The first modern economy

About this book

A comprehensive economic history of the Netherlands during its rise to European economic leadership, Golden Age, and subsequent decline (1500-1815), which argues that the Dutch economy was the first modern economy. The authors defend their position with detailed analyses using simple economic theory of its major economic sectors: agriculture, fishing, trade, industry, and finance, as well as investigations of its social structure and macro-economic performance. The Dutch pioneered several aspects of economic modernization: a highly productive agriculture, a technically advanced industry, modern public finance, the capital market, and the modern corporation - the Dutch East India Company. Dutch economic history is placed in its European and world context. Comparisons are made with other European countries, and Dutch intercontinental and colonial trade are discussed fully. Special emphasis is placed on the environmental context of economic growth and later decline, as well as on demographic developments. The authors also argue that the Dutch model of development and stagnation is applicable to currently maturing economies.