maritime trades well into the nineteenth century.
Drawing on a rich trove of documents, including correspondence not seen for 300 years, this study explores the emergence and growth of a remarkable global trade network operated by Armenian silk merchants from a small outpost in the Persian Empire. Based in New Julfa, Isfahan, in what is now Iran, these merchants operated a network of commercial settlements that stretched from London and Amsterdam to Manila and Acapulco. The New Julfan Armenians were the only Eurasian community that was able to operate simultaneously and successfully in all the major empires of the early modern world--both land-based Asian empires and the…
I’m a Professor of History at Johns Hopkins University who studies the history of France and the French empire. My research stretches from the age of Louis XIV through the French Revolution, exploring questions of political economy, capitalism, empire, the Enlightenment, and popular culture. At a moment when historical research is becoming increasingly specialized, my work builds bridges between political, economic, and cultural history.
Covo investigates long-neglected economic aspects of the Haitian Revolution. Beginning in the pre-revolutionary period, when the French called the colony of Saint-Domingue (present-day Haiti) the “Pearl of the Caribbean,” this deeply researched book spotlights the role Haiti played as a commodities hub during the American, French, and Haitian Revolutions. I find this book particularly important because it shows how imperial trade and racial capitalism defined the age of commercial republicanism.
The Age of Revolutions has been celebrated for the momentous transition from absolute monarchies to representative governments and the creation of nation-states in the Atlantic world. Much less recognized than the spread of democratic ideals was the period's growing traffic of goods, capital, and people across imperial borders and reforming states' attempts to control this mobility.
Analyzing the American, French, and Haitian revolutions in an interconnected narrative, Manuel Covo centers imperial trade as a driving force, arguing that commercial factors preceded and conditioned political change across the revolutionary Atlantic. At the heart of these transformations was the "entrepot," the island…
I am a Professor Emeritus of Classical and Byzantine History, and I was fascinated by Attila and the Hun and Genghis Khan from early childhood when I decided that I would become a historian. I set out to write the history of the Eurasian nomads from their perspective, and so convey their neglected history to a wider readership.
I recommend as a very readable account based on original research about the role played by Oghuz Turkish tribes in extending the range and importance of the international trade along the Silk Road between the tenth and eleventh centuries by breeding hybrid camels.
Bulliet has established his reputation as a scholar of vehicles and beasts of burden with his first groundbreaking book The Camel and the Wheel. While Bulliet’s arguments for an advent of colder climate as the stimulus for the breeding of the hybrid camels can be debated, his overall thesis is sound and explains why the Seljuk Turks emerged as the new military power in Eastern Islam in the eleventh century.
A boom in the production and export of cotton made Iran the richest region of the Islamic caliphate in the ninth and tenth centuries. Yet in the eleventh century, Iran's impressive agricultural economy entered a steep decline, bringing the country's primacy to an end. Richard W. Bulliet advances several provocative theses to explain these hitherto unrecognized historical events. According to Bulliet, the boom in cotton production directly paralleled the spread of Islam, and Iran's agricultural decline stemmed from a significant cooling of the climate that lasted for over a century. The latter phenomenon also prompted Turkish nomadic tribes to enter…
I first fell in love with the markets when in 1995, I made more on 1 stock investment than I did working all winter in the freezing cold as a ski instructor. I see it as the world’s greatest game and it has given me a life of unparalleled freedom that I am eternally grateful for. Trading has allowed me to pursue my interests and go deep into behavioral psychology, economics, neurobiology, and would never have had the breakthroughs I have had like the Bottega method for AI or the Myalolipsis technique for developing effortless, unshakable self-discipline if I hadn’t been an active trader.
I have been teaching and mentoring traders since 1999. In that time I have seen over and over again that success comes from the ability to maintain discipline and withstand emotional discomfort.
Everybody wants to buy a system or strategy “that just works”. Well, as somebody who has developed many great strategies I can tell you this harsh truth… The best system in the world is worthless if you can’t follow its rules.
This is the core reason why over 90% of traders fail, lose money, and quit in disgust.
This book is one of the best I have found on the subject of trading discipline and mindset. If you are at all serious about your success in the market…start here!
Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.
