ABSTRACT
The science of the nineteenth-century industrialized civilization, it annihilated the distances of the world. Continents ceased to be separated from one another, Buenos Aires became neighbour to London. Economic exploitation proceeded upon a scale which required whole continents for its satisfaction. The new industrialism demanded ever more raw materials, and then ever more markets in which to dispose of the finished product. The American tariff has had decisive ramifications upon the social history of Western Europe. A reckless credit policy by a small Austrian bank alters not only our power to maintain the standards of unemployment insurance, but the whole incidence, at least for a period, of the distribution of English political power. The nationalism of Western Europe sought to organize all Asia for its economic profit, and the result has been a widespread and conscious revolt of Asia against European domination.
