Book description
The rise of modern public finance revolutionized political economy. As governments learned to invest tax revenue in the long-term financial resources of the market, they vastly increased their administrative power and gained the ability to use fiscal, monetary, and financial policy to manage their economies. But why did the modern…
Why read it?
1 author picked Paths Toward the Modern Fiscal State as one of their favorite books. Why do they recommend it?
This book traces the paths of fiscal development in England, Japan, and China, focusing on a critical era of institutional reform after, respectively, the English Civil Wars, the Meiji Restoration, and the Taiping Rebellion.
He brilliantly shows how these events led to urgent calls for state revenue, but how responses differed. England and Japan developed tools of modern public finance and equipped themselves to become world powers. China failed and only caught up much later.
This book is a wonderful example of historical comparative research in fiscal state formation, offering deep insights into the rise of the modern world system.
From Ewout's list on the global rise of fiscal states.
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