Capitalism

A brilliant global narrative that unravels the defining story of the past thousand years 'In this magnificent history of capitalism, Sven Beckert presents an exceptionally illuminating account of the thousand years of what he calls (correctly, I think) ‘the most impactful revolution the world has ever seen.’ -Amartya Sen, Winner of the Nobel Prize in Economics 'Sven Beckert has written what will surely become a key reference on the global history of modern capitalism, from 1450 until the present day. A monumental book, a must-read.' - Thomas Piketty, author of Capital in the Twenty-First Century No other phenomenon has shaped human history as decisively as capitalism. It structures how we live and work, how we think about ourselves and others, how we organise our politics. Sven Beckert situates the story of capitalism within the largest conceivable geographical and historical framework in this fascinating new book. Capitalism, argues Beckert, was born global. Emerging from merchant communities across Asia, Africa and Europe, capitalism’s radical recasting of economic life rooted itself only gradually. Then it burst onto the world scene, as European states and merchants built a powerful alliance that would propel them across the oceans. This epic drama corresponded at no point to an idealised dream of free markets. All along, state-backed institutions and imperial expansions shaped its dynamics. Capitalism decentres the European perspective, highlighting agency, resistance, innovation and ruthless coercion around the world through to the present with the rise of Asian economies, particularly China. Sven Beckert doesn’t merely add up capitalism’s debits and credits in this monumental book, but allows us to think afresh about the past to help us re-imagine the future.