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In this Very Short Introduction James Fulcher considers what capitalism is, the forms it can take around the world, and its history of crises and long-term development. In this new edition he discusses the fundamental impact of the global financial crises of 2007-8 and what it has meant for capitalism worldwide.
In Marx’s Experiments and Microscopes Paolucci provides a novel framework for understanding how Marx’s dialectical roots animated his scientific practice and how this approach informs studies in political economy and the sociology of religion.
A richly textured ethnography about knitwear manufacturers in South India that explains how peasant-workers have refined notions of place, gender, and class to create a local industrial form that succeeds in the global economy.
Slavery helped finance the Industrial Revolution in England. Plantation owners, shipbuilders, and merchants connected with the slave trade accumulated vast fortunes that established banks and heavy industry in Europe and expanded the reach of capitalism worldwide. Eric Williams advanced these powerful ideas in Capitalism and Slavery, published in 1944. Years ahead of its time, his profound critique became the foundation for studies of imperialism and economic development. Binding an economic view of history with strong moral argument, Williams's study of the role of slavery in financing the Industrial Revolution refuted traditional ideas of economic and moral progress and firmly established the centrality of the African slave trade in European economic development. He also showed that mature industrial capitalism in turn helped destroy the slave system. Establishing the exploitation of commercial capitalism and its link to racial attitudes, Williams employed a historicist vision that set the tone for future studies. In a new introduction, Colin Palmer assesses the lasting impact of Williams's groundbreaking work and analyzes the heated scholarly debates it generated when it first appeared.
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The first volume of The Cambridge History of Capitalism provides a comprehensive account of the evolution of capitalism from its earliest beginnings. Starting with its distant origins in ancient Babylon, successive chapters trace progression up to the 'Promised Land' of capitalism in America. Adopting a wide geographical coverage and comparative perspective, the international team of authors discuss the contributions of Greek, Roman, and Asian civilizations to the development of capitalism, as well as the Chinese, Indian and Arab empires. They determine what features of modern capitalism were present at each time and place, and why the various precursors of capitalism did not survive. Looking at the eventual success of medieval Europe and the examples of city-states in northern Italy and the Low Countries, the authors address how British mercantilism led to European imitations and American successes, and ultimately, how capitalism became global.
Immanuel Wallerstein develops a thorough-going critique of the legacy of nineteenth-century social science for social thought in the new millennium. We have to "unthink"-radically revise and discard-many of the presumptions that still remain the foundation of dominant perspectives today. Once considered liberating, these notions are now barriers to a clear understanding of our social world. They include, for example, ideas built into the concept of "development." In place of such a notion, Wallerstein stresses transformations in time and space. Geography and chronology should not be regarded as external influences upon social transformations but crucial to what such transformation actually is. Unthinking Social Science applies the ideas thus elaborated to a variety of theoretical areas and historical problems.
Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.