HIST 2006 Week 13: Inequality and the World Economy Essay.
How has the global economy changed over the past 200 years? Can we say that the world has
become more economically integrated? Can we say that world economies have converged?
How do exchange rates, the movement of capital and monetary policies fit into it? What is the
Washington consensus? Why is the global economy afflicted by cyclical crises? Have the crises
of 1873, 1929 and 2008 had similar causes, reactions and outcomes?HIST 2006 Week 13: Inequality and the World Economy Essay.
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Michael Bordo, “Globalization in Historical Perspective,” Business Economics, January 2002, pp.
Jeffrey D. Sachs, “Twentieth-century Political Economy: A Brief History of Global Capitalism,”
Oxford Review of Economic Policy, 15/4 (1999), pp. 90-101.*
Thomas Piketty, Capital in the Twenty-First Century (Belknap Press, 2014), pp. 1-35.
Walter Scheidel, The Great Leveler: Violence and the History of Inequality from the Stone
Age to the Twenty-first Century (Princeton, 2016).HIST 2006 Week 13: Inequality and the World Economy Essay.
Paul Bairoch and Richard Kozul-Wright, “Globalization Myths: Some Historical Reflections on
Integration, Industrialization and Growth in the World Economy,” in R. Kozul-Wright and R.
Rowthorn eds. Transnational Corporations and the Global Economy (New York: St. Martins,
1998), pp. 37-68 also in UNCTAD Review, Discussion Papers 113 (1996).*
Pat Hudson and Keith Tribe (eds.), The Contradictions of Capital in the Twenty-First Century: The
Piketty Opportunity (Agenda Publishing, 2016)
Branko Milanovic, Global Inequality: A New Approach for the Age of Globalisation (The Belknap Press
of Harvard University Press, 2016).
Harold James, The End of Globalization: Lessons from the Great Depression (Cambridge, MA:
Harvard University Press, 2000), chs. 1 and 6.*
J. Kocka, Capitalism. A Short History (Princeton University Press, 2016).
A. Atkinson, Inequality: What can be done? (Harvard University Press, 2015).
François Bourguignon, The Globalization of Inequality (Princeton University Press, 2015).
Angus Deaton, The Great Escape: Health, Wealth, and the Origins of Inequality (Princeton University
Press, 2015)HIST 2006 Week 13: Inequality and the World Economy Essay.
Kevin H. O’Rourke and Jeffrey G. Williamson, Globalization and History: The Evolution of a
Nineteenth-Century Atlantic Economy (Harvard: MIT Press, 2000), esp. chs. 11 and 12 (pp. 207-
246) HY 4060.O7
Johan A. Lybeck, A Global History of the Financial Crash of 2007-2010 (New York: Cambridge
University Press, 2011). Book online
N.F.R. Crafts, “Globalisation and Economic Growth: A Historical Pespective,” World Economy,
27/1 (2004), pp. 45-58.*
P. Gourevitch, “International Trade, Domestic Coalitions and Liberty: Comparative Responses to
the Crisis of 1873-1896,” Journal of Interdisciplinary History, 8/2 (1977), pp. 281-313.*
Riccardo Petrella, “Globalization and Internationalization: the Dynamics of the Emerging World
Order,” in R. Boyer and D. Drache, eds., States against Markets: The Limits of Globalization (New
York: Routledge, 1996), pp. 62-81. HY 1000.S8 and Online book
Paul Bairoch, “Globalization Myths and Realities: One Century of External Trade and Foreign
Investment,” in R. Boyer and D. Drache, eds., States against Markets: The Limits of Globalization
(New York: Routledge, 1996), pp. 173-192. HY 1000.S8 and Online book
Nicholas Crafts, “Globalization and Growth in the Twentieth Century,” IMF Working Paper 44
(2000), esp. part 4 (pp. 34-52)*
Robert B. Marks, The Origins of the Modern World (Boulder, 2002), chs. 4 ‘The Industrial
Revolution and Its Consequences’ and 5 ‘The Gap’.
Kenneth Dam, The Rules of the Game: Reform and Evolution in the International Monetary
System (Chicago: University of Chicago Press, 1982). HY 5000.D2
Barry Eichengreen, “Hegemonic Stability Theories of the International Monetary System,” in R.
Cooper, B. Eichengreen, G. Holtham, R. Putnam, and R. Henning, eds., Can Nations Agree? Issues
in International Cooperation (Washington, DC: Brookings, 1989), pp. 255-298.* HY 2600.C2
Barry Eichengreen, Globalizing Capital: A History of the International Monetary System
(Princeton, 1996). HY 5000.E4
Larry Neal and J. G. Williamson, The Cambridge History of Capitalism. 2 vols., (Cambridge University
Press, 2014).HIST 2006 Week 13: Inequality and the World Economy Essay.
Vito Tanzi, “The Changing Role of the State in the Economy: An Historical Perspective”. In Joseph
E. Stiglitz, Making Globalization Work (London: Penguin 2006), ch. 8 ‘The Burden of Debt’ HY
Kiichiro Fukasaku and Luiz de Mello Jr., eds., Fiscal Decentralisation in Emerging Economies:
Governance Issues (Paris: OECD, 1999), pp. 17-36. HX 2100.F4
“By 1900, 80 percent of world industrial output came from Europe and the United States, with
Japan contributing another 10 percent: China contributed 7 percent and India 2 percent,
totaling 99 percent of all industrial production. Thus the one hundred years from 1800 to 1900
saw a great reversal, with Europe and the United States taking the pride of place previously held
by India and China” (Marks p. 135). What were the causes of this ‘reversal’ of fortune and how
does it explain the different phases of globalization in the 19th and 20th centuries?
Explain the major changes of the global economy since 1800.
Which was the strongest crisis of the global economy since 1750 and why?
Has the world become more equal or unequal since 1800?
HIST 2006 Week 13: Inequality and the World Economy Essay.
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