You can help by adding to it. February The gold standard formed the financial basis of the international economy from to Capitalism was carried across the world by broader processes of globalization and by the beginning of the nineteenth century a series of loosely connected market systems had come together as a relatively integrated global system, in turn intensifying processes of economic and other globalization. Industrialization allowed cheap production of household items using economies of scale while rapid population growth created sustained demand for commodities.
Archaic globalization Archaic globalization conventionally refers to a phase in the history of globalization including globalizing events and developments from the time of the earliest civilizations until roughly the s.
This term is used to describe the relationships between communities and states and how they were created by the geographical spread of ideas and social norms at both local and regional levels.
The first is the idea of Eastern Origins, which shows how Western states have adapted and implemented learned principles from the East. The second is distance. The interactions of states were not on a global scale and most often were confined to Asia, North Africathe Middle Eastand certain parts of Europe.
Eventually, technological advances allowed states to learn of others' existence and thus another phase of globalization can occur. The third has to do with inter-dependency, stability, and regularity.
If a state is not dependent on another, then there is no way for either state to be mutually affected by the other. This is one of the driving forces behind global connections and trade; without either, globalization would not have emerged the way it did and states would still be dependent on their own production and resources to work.
This is one of the arguments surrounding the idea of early globalization. It is argued that archaic globalization did not function in a similar manner to modern globalization because states were not as interdependent on others as they are today.
Because it predated the Great Divergence of the nineteenth century, where Western Europe pulled ahead of the rest of the world in terms of industrial production and economic outputarchaic globalization was a phenomenon that was driven not only by Europe but also by other economically developed Old World centers such as GujaratBengalcoastal Chinaand Japan.
This archaic globalization existed during the Hellenistic Agewhen commercialized urban centers enveloped the axis of Greek culture that reached from India to Spainincluding Alexandria and the other Alexandrine cities. Early on, the geographic position of Greece and the necessity of importing wheat forced the Greeks to engage in maritime trade.
Trade in ancient Greece was largely unrestricted: Maize, tomato, potato, vanillarubber, cacaotobacco Trade on the Silk Road was a significant factor in the development of civilizations from China, Indian subcontinentPersiaEurope, and Arabiaopening long-distance political and economic interactions between them.
In addition to economic trade, the Silk Road served as a means of carrying out cultural trade among the civilizations along its network. Proto-globalization " Early modern -" or "proto-globalization" covers a period of the history of globalization roughly spanning the years between and The concept of "proto-globalization" was first introduced by historians A.
Hopkins and Christopher Bayly. The term describes the phase of increasing trade links and cultural exchange that characterized the period immediately preceding the advent of high "modern globalization" in the late 19th century.
In the 17th century, world trade developed further when chartered companies like the British East India Company founded in and the Dutch East India Company founded inoften described as the first multinational corporation in which stock was offered were established. The period is marked by such trade arrangements as the East India Companythe shift of hegemony to Western Europe, the rise of larger-scale conflicts between powerful nations such as the Thirty Years' Warand the rise of newfound commodities—most particularly slave trade.
The Triangular Trade made it possible for Europe to take advantage of resources within the Western Hemisphere. The transfer of animal stocks, plant crops, and epidemic diseases associated with Alfred W.
Crosby 's concept of the Columbian Exchange also played a central role in this process. European, MuslimIndian, Southeast Asianand Chinese merchants were all involved in early modern trade and communications, particularly in the Indian Ocean region.
During the early 19th century the United Kingdom was a global superpower. Modern[ edit ] According to economic historians Kevin H. O'Rourke, Leandro Prados de la Escosura, and Guillaume Daudin, several factors promoted globalization in the period "Magisterial history one of the most comprehensive histories of modern capitalism yet written." ―Michael Hirsh, New York Times Book Review In international trade reached unprecedented levels and the world's economies were more open to one another than ever before.
Denialists are dead wrong about the science. But they understand something the left still doesn’t get about the revolutionary meaning of climate change. An exploration of the nature and history of capitalism.
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Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low.
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