Money makes the world go around. Most of us focus on politics, society, and culture when it comes to studying world history. The importance of economics is often overlooked.

Economics has created the world. The process through which societies provide for the well-being of their citizens has driven everything from trade and politics to warfare and diplomacy. Not a single aspect of history has not been influenced by economic practices.

The role economics has played in shaping human civilization is not well understood by most of us. The study of how civilizations have structured their environments in order to provide food, shelter, and material goods is a vital lens through which to think about how we arrived at our present, moment. It is a way to learn about the history behind the economic headlines of today and tomorrow.

There is a long-empty gap in how we think about modern history. There has been an economic history of the world since 1400. A journey through more than 600 years of economic history, from the feudal system of the medieval world to the high-speed information economy of the 21st century. The lectures show how the production, consumption, and exchange of goods has influenced (and been influenced by) historical events and trends, including the Black Death, the Age of Exploration.

How can concepts like prices, resource allocation, production methods, technological development, and labor steer the fates of entire nations and ways of life? This profound question forms the foundation of an exciting Great Course that transforms the basic economic worries of providing for one’s welfare into a riveting, centuries-long story of power, glory, and

The Economics behind History’s Great Events.

The year 1400 is special. Professor Harreld started the course here because this was the moment when we began to see the baby steps that would lead to the modern economic systems we use today. The world economy has been framed by Western ideas and ideals for the past several centuries, so the focus of the lectures is primarily on the West.

The history of economics is not examined in economic history. We will only talk about the history of economic thought. We will focus on what happened in the past. thought What happened in the past?

There has been an economic history of the world since 1400. Through the perspective of economics, you can see major historical moments, shed new light on familiar people and events. It is your chance to see how economic ideas emerged, evolved, and died.

• The Black Death and the end of serfdom: From 1346 to 1353, the plague devastated the population of Europe—an event that would have profound ramifications for the largely feudal economy of the time. Along with a drop in the amount of cultivated farmland and a rise in wages, the Black Death forced indebted manorial lords to turn the management of their estates over to peasants, which began the trend of eliminating serfdom that would be finished by the 19th century.
• Colonialism and joint stock companies: By the end of the 16th century, the Dutch and English broke the Portuguese monopoly on voyages to Asia, opening a new chapter in the story of European domination over long-distance maritime trade. This, in turn, gave rise to joint stock companies—new forms of business organizations like the Dutch East India Company. So powerful were these merchant blocks that their charters acknowledged the use of violence to advance international trade.
• Class consciousness and consumer culture: In the late 19th century, thanks to technological advancements and better living standards, Europeans and Americans had more money in their pockets than ever before. What resulted was a working-class interest in fashions and tastes that had formerly concerned only the upper class. To satisfy this, people turned to more modern forms of consuming goods like mail-order catalogs and department stores. However, an increased emphasis on class lines also led to major labor strikes and riots, as well as the birth of communism.
• World War I and postwar debts: The First World War not only destroyed nations, it also ravaged the international economy. In the years after the war, huge debts that countries had accumulated to finance the war had to be paid off. Inflation hit much of Europe after the United States insisted on being repaid in full. There was also the matter of Germany’s war reparations bill, which was more than $30 billion. Unknown to most parties, these and other economic events created conditions that helped bring about World War II.
• The Middle East and the oil economy: How did the Middle East become such a powerful player on the world stage? The answer lies in the last quarter of the 20th century, when Western attempts to exert economic power in the region, a softening of the post-World War II economy, and a global shift in fuel consumption provided these oil-rich nations with a major role in world affairs.

Examine the relationship between history and economics.

Professor Harreld will help you understand a range of economic concepts, philosophies, trends, treaties, and organizations.

• Learn how early guilds and monopolies were established in an effort to protect merchants from competition in distant cities.
• See how the mercantile system defined by Adam Smith in The Wealth of Nations helped further the process of state building that would remake Western Europe.
• Discover how the United States, which often borrowed European technologies, pioneered the American system of manufacturing using interchangeable parts in the 19th century.
• Consider how Marxist economic ideas played a major role in the African independence movement (and the Cold War) during the 1950s and 1960s.
• Witness how various nations came together to form international economic organizations, partnerships, and trade blocs including the European Union, the Arab League, and NAFTA.

The history of world events can be broken down by these topics. There has been an economic history of the world since 1400. It makes them more understandable. Why wars were won and lost, why international agreements were made and broken, and why national economies rose and fell are all explained by the economy.

Professor Harreld wants you to consider questions about the intersection of history and economics.

• What technological invention, more than any other, revolutionized the modern economy?
• How do economic historians define terms like “globalization” and “class consciousness”?
• Why didn’t China’s advanced civilization industrialize hundreds of years before it actually did?
• What did the economies of Roosevelt’s America and Hitler’s Germany have in common?
• What does history tell us about how nations should—and shouldn’t—dictate economic policy?
• Can we say that free trade is truly free ?

The economic forces of history.

Professor Harreld has spent his career carefully analyzing the interplay between economics and the social and political behavior of countries throughout the world. His chronological approach to the subject combined with illuminating visual aids make this an excellent visual learning experience. His voice makes these lectures compelling to listen to.

It may seem daunting to chart the economic evolution of the modern world, in the hands of this master educator, you are never overwhelmed or vexed by complex economic details. You are guided through a top-level explanation of economic concepts, with the focus always being on their historical ramifications.

Professor Harreld says that history doesn’t repeat itself exactly. The world changes. The past helps us see the world in a better way. With. There has been an economic history of the world since 1400. How much we still have to learn about the economic forces that have dictated our past will determine our future.