-
500 BCE
Neolithic Revolution
After the Neolithic Revolution, hunter-gatherers evolved into
sedentary societies that specialized in food crops -
100
Trading routes expanded to distant parts
The Roman Empire managed an extensive network of trade, which bound together Europe, western Asia, and Northern Africa. -
420
The collapse of the western part of the Roman Empire
It brought many of developments to a halt. Long-distance trade continued. -
700
Carolingian Empire
Europeans started to to import exotic medicines and new drugs developed by Arab pharmacology. -
1000
The silk Road
The Silk Road was a network of trade routes which linked the regions of the ancient world in commerce. -
1492
The discovery of America
This event had monumental efects on world history and on long-distance trade. -
The industrial revolution
-
Paradigms of foreign trade by David Ricardo
-
Latter by Eli Heckscher and Bertil Ohlin
The latter explained foreign trade by diFerences
in factor endowments -
First major revolution in trade theory
-
Second revolution in trade theory
This time focusing on characteristics of individual firrms and how they engage in international transactions.
