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Power and Plenty notes: The World Economy History & Theory (EC104) Warwick Economics R223,58   Add to cart

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Power and Plenty notes: The World Economy History & Theory (EC104) Warwick Economics

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Super in-depth notes about Power and Plenty in the book. Useful for anyone revising the book or studying world economic history EC104 at Warwick. Part of the Warwick Economics 1st year course. These notes helped me score first in the final 24-hour exam and in the first essay.

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  • December 3, 2023
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Power and Plenty Chapter Notes:


C1- Introduction: Geographical and Historical Background
World Trade/Introduction
- World trade in the current era is easy to define as we segregate trading entities by
either geographical location, climate, country or more.
- The long-run evolution of the pattern of world trade raises a host of problems
- Mauro (1961) proposed an Intercontinental model for the study of trade in the early
period of time. Recording flows of goods and precious metals over continents.
- Mauro’s model is adopted in some ways throughout this work, but a series of problems
arise with the division of continents/ north and south


Western Europe
- Historically a region shaped by the inheritance of legal, cultural, and administrative
institutions of the roman empire and the doctrine and practice of the roman catholic
church.
- During the reign of Otto, the Great (936-73) the German kingdom was the most
powerful state in Europe with military victories over Slavic tribes and the Hungarians.
- The main thrust of the Ottonians was their pressure and expansion on open plains to the
east. (Support of the church was a major technique they had to enhance their power at
the frontiers and duchies.)
- Notably, in the 10th century there was an adoption of the Roman C.C. by the Slavs, Polish
and Hungary. The Czechs also converted under German pressure.
- Despite its early ties to the Roman C.C by the 6th century England was effectively divided
into abt. ½ dozen contending Anglo-Saxon kingdoms.
- Anglo-Saxon kingdoms are converted to Christianity by 686. They prospered in the 8th
century through the expansion of trade in the North Sea.
Western Europe is a legacy of the roman empire, Roman Catholic Church, and Celtic &
Germanic tribes.
Purpose of the brief synopsis on the history of Western Europe:
- Western Europe emerges from a fusion of the legacy of the Roman Empire and Roman
C.C with that of the German, Celtic and Slavic tribes.
- The effort to create a standardized version of written Latin (Carolingian miniscule)
provided a means for information to be communicated, stored and, thus, a more
efficient diffusion of both religions and secular knowledge across W.E.

,Eastern Europe
- (Includes the states of the Russian Federation, Belarus, and Ukraine. Also, it includes the
Balkan Peninsula)
- Major formative cultural influences of the region were the Byzantine Empire, Greek
Orthodox Church, thus, the area of the present state of Turkey is also included in the
region.
- Between Kiev and the northern principality of Novgorod, the Rus maintained a
profitable monopoly of the trade routes linking the Baltic and the Black Sea.
- The Bulgarian Empire also played an important role in Eastern Europe, mounting a
challenge to Byzantium.
- Page 13/14 - highlights the importance to the Bulgarians and the Slavic Greek Orthodox
Church of gaining linguistic independence from the Greek of Byzantium itself (this was a
political asset of considerable value, and it constituted a big loss to Moravia)
North Africa and Southwest Asia: The Islamic World
- Classic Core of the Islamic world, it is the region known today as the M.E.
- The region’s most valuable asset was its location relative to other world regions,
particularly before European discoveries
- The rise of Islam in the Arabian Peninsula and the Arab conquest of the region was a
decisive event in world history -> 7th century.
- The Islamic world thrived economically even through intense conflict as new crops were
introduced from the east. -> led to the growth of large new towns like Cordoba, Cairo
etc.
- In the year 750 the empire was so extensive that it was impossible to establish an
administration.
o Instead of taking the logical approach of dispersing Arab rulers among the local
population to extract taxes for maintenance and support, Umar (634-44) chose
to concentrate the Arabs in fortified garrison cities, maintaining themselves out
of cash stipends.
- In 750A.D the Umayyad Caliphate is replaced by the Abbasids and receives a regime
change in the direction of a formal and centralized Persian model.
o Notable acceleration of economic growth due to less emphasis on conquest and
military operations.
- After the death of al-Mu'tasim in 842 the Abbasi regime had some brief period of
achievement, but the long-term trend was downward.
o This was due to the difficulty in raising and maintaining the revenue to preserve
the integrity of the state
o Sawad’s revenue generated fell from 100M dirhems/year to 30M dirhams/year
from the early Abbasids to the reign of Al-Muqtadir in 918

