Amid a recent surge in arguments that the global economy has begun to "de-globalize," a question has emerged: will globalization survive? In One from the Many, Christopher M. Meissner argues that globalization will not be easily vanquished.
This introduction to the economic history of the global economy and the process of globalization since 1850 tracks and explains changes in international trade, migration, and capital flows. All key indicators of globalization rose between 1850 and 1914 during the first wave of globalization. Between 1918 and 1939 the global economy stagnated, suffering a momentous collapse during the Great Depression. After World War II, the global economy re-emerged and integration deepened.
A long-run view suggests that rising integration and growth of global economy can generate economic benefits and raise welfare. The global economy will almost surely survive and integration will continue to grow. However, globalization can only survive if humanity continues to recognize its common interests and the untapped potential of further integration. Meissner's brief history of the global economy offers economics, political science, and history students a new perspective on the history of its subject matter, with an eye on a future where globalization has the potential to persist as an integrative force.