I’ve always wanted to know why people acquire the things they choose, how they get them, and what they do with them. For years, too, I’ve been fascinated by the period when modernity was being born, a time full of worldwide exploration, the founding of new nations and societies, and the invention of new ways of making, transporting, and distributing all sorts of goods and services. I discovered that studying consumers, consumer goods, and trade from the mid-seventeenth to the late eighteenth century was the perfect way to satisfy my curiosity. The Material Atlantic is my report about what I’ve learned.
I like a good wine (though Madeira isn’t one of my favorites). I like even more a book that tells me about wine—and about many other things that I had not previously connected to wine. That’s what Oceans of Wine does and does magnificently.
David Hancock is a pioneering scholar who has taught us to understand the Atlantic Ocean “world” as an interconnected space of exchanges that remade all the individuals and societies surrounding it. In this book, he shows how merchants in Britain, Portugal, and British North America transformed Madeira from a rather ordinary wine into a transatlantic bestseller.
Like most of my favorite historians, Hancock has dug up a treasure trove of unexplored sources to write a big story in a wholly new way.
This innovative book examines how, between 1640 and 1815, the Portuguese Madeira wine trade shaped the Atlantic world and American society. David Hancock painstakingly reconstructs the lives of producers, distributors, and consumers, as well as the economic and social structures created by globalizing commerce, to reveal an intricate interplay between individuals and market forces. Wine lovers and Madeira enthusiasts will enjoy Oceans of Wine, as will historians interested in food, colonial trade, and the history of the Atlantic region.
Using voluminous archives pertaining to wine, many of them previously unexamined, Hancock offers a dramatic new perspective on the economic and…
I'm a historian of slavery and the Atlantic slave trade who was trained with a PhD in History and a PhD in Art History, and who's interested in how slavery is memorialized in the public space as well as in the visual and material culture of slavery. I was born and raised in Brazil, the country where the largest number of enslaved Africans were introduced in the era of the Atlantic slave trade and that still today is the country with the largest Black population after Nigeria, the most populous African country. I believe that studying the history of the Atlantic slave trade and slavery helps us to remedy the legacies of anti-Black racism today.
Colleen Kriger illuminates the commercial exchanges between European and Africans in the Upper Guinea Coast, a region covering present-day Senegal, The Gambia, Guinea-Bissau, Guinea, Sierra Leone, and Liberia, between 1680 and 1715.
Explaining how these economic exchanges relied on existing West African trading routes, Kriger examines the role of England’s Royal African Company which lead the trade of enslaved Africans in the region.
West African commodity currencies such as bar iron, cloth, and cowry shells were carefully organized in bundles that became unities of measure and exchange in the Upper Guinea trade external trade in the late seventeenth and early eighteenth centuries.
She underscores the cultural norms underlying economic exchanges. For example, exchanging gifts to start and continue the trade was a central protocol. Kriger’s book ultimately shows that the trade in people was shaped by the creation and exchange of things.
A new era in world history began when Atlantic maritime trade among Africa, Asia, Europe, and the Americas opened up in the fifteenth century, setting the stage for massive economic and cultural change. In Making Money, Colleen Kriger examines the influence of the global trade on the Upper Guinea Coast two hundred years later-a place and time whose study, in her hands, imparts profound insights into Anglo-African commerce and its wider milieu.
A stunning variety of people lived in this coastal society, struggling to work together across deep cultural divides and in the process creating a dynamic creole culture. Kriger…
I’ve spent more than a decade exploring the historic roots of Asia’s modern political problems – and discovering the accidents and mistakes that got us where we are today. I spent 22 years with BBC News, including a year in Vietnam and another in Myanmar. I’ve written four books on East and Southeast Asia and I’m an Associate Fellow with the Asia-Pacific Programme at the London-based thinktank, Chatham House. I love breaking down old stereotypes and showing readers that the past is much more interesting than a series of clichés about ‘us’ and ‘them’. Perhaps through that, we can recognise that our future depends on collaboration and cooperation.
This is a jewel of a book. It takes a strange coincidence and weaves it into a wonderful tale of world history. It explores the lives of three Scotsmen, all called George Smith but not related, who traded in Asia during the eighteenth century, a crucial time for the development of the East India Company and ties between East and West. It really opens a window into the lives of these pioneers and brings this neglected history alive. In particular, it complicates the usual story of the East India Company by showing how it was a force for stability in trade with China and it was the ‘free traders’ taking inspiration from people like the economist Adam Smith back in London, who upset the relations and created the conditions for the nineteenth-century Opium War.
