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State Cash Resources and State Building in Europe 13th-18th century

Katia Béguin
Anne L. Murphy


Pierre-Cyrille Hautcœur

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Ladies and gentlemen, dear colleagues, I am very honoured but also worried to be asked not to draw conclusions, still less derive lessons, but perhaps to offer some suggestions from the one-and-a-half-day conference which is now ending.

First I would like to say that, in my view, contemporary decision-makers and economists have a vast amount to learn from what has been said since yesterday: obviously not from the detail of each specialist contribution, but from the way in which, taken together, they provide an alternative viewpoint to current economic thought. Behind a great deal of erudition, behind the sophisticated skills needed to make sense of the remaining evidence of the very complex practices of financiers, statesmen and organizations in past centuries, we find a universe of possibilities much larger than the one in which we are confined by the concepts, theories, institutions and empirical observations that we economists encounter every day. The chance to see our practices i...


Pierre-Cyrille Hautcœur is Director of Studies at the École des Hautes Études en Sciences Sociales in Paris. He has recently published: (with Angelo Riva and Eugene N. White), ‘Floating a ‘lifeboat’: the Banque de France and the crisis of 1889’, Journal of Monetary Economics, 65, July 2014, pp. 104–119; (with Paolo di Martino), ‘Bankruptcy law and practices in European perspective 1880–1914’, Enterprise and Society, 14 (3), 2013, pp. 579–605; (with Angelo Riva), ‘The Paris financial market in the 19th century: complementarities and competition in microstructures’, Economic History Review, 65, 2012, pp. 1326–1353; (ed.), Le marché financier français au XIXe siècle (vol. 1: Récit), Paris, Publications de la Sorbonne, 2007.

© Institut de la gestion publique et du développement économique, 2017

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