Be that as it may, there has been a notable increase in speed in this process of globalization during the last quarter of the twentieth century. It is commonly assumed that the current situation, in which globalization is changing the character of the world economy, is entirely new and considered new and indicates a major take-off from the past. However, this assumption is incorrect. Globalization is nothing new. To be sure, there was a comparative period of globalization that began a century earlier, around 1870, and accumulated energy until 1914, when it came to an abrupt end. In many ways, the world economy of the mid-21st century has modeled itself on the world economy of the late 19th century. Furthermore, there is much we can gain from history, because there is the past in our present. (Nayyar,