|
Financial Revolution
The Financial Revolution was a set of economic and financial reforms in Great Britain after the Glorious Revolution in 1688 when William III invaded England. The reforms were based in part on Dutch economic and financial innovations that were brought to England by William III. New institutions were created: a public debt (first government bonds were issued in 1693) and the Bank of England (1694). Soon thereafter, English joint-stock companies began going public. A central aspect of the financial revolution was the emergence of a stock market. Dutch-influenced changes in the economy and parliamentarian politics The elements of the financial revolution rested basically on the financial techniques developed in the Netherlands: the bill of exchange, both foreign and inland, which as a negotiable instrument became part of the medium of exchange; transferable shares in the permanent capital stock of corporations that were traded in an active secondary market; and perpetual, gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England Charter Sealing 1694
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Parliament
The Parliament of England was the legislature of the Kingdom of England from the 13th century until 1707 when it was replaced by the Parliament of Great Britain. Parliament evolved from the great council of bishops and peers that advised the English monarch. Great councils were first called Parliaments during the reign of Henry III (). By this time, the king required Parliament's consent to levy taxation. Originally a unicameral body, a bicameral Parliament emerged when its membership was divided into the House of Lords and House of Commons, which included knights of the shire and burgesses. During Henry IV's reign, the role of Parliament expanded beyond the determination of taxation policy to include the "redress of grievances", which essentially enabled English citizens to petition the body to address complaints in their local towns and counties. By this time, citizens were given the power to vote to elect their representatives—the burgesses—to the House of Commons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Military Revolution
The Military Revolution is the theory that a series of radical changes in military strategy and tactics during the 16th and 17th centuries resulted in major lasting changes in governments and society. The theory was introduced by Michael Roberts (historian), Michael Roberts in the 1950s as he focused on Swedish Empire, Sweden (1560–1660) searching for major changes in the European way of war caused by the introduction of portable firearms. Roberts linked military technology with larger historical consequences, arguing that innovations in tactics, drill and doctrine by the Dutch and Swedes (1560–1660), which maximized the utility of firearms, led to a need for more trained troops and thus for permanent forces (Standing army, standing armies). Armies grew much larger and more expensive. These changes in turn had major political consequences in the level of administrative support and the supply of money, men and provisions, producing new financial demands and the creation of new g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Party Politics
''Party Politics'' is a peer-reviewed academic journal that publishes papers in the field of political science. The journal's editor is Paul Webb of the University of Sussex, UK. It has been in publication since 1995 and is currently published by SAGE Publications. Scope ''Party Politics'' provides a written forum for the analysis of political parties, including their historical development, structure, policy programmes, ideology, electoral and campaign strategies as well as their role within the various national and international political systems of which they are a part. It is a bi-monthly, peer-reviewed journal dedicated to the study of political science. Abstracting and indexing ''Part Politics'' is abstracted and indexed in, among other databases: SCOPUS, and the Social Sciences Citation Index. According to the ''Journal Citation Reports'', the journal has a 2017 impact factor The impact factor (IF) or journal impact factor (JIF) of an academic journal is a type o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Stasavage
David Stasavage is an American political scientist known for his work on democracy and political economy. He is the Dean for the Social Sciences and the Julius Silver Professor at New York University's Department of Politics and an affiliated professor in NYU's School of Law. He was elected to the American Academy of Arts and Sciences in 2015. Education and early career Stasavage earned a bachelor's degree from Cornell University in 1989, then obtained his doctorate from Harvard University in 1995. He subsequently went to Europe, working successively for the World Bank, the Organisation for Economic Co-operation and Development, the Centre for the Study of African Economies, and the Bank of England. Academic career Stasavage began teaching as a faculty associate within the London School of Economics in 1999. By 2005, his final year at the LSE, Stasavage had acquired the rank of reader. Stasavage returned to the United States in 2006, as an associate professor at New York Unive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Douglass North
Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. Along with Robert Fogel, he received the Nobel Memorial Prize in Economic Sciences in 1993. In the words of the Nobel Committee, North and Fogel "renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change." North was an influential figure in New Institutional Economics, which emphasizes the impact of institutions on economic behaviors and outcomes. North argued, "Institutions provide the incentive structure of an economy; as that structure evolves, it shapes the direction of economic change towards growth, stagnation, or decline." Rational and wealth-maximizing individuals lack complete information and have difficulties monitoring and enforcing agreements. Institutions can provide information and reduce transaction costs, thus encouraging economic activity. Biography Dou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kingdom Of France
The Kingdom of France is the historiographical name or umbrella term given to various political entities of France in the Middle Ages, medieval and Early modern France, early modern period. It was one of the most powerful states in Europe from the High Middle Ages to 1848 during its dissolution. It was also an early French colonial empire, colonial power, with colonies in Asia and Africa, and the largest being New France in North America geographically centred around the Great Lakes. The Kingdom of France was descended directly from the West Francia, western Frankish realm of the Carolingian Empire, which was ceded to Charles the Bald with the Treaty of Verdun (843). A branch of the Carolingian dynasty continued to rule until 987, when Hugh Capet was elected king and founded the Capetian dynasty. The territory remained known as ''Francia'' and its ruler as ('king of the Franks') well into the High Middle Ages. The first king calling himself ('King of France') was Philip II of Fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rates
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income". The borrower wants, or needs, to have money sooner, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * the term to mat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bondholders
In finance, a bond is a type of Security (finance), security under which the issuer (debtor) owes the holder (creditor) a debt, and is obliged – depending on the terms – to provide cash flow to the creditor (e.g. repay the principal (i.e. amount borrowed) of the bond at the Maturity (finance), maturity date and interest (called the coupon (bond), coupon) over a specified amount of time.) The timing and the amount of cash flow provided varies, depending on the economic value that is emphasized upon, thus giving rise to different types of bonds. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and Share capital, stocks are both Security (finance), securities, but the major difference between the two is that (capital) stockholders h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Borrowing
A country's gross government debt (also called public debt or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to stimulus measures during the Great Recession, and the COVID-19 recession. Governments may take on debt when the government's spending desires do not match government revenue flows. Taking deb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constitutional Monarchy
Constitutional monarchy, also known as limited monarchy, parliamentary monarchy or democratic monarchy, is a form of monarchy in which the monarch exercises their authority in accordance with a constitution and is not alone in making decisions. Constitutional monarchies differ from absolute monarchies (in which a monarch is the only decision-maker) in that they are bound to exercise powers and authorities within limits prescribed by an established legal framework. A constitutional monarch in a parliamentary democracy is a hereditary symbolic head of state (who may be an emperor, king or queen, prince or grand duke) who mainly performs representative and civic roles but does not exercise executive or policy-making power. Constitutional monarchies range from countries such as Liechtenstein, Monaco, Morocco, Jordan, Kuwait, Bahrain and Bhutan, where the constitution grants substantial discretionary powers to the sovereign, to countries such as the United Kingdom and other Com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
