Abstract
This paper situates globalisation in historical perspective to analyse its implications for development. It sketches a picture of globalisation during the late nineteenth and twentieth centuries. A comparison of these two epochs reveals striking parallels, unexpected similarities and important differences. It shows that globalisation did not lead to rapid growth and economic convergence in the world, either then or now. Indeed, growth slowed down, and income levels diverged, while the gap between the industrialised and developing countries widened, in both epochs. The story of globalisation, it turns out, does not conform to the fairy tale about convergence and development.
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The Cambridge Journal of Economics, founded in 1977 in the traditions of Marx, Keynes, Kalecki, Joan Robinson and Kaldor, provides a forum for theoretical, applied, policy and methodological research into social and economic issues.
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Cambridge Journal of Economics © 2006 Oxford University Press
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Rates of Industrial Growth in the Last Century, 1860-1958Economic Development and Cultural Change
Vol. 9, No. 3, Essays in the Quantitative Study of Economic Growth, Presented to Simon Kuznets on the Occasion of His Sixtieth Birthday, April 30, 1961, by His Students and Friends (Apr., 1961)
, pp. 316-330 (15 pages)
Published By: The University of Chicago Press
//www.jstor.org/stable/1151802
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Current issues are now on the Chicago Journals website. Read the latest issue.Economic Development and Cultural Change (EDCC) publishes studies that use modern theoretical and empirical approaches to examine both the determinants and the effects of various dimensions of economic development and cultural change. EDCC’s focus is on empirical papers with analytic underpinnings, concentrating on micro-level evidence, that use appropriate data to test theoretical models and explore policy impacts related to economic development.
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Since its origins in 1890 as one of the three main divisions of the University of Chicago, The University of Chicago Press has embraced as its mission the obligation to disseminate scholarship of the highest standard and to publish serious works that promote education, foster public understanding, and enrich cultural life. Today, the Journals Division publishes more than 70 journals and hardcover serials, in a wide range of academic disciplines, including the social sciences, the humanities, education, the biological and medical sciences, and the physical sciences.
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This item is part of a JSTOR
Collection.
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Economic Development and Cultural Change © 1961 The University of Chicago Press
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