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Full Description
In this authoritative and accessible book, one of the world's most renowned historians provides a concise and comprehensive history of capitalism within a global perspective from its medieval origins to the 2008 financial crisis and beyond. From early commercial capitalism in the Arab world, China, and Europe, to nineteenth- and twentieth-century industrialization, to today's globalized financial capitalism, Jurgen Kocka offers an unmatched account of capitalism, one that weighs its great achievements against its great costs, crises, and failures. Based on intensive research, the book puts the rise of capitalist economies in social, political, and cultural context, and shows how their current problems and foreseeable future are connected to a long history. Sweeping in scope, the book describes how capitalist expansion was connected to colonialism; how industrialism brought unprecedented innovation, growth, and prosperity but also increasing inequality; and how managerialism, financialization, and globalization later changed the face of capitalism.
The book also addresses the idea of capitalism in the work of thinkers such as Marx, Weber, and Schumpeter, and chronicles how criticism of capitalism is as old as capitalism itself, fed by its persistent contradictions and recurrent emergencies. Authoritative and accessible, Capitalism is an enlightening account of a force that has shaped the modern world like few others.
Contents
Preface to the English Edition vii 1. What Does Capitalism Mean? 1 The Emergence of a Controversial Concept 1 Three Classics: Marx, Weber, and Schumpeter 7 Other Voices and a Working Definition 16 2. Merchant Capitalism 25 China and Arabia 26 Europe: Dynamic Latecomer 35 Interim Findings around 1500 49 3. Expansion 54 Business and Violence: Colonialism and World Trade 54 Joint-Stock Company and Finance Capitalism 58 Plantation Economy and Slavery 65 Agrarian Capitalism, Mining, and Proto-Industrialization 70 Capitalism, Culture, and Enlightenment: Adam Smith in Context 84 4. The Capitalist Era 95 The Contours of Industrialization and Globalization since 1800 96 From Ownership to Managerial Capitalism 104 Financialization 114 Work in Capitalism 124 Market and State 145 5. Analysis and Critique 162 Notes 171 Bibliography 181 Index of Names 197
