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The Foundations of Worldwide Economic Integration
Power, Institutions, and Global Markets, 1850–1930


Part of Cambridge Studies in the Emergence of Global Enterprise

Harold James, Christof Dejung, Niels P. Petersson, Jérôme Sgard, Rowena Olegario, Bernard Attard, Bernd-Stefan Grewe, Claude Markovits, Pierre-Yves Donzé, Isabella Löhr, Philip Dehne, Michele d'Alessandro
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  • Date Published: April 2013
  • availability: In stock
  • format: Hardback
  • isbn: 9781107030152

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About the Authors
  • The essays in this volume discuss worldwide economic integration between 1850 and 1930, challenging the popular description of the period after 1918 as one of mere deglobalisation. The authors argue that markets were not only places of material exchange, but also socially structured entities, shaped by the agency of individual actors and by complex structures of political and economic power. Economic transactions were supported by an array of different institutions, ranging from formalised regulations to informal relations of personal trust. They argue that these networks were strong enough to prosper even during and after World War I, in a political climate often hostile to foreign trade. The Foundations of Worldwide Economic Integration shows that institutionalism altered its shape in the face of circumstances that increasingly challenged international trade. By presenting case studies from various countries, this book offers a fresh perspective on crucial periods of economic globalisation.

    • In contrast to other books about globalisation published in recent years that aim to give a general overview, this book provides a detailed description of economic interactions and actors below the nation state
    • By incorporating case studies from Asia, Latin America and Africa, this volume portrays a polycentric analysis of the global economy
    • Argues that commercial networks were strong enough to prosper, even after WWI, in a political climate often hostile to foreign trade
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    Reviews & endorsements

    'It has become commonplace to argue that institutions and rules matter greatly to economic performance. But how did these institutions and rules emerge and take the particular shapes that they did? Christof Dejung and Niels P. Petersson's significant collection takes a sustained look at global trade in the late nineteenth and early twentieth centuries and shows how European merchants, Indian peasants, imperial statesmen, and others, constructed these institutions and rules. Far from a definite set of tools, the institutions that enabled global trade were the outcome of sustained social contestation on local marketplaces, in national politics, and across ocean-spanning trade networks. Power is back to the debate on institutions - and this book is a must-read for anyone interested in this important story.' Sven Beckert, Harvard University

    'When you thought that everything had been said about the 'first' globalization, here is a fascinating book shedding new light on its periodization, especially its persistence in the twenties, the importance of norms and institutions, and the complex relationships between its actors, both public and private, national and transnational, rulers and ruled. A timely reminder of the crucial role of power in the shaping of the global economy.' Youssef Cassis, European University Institute

    'This volume provides a challenge to modern historians. It questions the periodization of the 'long tenth century' ending in 1914. It argues that globalization created international institutions, norms, and relations that survived the First World War. By looking at the level of actors, businessmen who shaped international networks, and institutions, the volume challenges wisdom long established by political and economic historians. A must-read for everybody who takes history seriously.' Harm G. Schröter, President, European Business History Association

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    Product details

    • Date Published: April 2013
    • format: Hardback
    • isbn: 9781107030152
    • length: 292 pages
    • dimensions: 235 x 158 x 20 mm
    • weight: 0.54kg
    • contains: 6 b/w illus. 10 tables
    • availability: In stock
  • Table of Contents

    Preface Harold James
    Introduction: power, institutions, and global markets - actors, mechanisms, and foundations of worldwide economic integration, 1850–1930 Christof Dejung and Niels P. Petersson
    Part I. Legal Institutions and Private Actors:
    1. Legal institutions and the world economy, 1900–30
    2. Against globalisation: sovereignty, courts, and the failure to coordinate international bankruptcies (1870–1940) Jérôme Sgard
    3. Credit information, institutions, and international trade: the UK, US, and Germany, 1850–1930 Rowena Olegario
    Part II. Colonial Markets and Non-Western Actors:
    4. The London Stock Exchange and the colonial market: a study of internationalisation and power Bernard Attard
    5. The London gold market, 1900–31 Bernd-Stefan Grewe
    6. The boundaries of Western power: the colonial cotton economy in India and the problem of quality Christof Dejung
    7. The colonised as global traders: Indian trading networks in the world economy, 1850–1939 Claude Markovits
    8. The international patent system and the global flow of technologies: the case of Japan, 1880–1930 Pierre-Yves Donzé
    Part III. World War I and the Consequences for Economic Globalisation:
    9. Transnational cooperation in wartime: the international protection of intellectual property rights during the First World War Isabella Löhr
    10. The resilience of globalisation during the First World War: the case of Bunge and Born in Argentina Philip Dehne
    11. Global economic governance and the private sector: the League of Nations' experiment in the 1920s Michele d'Alessandro.

  • Editors

    Christof Dejung, Universität Konstanz, Germany
    Christof Dejung is Senior Lecturer and Researcher in the Department of History and Sociology at the University of Konstanz, Germany.

    Niels P. Petersson, Sheffield Hallam University
    Niels P. Petersson is Senior Lecturer in History at Sheffield Hallam University.


    Harold James, Christof Dejung, Niels P. Petersson, Jérôme Sgard, Rowena Olegario, Bernard Attard, Bernd-Stefan Grewe, Claude Markovits, Pierre-Yves Donzé, Isabella Löhr, Philip Dehne, Michele d'Alessandro

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