An illuminating account of global commerce in the eighteenth-century Indian Ocean world as seen through the lives of three Scottish traders
This book delves into the lives of three Scottish private traders-George Smith of Bombay, George Smith of Canton, and George Smith of Madras-and uses them as lenses through which to explore the inner workings of Britain's imperial expansion and global network of trade, revealing how an unstable credit system and a financial crisis ultimately led to greater British intervention in India and China.
I am a historian of empire and international relations, and have worked at universities in Britain and the Netherlands (where I was born). I’m fascinated by the ways in which empires have shaped – and continue to shape – the world we live in. Empire Ascendant was my first book, and I am currently working on a global history of the Dutch colonial empire.
Histories of Japan’s encounter with the West typically start from the premise that prior to its “opening” by the American Commodore Perry in 1853, Japan was a “closed” society that shunned contact with the outside world. This book, which explores the relationship between the Tokugawa shogunate and the Dutch East India Company (the VOC), presents a radically different story: one in which one of the world’s most ruthless commercial operators was forced to humble itself before the shogun. It’s an essential corrective to anyone who equates “world history” with the rise of the West.
The Dutch East India Company was a hybrid organization combining the characteristics of both corporation and state that attempted to thrust itself aggressively into an Asian political order in which it possessed no obvious place and was transformed in the process. This study focuses on the company's clashes with Tokugawa Japan over diplomacy, violence, and sovereignty. In each encounter the Dutch were forced to retreat, compelled to abandon their claims to sovereign powers, and to refashion themselves again and again-from subjects of a fictive king to loyal vassals of the shogun, from aggressive pirates to meek merchants, and from insistent…
In my writing, food is a means to explore culture and understand the world. I’ve been described as a ‘culinary detective’. I collect and create eclectic, evocative recipes from around the globe so I can travel from my kitchen when I'm back home in London. The Nutmeg Trail follows my multi-award-winning books, Fire Islands and Samarkand.
With a scholarly eye for detail, Keaye explores the history of the spice routes. The trade is at once mysterious and hard to trace yet also world-encompassing. It started more wars and sparked more discoveries than any other global exchange. This book elegantly covers over 3,000 years of human history and leaves the reader with much to think about.
An exotic saga with the tang of drama in every voyage, The Spice Route transports the reader from the dawn of history to the ends of the earth The Spice Route is one of history's great anomalies. Shrouded in mystery, it existed long before anyone knew of its extent or alignment. Spices came from lands unseen, possibly uninhabitable, and almost by definition unattainable; that was what made them so desirable. Yet more livelihoods depended on this pungent traffic, more nations participated in it, more wars were fought over it, and more discoveries resulted from it than from any other global…
The past fascinates me because it is strange and different to the world we live in today. That is why I prefer looking at earlier centuries than contemporary times because the distant past requires an extra effort on our part to unlock how people back then made sense of their world. When I read an old chronicle on how Indigenous people spent days traveling to meet acquaintances and even strangers, it piqued my interest. Did they really need to meet face-to-face? What did traveling mean to them? The books on the list below are attempts by historians to understand the travelers of the past.
Unwanted Neighbours is a captivating look at the frontier interactions between the Mughals and the Portuguese.
I like how Flores breaks the typical division between maritime and overland empires. The Mughal Empire was as much maritime as it was territorial, and the Portuguese maritime empire had an overland side to it as well.
The stories of cross-cultural relations in the book give texture to the past and help readers imagine the complexities of the characters in Mughal India.
In December 1572 the Mughal emperor Akbar arrived in the port city of Khambayat. Having been raised in distant Kabul, Akbar, in his thirty years, had never been to the ocean. Presumably anxious with the news about the Mughal military campaign in Gujarat, several Portuguese merchants in Khambayat rushed to Akbar's presence. This encounter marked the beginning of a long, complex, and unequal relationship between a continental Muslim empire that was expanding into south India, often looking back to Central Asia, and a European Christian maritime empire whose rulers considered themselves 'kings of the sea'.
