The Fungus That Conquered Europe

Globalization delivers both problems and solutions, and parallels can be found in the Great Potato Famine of 1845-46 and the current subprime mortgage crisis. The fungus, after originating in Mexico and spreading throughout the US, attacked Europe’s potato fields in the mid-1840s and led to widespread famine. The crisis prompted Britain to dismantle bureaucratic and protectionist Corn Laws that limited free trade, allowing Europeans to import staples from the US. Likewise, a subprime mortgage crisis may inhibit any protectionist urges emerging in the US, where bankers and businesses have been forced to turn to foreign investors for cash infusions. – YaleGlobal