One last look at Economics in World History. This time: How has the economy developed from 1900 to the point we are currently at? The College Board says alot here, but it’s pretty simple. After the Great Depression interventions we saw in UNIT 7, governments began to turn back towards the Free Market and away from Keynesian interventions (they call this Economic Liberalization). As technology and modernization progressed different economies emerged: KNOWLEDGE & MANUFACTURING. Plus, as we GLOBALIZE, different nations formed localized trade blocks to help encourage trade between them. Some multinational global brands emerged like Nestle or Nissan. Finally, Global institutions were put into place to try and make it easier for the nations of the world to trade and borrow.

1. REAGANOMICS
2. SOCIALISM W/CHINESE CHARACHT.
3. SOCIALIST MARKET ECONOMY
4. KNOWLEDGE ECONOMY
5. WORLD TRADE ORGANIZATION

1. GLOBAL ECONOMY FROM HEIMLER’S HISTORY

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