The Speed of the Financial Revolution: Evidence from Hoare’s Bank

Finance is important for development, yet the onset of modern economic growth in Britain lagged the British financial revolution by over a century. We present evidence from a new West-End London private bank to explain this delay. Hoare’s Bank loaned primarily to a highly select and well-born clientele, although it did not discriminate against “unknown” borrowers in the early 18th century. It could not extend credit more generally because of government restrictions (usury limits) and policies (frequent wars). Britain’s financial development could have aided growth substantially, had it not been for the rigidities and turmoil introduced by government interference.

Federico II de Prusia : el rey flautista

En un momento histórico en el que las tendencias musicales en Europa estaban a medio camino entre el Barroco y el Clasicismo, confluyeron en la corte de Federico el Grande una serie de músicos que trabajaron para el rey prusiano y que compusieron una gran cantidad de música para flauta, instrumento que él tocaba. La actividad musical del Berlín de esos años se convirtió así en relevante para el mundo flautístico. Profundizaremos en este trabajo en la figura del monarca, en la relación de éste con sus músicos y en las características principales de la música de la segunda mitad del siglo XVIII.

Els baixonets a Catalunya : una aproximació organològica, funcional i del repertori : el fons musical de Canet de Mar

Aquest treball fa un estudi dels baixonets a Catalunya des de les perspectives organològica, funcional i del repertori. A partir de les informacions aportades pels instruments originals, pels tractats i per estudis especialitats, es defineixen una tipologia instrumental pròpiament hispànica, i unes funcions principalment relacionades amb la música vocal religiosa de mitjans del segle XVI a mitjans del segle XVIII. Posteriorment, es realitza un estudi de la música amb baixonet a la localitat de Canet de Mar. A partir del treball de camp al seu arxiu parroquial, es compilen vuit obres específiques per a baixonet, se'n transcriuen alguns manuscrits, i se'n defineixen els principals aspectes formals i funcionals. El cas de Canet de Mar es pot considerar com un exemple més o menys representatiu de la pràctica instrumental i del repertori específic del baixonet a Catalunya a finals del segle XVII i començaments del segle XVIII.

Debt sustainability in historical perspective: The role of fiscal repression

This article examines the debt history of two contenders for European hegemony: 16th-centurySpain and 18th-century Britain. We analyze their fiscal behavior using measures of overborrowingand fiscal policy functions. Our results suggest that stringency was not key for Britain ssuccess in avoiding default. Instead, fiscal repression allowed the United Kingdom to borrowat below-market rates, thereby outspending its continental rivals.

Why England? Demand, growth and inequality during the Industrial Revolution

Why was England first? And why Europe? We present a probabilistic model that builds on big-push models by Murphy, Shleifer and Vishny (1989), combined with hierarchical preferences. The interaction of exogenous demographic factors (in particular the English low-pressure variant of the European marriage pattern)and redistributive institutions such as the old Poor Law combined to make an Industrial Revolution more likely. Essentially, industrialization is the result of having a critical mass of consumers that is rich enough to afford (potentially) mass-produced goods. Our model is then calibrated to match the main characteristics of the English economy in 1750 and the observed transition until 1850.This allows us to address explicitly one of the key features of the British IndustrialRevolution unearthed by economic historians over the last three decades the slowness of productivity and output change. In our calibration, we find that the probability of Britain industrializing is 5 times larger than France s. Contrary to the recent argument by Pomeranz, China in the 18th century had essentially no chance to industrialize at all. This difference is decomposed into a demographic and a policy component, with the former being far more important than the latter.

