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Journal Articles Journal of Philosophical Economics Year : 2008

European Historical Economics and Globalisation

James Foreman-Peck
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Abstract

Globalisation is here considered as the increasing specialisation or complexity that accompanies extension of spatially limited markets to include larger and larger sections of the world. To the extent that the enlargement of one market brings contact with others, the process is one of market integration. This paper focuses on two millennia of globalisation so defined, from the perspective of the European economies. It shows that there have been several waves of globalisation linked with rising productivity and prosperity, followed by long economic contractions. Expansions took place within new frameworks for internal and external security and the disintegration of these regimes typically reversed the process. Higher incomes were the reward for accepting the greater vulnerability of stronger interdependency.
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hal-03697815 , version 1 (17-06-2022)

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James Foreman-Peck. European Historical Economics and Globalisation. Journal of Philosophical Economics, 2008, Volume I Issue 1 (1), pp.23-53. ⟨10.46298/jpe.10555⟩. ⟨hal-03697815⟩
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