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Power and Plenty: Trade, War, and the World Economy in the Second Millennium (Princeton Economic History of the Western... |
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Power and Plenty: Trade, War, and the World Economy in the Second Millennium (Princeton Economic History of the Western...
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by Ronald Findlay and Kevin H. O'Rourke
Sales Rank: 21535
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List Price: $39.50
$29.80
At Amazon
on 6-18-2008.
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Features
Cover Type: Hard Cover with 624 pages
Published by: Princeton University Press November 12, 2007
Written in: English
ISBN 10 Number: 069111854X
ISBN 13 Number: 978-0691118543
Book Dimensions:
9.3 x 6.3 x 1.7 inches
Weighs: 2.4 pounds
The Economist
" a splendidly ambitious new book for anyone wanting a better understanding of economic developments in the last millennium."
Product Review
Eric Rauchway The New Republic : The great new book Power and Plenty explains why some countries are rich, and why others are not. [Recent books] all try to explain the biggest question of the modern world: why some [countries] are rich and other poor. Now, we havePower and Plenty, a tome that combines the interpretive focus of the new school of explainers with the breadth and depth of the old narratives. They also put neoliberal economic theory to the historical test by asking what it would predict, and then contrasting those forecasts with history's actual path. Findlay and O'Rourke tell their tale exceptionally well.
Economist : [A] splendidly ambitious new bookan great reference book for anyone wanting a better understanding of economic developments in the last millennium.
Andrew Leonard Salon.com : Aiming at nothing less than documenting the history of world trade over the last 1,000 years, Power and Plentyappears to be required readingfor the purposes of better understanding how the world works.
G. John Ikenberry Foreign Affairs : This new history of the last thousand years of world trade is remarkable in both its grand sweep and its scholarly depth. It pieces together the story of global commerce from the medieval spice traders and nomads of Central Asia to the discovery and incorporation of the New World, to the Industrial Revolution and the rise of Europe, and to the globalizing forces of the postwar world economy. One theme is the importance of the 'vast webs of interrelationships' between western Europe and other regions that, beginning in the medieval period, set the stage for modern economic growth. The other theme is the critical role of war in propelling economic change through upheaval and adaptation.
Clive Crook Financial Times : Power and Plenty is a wide-ranging survey, both of the facts and of the literature, not an essay organized around a single thesis. It takes on, and treats seriously, a ton of material. Bearing that in mind, it isengagingwell written, spiced with nuggets of fascinating information and dry wit. [Findlay and O'Rourke's] economics is sophisticated and mainstreambut enriched with an unusual attention to noneconomic factors--or, as the authors put it, 'a sustained emphasis on conflict, violence and geopolitics.'
Wan Lixin Shanghai Daily : [A] solid new book. Power and Plenty is an ambitious endeavor that looks at the works in the second millennium in light of globalization, deglobalization, reglobalization, and globalization as we know it today. The book fills a gap by scrutinizing the technological and political causes behind the long-term trends during the past thousand years. [The authors] have drawn exhaustively on the historical, political, and economic literature of the relevant periods for virtually all the major regions in the world.
M. Veseth Choice : This magisterial volume presents an analytical history of world trade from 1000 CE to the present, with informed speculation about future trends thrown in for good measure. It is a very considerable achievement, for which Findlay and O'Rourke deserve great praise.
Frank Geary Irish Times : In this awesomely conceived and executed work, Findlay and O'Rourke set out the history of global trade and show how it has been influenced by economic development and politics over the last thousand years. The authors have an important story to tell and they tell it superbly. This is a work brimming with scholarship, deftly combining narrative history with accessible economic analysis. This is a goldmine of a book. Open it where you will, there are nuggets to be extracted. It will remain the standard work on the history of world trade and indeed the development of the world economy for many years to come.
Reader Reviews
According to Ricardo's theory of trade and comparative advantage, nations reach economic quilibrium through the reciprocity of supply and demand. He was assuming, of course, that all markets were free and all actors rational. This was the ideal rather than the real. Now, economists Ronald Findlay and Kevin O'Rourke advance a modified version of this thesis: trade, or the flow of supply and demand, must be understood within the context political and military equilibrium. It was John Kenneth Gailbraith who said that economics is a political contruct. The authors of this new book attempt to interpret the last 1,000 years of world history where trade flows were determined by "the barrel of a Maxim gun, the edge of a scimitar, or the ferocity of a nomadic horseman." Many historians and economists have written world economic histories, but they have focused on only particular regions. For example, Eric Jones in The European Miracle: Environments, Economies and Geopolitics in the History of Europe and Asia saw history from a European perspective and, on the other side, Kenneth Pomeranz's The Great Divergence: China, Europe, and the Making of the Modern World Economy. was told from a more sinocentric point of view. The authors of this work give a more balanced account, treating all the regions equally. The authors believe that politics determines economics more than the other way around focus their attention first and foremost on global conflict and geopolitics. The authors argue that there were three great world historical events that shaped the Second Millenium. The first being Pax Mongolica established by Genghis Khan and the nomads of Central Asia. This established by force the first common market stretching from Western Europe to the Sea of Japan. It resulted in a huge increase in population as well as an increase in economic output. It also brought with it microbes which caused the Black Death in Europe. The second transformational event was the discovery of the New World along with further exploration of Africa and Asia. This was in many ways a consequence of the first event. The period from 1500 to 1650 was known as the Age of Mercantilism. The authors focus on political and military strategies adopted by Asians to counter European colonial and mercantile policies. The third transformational event was the Industrial Revolution. Its importance to the last two centuries almost cannot be overemphasized. The technological world we live in today got its start in Northern England two hundred years ago. It marked the beginnig of the "great divergence" in wealth among nations. It had a direct influence on the Napoleonic Wars and World Wars I and II. It also lead to Pax Britannica and, after World War II, Pax Americana. The authors describe the successive eras of world trade as they were determined by imperialism and global conflict. In each new era a different set of geopolitical relations is established, each time altering the currents of trade. The authors hope that some lessons can be learned from the violence and injustice of past conflicts as newly emerging powers such as China and India take the world stage today. There are presently centrifugal and centripetal forces at work: centripetal being the ever-integrating force of technological progress and centrifugal being anti-globalization backlash. This book can provide valuable information regarding these two forces.
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Power and Plenty: Trade, War, and the World Economy in the Second Millennium (Princeton Economic History of the Western...
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