Book: The Great Convergence ( ...within Hodges' model)
"His [Baldwin's] framework posits three "cascading constraints" that hold back the globalisation of markets, namely the cost of moving goods, ideas and people. Initially, all were bundled together: early societies stayed where they were, passed down information to the next generation and ate what they grew. The first wave of globalisation that created the Great Divergence expanded markets via the falling cost of transporting physical goods, thanks to the steamship and the railway. ..." p.10.
The cost of moving: IDEAS | GOODS | ||
PEOPLE |
|
Richard Baldwin (2016). The Great Convergence: Information Technology and the New Globalization. Massachusetts: Harvard University Press.
Beattie, A. (2016). Movement politics. FT Weekend, Life&Arts, Books. November 26-27. p.10.