Catalogue

COVID-19: Updates on library services and operations.

The end of globalization : lessons from the Great Depression /
Harold James.
imprint
Cambridge, Mass. : Harvard University Press, 2001.
description
vi, 260 p. : ill. ; 25 cm.
ISBN
0674004744 (alk. paper)
format(s)
Book
Holdings
More Details
imprint
Cambridge, Mass. : Harvard University Press, 2001.
isbn
0674004744 (alk. paper)
catalogue key
4487787
 
Includes bibliographical references and index.
A Look Inside
Full Text Reviews
Appeared in Library Journal on 2001-03-15:
One gets the impression that recent well-publicized World Trade Organization protests spurred Princeton historian James to write this cautionary book showing how protectionist actions and responses to the changing world trade of the 1920s and 1930s both led to and exacerbated the worldwide Depression of the 1930s. Furthermore, by analyzing the trade, immigration, and monetary policies of Germany, France, Great Britain, and other major countries, he makes a strong case that globalization breeds its own nationalist responses that, if not counteracted, can lead away from free markets and dangerously toward political dictatorship. Reading this book together with the first half of William L. Shirer's Rise and Fall of the Third Reich will give real insight into the economic (and sometimes political) reasons for the emergence of fascism and the slide into World War II. He writes with some economic jargon but no math. There are some tables, 27 pages of footnotes, and many citations in the text to other scholars who both support James's view and hold other opinions. While aimed at policymakers and professionals, this book will be understandable to undergraduate economics majors. Highly recommended for academic and economic libraries as well as public libraries with an active history or economic readership. Patrick J. Brunet, Western Wisconsin Technical Coll., La Crosse (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Appeared in Choice on 2001-11-01:
Globalization is a hot topic today, and the backlash against the increasing internationalization manifested in protests at recent meetings of the World Trade Organization has attracted considerable public attention. Globalization is not, however, a new phenomenon. The late 19th century saw a pronounced movement toward increased international economic integration. This earlier era of globalization came to a dramatic end during the Great Depression of the 1930s. James (history, Princeton Univ.) explores the history of this earlier episode of globalization to identify lessons for our own age. The core of the book (chapters 2-5) tells the story of the interwar financial crisis and the resulting depression and then traces the paths through which the collapse of monetary and financial institutions led to trade and immigration restrictions and an increased emphasis on national economic policies. This story has been told recently by, among others, Barry Eichengreen and Peter Temin, and should not surprise those familiar with the literature on this period. James, however, provides a clear and accessible version of this story and explicitly focuses on the lessons it offers for the present. Recommended for general readers; upper-division undergraduates and up; and professionals. J. L. Rosenbloom University of Kansas
Reviews
Review Quotes
Globalization is a hot topic today, and the backlash against the increasing internationalization manifested in protests at recent meetings of the World Trade Organization has attracted considerable public attention. Globalization is not, however, a new phenomenon. The late 19th century saw a pronounced movement toward increased international economic integration. This earlier era of globalization came to a dramatic end during the Great Depression of the 1930s. James explores the history of this earlier episode of globalization to identify lessons for our own age. The core of the book tells the story of the interwar financial crisis and the resulting depression and then traces the paths through which the collapse of monetary and financial institutions led to trade and immigration restrictions and an increased emphasis on national economic policies...[James] provides a clear and accessible version of this story and explicitly focuses on the lessons it offers for the present.
Harold James points out one of the more amusing side effects of downturns through history--the countervailing boom in articles about economic crises. His own thesis is less doom-laden than the title suggests, but he points out some telling parallels. The Great Depression ended a long period during which the nineteenth-century technologies of rail, steam, and telegraphy integrated the world's economies as never before.
James argues that the Great Depression was the result in part of the failure of three institutions that had evolved to handle the consequences of an increasingly globalized world: tariff systems, central banks, and immigration legislation. James also detects modern-day parallels in the popular backlash against the World Trade Organization and NAFTA, the collapse of long-term capital management, and the meltdown of Asian economies. Though he does not foresee another depression, James does warn that another reverse of the pendulum might today threaten both peace and prosperity.
Students of the inter-war period will certainly be grateful to James for his authoritative, detailed, and elegantly written analysis of policy-making during the Great Depression. He takes in his stride a wealth of recent research, and dissects clearly the dilemmas facing policy-makers as they adopted policies which effectively dismantled the international economy.
This is a deliberately provocative book...Prof James has useful things to say about the overstretched expectations that have partly crippled the International Monetary Fund and which are relevant to the World Bank and World Trade Organisation...Political leaders everywhere should keep a copy under their pillow.
This book is a major contribution to the field of international economic history. It gives us some very powerful insights on the effects of globalization on institution building and destruction. It also provides very detailed and valuable information on the deglobalization experiences of many countries in the interwar period with respect to the breakdown of the financial system and the backlash on international trade and migration.
This is a carefully crafted book on a topical subject. The scholarship is first rate. James demonstrates why he is rightly regarded as the leading historian of the political economy of the interwar period.
This item was reviewed in:
Library Journal, March 2001
Booklist, April 2001
Choice, November 2001
New York Times Book Review, December 2001
Globe & Mail, September 2008
To find out how to look for other reviews, please see our guides to finding book reviews in the Sciences or Social Sciences and Humanities.
Summaries
Bowker Data Service Summary
Globalisation is here. This text provides an historical perspective, exploring the circumstances in which the globally integrated world of an earlier era broke down under the pressure of unexpected events.
Main Description
"Globalization" is here. Signified by an increasingly close economic interconnection that has led to profound political and social change around the world, the process seems irreversible. In this book, however, Harold James provides a sobering historical perspective, exploring the circumstances in which the globally integrated world of an earlier era broke down under the pressure of unexpected events. James examines one of the great historical nightmares of the twentieth century: the collapse of globalism in the Great Depression. Analyzing this collapse in terms of three main components of global economics--capital flows, trade, and international migration--James argues that it was not simply a consequence of the strains of World War I but resulted from the interplay of resentments against all these elements of mobility, as well as from the policies and institutions designed to assuage the threats of globalism. Could it happen again? There are significant parallels today: highly integrated systems are inherently vulnerable to collapse, and world financial markets are vulnerable and unstable. While James does not foresee another Great Depression, his book provides a cautionary tale in which institutions meant to save the world from the consequences of globalization--think WTO and IMF, in our own time--ended by destroying both prosperity and peace.
Unpaid Annotation
Signified by an increasingly close economic interconnection that has led to profound political and social change around the world, the process of globalization seems irreversible. In this book, however, Harold James provides a sobering historical perspective, exploring the circumstances in which the globally integrated world of an earlier era broke down under the pressure of unexpected events.
Table of Contents
Introduction: The End of Globalization and the Problem of the Depression
Monetary Policy and Banking Instability
Tariffs, Trade Policy, and the Collapse of International Trade
The Reaction against International Migration
The Age of Nationalism versus the Age of Capital
Conclusion: Can It Happen Again?
Notes
Index
Table of Contents provided by Publisher. All Rights Reserved.

This information is provided by a service that aggregates data from review sources and other sources that are often consulted by libraries, and readers. The University does not edit this information and merely includes it as a convenience for users. It does not warrant that reviews are accurate. As with any review users should approach reviews critically and where deemed necessary should consult multiple review sources. Any concerns or questions about particular reviews should be directed to the reviewer and/or publisher.

  link to old catalogue

Report a problem