What Did Merchants Do? Reflections on British Overseas Trade, 1660–1790
分析了1675至1775年英格兰和苏格兰对外贸易的活力来源，包括国内需求、再出口市场和殖民地保护市场，并指出贸易增长依赖于批发商和出口商推动的信贷实践与制度创新。
The relative dynamism of English and Scottish foreign trade from 1675 to 1775 can largely be explained by the interrelated phenomena of the growing domestic demand for American and Asian consumer goods and North European raw materials; the growing market in northern and western Europe for re-exports of American and Asian consumables; and the growing protected market for British manufactures in the American colonies and Africa. Trade growth depended on development of a wide variety of credit practices, supported primarily by big wholesalers and export merchants. Wholesalers and merchants also accounted for important institutional innovations.