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If you’ve been reading these posts, then you’ll be unsurprised to hear that 1870 was the turning point in human history, 1910 was the high-water mark for the white man’s domination of the world, and 1953 was the year it all fell apart. In 1910, the North Atlantic was unashamedly imperialist. The justification through Adam [...] The Great Depression was the most economically devastating event in world history, but it was not distributed equally. Hitler’s Nazi Germany emerged from it quickly and seamlessly, based on a quick abandonment of the gold standard, government-fueled employment, and tight controls on trade. Hitler saw his chance to break the shackles of Versailles and took [...] If World War I was the death knell of capitalism, the Great Depression was a punch in the face to anybody who had any doubts. Even with Keynes as the standard-bearer of Capitalism Viable, everybody was scouring old philosophers for new guidance. Karl Marx began to rear his ugly head as revolutionaries began a new [...] The Great Depression is the most catastrophic event of the 20th century, and you might be surprised to find that it is still poorly understood, despite the fact that it is by far the most well-studied part of history of the last century. Critics are quick to call it an inevitable consequence of capitalism, although [...] So when we left, capitalism and democracy as drivers for freedom were as dug through and shot up as northern France. It was simply impossible to reconcile these philosophies as the optimal setting for everlasting peace when ten million boys lay dead in the mud of Europe’s battlefields. The vacuum of enlightened government was being [...] Hundreds of millions of people will die and billions will suffer the consequences of war, depression, fascism, communism, and ethnic cleansing. You also have to cynically note that Serbia and Bosnia in 1914 were blood brothers willing to fight a hopeless war against the Great Powers together, but by 1999 they can’t co-exist in the [...] After the turning point of 1870, there was no looking back for the West. Communication and transportation became interdependent in creating global demand on an unprecedented scale. London could get news from any part of the globe, and this fed British demand for foreign goods, for everything from Chicago wheat to Chinese tea to Argentine [...] There is no disputing that China prior to the Industrial Revolution was the world’s biggest and most powerful state. At the turn of the millennium, it had distinct advantages in technology, government, and organizational ability. After the Mongol invasions of twelfth century, China began 750 years of decline, culminating in 1870 when Europe began the [...] The turning point in economic history is 1870. That is the focal point at which transportation, communication, and human invention were sparked in a way that totally revolutionized the economy. Some examples: -In 1870, Isambard Kingdom Brunel’s Great Eastern (the largest ship ever built until 1901) lay the undersea telegraph cable from Yemen to Bombay, [...] A series from FKN that I did, based on Professor DeLong’s Econ 115 lecture notes and audio files at Berkeley. One of my favorite professors at Berkeley has made his class notes for a course in economic history of the 20th century public, because the network they use at Berkeley sucks and they wiped [...] |
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