Capitalism - by Sven Beckert (Hardcover)

Book Synopsis

A landmark event years in the making, a brilliant global narrative that unravels the defining story of the past thousand years of human history

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 organize our politics. Sven Beckert, author of the Bancroft Prize-winning Empire of Cotton, places the story of capitalism within the largest conceivable geographical and historical framework, tracing its history during the past millennium and across the world. An epic achievement, his book takes us into merchant businesses in Aden and car factories in Turin, onto the terrifyingly violent sugar plantations in Barbados, and within the world of women workers in textile factories in today's Cambodia.

Capitalism, argues Beckert, was born global. Emerging from trading communities across Asia, Africa, and Europe, capitalism's radical recasting of economic life rooted itself only gradually. But then it burst onto the world scene, as a powerful alliance between European states and merchants propelled them, and their economic logic, across the oceans. This, Beckert shows, was modern capitalism's big bang, and one of its epicenters was the slave labor camps of the Caribbean. This system, with its hierarchies that haunt us still, provided the liftoff for the radical transformations of the Industrial Revolution. Fueled by vast productivity increases along with coal and oil, capitalism pulled down old ways of life to crown itself the defining force of the modern world. This epic drama, shaped by state-backed institutions and imperial expansion, corresponded at no point to an idealized dream of free markets.

Drawing on archives on six continents, Capitalism locates important modes of agency, resistance, innovation, and ruthless coercion everywhere in the world, opening the aperture from heads of state to rural cultivators. Beckert shows that despite the dependence on expansion, there always have been, and are still, areas of human life that the capitalist revolution has yet to reach.

By chronicling capitalism's global history, Beckert exposes the reality of the system that now seems simply "natural." It is said that people can more easily imagine the end of the world than the end of capitalism. If there is one ultimate lesson in this extraordinary book, it's how to leave that behind. Though cloaked in a false timelessness and universality, capitalism is, in reality, a recent human invention. Sven Beckert doesn't merely tote up capitalism's debits and credits. He shows us how to look through and beyond it to imagine a different and larger world.

Review Quotes

"A clarity that Karl Marx could only long for . . . Beckert's agile account marches through the emergence of mercantilism and the invention of double-entry bookkeeping and proceeds through plantation and wage slavery, colonialism and postcolonialism, and a managerial/bureaucratic golden age . . . A comprehensive and up-to-date history, essential." --Kirkus (starred review)

"Sven Beckert has written what will surely become a key reference on the global history of modern capitalism. A monumental book, a must-read." --Thomas Piketty, author of Capital in the Twenty-First Century

"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.' Beginning with the rapid expansion of trade and capital around the port of Aden in the twelfth century, the gripping history comes all the way to our time, telling us about commerce, technology and innovations, but also about people's lives, worries and questions. One of the striking features of this splendid book is the avoidance of Eurocentrism in telling the story of capitalism. The global history, in this case, is truly global." --Amartya Sen, Winner of the Nobel Prize in Economics

About the Author

Sven Beckert is the Laird Bell Professor of History at Harvard University. Holding a PhD from Columbia University, he has written widely on the economic, social, and political history of capitalism. His book Empire of Cotton won the Bancroft Prize, was a finalist for the Pulitzer Prize, and was named one of the ten best books of the year by The New York Times. An elected member of the American Academy of Arts and Sciences, he lives in Cambridge, Massachusetts.