Lapsansky-Werner et al. 

• The modern world has experienced two periods of globalization, both of which brought about new highs in trade and investment.
• Germany and Japan placed their industrialized economies at the disposal of their military ambitions. 
• In the pre-World War I era, Germany had the world's most dynamic economy, and the ambitions of German leaders greatly exceeded creating domestic wealth.

Lapansky Werner

• Traditional economies are very vulnerable to changes in nature, especially the weather.
• Native Americans economies that relied on hunting and fishing were more healthy than those that relied on farming and therefore massed in large, disease-prone communities.

Lapansky Werner

• Many people progress from hunters to farmers where they can place permanent structures and start a society.
• There is rarely a surplus produced. In other words, most of the goods and services are fully used.

Lapansky-Werner

• While there are several advantages to a traditional economy, these economies are not without their disadvantages.
•  Because these economies rely on hunting, fishing, gathering, and the land in the form of farming, when the weather changes, the economy becomes different.

Lapansky Werner

• Since traditional economies center around a family it is easy to use traditions gained from the experience of the elders to guide every day life.
• Native Americans economies that relied on hunting and fishing were more healthy than those that relied on farming and therefore formed suffer in large, disease-prone communities.

Lapansky Werner

• In many cases, a traditional economy may have no official currency whatsoever, with any available wealth going to the upper classes.
• There are big parts of the world's population that still work in traditional economies, primarily in third-world countries with larger indigenous populations.

Lapansky Werener

• Technology and independence are shunned in favor of traditions that have been refined over the years.

Lapansky Werener