Entrepreneurial structure of the mercantile company in pre-industrial Catalonia

The mercantile company was the basic form of enterprise in pre-industrial Catalonia. The aim of this paper is to study the formation and development of the mercantile companies in Barcelona whose end was the wholesale and retail sale of textiles in the botigues de teles (textile retail shops) throughout the eighteenth century. These firms were officially registered before a notary and their deeds reveal how these establishments were administered and managed.The study covers a sample of 121 mercantile companies, and the articles and documentation that were put into effect by 32 notaries who were active in Barcelona in the 18th century have been consulted in their entirety. From an initial selection of documentation, a total of 228 deeds registering companies have been found, 107 of which (47%) relate to the creation of companies whose various activities were centred in taverns, textile manufacturing, braiding.... While the 121 companies, which make up our sample and which account for 53% of the deeds registered with the notaries mentioned above, focused exclusively on the management of textile retail shops located in the commercial heart of the city. Thus one point of interest that the documentation reveals is that the majority of the mercantile companies registered by Barcelona notaries throughout the 18th century were establishments which traded in textiles. The first part of the article focuses on the structural characteristics of these enterprises, the number and socio-professional status of the partners and the extent of each partner s involvement in the administration and management. The second part of the article examines the capital investment made by each partner, their rights and obligations agreed on, the sharing out of profits and possible losses and the duration of the companies. The final aim of the paper is to highlight the evolution of these companies through one specific case.

Sweet diversity: Colonial goods and the rise of European living standards after 1492

When did overseas trade start to matter for living standards? Traditional real-wage indices suggest that living standards in Europe stagnated before 1800. In this paper, we argue thatwelfare rose substantially, but surreptitiously, because of an influx of new goods as a result ofoverseas trade. Colonial luxuries such as tea, coffee, and sugar transformed European diets afterthe discovery of America and the rounding of the Cape of Good Hope. These goods became household items in many countries by the end of the 18th century. We use three different methodsto calculate welfare gains based on price data and the rate of adoption of these new colonialgoods. Our results suggest that by 1800, the average Englishman would have been willing to forego 10% or more of his income in order to maintain access to sugar and tea alone. These findings are robust to a wide range of alternative assumptions, data series, and valuation methods.

Censura gubernativa, Iglesia e inquisición en el siglo XVIII

Government censorship in Eighteenth Century Spain was another means of the Spanish Enlightenment policy. Until mid-century both powers of Church and State were balanced, from Charles III’s reign on the censorship of the Consejo de Castilla tried to control and restrict not only the traditional power of the Inquisition, but also the intellectual output of the country, either ideological -criticism on the Crown’s policy- or cultural-publishing religious Works. It is important to notice that many members of the elergy collaborated with the State in that task; and also that, after the French Revolution, the Inquisition regained its previous role. In the last decade of the Seventeenth century the irreconcilable clash between the advocates and the critics of the Inquisition became evident

¿Activos desde cuándo? la edad de acceso al mercado de trabajo en la España del siglo XVIII

Este trabajo trata sobre la edad a la que niños y niñas accedían al trabajo remunerado en la España del siglo XVIII. Utilizando como fuente los Memoriales del Catastro de Ensenada (1751-1753), se propone la edad de diez años como edad media de acceso, a partir de la cual se puede calcular la tasa de actividad. La Mancha era una región rica en industria rural, sobre todo de manufacturas textiles, que abastecían al mercado madrileño, el de otras ciudades e incluso al colonial, y que generaban una fuerte demanda de trabajo femenino. Esta estructura productiva explica por qué las niñas se incorporaban al trabajo remunerado antes que los niños, por qué eran escolarizadas desde muy pequeñas en las ‘escuelas de labor’ y no en las escuelas de primeras letras como los niños, y por qué, en definitiva, sus tasas de alfabetización un siglo después eran inferiores a la ya muy baja media femenina española. En la España del siglo XVIII mujeres y niñas estaban masivamente empleadas en las manufacturas, sobre todo textiles, como ocurría en gran parte de Europa. Entender y contabilizar el trabajo realizado por mujeres y niñas, mucho más difundido de lo que se cree habitualmente, y centrado en manufacturas y servicios, transforma nuestra visión de la estructura de la actividad en la España pre-industrial, normalmente identificada con el trabajo agrícola y ganadero.

