Professor Sachs begins this chapter by explaining Angus Maddison's graphs of GDP per capita and population from the 1700s, in order to explain Europe’s rise to power during the fourth wave of globalization. Until 1800, the world economy was still Asia-centered; Professor Sachs investigates why the shift in power changed from Asia to Europe in the 19th century. In 1433, China decided to end its ocean exploration and cut off foreign contact until the mid 1800s. The relative openness in Europe may have contributed to the Renaissance and the Scientific Revolution, while others argue that capitalism is the cause of European advantage and divergence. Professor Sachs addresses Max Weber’s philosophy that Protestant Christianity allowed for the creation of global-scale industry. He concludes with a recognition of the gap of income and power that increased in the 19th century been Europe and Asia.
Unless otherwise noted, content on this site is licensed under the Creative Commons Attribution-NonCommercial 4.0 International license.