James examines one of the great historical nightmares of the 20th 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 ended by destroying both prosperity and peace.
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(235mm x 155mm x 20mm)
Harvard University Press
Publisher: Harvard University Press
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Author Biography - Dr. Harold James
Harold James is the Claude and Lore Kelly Professor in European Studies and Professor of History and International Affairs at Princeton University.