Pragmatic Prices
An excerpt from How China Escaped Shock Therapy
European and American traditions of economic theorizing on price control are intimately connected with war—practices and debates over price control peaked amid the two world wars. The experience of the First World War had been one of inflation and limited…
July 20, 2021
AnalysisPath Persistence
Global trade hierarchies across two eras of globalization
What is the legacy of the First Globalization of the late nineteenth- and early twentieth-centuries on the economic fortunes of countries during the Second Globalization? To what extent have countries’ positions in the international economic order been persistent across the…