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The Great Convergence
Book

The Great Convergence

Information Technology and the New Globalization

Richard Baldwin
Belknap Press, 2016

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Editorial Rating

8

Qualities

  • Comprehensive
  • Analytical
  • Hot Topic

Recommendation

Many people believe that globalization began with the telecommunication and technology advances of the 1990s. But economics professor Richard Baldwin argues that globalization’s narrative is far more nuanced, with significant historical context dating back to the 1800s and with important prospects unfolding in the 21st century. He makes a strong case that the central theme of globalization relies on innovation mitigating the costs of moving goods, ideas and people. Executives, analysts and students will find this an intelligent and comprehensive exploration of globalization past, present and future.

Take-Aways

  • The main drivers of globalization are the costs of transporting goods, ideas and individuals. 
  • The Industrial Revolution spawned a “Great Divergence” in wealth.
  • Information and communication technologies cut the costs of moving ideas, reversing the flow of wealth to create the “Great Convergence.” 

About the Author

Richard Baldwin is an economics professor at the Graduate Institute in Geneva and the president of the Centre for Economic Policy Research.

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