The Early Modern European Economy Book Review
The Early Modern European Economy: A book review
In “The Early Modern European Economy”, Peter Musgrave attempts to express and formulate an underlying pattern from modern studies of the early modern period. The underlying focus of the book is the transformation of the feudal system in the early modern period to the economy of the nineteenth and twentieth century. Musgrave attempts to conjoin new works on the topic of the early modern European economy by analyzing the key structures and arguments in recent material. In doing this, Musgrave attempts to deviate from historical viewpoints by defining Europe and the early modern age, identifying turning points in economic development, and distinguishing this period from previous ones. “The Early Modern European Economy” reexamines our understanding of how the economy is shaped, and delves into new interpretations that suggest social and cultural aspects determine economic activity. This review takes the perspective of what the book gives is useful in understanding the development of the economic system in the early modern period. However, it lacks a clear foundation in explaining the exact cause of how the transformation started feudalism to capitalism. Each chapter will be looked at in turn.
Development and Change
Although modern economic principles provide useful tools for the historian, the focus must be on the theoretical structure if we truly wish to understand the past. Musgrave states that we need to look past traditional perspectives that modern economic principles can be applied in this period. The reasons for using a theoretical approach lie in the fact that economics are very closely related to the social sciences. A key figure in the foundations of economic development, Musgrave cites, belongs to Karl Marx. Separate from Marxism in the Soviet Union, he refers to Marx’s impact in stating the importance of the process of production. Factors such as what is produced, how it is produced,
In “The Early Modern European Economy”, Peter Musgrave attempts to express and formulate an underlying pattern from modern studies of the early modern period. The underlying focus of the book is the transformation of the feudal system in the early modern period to the economy of the nineteenth and twentieth century. Musgrave attempts to conjoin new works on the topic of the early modern European economy by analyzing the key structures and arguments in recent material. In doing this, Musgrave attempts to deviate from historical viewpoints by defining Europe and the early modern age, identifying turning points in economic development, and distinguishing this period from previous ones. “The Early Modern European Economy” reexamines our understanding of how the economy is shaped, and delves into new interpretations that suggest social and cultural aspects determine economic activity. This review takes the perspective of what the book gives is useful in understanding the development of the economic system in the early modern period. However, it lacks a clear foundation in explaining the exact cause of how the transformation started feudalism to capitalism. Each chapter will be looked at in turn.
Development and Change
Although modern economic principles provide useful tools for the historian, the focus must be on the theoretical structure if we truly wish to understand the past. Musgrave states that we need to look past traditional perspectives that modern economic principles can be applied in this period. The reasons for using a theoretical approach lie in the fact that economics are very closely related to the social sciences. A key figure in the foundations of economic development, Musgrave cites, belongs to Karl Marx. Separate from Marxism in the Soviet Union, he refers to Marx’s impact in stating the importance of the process of production. Factors such as what is produced, how it is produced,
Bibliography: Musgrave, Peter. The Early Modern European Economy. Vol. 1. 1 vols. New York, N.Y.: St. Martin 's Press, Scholarly and Reference Division, 1999.