Sheilagh Ogilvie is a professor of economic history at the University of Cambridge and a fellow of the British Academy. Her scholarship delves into the long-term evolution of institutions and their impact on economic growth, examining how societies have developed over centuries. Through her profound understanding of historical processes, she offers valuable insights into complex economic phenomena.
The book offers an in-depth exploration of commercial institutions, focusing on the evolution and significance of merchant guilds throughout history. It examines how these guilds shaped trade practices, economic structures, and social interactions, providing a comprehensive understanding of their impact on the development of commerce. Through meticulous research, the author presents a narrative that highlights the complexities and legacies of these influential organizations in the context of economic history.
Epidemics and Institutions from the Black Death to Covid
480 pages
17 hours of reading
In examining the impact of infectious diseases throughout history, the book explores how societies respond to the challenges posed by epidemics. It identifies three critical societal challenges: caring for victims, recovering from economic devastation, and the effects on institutions themselves. Through an analysis of eight centuries of epidemics across various regions, the author highlights the roles of six key social institutions—market, state, community, religion, guild, and family—in managing the costs of contagion. A multifaceted institutional approach is presented as essential for effectively addressing these challenges.
This analysis explores European craft guilds over eight centuries, from the Middle Ages to the Industrial Revolution, highlighting their controversial role in the economy. Guilds were often seen as efficient institutions ensuring quality and skills but also faced criticism for excluding competitors, manipulating markets, and stifling innovation. The book examines thousands of guilds that shaped European economies from 1000 to 1880, using vivid examples and economic reasoning to weigh their benefits against their costs. It features perspectives from guild masters, journeymen, apprentices, and customers, while also addressing the struggles of marginalized groups—women, migrants, Jews, and others—who sought work but were often targeted as competitors. While guilds provided essential services and regulated quality, they also restricted access to affordable goods and apprenticeships for outsiders, and blocked innovations that threatened their interests. Ultimately, guilds thrived not because they corrected market failures or served the public good, but because they benefitted members and political elites. By delving into the inner workings of guilds across centuries, the analysis reveals how exclusive networks and privileged institutions can shape the economy, for better or worse.
