The First Modern Economy, first published in 1997, provides a comprehensive economic history of the Netherlands during its rise to European economic leadership, the 'Golden Age', and subsequent decline (1[zasłonięte]500-18). The authors argue that it was the first modern economy, and defend their position with detailed analyses of its major economic sectors, as well as investigations of social structure and macro-economic performance. Dutch economic history is placed in its European and world context, and inter-continental and colonial trade are discussed fully. Special emphasis is placed on the environmental context of economic growth and later decline, as well as on demographic developments. The authors also argue that the Dutch model of development and stagnation is applicable to currently maturing economies.