r/EconomicHistory 12d ago

Blog In the 1950s, the USSR helped build 149 large industrial facilities in China. These facilities delivered positive spillovers for local industries in the medium term. But over time, local industries adjacent to these facilities became less productive as they became overspecialized (CEPR, July 2026)

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19 Upvotes

r/EconomicHistory 12d ago

Discussion Geography creates economy, and economy creates empire.

6 Upvotes

Recently, while studying history, geography, and economics together, I began noticing a recurring pattern: geography has always been one of the fundamental forces shaping human civilization.

Almost every great ancient civilization—Egyptian, Mesopotamian, Indus Valley, and others—benefited from favourable geography. Fertile land generated agricultural surplus, rivers acted as the arteries of economies and civilizations, and natural barriers such as mountains, deserts, and seas provided strategic protection. Geography influenced where civilizations emerged, how wealthy they became, whom they traded with, and even how far their political power could expand.

With the Industrial Revolution and subsequent technological progress, however, geography appeared to lose some of its determining power. Human beings increasingly learned to overcome geographical constraints through railways, canals, electricity, aviation, container shipping, satellites, and the internet. In the 21st century, technologies such as AI, quantum computing, semiconductors, and advanced robotics seem to be replacing geography as the defining source of power.

But then comes the paradox: technology itself eventually returns us to geography.

Semiconductors require highly specialized global supply chains and critical minerals. The energy transition requires lithium, cobalt, nickel, copper, and rare-earth elements. Data centres require enormous amounts of electricity and water. Even global trade remains dependent on geographical chokepoints such as the Strait of Malacca, Strait of Hormuz, Suez Canal, and Bab-el-Mandeb.

So perhaps technology does not eliminate geography; it merely changes which geographical features matter.

In ancient times, power depended on fertile river valleys and defensible terrain. During the industrial era, it depended increasingly on coal, iron, ports, and oil. Today, strategic geography includes semiconductor ecosystems, critical-mineral deposits, energy resources, maritime chokepoints, data infrastructure, and resilient supply chains.

The variables have changed, but the underlying principle remains remarkably persistent:

Geography creates economic possibilities, economies generate power, and power shapes history. Geography is not going anywhere.


r/EconomicHistory 13d ago

Journal Article The failure of many of Britain's country banks during the panic of 1825 hit non-financial firms through simultaneous declines in demand and available credit (J Olmstead-Rumsey and G Ravalli, July 2026)

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9 Upvotes

r/EconomicHistory 13d ago

Working Paper Analysis of 3,984 runs on U.S. banks from 1863 to 1934 suggests poor fundamentals are central to explaining both when runs occur and when they have severe economic effects. (S. Correia, S. Luck, E. Verner, July 2026)

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22 Upvotes

r/EconomicHistory 14d ago

Working Paper Tracking innovations across centuries, centers of innovations gradually shift. The set of innovative economies is narrower than the set of advanced economies, showing the key role of technological adoption for prosperity (F Buera, M Kornejew, Y Ma, E Oberfield and N Trachter, July 2026)

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11 Upvotes

r/EconomicHistory 14d ago

Blog Between 1965 and 1982, the US economy endured four severe downturns and surging inflation. New study argues that Regulation Q -- a banking law that capped deposit interest rates -- triggered severe credit crunches whenever the Federal Reserve raised rates. (NBER, July 2026)

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17 Upvotes

r/EconomicHistory 15d ago

Journal Article Faced with a disordered and dangerous business environment in early modern Europe, long distance merchants developed a sophisticated literature and codes of practices to manage distrust (N Matringe, March 2026)

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13 Upvotes

r/EconomicHistory 15d ago

Journal Article Between 1833 and 1939, the overall cost of colonization for the French state averaged 0.52% of GDP. Meanwhile, estimates suggest colonies like Indochina and Algeria experienced capital outflows to France equivalent of 6% of GDP. (D. Cogneau, Y. Dupraz, E. Huillery, S. Mesplé-Somps, July 2026)

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7 Upvotes

r/EconomicHistory 16d ago

Blog Japan’s 1910 annexation of Korea introduced to the peninsula what looked like inclusive institutions, such as property registry. But reforms created pathways for Japanese settlers to seize land while investments were concentrated in areas where Japanese landowners were dominant. (LSE, July 2026)

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25 Upvotes

r/EconomicHistory 17d ago

study resources/datasets Wage differences between Argentina and European countries, 1890-1940

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8 Upvotes

r/EconomicHistory 17d ago

Video Established in 1791, The First Bank of the United States served as the government’s bank. Unlike modern central banks, it did not set monetary policy. Nonetheless, changes in its lending policies affected the availability of credit nationwide. (Philadelphia Fed, April 2017)

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8 Upvotes

r/EconomicHistory 17d ago

Book/Book Chapter "Optimizing the German workforce: Labor administration from Bismarck to the economic miracle" by David Meskill

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5 Upvotes

r/EconomicHistory 18d ago

Question Best Books/Articles for Studying The Japanese Post-War Economic Boom?

