for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …

anticipated the collapse of the first era of globalization that began in the mid-nineteenth century. He admonished the short … organize: World War I, Bretton Woods, 1970s Great Inflation and Managed Floating. Each turning point was characterized by …