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Power and Plenty

Trade, War, and the World Economy in the Second Millennium (Princeton Economic History of the Western World)

Ronald Findlay and Kevin H. O'Rourke

Princeton UP, 2007

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Thinking of globalization as a new phenomenon or an inevitable one is all too easy. As scholars Ronald Findlay and Kevin O’Rourke explain in this thorough examination, globalization is neither new nor predictable. In fact, international trade has been a reality for more than 1,000 years and the story of global commerce is one of constant change. For centuries, nations have jockeyed for position, imposed rules and killed each other’s citizens in the name of trade. This enlightening work rewards the reader with a depth of understanding and context. However, it would benefit from a more conversational, less academic tone. getAbstract recommends it to readers who want to see world economic affairs in a broader context and perspective.

Summary

From Modest Beginnings to Soaring Heights

As China and India boom, and as the world economy becomes ever more intertwined, globalization looks like a recent phenomenon. This is a shortsighted view of world history. Global trade has existed for centuries, always shaped by political, economic and social upheavals. Countless wars have raged over trade. Even in the year 1000, global trade was a reality. At that time, eight regions participated in international trade to varying degrees:

Western Europe – The region’s geographic advantages made it the envy of the world. It had the highest ratio of coastline to land mass, vast swaths of arable land and numerous navigable rivers. While geographic boundaries, such as the Alps, made the region difficult to unite, the Roman Catholic Church pulled it together culturally. With swords and slaves (until the Slavs converted to Christianity and were no longer seen as trade goods) as its primary exports, it evolved into the major force in international trade.
Eastern Europe – This area, including Russia, Belarus, Ukraine and Turkey, had a more extreme climate and topography than Western...

About the Authors

Ronald Findlay is a professor of economics at Columbia University and the author of Factor Proportions, Trade, and Growth. Kevin H. O’Rourke is a professor of economics at Trinity College, Dublin, and a co-author of Globalization and History.

Power and Plenty

Trade, War, and the World Economy in the Second Millennium (Princeton Economic History of the Western World)

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From Modest Beginnings to Soaring Heights

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