Why do we inhabit a world where there are such great inequalities of wealth and life chances between regions? Why do some countries seem to be caught in a trap of producing products whose value declines over time, such as sugar or coffee? What accounts for the racial hierarchies in countries such as the US and South Africa? Why do some societies and countries seem suspicious of the foreign and economic policies of Western states, corporations and civic associations? The answers to these questions are partially rooted in the origins of the global economy. Indeed, a full understanding of today’s global economy requires a familiarity with patterns that were initiated hundreds of years ago. New histories often tell us as much about the times in which they were written as they do about the historical events themselves.
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- Forging a World Economy: 1400–1800
- Macmillan Education UK
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- Chapter 3