The Rise of the Modern World Economy

Over the past thousand years, modern capitalism has expanded from its European starting point to the entire world. Modern economic activity started with a commercial revolution in the late Middle Ages, concentrated in European city states like Venice and Genoa. From the sixteenth through the eighteenth centuries, European colonialism spread this commercial revolution around the globe. The Industrial Revolution in northwestern Europe led to unprecedented and sustained economic growth, which allowed European nations to dominate the rest of the world economically, politically, and militarily, with mixed results for the rest of the world. Over the past hundred years, global capitalism has continued to present countries, and the people in them, with enormous opportunities, crushing constraints, and major political dilemmas. 

The course is an introductory overview of the economics and politics of international economic activity in historical and theoretical perspective.