International trade at unprecedented levels, millions of people migrating yearly in search of jobs, the world's economies more open to one another than ever before...Such was the global economy in 1900. Then as now, many people considered globalisation to be inevitable and irreversible. Yet, the entire edifice collapsed in a few months in 1914. Globalisation is a choice, not a fact. It is a result of policy decisions and the politics that shape them. In this insightful history of the economic and political events that have shaped our time, Jeffry A. Frieden explores the golden age of globalisation during the early years of the twentieth century, its swift collapse in the crises of 1914-45, the divisions of the Cold War world, and the turn again towards global integration at the end of the century. Full of character and event, as entertaining as it is enlightening, "Global Capitalism" deepens our understanding of the century just past and sheds light on our current situation.
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Jeffry Frieden is Professor of International and Public Affairs and Political Science at Columbia University and Professor of Government emeritus at Harvard University. He specializes in the politics of international economic relations. Frieden is the author of Global Capitalism: Its Fall and Rise in the Twentieth Century (2007; second updated edition 2020); of Currency Politics: The Political Economy of Exchange Rate Policy (2015); and the co-author (with Menzie Chinn) of Lost Decades: The Making of America's Debt Crisis and the Long Recovery (2012). Frieden is also the author of Debt, Development, and Democracy: Modern Political Economy and Latin America, 1965–1985 (1992), of Banking on the World: The Politics of American International Finance (1987), and the co-author or co-editor of over a dozen other books on related topics. His articles on the politics of international economic issues have appeared in a wide variety of scholarly and general-interest publications.
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