By David E. McNabb
A Comparative historical past of trade and undefined, quantity II deals a subjective overview of the way the cultural, social and monetary associations of trade and advanced in industrialized countries to provide the establishment we now comprehend as supplier.
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Extra resources for A Comparative History of Commerce and Industry, Volume II: Converging Trends and the Future of the Global Market
2. Conclusion The surge in economic growth that began during the Renaissance was a consequence of what Rosenberg and Birdzell (1986), Van Doren (1991), and others described as a series of “beneficent revolutions,” which occurred over five centuries. These include the voyages of discovery and expansion of trade and commerce that began in the fifteenth century and might legitimately be called a mercantile revolution. Second, in the seventeenth century, the invention of scientific method contributed to economic growth.
In this war, Japan and Italy were also Germany’s allies. Britain emerged from this near half-century of conflict shorn of her empire and well on a slide to becoming a second-rate, unimportant “spectator island” stuck somewhere off the coast of Europe. Britain’s slide into further decline was arrested during the decade of the 1970s, however, and in the last two decades of the twentieth century the nation has reestablished itself as one of the leading economies of the world. The experiences of British business during the twentieth century fit neatly into three disproportionate periods.
This rebuilding period lasted until approximately 1973. The most recent period under which the British business system was shaped in the twentieth century began in 1973, after the Arab oil embargo and Britain’s membership in the European Economic Community (EEC). The rate of growth was further accelerated after North Sea oil began to flow in the late 1970s. First gas and then oil had been found offshore. These new sources of relatively cheap and clean energy fueled Britain’s economic renaissance.