Ideas of Globalisation: Trade, Race and Empire (and Trump!)
Apr 27, 2025
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Join economic historian Marc Palen as he delves into the intriguing world of 19th-century globalization and its connections to today's political landscape, especially under Trump. Discover the clash between economic nationalists and free trade advocates, and question whether globalization ever benefitted everyone or just select groups. Palen discusses the implications of imperialism on trade policies and the rise of protectionism, drawing parallels to contemporary issues like Brexit and U.S.-Canada relations. It's a fascinating journey through history that mirrors our current debates!
The mid-19th century free trade movement was driven by technological innovations that aimed to create a more interconnected global economy.
Debates around free trade often revealed class tensions, as cheaper grain access was tied to undermining aristocratic economic power in Britain.
The resurgence of economic nationalism today reflects similar historical anxieties about protectionism, revealing complexities within globalization debates from the past.
Deep dives
The Foundations of Globalization in the 19th Century
The mid-19th century marked a significant development in the concept of globalization, particularly following Britain's repeal of the Corn Laws in 1846. This repeal catalyzed a period where free trade advocates believed that communication advancements, such as steamships and the transatlantic telegraph, would shrink the world. These technological innovations laid the groundwork for a modern global economy, as they dramatically reduced transportation costs and enabled faster movement of goods. Advocates of free trade envisioned a burgeoning world economy that was increasingly interconnected, spurred by the new efficiencies in trade and communication.
Interplay Between Protectionism and Free Trade
During the 1840s, the connection between industrialization and food security played a crucial role in the free trade debate in Britain. The Anti-Corn Law League argued that removing protective tariffs on grain would provide cheaper food to a rapidly industrializing and urbanizing working class. This coalition aimed to undermine the aristocracy's economic power, questioning whether the push for free trade was genuinely about a global economy or about consolidating economic dominance in Britain. The tension between advocates of free trade and protectionists revealed deep-rooted concerns about the socio-economic costs of potential reforms and how these changes would affect various classes.
The Rise of Economic Nationalism
As the 19th century progressed, the consolidation of free trade ideas faced mounting challenges from economic nationalism and protectionism. Nationalist movements emerged, fueled by anxieties concerning threats from free trade advocates, particularly regarding the preservation of local industries and jobs. In the U.S., protectionist sentiments intensified in response to British free trade policies, which were perceived as detrimental to American interests, leading to a shift in focus toward tariffs and protection of infant industries. This period saw an ideological schism, as different nations grappled with the implications of globalization and the role of state intervention in protecting national interests.
The Complexity of Global Trade Policies
By the end of the 19th century and into the early 20th century, the dynamics of global trade policy reflected contradictory trends, with trade flows increasing despite widespread protectionism. Transport innovations allowed for greater trade volume even as nations turned inward to establish protective tariffs. Both proponents and critics recognized that the free trade narrative was rife with complexities, as burgeoning global trade created tensions between imperial ambitions and nationalist policies. The perception that free trade benefited only the dominant powers fueled debates over whether it was a fair system or a recipe for exploitation of less developed nations.
Historical Echoes in Modern Economic Policy
The present-day resurgence of economic nationalism bears striking parallels to the late 19th-century experiences of Britain and the United States. As nations grapple with the implications of globalization, many have shifted towards protectionist policies, echoing anxieties about being 'ripped off' in an international trade system tilted in favor of the more industrialized countries. Current political rhetoric, emphasizing reciprocity and protection, mirrors the historical arguments made by figures like William McKinley in the 1890s, advocating for tariffs to protect national interests while promoting bilateral trade agreements. This historical context raises questions about the compatibility of free trade principles with the realities of a global economy where national security and self-sufficiency often dominate discussions.
We start a new mini-series on the history of ideas of globalisation by exploring how arguments from 150 years ago foreshadow what’s happening with Trump today. David talks to economic historian Marc Palen about the nineteenth-century fight between economic nationalists and the champions of an open economy. Was free trade for everyone or just for white people? Was it possible to be an imperialist and a globalist? What did the socialists want? And who thought that Canada should be annexed by the United States?
Out now on PPF+: Lenin and Trotsky part 2, taking the story on from 1917 to explore civil war, the rise of Stalin and the re-invention of Trotskyism. To get this and all our bonus episodes plus ad-free listening sign up now to PPF+ https://www.ppfideas.com/join-ppf-plus
Next time on Ideas of Globalisation: The Tariff Wars of the 1900s.
