Globalization and History
The Evolution of a Nineteenth-Century Atlantic Economy
- Winner in the category of Economics in the 1999 Professional/Scholarly Publishing Annual Awards Competition presented by the Association of American Publishers, Inc.
356 pp., 6 x 9 in,
- Published: January 26, 2001
- Published: July 6, 1999
Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914—the first great globalization boom, which anticipated the experience of the last fifty years.
Globalization is not a new phenomenon, nor is it irreversible. In Gobalization and History, Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914—the first great globalization boom, which anticipated the experience of the last fifty years. The authors estimate the extent of globalization and its impact on the participating countries, and discuss the political reactions that it provoked. The book's originality lies in its application of the tools of open-economy economics to this critical historical period—differentiating it from most previous work, which has been based on closed-economy or single-sector models. The authors also keep a close eye on globalization debates of the 1990s, using history to inform the present and vice versa. The book brings together research conducted by the authors over the past decade—work that has profoundly influenced how economic history is now written and that has found audiences in economics and history, as well as in the popular press.
O'Rourke shows that even in the context of a poor market-socialist country whose state places the highest priority on attracting foreign investment in manufacturing, community-driven regulation can be surprisingly effective in reducing pollution and other forms of environmental degradation. Another important conclusion of his study that is relevant to both North and South is the critical role that citizen access to information on pollution emission standards and on how local firms compare to others across the country plays in such regulation.
Fredrick H. Buttel, William H. Sewell Professor of Rural Sociology and Professor of Environmental Studies, University of Wisconsin, Madison