Papers by Dennis O. Flynn
The World Economy, 2002
Absent a workable definition of the term ‘globalization’, debates today lack intellectual rig... more Absent a workable definition of the term ‘globalization’, debates today lack intellectual rigor. Most consider globalization a 20th-century (even post-1945) phenomenon. In fact, globalization was born when Manila was founded as a Spanish entrepA´t in 1571. Connections across the Pacific Ocean (one third of Earth’s surface area) finally linked Asia with the Americas (about another third of the globe); American linkages with the Afro-Eurasian ‘Old World’ (approximately one third of Earth’s surface) had previously existed since 1492. Immense demand for silver in China, the world’s dominant economy, induced global connections. Europeans were middlemen. Multi-century commercial, epidemiological, ecological, and demographic interactions were unleashed at a planetary level. These historical forces heavily influence global relations today.
The Journal of Economic History, Dec 1, 1983
Moneda y crédito, 1980
Información del artículo La plata hispanoamericana y los mercados mundiales en el siglo XVI.
Oxford University Press eBooks, Mar 26, 2020
Generations of scholars have attempted, without success, to link Spanish-American silver to the d... more Generations of scholars have attempted, without success, to link Spanish-American silver to the dawn of European capitalism. Rather, historical connections across the globe have come into clearer focus during recent decades, including awareness of the fact that American, European, and Japanese silver gravitated largely to China (and also India). Having begun during the sixteenth century, globalization has involved deep connections, including trade regimes that linked together multiple free and coerced labour systems simultaneously. Lessons from global history suggest that national ‘capitalisms’ can no longer serve as reasonable units of analysis. From the outset of sixteenth-century origins, globalization generated intertwined economic, environmental, epidemiological, demographic, and cultural accumulations that continue to reverberate across planet Earth today. Wealth creation, wealth distribution, and environmental consequences remain central features of a historical process that requires analysis at a global level.
Información del artículo Imperial monetary policy in global perspective.
“Six Monetary Functions over Five Millennia: A Price Theory of Monies” Abstract Dennis O. Flynn P... more “Six Monetary Functions over Five Millennia: A Price Theory of Monies” Abstract Dennis O. Flynn Pacific World History Institute & University of the Pacific The following six monetary functions are observable over five thousand years of world history: Unit-of-Accounting (intangible)*, Link-Money (intangible), Monetary-Standard (tangible), Medium-of-Exchange (tangible)*, Store-of-Value (tangible)*, Measure-of-Relative-Values (intangible). Conventional monetary theory recognizes only those marked with asterisks. Contradiction exists within this set of three conventional monetary functions, however, since Unit-of-Accounting monies are intangible, while Medium-of-Exchange and Store-of-Value monies are tangible, thereby rendering it impossible to simultaneously satisfy these three functions. An alternative model – Price Theory of Monies – incorporates all six monetary functions identified in historical sources. Stocks and flows of tangible monies receive the same treatment as stocks and flows of non-monetary goods. Advantages of a theory of monetary production, along with mechanisms that describe distribution of tangible monies to end-markets, also apply to production/distribution of non-monetary products.
The Business & Management Collection, Oct 7, 2013
The Journal of Economic History, Mar 1, 1996
China Review International, 2008
... Identification and exploration of key themes in Pacific Centuries history must form the next ... more ... Identification and exploration of key themes in Pacific Centuries history must form the next ... Conventional wisdom states that a Chinese economic crisis crippled domestic food production, and this ... of Chinese income were spent on luxury food items, prominent among which was ...
The Asian review of world histories, Jan 7, 2022
Bin Yang correctly states that cowrie shells (250 species) and cowrie monies (two species mostly)... more Bin Yang correctly states that cowrie shells (250 species) and cowrie monies (two species mostly) deserve far more attention in global histories than they have received. He provides the most comprehensive view of the global history of cowries and cowrie monies to date. Multiple shell monies proliferated worldwide, but they did not concentrate within China (except Yunnan) nor within Europe. Why did specific cowries accumulate only in certain specific geographical locations? Yang establishes a general answer: cultural preferences for holding specific objects, including specific monies, determined where the shells were concentrated. He offers global evidence that, I argue, contradicts mainstream economic theory, which is based upon conceptual aggregation of diverse monies into amorphous stocks of (national or regional) money (singular). Yang demonstrates repeatedly that distinct market locations and distinct market prices existed for specific cowrie and other shell monies (plural) throughout global history. His evidence starkly demonstrates inadequacies of mainstream monetary theory (although he does not say as much). The relentless evidence of the existence of monetary disaggregation, evidence highlighted throughout Yang’s volume, demonstrates an urgent need for alternative monetary theories that portray prices and stocks of individual monies in conformity with empirical evidence provided by archival historians.
Eastern Economic Journal, 1982
Explorations in Economic History, Oct 1, 1978
, and anonymous referees. I have benefited from a discussion with Felipe Ruiz Martin, who drew my... more , and anonymous referees. I have benefited from a discussion with Felipe Ruiz Martin, who drew my attention to important sources. An expression of gratitude is especially owed Maria Jesus Aragon, Marisa Guadalupe, and Jose Luis Martin for hospitality and access to the facilities of the University of Sahuuanca. 1 Azpilcueta's work was not published until 1590, and thus it passed unnoticed by many contemporaries (
Revista de historia económica, Sep 1, 1984
Braudel el primero en formular la visión de la «economía-mundo». ' Sweezy (1950) fue el iniciador... more Braudel el primero en formular la visión de la «economía-mundo». ' Sweezy (1950) fue el iniciador de una viva polémica, una generación antes. El proponía, en efecto, una especie de versión marxista de la «tesis Pirenne», afirmando que la expansión del comercio internacional tuvo un papel instrumental en el desarrollo del primer capitalismo. La respuesta a la cuestión planteada f)or Sweezy ha sido reunida en Sweezy et al. (1978).
The Journal of Economic History, Sep 1, 1990
Charles Kindleberger opens with a characteristic, modest claim that he is not an economic histori... more Charles Kindleberger opens with a characteristic, modest claim that he is not an economic historian at all; rather, he is an economic theorist interloping in unfamiliar territorythis time the global flows of precious metals in the early modern period. The flow of precious metals (mostly ...
Cambridge University Press eBooks, Oct 25, 1991
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Papers by Dennis O. Flynn
Abstract
Dennis O. Flynn
Pacific World History Institute & University of the Pacific
The following six monetary functions are observable over five thousand years of world history: Unit-of-Accounting (intangible)*, Link-Money (intangible), Monetary-Standard (tangible), Medium-of-Exchange (tangible)*, Store-of-Value (tangible)*, Measure-of-Relative-Values (intangible). Conventional monetary theory recognizes only those marked with asterisks. Contradiction exists within this set of three conventional monetary functions, however, since Unit-of-Accounting monies are intangible, while Medium-of-Exchange and Store-of-Value monies are tangible, thereby rendering it impossible to simultaneously satisfy these three functions. An alternative model – Price Theory of Monies – incorporates all six monetary functions identified in historical sources. Stocks and flows of tangible monies receive the same treatment as stocks and flows of non-monetary goods. Advantages of a theory of monetary production, along with mechanisms that describe distribution of tangible monies to end-markets, also apply to production/distribution of non-monetary products.