The Worled Economic System in Asia Before European Hefemony

THEW ORLEDC ONOMICS YSTEMI N
ASLABE FORE EUROPEANH EGEMOW
ANDREG UNDERF RANK
HE RECENT DEMISE OF THE N~~~~ T m,its incorporation into the capitalist system, and the increasing wealth of many Asian countries
provide a new perspective on the origins and maturation of a world emnomic
system that spanned the globe. It is an appropriate moment to critically
retrospect the work of Fernand Braudel and Immanud Wallerstein, both
of whom subscribe advand the view that a worldsconomy emerged in Western
europium by at least 1450, then spread outward from Europe to encompass the
rest of the world. Shelves of historical literature have argued that the origin
and development of that world economy were due to European exceptionalism.
early(a) scholars, however, envision a multicentric Eurasian system
by the thirteenth vitamin C and question European exceptionalism, pointing
out, for example, that the conquest of the Americas, rather than European
capitalism, permitted Europeans to take everywhere Asian markets.
This essay examines historical perspectives on modem world write up,
particularly the contradictions between what Braudel and Wallerstein say
and what they show.



Contrary to their interpretations, Wallerstein and
Braudels evidence demonstrates that modern history unfolded in a world
economic system, the center of which emerged in Asia and all shifted to
Europe after 1800. This essay also addresses the contr oversy over the Eumpean
origin of capitalism and casts doubt on the validity of craft the early
Andre Gunder Frank is professor of development economics and social sciencs at the University
of Amsterdam.
Fernand Braudel, The Perspective of the World, vol. 3 of Civilization and Capitalism
25th-18fh Century (Berkeley, 1982); Immanuel Wallerstein, The Modern World-System, 3 vols.
(New York, 1974-1989). For an example of European exqtionalism, see E. L. Jones, The
European Miracle: Environments, Economies and Geopolitics in the memoir of Europe and Asia...If you want to get a full essay, say it on our website: Ordercustompaper.com



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