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9781107020542

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'Adam Smith's central thesis was that efficient markets generate economic growth. This lively book revives the Smithian tradition. Efficient markets create growth, and efficient markets were unique to pre-industrial Europe. This is an important contribution to the debate on why the West rather than the East experienced the Industrial Revolution.' Gregory Clark, University of California, Davis 'The timing of the Great Divergence between the economies of the West and East is one of the 'big' topics of modern economic history. Building on a theoretical framework that goes back to Adam Smith, Roman Studer combines new data and cutting-edge analysis to show - deftly and convincingly - that long before the Industrial Revolution the integration of commodity markets in the West fostered rates of economic growth and living standards higher than anywhere in the East.' Cormac O Grada, University College Dublin 'By foregrounding market integration and the costs of trade, The Great Divergence Reconsidered makes a case for a radical shift in the discourse on the origins of international economic inequality. The sophistication of Roman Studer's arguments and the quality of his statistical analysis make that case compelling. This is undoubtedly a major work.' Tirthankar Roy, London School of Economics and Political Science Adam Smith's central thesis was that efficient markets generate economic growth. This lively book revives the Smithian tradition. Efficient markets create growth, and efficient markets were unique to pre-industrial Europe. This is an important contribution to the debate on why the West rather than the East experienced the Industrial Revolution. Gregory Clark, University of California, Davis The timing of the Great Divergence between the economies of the West and East is one of the 'big' topics of modern economic history. Building on a theoretical framework that goes back to Adam Smith, Roman Studer combines new data and cutting-edge analysis to show - deftly and convincingly - that long before the Industrial Revolution the integration of commodity markets in the West fostered rates of economic growth and living standards higher than anywhere in the East. Cormac O Grada, University College Dublin By foregrounding market integration and the costs of trade, The Great Divergence Reconsidered makes a case for a radical shift in the discourse on the origins of international economic inequality. The sophistication of Roman Studer's arguments and the quality of his statistical analysis make that case compelling. This is undoubtedly a major work. Tirthankar Roy, London School of Economics and Political Science

Advance praise: 'Adam Smith's central thesis was that efficient markets generate economic growth. This lively book revives the Smithian tradition. Efficient markets create growth, and efficient markets were unique to pre-industrial Europe. This is an important contribution to the debate on why the West rather than the East experienced the Industrial Revolution.' Gregory Clark, University of California, Davis Advance praise: 'The timing of the Great Divergence between the economies of the West and East is one of the 'big' topics of modern economic history. Building on a theoretical framework that goes back to Adam Smith, Roman Studer combines new data and cutting-edge analysis to show - deftly and convincingly - that long before the Industrial Revolution the integration of commodity markets in the West fostered rates of economic growth and living standards higher than anywhere in the East.' Cormac O Grada, University College Dublin Advance praise: 'By foregrounding market integration and the costs of trade, The Great Divergence Reconsidered makes a case for a radical shift in the discourse on the origins of international economic inequality. The sophistication of Roman Studer's arguments and the quality of his statistical analysis make that case compelling. This is undoubtedly a major work.' Tirthankar Roy, London School of Economics and Political Science

'Adam Smith's central thesis was that efficient markets generate economic growth. This lively book revives the Smithian tradition. Efficient markets create growth, and efficient markets were unique to pre-industrial Europe. This is an important contribution to the debate on why the West rather than the East experienced the Industrial Revolution.' Gregory Clark, University of California, Davis 'The timing of the Great Divergence between the economies of the West and East is one of the 'big' topics of modern economic history. Building on a theoretical framework that goes back to Adam Smith, Roman Studer combines new data and cutting-edge analysis to show - deftly and convincingly - that long before the Industrial Revolution the integration of commodity markets in the West fostered rates of economic growth and living standards higher than anywhere in the East.' Cormac O Grada, University College Dublin 'By foregrounding market integration and the costs of trade, The Great Divergence Reconsidered makes a case for a radical shift in the discourse on the origins of international economic inequality. The sophistication of Roman Studer's arguments and the quality of his statistical analysis make that case compelling. This is undoubtedly a major work.' Tirthankar Roy, London School of Economics and Political Science

Author Information

Roman Studer has worked both in academia and in the private sector, and he is currently the chief operating officer of the UBS International Center of Economics in Society at Universität Zürich. He was a postdoctoral prize research fellow at the University of Oxford and then a lecturer at the London School of Economics and Political Science. He was awarded the Alexander Gerschenkron Prize by the Economic History Association for the best dissertation in international economic history.

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