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008			250324042024GB eng
020			_a9781040231388 _qEA
037			_bTaylor & Francis _cGBP 52.99 _fBB
040			_a01
041			_aeng
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100	1		_aDennis O. Flynn
245	1	0	_aWorld Silver and Monetary History in the 16th and 17th Centuries
250			_a1
260			_aOxford _bRoutledge _c20241028
300			_a336 p
520			_bThis collection reflects the evolution of a revisionist argument. The price revolution was indeed a monetary phenomenon, but Professor Flynn's position is not based upon mainstream monetary theory. Silver mines financed the Spanish Empire and Japan's consolidation. Ming China was the world's primary silver customer; Europeans acted as middlemen globally, including massive trade over the Pacific via Manila. American mines nearly led to the destruction of nascent capitalism in Europe (reverse of arguments by Hamilton, Keynes, Wallerstein and others). Silver-market disequilibrium caused silver's gravitation toward China; bullion did not flow to Asia due to European trade deficits. Such conclusions stem from application of the Doherty-Flynn model developed in the mid-1980s. Economic theory is normally applied to economic history; in contrast, development of the Doherty-Flynn model was a response to inadequate conventional theory. Theory emerged from history; its application back to history yields startling historical reinterpretations.
999			_c8987 _d8987