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Palgrave Studies in the History of Economic Thought

Shifting Capital

Mercantilism and the Economics of the Act of Union of 1707

Authors: Ramos, Aida

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  • Explores mercantilism as a proto-Big Push theory
  • Analyses the alliance between state and commercial finance
  • Presents England's history of interaction with Scotland to the point of unification
  • Reviews the economic troubles of Scotland
  • Examines the economic consequences of the Union
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eBook $39.99
$54.99 (listprice)
price for USA in USD (gross)
valid through December 31, 2019
  • ISBN 978-3-319-96403-4
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $49.99
$69.99 (listprice)
price for USA in USD
valid through December 31, 2019
  • ISBN 978-3-319-96402-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

When the Act of Union was passed in 1707, Scottish parliament was dissolved and the nation’s capital became London. While the general public balked at the perceived unfairness of the treaty, the majority of Scottish ministers seemed satisfied with its terms. This book offers an explanation of how that outcome came about. By examining the influence of a particular strain of mercantilist thought, Ramos demonstrates how the negotiations preceding the passage of the Act of Union were shaped by ideas of value, wealth, trade and power, and, accordingly, how the model of positive balance was used to justify the necessity of the Act.

Utilizing contemporary evidence from the English and Scottish ministers involved, this book explores alternative arguments regarding the Union, from before 1707 and in early Scottish political economy, thus highlighting the differing economic and political views that have persisted between England and Scotland for centuries. With twenty-first century discontent leading to the Scottish independence referendum and arguments that persist in the wake of the Brexit decision, Ramos produces timely research that investigates ideas of protectionism that feed into mercantilist economic thought. 

About the authors

Aida Ramos is Associate Professor of Economics at the University of Dallas, Texas, USA. She earned her PhD in economics at the University of Notre Dame, USA. Her research interests are in the history of Scottish and Irish economic thought.

Table of contents (7 chapters)

Table of contents (7 chapters)
  • Introduction

    Pages 1-21

    Ramos, Aida

  • The Political and Economic Contest and Context: Scotland and England Before the Union

    Pages 23-41

    Ramos, Aida

  • Beyond Trade: Mercantilist Ideas of Dependency, Value, and Transmutation and Justification of Union

    Pages 43-60

    Ramos, Aida

  • Trick or Treaty: The Negotiation and Articles of Union in the Context of Mercantilist Ideas

    Pages 61-82

    Ramos, Aida

  • Balancing Act: The Equivalent, Political Arithmetic, and Mercantilist Structural Violence

    Pages 83-102

    Ramos, Aida

Buy this book

eBook $39.99
$54.99 (listprice)
price for USA in USD (gross)
valid through December 31, 2019
  • ISBN 978-3-319-96403-4
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $49.99
$69.99 (listprice)
price for USA in USD
valid through December 31, 2019
  • ISBN 978-3-319-96402-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Shifting Capital
Book Subtitle
Mercantilism and the Economics of the Act of Union of 1707
Authors
Series Title
Palgrave Studies in the History of Economic Thought
Copyright
2018
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-319-96403-4
DOI
10.1007/978-3-319-96403-4
Hardcover ISBN
978-3-319-96402-7
Series ISSN
2662-6578
Edition Number
1
Number of Pages
XI, 143
Topics