What if the electric telegraph had gone differently?

For the first time, a message outruns the messenger.

If it had gone differently: News and prices still travel at the speed of a ship; markets and empires stay loosely coupled.

1. 1866The transatlantic telegraph cable, The Atlantic economy stays ten days wide; London and New York never quite move as one market.
2. 1870The first globalisation, The world economy stays a patchwork of regions; no belle-époque boom, and no 1914 shock when it unwinds.
3. 1876The telephone, Business and government keep running on letters and telegrams; the pace of decisions stays a day slow.