Conversations on Growth, Stability and Trade
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Conversations on Growth, Stability and Trade

An Historical Perspective

Brian Snowdon

This unique volume provides a comprehensive survey of the major economic issues that have helped shape the modern world. It includes discussions of the latest research findings in macroeconomics and scrutinises some of the most important debates in economic history. The author examines the many controversies relating to the role of government in a modern economy, long-run growth and development, the spread of the Industrial Revolution, the causes and consequences of the ‘Great Depression’, the ‘Great Peacetime Inflation’, the conduct of stabilisation policy, international economic integration and globalisation.
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Brian Snowdon


The author would like to thank the following who have kindly given their permission to reproduce previously published material, namely: NTC Economic & Financial Publishing, Washington, DC, USA, and Henleyon-Thames, UK, for permission to reproduce large sections of the following articles previously published by the author in World Economics: ‘The International Economic System in the Twentieth Century’, World Economics, Vol. 1, No. 3, July–September, 2000. ‘Keeping the Keynesian Faith: Alan Blinder on the Evolution of Macroeconomics’, World Economics, Vol. 2, No. 2, 2001, April–June. ‘Redefining the Role of the State: Joseph Stiglitz on Building a PostWashington Consensus’, World Economics, Vol. 2, No. 3, July–September, 2001. ‘Championing Free Trade in the Second Age of Globalisation: Jagdish Bhagwati on Trade, Democracy and Growth’, World Economics, Vol. 2, No. 4, October–December, 2001. ‘In Praise of Historical Economics: Bradford DeLong on Growth, Development and Stability’, World Economics, Vol. 3, No. 1, January–March, 2002. ‘The Ups and Downs of Capitalism: Ben Bernanke on the “Great Depression” and the “Great Inflation” ’, World Economics, Vol. 3, No. 2, April–June, 2002. The Organisation of Economic Co-operation and Development for permission to reproduce data from Tables 1.2, 3.8, 3.2a, 3.2b, contained in The World Economy: A Millennium Perspective, by Angus Madison (2001). The Brookings Institution, for permission to reproduce Figure 1 from the article by D. Bloom and J.D. Sachs, ‘Geography, Demography, and Economic Growth in Africa’, published in Brookings Papers on Economic Activity, No. 2, 1998. The American Economic Association, for permission...

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