Economics and World History: Myths and Paradoxes
Paul Bairoch deflates twenty commonly held myths about economic history. Among these myths are that free trade and population growth have historically led to periods of economic growth, and that colonial powers in the nineteenth and early twentieth centuries became rich through the exploitation of the Third World. Bairoch shows that these beliefs are based on insufficient knowledge and wrong interpretations of the history of economies of the United States, Europe, and the Third World, and he re-examines the facts to set the record straight. Bairoch argues that until the early 1960s, the history of international trade of the developed countries was almost entirely one of protectionism rather than a "Golden Era" of free trade, and he reveals that, in fact, past periods of economic growth in the Western World correlated strongly with protectionist policy. He also demonstrates that developed countries did not exploit the Third World for raw materials during the nineteenth and early twentieth centuries, as some economists and many politicians have held. Among the many other myths that Bairoch debunks are beliefs about whether colonization triggered the Industrial Revolution, the effects of the economic development of the West on the Third World, and beliefs about the 1929 crash and the Great Depression. Bairoch's lucid prose makes the book equally accessible to economists of every stripe, as well as to historians, political scientists, and other social scientists.
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Parti Major Myths About the Developed World
Was there a Golden Era of European Free Trade?
Was there Free Trade in the Rest ol the World?
Has Protectionism Always had a Negative Impact?
Major Myths on the Role of the Third World in Western
The other raw materials
Was Colonialism Important in Triggering the Industrial
Major Myths About the Third World
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agricultural products already America annual average Bairoch balance began beginning Britain British capita cereals Chapter cities coal colonial compared concerned considered consumption costs cotton decline deficit depression developed countries duties early economic development economic growth Empire energy especially estimate Europe European example excluding exports fact factors figures foreign France free trade future Germany higher implies important increase indices Industrial Revolution Italy Japan Latin lead least less liberal limited major manufactured means measures million tons myths negative nineteenth century noted period petroleum population present primary probably protection protectionism protectionist rapid reached regions relative represented rest result role sectors seen share situation Sources Statistics sugar Table tariff terms of trade textile Third World Trade balance turning United Kingdom urbanization various volume West Western
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