This paper presents theory and evidence to show that imperialism was a major factor impeding the spread of the industrial revolution during the century ending in the 1950s. Two empirical results stand out. First, analysis of historical evidence shows that most sovereign countries were...

This paper presents a schematic history of the global economy since 1800. The economic and political logic of global capitalism in this period is defined by its ability to derive a growing share of its energy from fossil fuels. The explosive growth of this period, the dominance of capital, the...

Free trade between two countries (A and B) concentrates manufacturing, the invisibles (commerce, banking, shipping, insurance), capital, technology, and skills in A, the country that has an initial comparative advantage (however small) in manufacturing. Conversely, the country with a comparative...