Growth of the International Economy, 1820-2015

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Cover; Half Title; Title Page; Copyright Page; Table of Contents; List of illustrations; Preface; Abbreviations; Introduction; Prologue: The International Economy from the Beginnings to 1820; The Palaeolithic period; The Neolithic period; Antiquity; Middle ages; Modernity; The Atlantic economy; Appendix 1: Economic output and macroeconomic accounting; Appendix 2: Early financial manias and crashes; Appendix 3: Why Europe? Why Britain?; Part I The International Economy, 1820-1913; Technological progress: Industry and agriculture; Technical progress: Transport and communications

The accumulation of capitalThe growth of world population; The supply of natural resources; The growth of real incomes; The spread of economic liberalism; The growth of international trade; The growth of foreign investment; Direction of foreign investment; Determinants of capital outflow; The use of foreign funds in borrowing countries; Economic consequences of foreign investment; European migration, 1821-1913; Migration and its causes; Aids to mass emigration; Economic consequences of migration; Intracontinental migration; Asiatic migration and tropical development; Summary and outlook

Britain adopts free tradeThe spread of free trade; The economic consequences of free trade; The return to protection; The economic consequences of protection; The growth of world trade up to 1913; The direction of world trade up to 1913; The composition of world trade up to 1913; Conclusions; Introduction; Development of the system; Foreign investment and the multilateral settlements network; Concluding remarks; Bimetallic and monometallic standards; Britain adopts the gold standard; International monetary standards up to 1870; The spread of the gold standard

The role of sterling as an international currency and the importance of the London capital marketThe working of the gold standard; Divergence between classical theory and empirical evidence; Other features of the adjustment mechanism; Conclusions; Appendix 1: History of money from its origins to 1914; Appendix 2: The quantity theory of money; Introduction; The spread of industrialization; The contribution of the international economy; Causes of the limited spread of industrialization; Conclusions; Introduction; Regions of recent settlement; The export economies

Economic imperialism and colonialismThe international transmission of business cycles; Long swings and the international economy; Long-run trends in the terms of trade; Phases of growth; Appendix: International business cycles - concepts and definitions; Part II The First World War and the Interwar Years; The First World War; The international economy after the First World War; Primary production; Population growth and migration; Manufacturing production; Growth of world incomes; The intensification of protectionism; Post-war inflation and the restoration of the gold standard

Weaknesses in the post-war gold standard: International investment

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