Describe the Great Divergence (or Reversal of Fortune) that took place in the world from around 1500 to around 1850, both in terms of average incomes as well as outlines of changes in mode of production. In terms of national incomes and wealth, how did Europe jump ahead of Asia, Africa, and the Americas? Two broad schools of thought seek to explain the Great Divergence, which we have termed ‘culturalist’ and ‘world systems throught’ explanations. Describe the main ideas of each. What’s at stake with these theories? Which one makes more sense to you, and why?
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