How the West "invented" fertility restriction

We analyze the rise of the first socio-economic institution in history that limited fertility ? long before theDemographic Transition. The "European Marriage Pattern" (EMP) raised the marriage age of women andensured that many remained celibate, thereby reducing childbirths by up to one third between the 14thand 18th century. To explain the rise of EMP we build a two-sector model of agricultural production ?grain and livestock. Women have a comparative advantage in the latter because plow agriculture requiresphysical strength. After the Black Death in 1348-50, land abundance triggered a shift towards the landintensivepastoral sector, improving female employment prospects. Because women working in animalhusbandry had to remain unmarried, more farm service spelled later marriages. The resulting reductionin fertility led to a new Malthusian steady state with lower population pressure and higher wages. Themodel can thus help to explain the divergence in income per capita between Europe and Asia long beforethe Industrial Revolution. Using detailed data from England after 1290, we provide strong evidence forour mechanism. Where pastoral agriculture dominated, more women worked as servants, and marriageoccurred markedly later. Overall, we estimate that pastoral farming raised female ages at first marriage bymore than 4 years.

La escenificación del poder: el marqués de Castelldosrius, primer virrey Borbón del Perú (1707-1710)

The change in dynasty brought with it a series of transformations to Peruvian viceroyalty political culture. Analysis is made of the government of the Marquis of Castelldosrius (1707-1710) who, in his eagerness to increase a meagre patrimony, was to attenuate his conflicts with the Creole sectors and the Consulate, with a style of politics that was characterised by courtly and cultural uses that included traditions that were in vogue in the courts of Louis XIV and in his native Catalonia

Carles Ros i Hebrera. Col·loqui nou, graciós i entretengut, on se referixen les festes celebrades en la ciutat de València a la proclamació de son rei i senyor nòstron Fernando Sext, que Déu guard, en los dies 19, 20 i 21 d'agost del present any 1746 : Edició crítica i estudi

En aquest treball es presenta una edició crítica del col·loqui sobre la proclamació del rei Ferran VI. També s'explica la relació dels col·loquis i el teatre breu, temes, llocs de representació, destinatari final i la funció dels seus creadors i recitadors anomenats col·loquiers. A més, s'explica el context sociopolític en què es varen concebre i unes pinzellades sobre el seu autor i la seua producció literària en català.

Una pintura d'Antoni Viladomat i Manalt (1678-1755) a Manresa : l'Assumpta de Santa Maria de l'Alba

This painting with an exceptional iconography of the Assumption of the Virgin with All the Saints, was saved from a altarpiece in the church of Santa Maria de l'Alba in Manresa, which was burnt during the Spanish Civil War. The article attributes this painting to Antoni Viladomat i Manalt (1678-1755), one of the most relevant figures in the Catalan artistic scene in the 18th century, and it dates it to the latter years of his extensive artistic career. An analysis of the work shows that the Catalan painter incorporated some figurative elements that he borrowed from an engraving of the Swiss engraver, Jakob Frey (1681-1752), interpreted from a canvas of the Italian painter Sebastiano Conca (1680-1764). This helps to relate the canvas of the Barcelona painter-based on his previous figurative work with high Roman baroque- to the new proposals of the so-called Roman barrochetto. In addition the study hopes to offer the reader an artistically cultural view of Antoni Viladomat, openly concerned by the novelties that constantly reached Catalonia by means of the engravings

El poble d'Ollers i el veïnat d' Espàsens, a final dels segle XVIII

Article sobre l' estructura social del poble d' Ollers i el veïnat d' Espàsens a finals dels segle XVIII

El Segle de Pierre Vilar

Tot i que els interessos de Pierre Vilar, en el curs de la seva llarga vida professional, van ser molt més amplis, em penso que no és cap exageració afirmar que el segle XVIII fou el seu segle. En tot cas, el que segur que no és exagerat és dir que els investigadors catalans sobre el segle XVIII han estat aquells sobre qui la influència de l’obra de Vilar més s’ha fet sentir. Aquest fet és fàcil d’explicar. En primer lloc, perquè va ser la documentació del segle XVIII la que Pierre Vilar va explorar i treballar de primera mà en els arxius i la que va alimentar el miler de pàgines dels volums tercer i quart –segon i tercer si pensem en l’edició francesa original– de la seva voluminosa tesi doctoral. En segon lloc, perquè en aquest segle Vilar va cercar-hi els fonaments de les societats contemporànies. De fet, i no podia ser d’altra manera tenint en compte el mètode d’anàlisi històrica de Pierre Vilar, la recerca empírica sobre el segle XVIII català va fer-li plantejar el “problema” històric dels “fonaments econòmics de les estructures nacionals”