What is today's global economy?

There still were a global economy back in the 13th Century (i.e. the Spice trade and Silk route). Its just that the current global economy is a more evolved form of Globalization. trailing WW2, the economic thinking remained static in the East-European blocs. The economic thinking of the the US also remained mostly static, other than a few deviations and envy towards the Socialism/Communism in the terms of FDR, Harry Truman, Dwight D. Eisenhower and Nixon.