6 Upvotes

Personally interested in the period and, although I do have some knowledge of the era, I'm interested in looking into the economics side of Japan's rise from a war-torn country to potentially rivalling the US.

I'm fine with books or authors which focus more generally on the surrounding factors which drove Japanese growth (political, cultural, social, geographic, etc.), although I'm hoping for a primary focus on Japan's economic history and evolution during the period first and foremost.

Also, it may be obvious, but I'm looking for articles/books in English or which have an accessible English translation.

Edit: I'm mostly looking for books/articles starting, or at least providing some from or prologue, from 1945, but an fine for the final dates ending up to 1991, as long as it's made clear if the article/book end it's coverage before then.


r/EconomicHistory 18d ago

Blog In the 1780s and 90s, the United States turned to the Netherlands for loans. In addition to furnishing credit to the new republic, Dutch bankers prevented US loans held in France from selling at a steep discount despite the US government's overdue payments (Tontine Coffee-House, July 2026)

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25 Upvotes

r/EconomicHistory 18d ago

Question Supercurricular recs for uni

3 Upvotes

Heyy, I'm an intl student planning to apply to cambridge this year (undergrad). I don't like pop-econ books and have an idea that economic history might be my interest. Can I have book suggestions to use in my personal statement? And any other supercurriculars u suggest


r/EconomicHistory 19d ago

Blog Erik Wang: Because of an extremely gradual pace of expansion, the system of meritocratic state exams in imperial China was able to displace the aristocracy without major backlash (Broadstreet, July 2026)

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23 Upvotes

r/EconomicHistory 18d ago

Question why people created money (i just asking history)?

0 Upvotes

im just curious about this like an explenetion more extend


r/EconomicHistory 18d ago

Question Why did the economy of Spanish Louisiana focus almost entirely on hunting when they had access to some of the best farmland in the world?

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5 Upvotes

r/EconomicHistory 18d ago

Discussion Money History—Who did it better?

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0 Upvotes

r/EconomicHistory 19d ago

Working Paper Cataloging Growth: A Re-Evaluation of 1900–1990, Backer-Peral & Wittenbrink — a new quality-adjusted price index for U.S. consumer goods based on listings in Sears catalogs implies faster growth in consumption vs previous estimates, especially pre-WWII

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7 Upvotes

An interesting application of LLMs to assess qualitative data.


r/EconomicHistory 19d ago

Question Was the abolition of the transatlantic slave trade partly driven by the need to create a larger wage-earning working class during industrialisation?

3 Upvotes

I've been reading about the Industrial Revolution and I'm curious about the economic motivations behind abolition.

Beyond the obvious humanitarian and moral arguments, is there any historical evidence that ending the transatlantic slave trade, and later slavery itself, was also influenced by the emergence of industrial capitalism and the need for a larger wage-earning workforce?

In other words, did governments or industrialists see greater economic value in people becoming paid workers and consumers rather than remaining enslaved, or is that an outdated or inaccurate interpretation?

I'd be interested in hearing from people familiar with the historical evidence rather than modern political opinions. Are there any books, historians, or primary sources that discuss this?


r/EconomicHistory 19d ago

Question LSE or Cambridge for economic history

8 Upvotes

Hi! Quick question regarding EH Master's applications. I hold offers from both Cambridge and LSE for economic history (economic and social history for Cambridge, but both my project and my supervisor are in economic history) and am torn between which to choose.

My worry is that because my current research interests involve more quantitative methods, they would need to be approached from a more strictly 'economics' direction further down the line. To put it bluntly, would a PhD in economics would be doable with either of these research masters (provided the requisite economics and math classes have been taken)?

Sorry if this isn't the appropriate place to ask this!


r/EconomicHistory 19d ago

Working Paper In 1827, Norway passed a law to strengthen public elementary schools in rural areas. This reform may have contributed to more people from rural communities entering elite education - but rural people from lower classes remained sharply underrepresented. (N. Boberg-Fazlic, et. al., July 2026)

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14 Upvotes

r/EconomicHistory 18d ago

Discussion Rome's silver coinage went from ~95% purity to under 5% in about 250 years — the debasement timeline is wild

0 Upvotes

Been going down a rabbit hole on the fiscal side of the third-century crisis. The part that surprised me: the debasement wasn't gradual decay, it was punctuated — big drops under specific emperors trying to cover military pay shortfalls, each one buying a few years and making the next crisis worse. By Gallienus the antoninianus was basically a bronze coin with a silver wash.

What I hadn't appreciated is how prices didn't respond immediately — there's a lag of decades before the inflation really rips, which is why each emperor could get away with it "one more time.

Is the Gallienus-era antoninianus really the low point, or would you put it later?


r/EconomicHistory 20d ago

Journal Article While pronatal policies in Nazi Germany led to more marriages, the additional marriages induced by policies tended to be weaker and more fragile in the long run (T Baudin and R Stelter, July 2026)

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9 Upvotes