History of globalization great depression

Visit Website The American economy entered a mild recession during the summer ofas consumer spending slowed and unsold goods began to pile up, which in turn slowed factory production. Nonetheless, stock prices continued to rise, and by the fall of that year had reached stratospheric levels that could not be justified by expected future earnings.

History of globalization great depression

Globalization Since the Fourteenth Century A Very Long-Term View The many meanings of the word "globalization" have accumulated very rapidly, and recently, and the verb, "globalize" is first attested by the Merriam Webster Dictionary in In considering the history of globalization, some authors focus on events sincebut most scholars and theorists concentrate on the much more recent past.

But long beforepeople began to link together disparate locations on the globe into extensive systems of communication, migration, and interconnections.

History of globalization great depression

This formation of systems of interaction between the global and the local has been a central driving force in world history. Moments and forces of expansion mark the major turning points and landmarks in the history of globalization 1.

Chandragupta Maurya becomes a Buddhist and combines the expansive powers of a world religion, trade economy, and imperial armies for the first time. Alexander the Great sues for peace with Chandragupta in at Gerosia, marking the eastward link among overland routes between the Mediterranean, Persia, India, and Central Asia.

A Quick Guide to the World History of Globalization

The Rise of Genghis Khan and the integration of overland routes across Eurasia -- producing also a military revolution in technologies of war on horseback and of fighting from military fortifications. Columbus and da Gama travel west and east to the Indies, inaugurating an age of European seaborne empires.

US and French Revolutions mark the creation of modern state form based on alliances between military and business interests and on popular representation in aggressively nationalist governments -- which leads quickly to new imperial expansion under Napolean and in the Americas -- the economic interests of "the people" and the drive to acquire and consolidate assets for economic growth also lead to more militarized British, Dutch, and French imperial growth in Asia.

These national empires expand during the industrial revolution, which also provokes class struggles and new ideas and movements of revolution within the national states and subsequently in their empires as well.

The historical chronology of modernity coincides with the chronology of globalization from the eighteenth century. Treaties of Berlin mark a diplomatic watershed in the age modern imperial expansion by European and American overseas empires, beginning the age of "high imperialism" with the legalization of the Partition of Africa, which also marks a foundation-point for the creation of international law.

Here is an old syllabus for an undergraduate course on " US Empire " with some useful links. Preceded by first event called World War and followed by first really global war across Atlantic and Pacific.

The Segmented Trading World of Eurasia, circa Bynetworks of trade which involved frequent movements of people, animals, goods, money, and micro-organisms ran from England to China, running down through France and Italy across the Mediterranean to the Levant and Egypt, and then over land across Central Asia the Silk Road and along sea lanes down the Red Sea, across the Indian Ocean, and through the Straits of Malacca to the China coast.

The Mongols had done the most to create a political framework for the overland network as attested by both Ibn Battuta and Marco Polo.

The spread of Muslim trading communities from port to port along the littorals of the Indian Ocean created a world of sea trade there analogous to the world of land routes in Central Asia. This was a world of commodities trades in which specialized groups of merchants concentrated their energies on bringing commodities from one port to another, and rarely did any single merchant network organize movements of goods across more than a few segments of the system.

For instance, few Europeans ventured out of the European parts of the system; and the most intense connections were among traders in the Arabian Sea or the Bay of Bengal or the South China Sea regions of the oceanic system.

The novelty of the physical integration of the trading system is indicated by the spread of the Black Death in Europe -- which was repeated in waves from the fourteenth through the sixteenth centuries -- because the plague traveled from inland Mongolia and China to Europe by land and sea, lurking in rodents that stowed away on ships, feeding on their food supplies.

The epidemics in Europe indicated a relative lack of exposure to the plague bacillus before then -- and though some outbreaks are indicated along the coast and in China at the same time, it appears that plague was endemic to the Asian parts of the system.

