1.1 The Great Illusion, 1910

Technology and Globalization in the Very Long Run

“…Belle Époque observers like Angell (1910), having experienced decades of growing trade, seem on the contrary to have seen high interdependence as a permanent state, and perhaps one that would intensify over time. Instead, the interwar period was an era of depressed trade, and the interdependence of which Angell wrote wasn't restored for around 70 years.…”