| Abstract: | This article compares and contrasts the two modern eras of globalisation, namely the one that started in the mid-nineteenth century and ended on the eve of World War I, and the contemporary era. Although in both periods globalisation brought down national barriers and integrated economies and societies, there were distinct characteristic features of both periods. For example, the scale of global integration through trade and financial channels during the contemporary era was unmatched by the previous phase of globalisation. Furthermore, never in history had global integration involved so many countries and people, both in absolute numbers and as a percentage of the global population. |
