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14 - Varieties of Global Economy

From Historical to Modern Capitalism, c. 1500–2020

from Part V - Rehabilitating and Provincialising Western Imperialism: Afro-Asians inside and outside the Shadow of Empire

Published online by Cambridge University Press:  17 December 2020

John M. Hobson
Affiliation:
University of Sheffield
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Summary

Chapter 14 closes the book by extending the analysis of chapter 8 and focuses on the two global economies. To counter the final Marxist rebuttal of the existence of a global economy before the nineteenth century, the first section brings into focus a key property of the first global economy (FGE): specifically the global Afro-Indian cotton whip of necessity. It also differentiates this from its modern capitalist successor that is given much emphasis by Marxists. The second section challenges the prevailing assumption in IPE and IR, not to mention many other disciplines, that transnationalism within a properly global economy emerged only after 1945/1979, given the (highly problematic) belief that mercantilist internationalisation prevailed before then. I challenge this temporal binary conception by revealing a significant number of important continuities between the two global economies. I focus on eleven ‘temporal capillaries’ that weave together the two global economies. For in highlighting critical continuities so I argue that the modern global economy is less unique than globalization scholars presume and that many of its features originated within the FGE.

Type
Chapter
Information
Multicultural Origins of the Global Economy
Beyond the Western-Centric Frontier
, pp. 433 - 455
Publisher: Cambridge University Press
Print publication year: 2020

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  • Varieties of Global Economy
  • John M. Hobson, University of Sheffield
  • Book: Multicultural Origins of the Global Economy
  • Online publication: 17 December 2020
  • Chapter DOI: https://doi.org/10.1017/9781108892704.014
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  • Varieties of Global Economy
  • John M. Hobson, University of Sheffield
  • Book: Multicultural Origins of the Global Economy
  • Online publication: 17 December 2020
  • Chapter DOI: https://doi.org/10.1017/9781108892704.014
Available formats
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Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Varieties of Global Economy
  • John M. Hobson, University of Sheffield
  • Book: Multicultural Origins of the Global Economy
  • Online publication: 17 December 2020
  • Chapter DOI: https://doi.org/10.1017/9781108892704.014
Available formats
×