Macro Musings with David Beckworth Chris Meissner on the History of Globalization
Mar 2, 2026
Chris Meissner, a UC Davis economist and economic historian who wrote One From Many, offers a sweep of globalization’s past and present. He traces 19th‑century drivers, interwar collapse, Bretton Woods, and late 20th‑century hyperglobalization. He tackles the China shock, supply‑chain interdependence, the Great Financial Crisis’ drag on trade, and whether the world is moving away from integration.
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Globalization As A Long‑Run Emergent Force
- Globalization is a long-run, emergent force driven by technology and human incentives to specialize and trade.
- Chris Meissner traces integration over centuries and argues short-term political detours don't overturn the long-term trend toward more integration.
Study The Global Economy As An Entity
- The global economy should be studied as an entity because interdependence in goods, labor, and capital creates systemwide effects.
- Meissner restructured his class to analyze aggregate global patterns rather than country-by-country comparisons.
Complex Today But Same Trade Logic
- Modern globalization is more complex (supply chains, vertical specialization, multinationals) but shares the 19th‑century core: trade raises welfare via specialization.
- Examples: offshoring iPhone components vs 19th‑century wheat imports illustrate the persistent mechanism.
