A wonderful blend of “politics and economics, micro and macro,
past and present in an accessible narrative” (The Washington
Post), Global Capitalism presents an authoritative history of the
twentieth-century global economy. Jeffry A. Frieden’s discussion
of the financial crisis of 2008 explores its causes, the many
warning signals for policymakers and its repercussions: a
protracted recovery with accumulating levels of inequality and
political turmoil in the European Union and the United States.
Frieden also highlights China’s dramatic rise as the world’s
largest manufacturer and trading nation, perhaps the most
far-reaching development of the new millennium. Drawing parallels
between the current period and the decades before the First World
War, when the first era of global economic integration gave way to
nationalist rivalry, Frieden’s history clearly shows that
globalisation is neither inevitable nor irreversible but a
political choice. • With a new chapter on the great financial
crisis and the retreat from global integration.
General
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