In this title, first published in 1978, Sir Arthur Lewis
considers the development of the international economy in the forty
years leading up to the First World War, with the adoption of the
gold standard, a rapid growth in world trade, the opening up of the
continents by the railways, vast emigration from Europe, India and
China, and large-scale international investment.
The book contrasts the relationship between prices, industrial
fluctuations, agricultural output, and the stock of monetary gold,
considering both the varying patterns of leading economies and then
their net combined effect on the rest of the world. This is history
which illuminates the contemporary economic climate in which it was
written but also casts light upon our current economic crisis.
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