American silver and gold and the rise of the Western world

Author: Zhang Yuyan / Gao Cheng
Publisher:
Publish Date: 2004-11-01
Features: History changes with every retelling. Those long-standing, puzzling, and exhilarating historical mysteries seem to never fully submit to a single answer. This article focuses on a topic that has been told countless times by predecessors and will undoubtedly be told more by future generations, yet remains "young": After a long period of slow economic growth, what caused Western European countries to achieve breakthrough growth? The influx of American silver and gold into Europe was sudden and intense, largely external to contemporary Europe. As an unpredictable and uncontrollable initial variation, it underwent natural selection and accumulated mutations in the environment of fierce competition among emerging nation-states, ultimately leading to institutional changes in Western Europe and forming institutional advantages conducive to economic growth. This book intends to explore the journey of American silver and gold in the European market through historical analysis, delves into the truth behind the rise of the Western world, and presents the authors' views on the role and status of property rights theory in this process. It offers a fresh perspective for scholars and experts in the field of economic research, making it suitable for reading and reference by economic researchers.