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The Institutional Revolution: Measurement and the Economic Emergence of the Modern World
Few events in the history of humanity rival the Industrial Revolution. Following its onset in eighteenth-century Britain, sweeping changes in agriculture, manufacturing, transportation, and technology began to gain unstoppable momentum throughout Europe, North America, and eventually much of the world—with profound effects on socioeconomic and cultural conditions.
In The Institutional Revolution, Douglas W. Allen offers a thought-provoking account of another, quieter revolution that took place at the end of the eighteenth century and allowed for the full exploitation of the many new technological innovations. Fundamental to this shift were dramatic changes in institutions, or the rules that govern society, which reflected significant improvements in the ability to measure performance—whether of government officials, laborers, or naval officers—thereby reducing the role of nature and the hazards of variance in daily affairs. Along the way, Allen provides readers with a fascinating explanation of the critical roles played by seemingly bizarre institutions, from dueling to the purchase of one’s rank in the British Army. Engagingly written, The Institutional Revolution traces the dramatic shift from premodern institutions based on patronage, purchase, and personal ties toward modern institutions based on standardization, merit, and wage labor—a shift which was crucial to the explosive economic growth of the Industrial Revolution.
In The Institutional Revolution, Douglas W. Allen offers a thought-provoking account of another, quieter revolution that took place at the end of the eighteenth century and allowed for the full exploitation of the many new technological innovations. Fundamental to this shift were dramatic changes in institutions, or the rules that govern society, which reflected significant improvements in the ability to measure performance—whether of government officials, laborers, or naval officers—thereby reducing the role of nature and the hazards of variance in daily affairs. Along the way, Allen provides readers with a fascinating explanation of the critical roles played by seemingly bizarre institutions, from dueling to the purchase of one’s rank in the British Army. Engagingly written, The Institutional Revolution traces the dramatic shift from premodern institutions based on patronage, purchase, and personal ties toward modern institutions based on standardization, merit, and wage labor—a shift which was crucial to the explosive economic growth of the Industrial Revolution.
288 pages, Hardcover
First published October 25, 2011
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Displaying 1 - 3 of 3 reviews
December 26, 2012
I have to say that this book was very enlightening. I had never truly understood the concept of the British aristocracy before and learning about it gave me insights into modern concepts that I thought I had previously understood.
While the subject matter certainly is not the most exciting in the world, this has to be one of the most interesting books I picked up in 2012. I can't imagine how anyone could read this and not walk away with new insight and a slightly better understanding of the world around us.
While the subject matter certainly is not the most exciting in the world, this has to be one of the most interesting books I picked up in 2012. I can't imagine how anyone could read this and not walk away with new insight and a slightly better understanding of the world around us.
May 1, 2012
Really interesting look at pre-modern history through an economist's lens. Bit rough in some areas trying to understand the economic point of view. The summaries did not always match the chapters in my mind. Still, really interesting stuff.
November 22, 2013
This book is great. Doug Allen tries to bridge the gap between new institutional economists and the lay public. The result is interesting and hilarious.
Displaying 1 - 3 of 3 reviews