New Zealand’s Long Depression

           The economic fate of Argentina, a foodstuff exporter supporting one of the richest populations just over a century ago, is well known. New Zealand’s late 19th and early 20th century history is similar in many respects. Like Argentina, faraway New Zealand was also exposed to the dramatic fluctuations of commodity prices and financial conditions intrinsic

Revolution Rentes

           Throughout the 18th century, French public finances teetered on the brink. The state then found itself in deep financial ruin within a few years of the beginning of the French Revolution, culminating in a default on the debt in 1796-97. With this, the outlook for the next century would hardly seem promising. The 19th century

Dialogus de Scaccario

           In the 12th century, a senior official in the English treasury wrote a book describing the inner workings of his institution, likely for the benefit of decades of successors. It is also of great help to historians. The Dialogus de Scaccario, or ‘Dialogue of the Exchequer’, is a window into the English treasury in the

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