Historical Developments in Unit 9.4 - Economics in the Global Age

• In a trend accelerated by the end of the Cold war, many governments encouraged free-market economic policies and promoted economic liberalization in the late 20th century.

• In the late 20th century, revolutions in information and communication technology led to the growth of knowledge economics in some regions, while industrial production and manufacturing were increasingly situated in Asia and Latin America.

• Changing economic institutions, multinational corporations, and regional trade agreements reflected te spread of principles and practices associated with free-market economics throughout the world.

Additional Resources 9.4