Journal of Economic Literature Vol. 56 No. 4 2018
Finance and Economic Development in the Very Long Run: A Review Essay
Abstract
I review William N. Goetzmann’s Money Changes Everything: How Finance Made Civilization Possible. This magnificent book offers insightful coverage of more than 5,000 years of human history under the theme of “how finance made civilization possible.” I reinterpret its main hypotheses in the context of recent economic research on finance and development, and also compare them with other economic historians’ views. I suggest that further examinations of the historical facts in the book could guide us in rethinking financial regulation.
- DOI
- 10.1257/jel.20171407
- Volume
- 56
- Issue
- 4
- Pages
- 1577-1586
- Language
- en
- Sources
- openalex crossref