Export of Capital from Britain, The: 1870-1914 (Electronic book text)

During the years before 1914 the worlds still largely unused resources were brought increasingly within the framework of a single world economy. This process owed much to Britains ability to export capital on a scale which has never since been equalled. Yet periods of heavy investment overseas alternated with home investment booms that absorbed the greater part of Britains savings. The reasons for this fluctuation, and the mechanism which linked Britains economic development with the rest of the world, are still subject to debate. This volume illuminates the problems of the global economy today by examining different interpretations and research from history.