The Cambridge Economic History of the Modern World

The Cambridge Economic History of the Modern World, Volume 2: 1870 to the Present by Stephen Broadberry (Editor), Kyoji Fukao (Editor) 2021

About the Editors
Stephen Broadberry is Professor of Economic History at the
University of Oxford and a Fellow of the British Academy. He has
been Managing Editor of the Economic History Review and also the
European Review of Economic History, and President of the Economic
History Society and the European Historical Economics Society.

Kyoji Fukao is President of the Institute of Developing Economies,
Japan External Trade Organization (IDE-JETRO) and Specially
Appointed Professor at the Institute of Economic Research,
Hitotsubashi University. He has been President of the Asian
Historical Economics Society and has published widely on Japanese
and global economic history.

About the Book
An unprecedented global account of the emergence of modern economic growth and its spread across the world from 1870 to the present.

The second volume of The Cambridge Economic History of the Modern World explores the development of modern economic growth from 1870 to the present. Leading experts in economic history offer a series of regional studies from around the world, as well as thematic analyses of key factors governing the differential outcomes in different parts of the global economy. Topics covered include human capital, capital and technology, geography and institutions, living standards and inequality, trade and immigration, international finance, and warfare and empire.

“This ambitious and timely book is something quite new: a multi-authored undergraduate economic history text that is resolutely pan-European in its approach. The promiscuous presence of so many nation-states in virtually every chapter is very exciting. The outcome an explicitly comparative and interdisciplinary analysis (with lots of elementary and intermediate economics) by three dozen of the best practitioners in the field is a resounding success.” -Cormac O Grada, Professor of Economics, University College Dublin”

“Earlier economic histories of Europe were organized by country, which left the reader unable to see linkages between national economies or to appreciate how the several national economies differed or were similar. This very fine treatment is thus long overdue. The editors have organized a large, talented team of specialist scholars to create a coherent, up-to-date treatment. This work will quickly find a place in both teaching and research.” -Timothy W. Guinnane, Philipp Golden Bartlett Professor of Economic History, Yale University

“Fifteen papers provide a unified economic history of modern Europe from 1870 to the present.” -Journal of Economic Literature

“I strongly recommend this book to readers. It is first a magnificent, unequalled introduction to European economic history. Furthermore it is a plea for the development of not only comparative but also quantitative economic history. It is finally a splendid synthesis exercise, which aims at presenting a cultured audience with the lessons drawn from advanced research in the field of historical economics and/or econometric history devoted to Europe from the eighteenth century to the present day, using clear and understandable terms.” -EH.Net

“The first unified economic history of Modern Europe provides a wide-angle perspective on an epic process of development that transcends national boundaries. Academics, students, policymakers and interested readers will turn to the essays by leading experts in the field for many years to come.” -Alan M. Taylor, Professor of Economics, University of California, Davis

Summary of Introduction (partial)
Volume II begins in 1870 because by then modern economic growth had emerged in Britain and already spread to much of the rest of western Europe and the British offshoots in the New World (the United States, Canada, Australia, and New Zealand), and was poised to begin in Asia, following the institutional reforms in Japan associated with the Meiji Restoration of 1868.

The volume is divided into two parts, with Part I covering regional developments and Part II focusing on the key factors governing differential outcomes in different parts of the global economy.

The biggest gains were in western Europe and the New World, which increased their lead over other regions until after World War II, since when there has been some closing of the gap.

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