Found in 2 comments on Hacker News
lkrubner · 2022-10-05 · Original thread
Before 1800, and especially before 1500, the monetary economy was so small, and the barter economy was so large, that these economies did not have recessions as we understand them today. A modern recession, as we've understood them for the last 200 years, can only exist in a society that has largely converted all economic activity to the monetary economy, and thereby made it vulnerable to the money cycle. If you're interested in the emergence and development of the monetary economy the best books ever written on the topic are Fernand Braudel's history:

https://www.amazon.com/Civilization-Capitalism-15th-18th-Cen...

https://www.amazon.com/Wheels-Commerce-Civilization-Capitali...

https://www.amazon.com/Perspective-World-Civilization-Capita...

I strongly recommend these books.

If you're interest is more about the classical Western period, I recommend:

https://www.amazon.com/Ancient-Economy-Sather-Classical-Lect...

alexqgb · 2013-01-09 · Original thread
Braudel is a fantastic historian in his own right, but especially important in this context in that he started his career as an overt Marxist who wanted to contribute to Marx's theory by supplying the actual history on which it depended. That is to say, a history told not from the perspective of popes and princes, but one based on material data about the world's great systems; macro-economic factors like weather patterns and the price of grain. This was supposed to be the vantage point from which the nefarious dynamic of capital would reveal itself most clearly, with the underlying data providing an empirical basis for Marx's economic theory, thereby grounding the whole enterprise in reality.

As it turned out, materialist history did provide a very revealing perspective, but not the one Braudel anticipated. Quite the opposite. Among its many revelations was the unavoidable fact that Marx's assertions about history simply weren't supported by the facts. Over time, Braudel found his reverence waning. Eventually, his loss of faith turned into outright rejection. That said, were it not for Marx, Braudel's absolutely brilliant history may never have been written. And that would be a shame, since the materialist approach that Braudel pioneered has become more relevant than ever in our own data-driven age.

http://www.amazon.com/Civilization-Capitalism-15th-18th-Cent...

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