Post on 22-Dec-2015
transcript
Before the Age of Explorations
a world of economy-worlds EuropeIslamic worldIndiaChinaInsulindiaJapan Moscovyand others (Africa, Americas …)
Before the Age of Explorations
the European example:
the manor system is still the
economic base
trade and finance
commodity flows outside the
European economy-world
Before the Age of Explorations
economy-worlds around the world an Amerindian example: Quechua’s
economy-worda self-sufficient economy determined
by altitude exchange circles in Quechua’s
economy-word
Before the Age of Explorations
economy-worlds around the world an economy-word before Europe:
Islamic worldChina: world’s major economy-world the sub-Indian economy-world a ranking of economy-world trade
and financial systems
Before the Age of Explorations
linking economy-worlds: the Age of explorations pre-existing trade flows explorations, a summary two spheres of influence: Asia
(Portugal), and America (Spain economic goals for explorations:
spices
After the Age of Explorations
Long distance trade and new economic balances the shift in the European economic
axis: from Mediterranean to Atlantic from Lisbon to Antwerp, the
Portuguese failureAmerican silver around the world,
the Spanish attempt
After the Age of Explorations
Long distance trade and new economic balances
The Dutch “miracle”
the rise of England
After the Age of Explorations
Outside Europe: colonies and slaverygrowing at someone else’s
expensesmodels of colonizationneeded hands for sugar and
cotton: African slaves
After the Age of Explorations
Agriculture and the escape from the “Malthusian trap”land and property rights new plants from around worldthe agricultural revolution towards a new demographic
pattern
Industrialization
Industrial Revolution: the break with the past technologynatural resources and raw materials leading industrygrowing demand for manufactured
goods
Industrialization
spillovers: the second Industrial Revolution a different pattern
emerging players
the role of transports and communications
Industrialization
the Age of economic Liberalism post 1860 free-trade policiescreating an international capital-
market urbanization work-force migrations
Industrialization
unpredicted effects of the first wave of market-integration the sad fate of the Indian cotton
industry 1870s collapse of food prices desplacing people and
produtctions
Industrialization
a “charmed circle” and a huge periphery
the shift from interlinked economy-worlds to a world economy
the selecteded ones who reap the profits of industrialization
A sudden stop: between the two wars
WWI and its aftermath the end of free-trade
State intervention in the economic sphere
an unexpected chance for the periphery
A sudden stop: between the two wars
the greatest crisis ever: 1929-1934 USA’s charming Twenties the crisis and its immediate
consequencesthe following crisis fallout: the
“State economy”
The return of economic growth
Post-World War II economic trend a new economic order: Bretton
Woodsthe postwar economic recovery the “Golden age” of Western
economy