Product Description

A sweeping narrative history of world trade--from Mesopotamia in 3000 B.C. to the firestorm over globalization today--that brilliantly explores trade's colorful and contentious past and provides new insights into its future

Adam Smith wrote that man has an intrinsic "propensity to truck, barter, and exchange one thing for another." But how did trade evolve to the point where we don't think twice about biting into an apple from the other side of the world?

In A Splendid Exchange, William J. Bernstein tells the extraordinary story of global commerce from its prehistoric origins to the myriad controversies surrounding it today. He begins in ancient Mesopotamia, where early traders floated barley, copper, and ivory up and down the Tigris and Euphrates, and he moves on to the Greeks, whose grain trade helped ignite the Peloponnesian War. He transports readers from the ships that carried silk from China to Rome on monsoon gales in the second century to the rise and fall of the Portuguese monopoly in spices in the sixteenth; from the rush for sugar that brought the British to Jamaica in 1655 to the American trade battles of the early twentieth century; from key innovations such as steam, steel, and refrigeration to the modern era of televisions from Taiwan, lettuce from Mexico, and T-shirts from China.

Along the way, Bernstein, who is both a gifted storyteller and an accomplished economic theorist, brings to life a gallery of fascinating characters and synthesizes thousands of years of history--social, cultural, political, military, and economic--into a rich and engaging narrative. He explores how our age-old dependency on trade has contributed to our planet's agricultural bounty, stimulated intellectual progress, and made us both prosperous and vulnerable. Bernstein concludes that although the impulse to trade often takes a backseat to xenophobia and war, it is ultimately a force for good among nations, and he argues that societies are far more successful and stable when they are involved in vigorous trade with their neighbors.

Lively, authoritative, and astonishing in scope, A Splendid Exchange is a riveting narrative that views trade and globalization not in political terms, but rather as an evolutionary process as old as war and religion--a historical constant--that will continue to foster the growth of intellectual capital, shrink the world, and propel the trajectory of the human species.

Includes 23 maps and 40 black-and-white illustrations.

Product Details

• Amazon Sales Rank: #3057 in Books
• Published on: 2008-04-11
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 494 pages

Review
"Entertaining and greatly enlightening . . . Mr. Bernstein is a fine writer and knows how to tell a great story well . . . A Splendid Exchange is a splendid book." -- John Steele Gordon, The New York Times

"Excellent . . . Bernstein is equally at home plumbing the romantic dawn of trade or untwisting the mind-wracking complexity of modern international commerce." -- Kirkus Reviews (starred review)

"Superb . . . [A] significant contribution . . . A Splendid Exchange is a work of which Adam Smith and Max Weber would have approved." -- Paul Kennedy, Foreign Affairs

"Timely and informative . . . Fascinating and surprisingly exciting . . . A saga of epic proportions." -- Booklist

From the Inside Flap
"A Splendid Exchange is really much more than a history of trade. In William Bernstein's deft treatment, it becomes pretty much a history of the world. The age-old urge to profit by buying low and selling high led to empires, wars, trade restrictions, and--more recently--violent protests against economic and financial globalization. Bernstein's vast knowledge of trade's past is great preparation for dealing effectively with today's controversies about its future."
--Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets, and Professor of Economics, NYU Stern School of Business

"In A Splendid Exchange, Bill Bernstein has further burnished his credentials as both an economic historian and a felicitous writer. He has given us an eye-opening, brilliantly researched, anecdote-laced, and exciting-to-read history of global trade. Readers of this compelling saga will be intellectually rewarded, enticed, and amused--and more sensitively attuned to the challenges of today's version of the globalization that has driven so much of civilization's economic growth and social progress."
--John C. Bogle, founder, the Vanguard Group

"A Splendid Exchange is filled with adroit observations on the evolution of trade from the ancient world to today. Bernstein draws upon a vast historical context to show how trade's development is part of society's natural progression toward prosperity, and he makes a convincing case that trade and trade policy have been the catalyst for the development of ambitious nations. He correctly asserts that we must be aware of how it has shaped the past because it will continue to have a pivotal role--for better and for worse--as we move into the future. Politicians take heed!"
--Arthur Laffer, founder and chairman, Laffer Associates

"Bernstein illuminates modern debates in a sweeping history of international trade, weaving skillfully between rollicking adventures and scholarship. His history of trade from the ancients to the present is a story of our irrepressible urge to exchange goods, which in turn fostered exchanges of art, science, and ideas. The story of trade is the story of humankind; all in all, a happy story indeed."
--Pietra Rivoli, author of The Travels of a T-Shirt in the Global Economy

"Think contentious debate over globalization is something new? Think again. With a staggering understanding of the role of trade in history and a storyteller's touch for illuminating its human impact, William Bernstein takes us back to the days of `ghost ships' and perilous land journeys to explain how age-old debates over trade's winners and losers shape today's bitter divisions over free trade and protectionism. Along the way, Bernstein uncovers the roots of Sino-American trade tensions and explains how century-old backlashes over free trade continue to reverberate as the world's nations become ever more connected to each other through commerce. Bernstein has given us a master's insights into the past to help us understand an issue of deep divisions in the present age."
--Sara Bongiorni, author of A Year without "Made in China"