, - The decline of Baghdad did not necessarily mean that the whole Islamic World or even
the Abbasid lands underwent the same experience.
o The fiscal imbalance of the caliphs and their protectors made them vulnerable to
external shocks leading to the rise of a new power the Seljuk Turks in the 11 th C.
- The initial unity of the empire began to disintegrate due to dynastic quarrels, religious
schism and a natural tendency that more distant segments of the center went their
separate ways.
- Ibn Tulun made himself an independent ruler in 868 and was one of the most
enlightened rulers in Egypt’s history.
o “Improving irrigation, reforming taxation in the interest of the peasant, and
generally supporting economic development in his domain.”
o Revenue of 4M dinars/year, left 10M dinars to the treasury
- The western end of the Islamic World saw Spain at the height of its power by the turn of
the millennium.
- In 750, the violent overthrow of the Abbasids led Abd al-Rahman fleeing to N.A. His
ancestry won him a following of Arabs and Berbers which allowed him to take power
rapidly in Spain and set the capital in Cordoba.
o He maintained an efficient centralized bureaucracy
- The eleventh century can be seen as a critical turning point in the destinies of all 3
caliphates, the Abbasids in the east, the Umayyads of Cordoba in the west and the
Fatimids in the center.
o Abbasids lost power to the Iranians and eventually to the Seljuk Turks
o Andalusians were squeezed by Berbers in the Maghrib and by the Christians in
the north of the I. Peninsula
o Fatimids were confined to Egypt by their failures in Syria to the east and North
Africa to the west.
o Millennial dreams of a universal Ismaili Shia state were unrealized

Central (or Inner) Asia
- A vast region in the interior of the Eurasian landmass bounded to the south by towering
mountain ranges and to the north by the Arctic tundra.
- Primary ecological region in steppe and has been the home of the nomads since ever.
o The region is roughly 6000miles from east to west and slightly less than half that
from north to south.
- Interdependence between the nomadic and sedentary peoples is one of the most
persistent themes in history.
o Likewise, are its economic systems. There is a possibility of mutual gain through
the exchange of cereals for animals and animal products
- Central Asia has served for millennia as a crossroads traversed by the flow of goods,
technical inventions, art forms, and religions.

, o Taxing the caravans that crossed the region was usually more profitable than
simply plundering them.
o Even more was trading key commodities like the silk of China westwards if this
was possible by force of arms.
- Battle of the Talas River in 751
o Chinese were defeated when their Karluk Turkic allies switched sides to the
Arabs. (War occurred as the ruler of Tashkent, an Arab client, attacked Ferghana,
a Chinese client)
o Major consequence was that Chinese prisoners taken to Samarkand taught their
captors the art of making paper.
- During the disruptive An Lu Shan rebellion of 755, the auxiliaries of the Tang, the
Uighurs (I think the Tang is a Turkic tribal confederation like the Uighurs - Uighurs
became powerful in 744 and held sway to 840.) became increasingly dependent on the
Tang for military assistance.
o In return the tang extracted a high price in terms of the familiar exchange of
horses for silk
o Also pillaging Chinese cities and provinces during the suppression of the
rebellion
South Asia:
- India: distinctive culture arose out of a synthesis between the original Dravidian
inhabitants and the Aryan pastoral nomads.
o Local deposits of iron ore gave it an edge in weaponry and forests provided
timber as well as a supply of war elephants.
- Malabar coromandel coasts in the west and east respectively had trading contacts with
the Persian Gulf and the Red Sea
- Classical age of Indian civilization considered to be during 4 th to 6th century.
o The Guptas were a powerful empire throughout that era
o Age marked by material prosperity for the ruling class and remarkable
intellectual and cultural achievements
- Arab merchants settling on the western Malabar coast gave rise to the Mappila Muslim
community
o This would later play an important role in the spread of Islam through Asia as
well as trade
- Despite being devout Buddhists, immigrants brought the Indo-Aryan caste system with
them (operating in a looser more flexible way where the main distinction was in
agricultural and nonagricultural occupations)
o Ceylon was actively involved in political conflicts of Southern Indian dynasties
o They were also involved in trade conflicts with the Burma and Sumatran trading
state of Srivijaya

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