The era of liberal triumph began with a defeated revolution and ended in a prolonged depression. The first forms a more convenient signpost for marking the beginning or end of a historical period than the second, but history does not consult the convenience of historians, though some of them are not always aware of it. The Age of Capital (1975)
When we write the ‘world history’ of earlier periods, we are in fact making an addition of the histories of the various parts of the globe, but which, in so far as they had knowledge of one another, had only marginal and superficial contacts, unless the inhabitants of some region had conquered or colonized another, as the west Europeans did the Americas. The Age of Capital (1975)