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The First Globalization Debate

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  • Craufurd D. Goodwin

Abstract

Early in the 18th century, before the birth of political economy as a discipline, two of the earliest novels in the English language were published: Robinson Crusoe (1719) by writer and economic entrepreneur Daniel Defoe, and Gulliver’s Travels (1726) by the cleric and political adviser Jonathan Swift. The first was widely perceived as an entertaining adventure story, the latter as a pioneering work of science fiction. Both contain indirect comment on the foreign policy of Britain at the time. When viewed from the perspective of the modern economist, however, the works appear to be expressions of opposing positions on the desirability of a nation pursuing integration within a world economy. Crusoe demonstrated the gains from international trade and colonization and even the attendant social and political benefits. He explores the instinct to trade overseas, stages of growth, and the need for careful cost-benefit calculations. By contrast Swift warned of the complex entanglements that would arise from globalization, especially with foreign leaders who operated from theory and models rather than common sense. He makes a case for economic autarky.

Suggested Citation

  • Craufurd D. Goodwin, 2010. "The First Globalization Debate," Working Papers 10-94, Duke University, Department of Economics.
  • Handle: RePEc:duk:dukeec:10-94
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    Keywords

    Daniel Defoe; Jonathan Swift; Robinson Crusoe; Gulliver’s Travels; globalization debate; international trade; colonies.;

    JEL classification:

    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • F02 - International Economics - - General - - - International Economic Order and Integration

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