Economic Globalisation - The merchant, the inventor and the sovereign (from the Neolithic period to the Second World War)

 

Economic globalisation in the broadest sense is as ancient as commercial trade. It resulted from a combination of dynamic merchants seeking new markets outside their own borders, improved transportation and communication techniques, and political desire to foster foreign trade – all of which occurred to different degrees at different points in time over the centuries.

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Chapter 2 examines the historical milestones that both facilitated and exacerbated economic interactions among countries and peoples until they were interrupted by the Second World War. The idea of economic globalisation is rooted in rich and ancient history. The great discoveries of the 15th century and the Industrial Revolution of the 19th century accelerated global economic integration, while the protectionism of the Great Depression in the 1930s slowed it down and even reversed it.

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  Source: Crafts, N. and A. Venables (2003), Globalization in History: A Geographical Perspective, University of Chicago Press, p. 8, www.nber.org/chapters/c9592.pdf.
StatLink: http://dx.doi.org/10.1787/888932780019
 

 

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