"Bernstein's powerful book demonstrates that trade is a fascinating, pervasive, and often dominant factor in human history. But Bernstein also provides us with memorable stories about nations around the world and through the centuries. Economics, sociology, military strategy, and even health care are here, as well as a striking group of vivid personalities. The book is not just essential reading; it is fun all the way."
--Peter L. Bernstein, author of Against the Gods

"Bill Bernstein is a funny, lively storyteller who engages us with rich stories that tell how international trade and economic history have evolved together from the Stone Age on. This book is a wonderful way to learn history, geography and economics. As I read it, I felt like a kid reading about Uncle Scrooge's adventures among old civilizations in strange lands, all the while harvesting ideas for my classes."
--Ed Tower, Professor of Economics, Duke University

From the Back Cover
"Excellent . . . [Bernstein] is equally at home plumbing the romantic dawn of trade or untwisting the mind-wracking complexity of modern international commerce."
--Kirkus Reviews (starred review)

"A Splendid Exchange is really much more than a history of trade. In William Bernstein's deft treatment, it becomes pretty much a history of the world. The age-old urge to profit by buying low and selling high led to empires, wars, trade restrictions, and--more recently--violent protests against economic and financial globalization. Bernstein's vast knowledge of trade's past is great preparation for dealing effectively with today's controversies about its future."
--Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets, and Professor of Economics, NYU Stern School of Business

"In A Splendid Exchange, Bill Bernstein has further burnished his credentials as both an economic historian and a felicitous writer. He has given us an eye-opening, brilliantly researched, anecdote-laced, and exciting-to-read history of global trade. Readers of this compelling saga will be intellectually rewarded, enticed, and amused--and more sensitively attuned to the challenges of today's version of the globalization that has driven so much of civilization's economic growth and social progress."
--John C. Bogle, founder, the Vanguard Group

"A Splendid Exchange is filled with adroit observations on the evolution of trade from the ancient world to today. Bernstein draws upon a vast historical context to show how trade's development is part of society's natural progression toward prosperity, and he makes a convincing case that trade and trade policy have been the catalyst for the development of ambitious nations. He correctly asserts that we must be aware of how it has shaped the past because it will continue to have a pivotal role--for better and for worse--as we move into the future. Politicians take heed!"
--Arthur Laffer, founder and chairman, Laffer Associates

"Bernstein illuminates modern debates in a sweeping history of international trade, weaving skillfully between rollicking adventures and scholarship. His history of trade from the ancients to the present is a story of our irrepressible urge to exchange goods, which in turn fostered exchanges of art, science, and ideas. The story of trade is the story of humankind; all in all, a happy story indeed."
--Pietra Rivoli, author of The Travels of a T-Shirt in the Global Economy

"Think contentious debate over globalization is something new? Think again. With a staggering understanding of the role of trade in history and a storyteller's touch for illuminating its human impact, William Bernstein takes us back to days of `ghost ships' and perilous land journeys to explain how age-old debates over trade's winners and losers shape today's bitter divisions over free trade and protectionism. Along the way, Bernstein uncovers the roots of Sino-American trade tensions and explains how century-old backlashes over free trade continue to reverberate as the world's nations become ever more connected to each other through commerce. Bernstein has given us a master's insights into the past to help us understand an issue of deep divisions in the present age."
--Sara Bongiorni, author of A Year Without "Made in China"

"Bernstein's powerful book demonstrates that trade is a fascinating, pervasive, and often dominant factor in human history. But Bernstein also provides us with memorable stories about nations around the world and through the centuries. Economics, sociology, military strategy, and even health care are here, as well as a striking group of vivid personalities. The book is not just essential reading; it is fun all the way."
--Peter L. Bernstein, author of Against the Gods

"Bill Bernstein is a funny, lively storyteller who engages us with rich stories that tell how international trade and economic history have evolved together from the Stone Age on. This book is a wonderful way to learn history, geography and economics. As I read it, I felt like a kid reading about Uncle Scrooge's adventures among old civilizations in strange lands, all the while harvesting ideas for my classes."
--Ed Tower, professor of economics, Duke University

Customer Reviews

The best book I read in 2008!
I first heard the author of this book on a podcast and was so impressed that I ran out and bought the book immediately. This book takes you from ancient times all the way to the WTO and the "Battle of Seattle" and shows you how trade evolved and has effected history.

While I did study history in College, I am a computer programmer by trade and enjoyed this very much. To understand the concepts in this book is to understand not only the history of the world, but you will understand the challenges we face today from a different perspective.

Chapters provide a lively history of the principles of trade and their evolution
A SPLENDID EXCHANGE: HOW TRADE SHAPED THE WORLD focuses on world trade trends from early times to modern times. Traders introduced new commodities into the marketplace, bringing with them new ideas and concepts, and introduced 'miracles' to those unfamiliar with changing technology or world products. Chapters provide a lively history of the principles of trade and their evolution, and make for a strong and revealing collection.

Diane C. Donovan
California Bookwatch

Very entertaining and informative book
The title says it all. 50% done. Really fascinating. Amazing how the fortunes of west, east, and middle east have risen and fallen due to (spices, the plague, islam, catholicism, exploration, naval technology, etc...).