The parts of the system depended upon one another and with increasing frequency travelers record movements across the whole system are recorded from onward, as by Ibn Battuta, Marco Polo, and others.

What Caused the Great Depression?

Janet Abu Lughod argues plausibly that the so-called "rise of Europe" after followed a mysterious period of decline in the Chinese part of the system, and that in the s, it was actually the vast expansion in production in China that was most responsible for the integration of the trading system -- because all roads led to China in the medieval trading world.

The expansion of the Chinese economy in this period is well documented and included agriculture and industry -- and the Mongol regime in China was significant force in tying China into the world economy more forcefully. Coercion and state power was critical in producing stable sites of trade and accumulation along routes of exchange and in protecting travelers on the long overland routes between sites.

There does not seem to have been any significant military power at sea. Exchange within the various regional parts of the system was connected by networks of trade to commercial activity within trade and power relations in other parts -- in a segmented system of connections, like pearls on a string -- and observers made it very clear that states took a keen interest in promoting and protecting trade, even as rulers also used force to extort revenues and coerce production here and there.

In South Asia, it should be noted, the Delhi Sultanate and Deccan states provided a system of power that connected the inland trading routes of Central Asia with the coastal towns of Bengal and the peninsula and thus to Indian Ocean trade for the first time.

Ibn Battuta as much as the Khaljis and Tughlaqs represent the nature of the agrarian environment in the fourteenth century, and though warriors did use force to collect taxes, there was also substantial commercial activity in farming communities over and above what would have been necessary to pay taxes.

Agrarian commercialism inside regions of trading activity clearly supported increasing manufacturing and commercial activity -- and also a growth spurt in the rise of urbanization.

Ibn Battuta -- like Abu-l Fazl and Hamilton Buchanan -- viewed his world in commercial terms, and standing outside the state, he does not indicate that coercion was needed to generate agrarian commodities.

At each stop in his journey, he observed everyday commercialism. The European Seaborne Empires, a. The militarization of the sea lanes produced a competition for access to ports and for routes of safe transit that certainly did not reduce the overall volume of trade or the diversity of trading communities -- but it did channel more wealth into the hands of armed European competitors for control of the sea.

The Indian Ocean became more like Central Asia in that all routes and sites became militarized as European competition accelerated over the sixteenth and seventeenth centuries, as the Portuguese were joined by the Dutch, French, and British.

An expansion of commercial production and commodities trades was supported by the arrival into Asia of precious metals from the New World, which came both from the East and West the Atlantic and Pacific routes -- via Palestine and Iran, and also the Philippines and China.

Like the plague in the s, new arrivals in Europe after signal the rise of a new kind of global system.Oct 27,  · The consensus about the causes of the Great Depression remains today very little.

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Through empirical testing, Fickler and Parker () considered the main mono-causal theories and showed that none of them could explain on their own the depth, the length and the consequences of the Great Depression. A photo from Depression-era Louisiana. Wikimedia Commons Globalization has been one of the dominant economic trends for over years.

Expanding free trade and increasing the flow of goods. The Great Depression. Dorothea Lange was employed by the Farm Security Administration to document the Depression through the camera lens. Her bleak photos captured the desperation of the era, as evidenced through this portrait of an year-old migrant worker and her child.

deepest economic crisis of its history. Nine thousand . Nov 11,  · Since the Great Depression is the longest, most widespread and worst depression in the 20th century, the effects are tremendous.

The History of Globalization | globalization

Like economic nationalism formed because of the Great Depression, and even the burst of WWII is related to it. In considering the history of globalization, some authors focus on events since , but most scholars and theorists concentrate on the much more recent past.

the great depression hits all parts of the world at the same time -- in contrast to depression of late 19th century, but following rapid, simultaneous price rise in most of.

The Great Depression, though most familiar in its Western dimensions, was a truly international collapse, a sign of the tight bonds and serious imbalances that had developed in world trading patterns.

The Great Depression [torosgazete.com]