A History of Global Capitalism : Feuding Elites and Imperial Expansion
2020 ed.
Book Details
Format
Paperback / Softback
Book Series
Frontiers in Economic History
ISBN-10
303058738X
ISBN-13
9783030587383
Edition
2020 ed.
Publisher
Springer Nature Switzerland AG
Imprint
Springer Nature Switzerland AG
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Nov 2nd, 2021
Print length
239 Pages
Ksh 12,600.00
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The book sets out to explore the economic motivations of imperial expansion under capitalism. First, what factors explain the divergence in living standards across countries under the capitalist economic system?
The book sets out to explore the economic motivations of imperial expansion under capitalism. This undoubtedly is related to two fundamental research questions in economic sciences. First, what factors explain the divergence in living standards across countries under the capitalist economic system? Second, what ensures internal and external stability of the capitalist economic system? The book adopts a unified approach to address these questions.
Using the standard growth model it shows that improvements in living standards are dependent on access to raw materials, labour, capital, technology, and perhaps most importantly ''economies of scale''. Empires ensure scale economy through guaranteed access to markets and raw materials. The stability of the system depends on growth and distribution and it is not possible to have one without the other. However, the quest for growth and imperial expansion implies that one empire invariably comes into conflict with another. This is perhaps the most unstable and potentially dangerous characteristic of the capitalist system. Using extensive historical accounts the book shows that this inherent tension can be best managed by acknowledging mutual spheres of influence within the international system along the lines of the 1815 Vienna Congress.
This timely publication addresses not only students and scholars of economics, geography, political science, and history, but also general readers interested in a better understanding of economic development, international relations, and the history of global capitalism.
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