Notes 8.29 - 8/29 Boyer 1914 world economy is well...

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8/29 – Boyer - 1914: world economy is well integrated - When did globalization begin? o 1500 AD group: Columbus discovers America; Degama gets to India by sailing around Africa Columbus colonization Adam Smith (1776): Wealth of Nations Two discoveries led to economic growth Natives often get short end of stick Immanuel Wallerstein- begins world economy in 1800 Frenan Pontel Considred Eurocentric o Pre-1500 AD group Janet Abu-Lughad- well function World Economy, 1240 AD Economy centered on Asia, Europe not involved Andre G. Frank- Asia- centric, world economy is well functioning well before 1500 o 19 th Century Group: Karl Marx Freidrick Engels J. G. Williamson Defines globalization as- the only irrefutable evidence that globalization is taking place is the convergence and dispersion of commodity prices
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- Mercantilism o 17 th century/Early 18 th century, prevents globalization o Wealth of a nation is determined by its stock of precious metals— particularly gold ignores GDP
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