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European Historical Economics and Globalisation

Author

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  • James Foreman-Peck

    (Cardiff Business School)

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.

Suggested Citation

  • James Foreman-Peck, 2007. "European Historical Economics and Globalisation," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 1(1), pages 23-53, November.
    • Handle: RePEc:bus:jphile:v:1:y:2007:i:1:p:23-53
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    Cited by:

    1. José Luis Cendejas & Félix-Fernando Muñoz & Nadia Fernández-de-Pinedo, 2017. "A contribution to the analysis of historical economic fluctuations (1870–2010): filtering, spurious cycles, and unobserved component modeling," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 11(1), pages 93-125, January.

    More about this item

    Keywords

    Globalisation; long cycle; productivity;
    All these keywords.

    JEL classification:

    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods

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