This dissertation is a study of the Jamaican sugar economy and slave society on the eve of the abolition of the British slave trade.This dissertation was completed in the Department of History at the university of Minnesota (December 1999), under the direction of Professor Russell R. Menard. Published work based on this dissertation can be found in Ryden, “Does Decline” and “‘One of the Fertilest pleasentest Spotts.‘” Its most significant finding focuses on the “Decline Thesis,” as laid out by Eric Williams more than 50 years ago in his classic work, Capitalism and Slavery. Slavery, according to Williams, was doomed to failure because it encouraged planter absenteeism and plantation mismanagement, resulting in the tendency to overproduce. Thus, planters were increasingly saddled with steadily rising input costs while facing falling revenue. Williams explained that the first cracks in the sugar economy appeared with the loss of the North American colonies. From this point on, the British West Indian planters saw a fall in their profits. This late-eighteenth-century decline of the slave mode of production culminated in Parliament abolishing the slave trade in an attempt to cut production levels and thereby revive West Indian fortunes.Williams, Capitalism.

In this article I develop a taxonomy of financial practices based on whether financial activity is intended to fund new capital investment or to create new financial structures to accommodate planned changes in the structure of an industry's existing capital stock. The taxonomy is then applied to the financial development of the U.S. sugar-refining industry between 1875 and 1905. The taxonomy provides an explanation of the rise of the large, widely held industrial corporation in the United States that is more consistent with the historical record than are the conventional “financial strain” or “asset liquidation” hypotheses.

Written by four leading economic historians of Indonesia from three continents, this book is an excellent account of the emergence of the Indonesian economy in the twentieth century from what was a cluster of disparate economic regions at the beginning of the nineteenth century. Using an innovative and, in the context of Indonesia, highly appropriate theme, the authors identify three fundamental forces that shaped the emergence of the Indonesian national economy: successive waves of globalization (and dislocation), state formation, and economic integration. The book is admirably successful in fulfilling its claim, not an easy task given the volume of literature that had to be mastered and put into perspective in order to comprehensively describe this process.

In an earlier issue of this Journal, M. E. Sushka criticized the methodology of such “revisionists” as Peter Temin in their evaluation of the impact of the Bank War on the Jacksonian economy. Sushka characterizes the work of the revisionists as the “use of descriptive statistical tools in an attempt to analyze developments empirically.” Sushka, on the other hand, applies “modern econometric techniques” to “an economic framework drawn from contemporary monetary and macroeconomic theory.”