Business and Polity explores, through a variety of economic and political formations over the past two and a half millennia, right from the Greco-Roman civilization to present day globalization, the behavior of two power networks: those who control the levers of political power and those who engage themselves in wealth-generating activities. It traces the dynamics of interdependence between these two powerful networks and what happens when one or the other becomes more powerful.
The rational and logical approach taken by the author reveals the links that our modern state of affairs has with the experience of past civilizations—knowledge that can potentially enhance our ability to make informed decisions to shape the global future. Though the content is academic and interdisciplinary in scope and nature, its lucid presentation will appeal to a wide range of readers who are interested in geopolitical issues and economic, political and business history.
Part V: Towards Global Hegemony
[Page 294]Europe used the period from ad 1500 to ad 1750 to catch up with the wealthier areas of Eurasia, in particular China and India. In ad 1000, Asia, Africa and Latin America taken together accounted for 82 per cent of the world's population and 83 per cent of world income. By ad 1700, their share in world income had declined to 66 per cent. During the period from 1000 to 1700, China and India together accounted for half the world's population and as well as income. But Western Europe, Eastern Europe, North America, Oceania and Japan saw their share of the world's income rising from one-sixth in ad 1000 to one-fourth in ad 1500 and one-third in ad 1700 ...