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WINNER OF THE BANCROFT PRIZE • A Pulitzer Prize finalist that's as unsettling as it is enlightening: a book that brilliantly weaves together the story of cotton with how the present global world came to exist. “Masterly … An astonishing achievement.” —The New York Times The empire of cotton was, from the beginning, a fulcrum of constant global struggle between slaves and planters, merchants and statesmen, workers and factory owners. Sven Beckert makes clear how these forces ushered in the world of modern capitalism, including the vast wealth and disturbing inequalities that are with us today. In a remarkably brief period, European entrepreneurs and powerful politicians recast the world’s most significant manufacturing industry, combining imperial expansion and slave labor with new machines and wage workers to make and remake global capitalism.
This book includes every aspect of the cotton trade, starting with the history and background, its growth and production patterns. It goes on to examine the international trade itself, the key players, recent trends, and a look at cotton prices, forecasting, and the factors that affect the cotton price. The author looks at end uses for cotton by analysing the garment industry as a whole and the competition for cotton. This is related to cotton consumption and the global economics of this commodity. The final chapter looks to the future and attempts to forecast trends for the industry over the coming years.
The popular fashion for Indian calicos in the seventeenth century and the genesis of the British cotton industry in the eighteenth century reflected new consumer forces at work within Britain. The East India trade encouraged new patterns of domestic demand in Britain, patterns which were not eradicated even with the prohibition of most Indian fabrics in 1721. Parliamentarians and clergy decried the spread of popular fashions that diminished visible social distinctions and undercut traditional manufactures.