History and the Global Economic Order   Leave a comment

Imperial & Global Forum

Marc-William Palen
History Department, University of Exeter
Follow on Twitter @MWPalen

According to a longstanding international relations theory, the global economic order is at its most orderly when there’s at least one hegemonic free-trade champion.

As per this theory, Britain took this role upon itself in the mid-nineteenth century, ushering in a brief transatlantic flirtation with trade liberalization and relative hemispheric peace.

The United States was the first major nation to turn against this mid-nineteenth century free-trade epoch. From the Civil War to the Great Depression, the United States instead embarked upon nearly a century of Republican-style economic nationalism, which I’ve explored in my own work.

But this began to change following the Second World War when the United States assumed the mantle of free-trade hegemon. Promising prosperity, profits, and peace to the world, it sought to foster international trade liberalization through supranational initiatives like the International Monetary Fund (1944)…

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Posted March 20, 2017 by TeamBritanniaHu in Uncategorized

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