Increasingly, therefore, the formal international structure came to diverge from the real one. International politics became global politics, in whic… - Eric Hobsbawm

A world economy whose pace was set by its developed or developing capitalist core was extremely likely to turn into a world in which the ‘advanced’ dominated the ‘backward’; in short into a world of empire. But, paradoxically, the era from 1875 to 1914 may be called the Age of Empire not only because it developed a new kind of imperialism, but also for a much more old-fashioned reason. It was probably the period of modern world history in which the number of rulers officially calling themselves, or regarded by western diplomats as deserving the title of, ‘emperors’ was at its maximum.

Grassroots historians spend much of their time finding out how societies work and when they do not work, as well as how they change. They cannot help doing this, since their subject, ordinary people, make up the bulk of any society. They start out with the enormous advantage of knowing that they are largely ignorant of either the facts or the answers to their problems. They also have the substantial advantage of historians over social scientists who turn to history, of knowing how little we know of the past, how important it is to find out, and what hard work in a specialized discipline is needed for the purpose. They also have a third advantage. They know that what people wanted and needed was not always what their betters, or those who were cleverer and more influential, thought they ought to have. These are modest enough claims for our trade. But modesty is not a negligible virtue. It is important to remind ourselves from time to time that we don't know all the answers about society and that the process of discovering them is not simple. Those who plan and manage society now are perhaps unlikely to listen. Those who want to change society and eventually to plan its development ought also to listen. If some of them will, it will be due partly to the work of historians like George Rude.

My argument implies that, divorced from history, economics is a rudderless ship and economists without history have not much idea of where it is sailing to. But I am not suggesting that these defects can be remedied simply be getting some charts, that is by paying more attention to concrete economic realities and historical experience. As a matter of fact, there have always been plenty of economists ready and anxious to keep their eyes open. The trouble is that, if in the mainstream tradition, their theory and method as such has not helped them to know where to look and what to look for.