By focusing on a sector that until 1900 was the world's most important manufacturing industry, Sven Beckert offers a fine account of 900 years of globalisation.

直到1900年，棉花都是世界上最重要的制造产业，作者专注于其900年的全球化历史。

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As depicted by Mr Beckert, gilded-age New York suggests that, in one respect, Alexis de Tocqueville judged too soon.

ECONOMIST: High society in New York

The Czech obliterated her opponents with a time of four minutes 02.53, over two seconds ahead of Germany's Stephanie Beckert, who took silver.

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But that changed dramatically, Mr Beckert explains, in the second half of the 19th century, when a few very rich families came to exercise extraordinary influence.

ECONOMIST: High society in New York