“Neither the current state nor the future prospects of this evolving order can be understood without an appreciation of its history.”

— Barry Eichengreen , Introduction

Source: Globalizing Capital (2008), Chapter 1. Introduction

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Barry Eichengreen 10

Economist 1952

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Fragments of Markham's notes
The Nemesis of Faith (1849)
Context: Our instinct has outrun our theory in this matter; for while we still insist upon free will and sin, we make allowance for individuals who have gone wrong, on the very ground of provocation, of temptation, of bad education, of infirm character. By and by philosophy will follow, and so at last we may hope for a true theory of morals. It is curious to watch, in the history of religious beliefs, the gradual elimination of this monster of moral evil. The first state of mankind is the unreflecting state. The nature is undeveloped, looking neither before nor after; it acts on the impulse of the moment, and is troubled with no weary retrospect, nor with any notions of a remote future which present conduct can affect; and knowing neither good nor evil, better or worse, it does simply what it desires, and is happy in it. It is the state analogous to the early childhood of each of us, and is represented in the common theory of Paradise — the state of innocence.