Publications
Publications
- December 2017 (Revised January 2024)
- HBS Case Collection
Globalization Past, 1850–1914 (A)
By: Sophus A. Reinert and Federica Gabrieli
Abstract
On the evening of 3 August 1914, British Foreign Secretary Lord Edward Grey contemplated whether to advise King and Parliament to declare war on Germany in the wake of the country’s invasion of Belgium or to stay out of what quickly was becoming a world war triggered by a royal assassination in Sarajevo. Over the past century, the world had become woven together in ways never before seen, and a truly global economy had emerged that many believed would forever banish the possibility of war altogether. But could trade really assure perpetual peace, and what ultimately mattered most: interest or principles? The case considers the lessons to be had from the rise and fall of the last great period of globalization.
Keywords
The World; The Rise And Fall Of Globalization; World War; Globalization; War; Economics; Trade; Business Cycles; Economic Growth; Economic Slowdown and Stagnation; Society; History; Values and Beliefs; Macroeconomics
Citation
Reinert, Sophus A., and Federica Gabrieli. "Globalization Past, 1850–1914 (A)." Harvard Business School Case 718-023, December 2017. (Revised January 2024.)