By Giovanni Arrighi
Winner of the yankee Sociological organization PEWS Award for uncommon Scholarship: a complete research of the advance of global capitalism over the millennium.
The lengthy 20th Century lines the connection among capital accumulation and kingdom formation over a 700-year interval. Arrighi argues that capitalism has opened up as a succession of “long centuries,” every one of which produced a brand new international energy that secured regulate over an increasing world-economic area. reading the altering fortunes of Florentine, Venetian, Genoese, Dutch, English and at last American capitalism, Arrighi concludes with an exam of the forces that experience formed and are actually poised to undermine America’s international dominance. A masterpiece of ancient sociology, The lengthy 20th Century opponents in scope and ambition modern classics through Perry Anderson, Charles Tilly and Michael Mann.
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Extra resources for The Long Twentieth Century: Money, Power and the Origins of Our Times (New and Updated Edition)
It is at this point that our construction and comparison of systemic cycles of accumulation will begin. ” The cycles are not presumed but constructed, both factually and theoretically, with the explicit purpose of gaining some understanding of the logic and likely outcome of the present financial expansion. The comparison is incorporated into the very definition of the research problem: it constitutes the substance rather than the framework of the inquiry. The cycles that emerge from the inquiry are neither subordinated parts of a preconceived whole, nor independent instances of a condition; they are interconnected instances of a single historical process of capitalist expansion which they themselves constitute and modify.
Territorialist rulers tend to increase their power by expanding the size of their container. Capitalist rulers, in contrast, tend to increase their power by piling up wealth within a small container and increase the size of the container only if it is justified by the requirements of the accumulation of capital. The antinomy between a capitalist and a territorialist logic of power should not be confused with Charles Tilly’s distinction between a “coercion-intensive,” a “capital-intensive,” and an intermediate the three hegemonies of historical capitalism 35 “capitalized coercion” mode of state- and war-making.
Holland had ceased to be the nation preponderant in commerce and industry. One of its main lines of business, therefore, [became] the lending out of enormous amounts of capital, especially to its great rival England. [And the] same thing is going on to-day between England and the United States. (Marx 1959: 755–6) Marx, however, failed to notice that the sequence of leading capitalist states outlined in this passage consists of units of increasing size, resources, and world power. All four states – Venice, the United Provinces, the United Kingdom, and the United States – have been great powers of the successive epochs during which their ruling groups simultaneously played the role of leader in processes of state formation and of capital accumulation.
The Long Twentieth Century: Money, Power and the Origins of Our Times (New and Updated Edition) by Giovanni Arrighi