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Global Economic History: A Very Short Introduction

Name: Global Economic History: A Very Short Introduction
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Book Synopsis: Why are some countries rich and others poor? In 1500, global income differences were small, but disparities have grown dramatically since Columbus reached America. In this Very Short Introduction, Robert C. Allen shows how the interplay of geography, globalization, technological change, and economic policy has determined the wealth and poverty of nations. Allen shows how the industrial revolution was Britain's path-breaking response to the challenge of globalization. Western Europe and North America joined Britain to form a club of rich nations, pursuing four policies—creating a national market by abolishing internal tariffs and investing in transportation, erecting an external tariff to protect their fledgling industries from British competition, creating banks to stabilize the currency and mobilize domestic savings for investment, and promoting mass education to prepare people for industrial work. Together these countries pioneered new technologies that have made them ever richer. A few countries—Japan, Soviet Russia, South Korea, Taiwan, and perhaps China—have caught up with the West through creative responses to the technological challenge and with Big Push industrialization that has achieved rapid growth through coordinated investment.

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Are you curious about the global economic history and how some countries have become wealthy while others languish in poverty? Look no further than "Global Economic History: A Very Short Introduction," an insightful book by Robert C. Allen. With an expert grasp on the interplay of geography, globalization, technological change, and economic policy, Allen unravels the mystery behind the wealth and poverty of nations. Discover how the industrial revolution fueled Britain's monumental response to globalization and how Western Europe, North America, and Britain formed a club of prosperous nations. Through careful examination of four pivotal policies, including the creation of national markets and banks, these countries prospered and pioneered new technologies, becoming continuously richer.

But what about the countries that caught up with the West in terms of economic growth? Allen explores the success stories of Japan, Soviet Russia, South Korea, Taiwan, and possibly China. He delves into their innovative responses to technological challenges and reveals the secrets behind their rapid growth through coordinated investment in what is known as Big Push industrialization.

If you have ever pondered the reasons behind global income differences, "Global Economic History: A Very Short Introduction" is a must-read. Unlock the keys to prosperity and poverty, and gain a comprehensive understanding of the factors that shape nations' economic destinies. Start your journey now!

Learn more about "Global Economic History: A Very Short Introduction" here.

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