Creating global capitalism: An introduction to commodity trading companies and the first global economy

Marten Boon, Espen Storli*

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

Abstract

During the first global economy, commodity trading companies emerged as important organisers of the global trade in commodities. The article has four main aims. In the first part we introduce the existing literature, explain the basics of commodity trading and discuss theoretical concepts and frameworks for understanding the business. In the second part we present the context of the first global economy and discuss why specialised commodity traders started to become important in this period. In the third part we propose a research agenda for using the global value chain framework from institutional economics to provide an appropriate link between the agency of the trading companies and the structural drivers of trade globalisation. In the final part, we introduce the seven articles which make up the special issue.
Original languageEnglish
Pages (from-to)787-802
Number of pages16
JournalBusinesss History
Volume65
Issue number5
Early online date6 Feb 2023
DOIs
Publication statusPublished - 2023

Keywords

  • First global economy
  • commodity trading
  • globalisation
  • international trade
  • natural resources

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