Power and Plenty Trade War and the World Economy in the Second Millennium 1st edition by Ronald Findlay, Kevin O’Rourke ISBN 069111854X 978-0691118543

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ISBN 10: 069111854X
ISBN 13: 978-0691118543
Author: Ronald Findlay, Kevin O’Rourke

International trade has shaped the modern world, yet until now no single book has been available for both economists and general readers that traces the history of the international economy from its earliest beginnings to the present day. Power and Plenty fills this gap, providing the first full account of world trade and development over the course of the last millennium.

Ronald Findlay and Kevin O’Rourke examine the successive waves of globalization and “deglobalization” that have occurred during the past thousand years, looking closely at the technological and political causes behind these long-term trends. They show how the expansion and contraction of the world economy has been directly tied to the two-way interplay of trade and geopolitics, and how war and peace have been critical determinants of international trade over the very long run. The story they tell is sweeping in scope, one that links the emergence of the Western economies with economic and political developments throughout Eurasia centuries ago. Drawing extensively upon empirical evidence and informing their systematic analysis with insights from contemporary economic theory, Findlay and O’Rourke demonstrate the close interrelationships of trade and warfare, the mutual interdependence of the world’s different regions, and the crucial role these factors have played in explaining modern economic growth.

Power and Plenty is a must-read for anyone seeking to understand the origins of today’s international economy, the forces that continue to shape it, and the economic and political challenges confronting policymakers in the twenty-first century.

Power and Plenty Trade War and the World Economy in the Second Millennium 1st Table of contents:

Chapter 1 – Introduction: Geographical and Historical Background

Western Europe

Eastern Europe

North Africa and Southwest Asia: The Islamic World

Central (or Inner) Asia

South Asia

Southeast Asia

East Asia (China, Korea, and Japan)

Chapter 2 – The World Economy at the Turn of the First Millennium

The Golden Age of Islam

China: The Sung Economic Miracle

The Indian Ocean and Southeast Asian Trade

The Pirenne Thesis

Eastern Europe: The Viking Connection

The Economy of Western Europe

Chapter 3 – World Trade 1000–1500: The Economic Consequences of Genghis Khan

Trade and War in the Mediterranean and the Black Sea, 1000–1350

The Indian Ocean and the South China Sea, 1000–1350

The Pax Mongolica and Overland Trade, 1000–1350

Eurasia on the Eve of the Black Death

The Black Death

Trade between Western and Eastern Europe, 1350–1500

Overland Trade, 1350–1500: The Aftermath of the Pax Mongolica

The Emergence of Russia

The Middle East, the Mediterranean, and International Trade, 1350–1500

Southeast Asia and China, 1350–1500

Quantifying the Late Medieval Spice Trade

Chapter 4 – World Trade 1500–1650: Old World Trade and New World Silver

Portugal, the Atlantic, and the Indian Ocean

Spain, Portugal, and the New World

The Pacific and East Asia

The Dutch Rise to Primacy in World Trade

Russia, Sweden, and the Baltic, 1500–1650

Southeast Asia during the Age of Commerce

The Cape Route, Venice, and the Middle East

Silver, Silk, and Spices

Chapter 5 – World Trade 1650–1780: The Age of Mercantilism

Origins of the British Empire: Trade, Plunder, and Settlement

Mercantilism, Commercial Rivalry, and the Anglo-Dutch Wars

Britain, France, and the Dutch Republic

Britain and France: Commercial Expansion and the Second Hundred Years’ War

India: The Disintegration of the Mughal Empire and the Transition to Colonial Rule

Southeast Asia and the End of the Age of Commerce

The Manchu Empire

China’s Overseas Trade

Chinese and Russian Overland Trade

Conclusion

Chapter 6 – Trade and the Industrial Revolution

Trade during the Industrial Revolution

Trade, Overseas Expansion, and the Industrial Revolution

Why Britain? Why Europe and Not Asia?

Conclusion

Chapter 7 – World Trade 1780–1914: The Great Specialization

War and Revolution

The Revolutionary and Napoleonic Wars: Short-Run Implications

The Revolutionary and Napoleonic Wars: Long-Run Implications

The Industrial Revolution and Transportation Technology

Bulk Commodities and Heckscher–Ohlin Effects

Nineteenth-Century Imperialism

Nineteenth-Century Trade Policy

Commodity Market Integration, 1815–1914

Complementary Factor Flows and the Great Frontier

Trade and the Global Division of Labor

Trade, Tropical Frontiers, and the Great Divergence

The Terms of Trade

Conclusion

Chapter 8 – World Trade 1914–39: Deglobalization

World War I

The Aftermath of War

Interwar Commercial Policy

Transport Costs

The Volume of World Trade

Price Convergence and Divergence

The Great Depression, the Collapse of World Trade, and the Developing Countries

The Collapse of the Ottoman Empire

Conclusion

Chapter 9 – Reglobalization: The Late Twentieth Century in Historical Perspective

World War II

Geopolitical Consequences: Communism, the Cold War, and Decolonization

The Gradual Reconstruction of the Atlantic Economy: 1950–70

Policy Divergence: 1945–80

Reglobalization: 1980–2000

International Transport Costs

Trends in Openness: Quantities and Prices

Unraveling the Great Specialization

Openness and Convergence in the Late Twentieth Century

Conclusion

Chapter 10 – Globalization at the Dawn of the Twenty-First Century

The Future of Globalization: Economic Challenges

The Future of Globalization: Political Challenges

Bibliography

Index

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Tags: Ronald Findlay, Kevin O’Rourke, Trade War, World Economy, Second Millennium