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Historical Context

In: Mediterranean Labor Markets in the First Age of Globalization

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  • Paul Caruana Galizia

Abstract

When did globalization begin?1 Some observers point to the 1990s, the decade when the Iron Curtain was lifted, what we now call emerging markets opened up and the Internet was popularized.2 World historians go further back in time. Frank emphatically argues, “There was a single global world economy with a worldwide division of labor and multilateral trade from 1500 onward.”3 Bentley pushes the date further back, claiming that even before 1500 “trade networks reached almost all regions of Eurasia and sub-Saharan Africa.”4 Others appeal to a particular year such as 1492, when Christopher Columbus chanced upon the Americas, or 1498, when Vasco de Gama completed a return trip around Africa to India.5 Economic historians are more skeptical. Menard’s analysis of long-run transport costs shows that between 1300 and 1800 “the international economy was poorly integrated” and that a transport revolution did not occur within the period.6

Suggested Citation

  • Paul Caruana Galizia, 2015. "Historical Context," Palgrave Macmillan Books, in: Mediterranean Labor Markets in the First Age of Globalization, chapter 0, pages 11-30, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-40084-0_3
    DOI: 10.1057/9781137400840_3
    as

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