9781844673049-frontcover-max_221

The Long Twentieth Century: Money, Power and the Origins of Our Times

A comprehensive analysis of the development of world capitalism over seven hundred years.
The Long Twentieth Century traces the relationship between capital accumulation and state formation over a 700-year period. Arrighi argues that capitalism has unfolded as a succession of “long centuries,” each of which produced a new world power that secured control over an expanding world-economic space. Examining the changing fortunes of Florentine, Venetian, Genoese, Dutch, English and finally American capitalism, Arrighi concludes with an examination of the forces that have shaped and are now poised to undermine America’s world dominance. A masterpiece of historical sociology, The Long Twentieth Century rivals in scope and ambition contemporary classics by Perry Anderson, Charles Tilly and Michael Mann.

Reviews

  • “A vivid, fact-filled expose of the cyclical monetary forces that surge through human society.”
  • The Long Twentieth Century has the grandeur of a sprawling epic and the schematic grace of a Richard Neutra blueprint... It is the single most useful text on offer for anyone who wants to narrate the story of world capitalism—from its nascent form on the rim of the Mediterranean to the current reach of the United States’ empire, and beyond.”

Blog

  • Post-crash economics: a reading list

    Neoliberal economics isn't working and students are demanding more from their course reading than the 8th edition of Macroeconomics can provide. Following the news that Economics students in Manchester have formed the Post-Crash Economics Society and Aditya Chakrabortty's excoriating and controversial commentary on the state of contemporary economics, published in the Guardian, Verso presents a reading list of economics titles which challenge the mainstream neoliberal consensus and offer powerful alternative models in contemporary economics.
     


    First up, Wolfgang Streeck's analysis of the 2008 financial crisis, Buying Time: The Delayed Crisis of Democratic Capitalism.
    Placing the crisis in the context of the neoliberal transformation of society that began in the 1970s, Streeck's focus is on the tensions that this has produced between states, voters and capitalist enterprises. Buying Time asks fundamental questions about the compatibility between democracy and contemporary forms of capitalism. 
    Read Streeck's excellent article on the end of capitalism at the New Left Review website.

    Continue Reading

  • EXCLUSIVE EXTRACT - Chapter One of Utopia or Bust by Benjamin Kunkel



    All this week we will be bringing you an exclusive serialisation of the opening chapter of Benjamin Kunkel's Utopia or Bust. In the chapter entitled 'David Harvey: Crisis Theory', Kunkel begins his examination of the world of Marxist thought and the basis of Western society today with an exploration of Harvey's body of work and contribution to post-Marxian theory.


    The deepest economic crisis in eighty years prompted a shallow revival of Marxism. During the panicky period between the failure of Lehman Brothers in September 2008 and the official end of the American recession in the summer of 2009, several mainstream journals, displaying a less than sincere mixture of broadmindedness and chagrin, hailed Marx as a neglected seer of capitalist crisis. The trend-spotting Foreign Policy led the way, with a cover story on Marx, for its Next Big Thing issue, enticing readers with a promise of the star treatment: “Lights. Camera. Action. Das Kapital. Now.”

    Continue Reading

  • Los Angeles Review of Books challenges the legitimacy of economic soothsayers

    “Autumn of the Empire” is the title to Joshua Clover’s analysis of the current economic crisis, approached within the context of four books reviewed in the Los Angeles Review of Books. Among the titles that Clover discusses are Robert Brenner’s The Economics of Global Turbulence and two books by the late Giovanni Arrighi, The Long Twentieth Century and Adam Smith in Beijing.

    All of the books were first published before the economic bubble burst—a significant detail because like many before him, Clover disputes the retrospective argument that the crisis was unforeseen. More importantly:

    The question of why so many danger cries went unheeded may seem to invite an inquiry into ideological blindness. On a different conceptual plane, however, it may be more interesting to ask instead: What counts as a prediction? Or, perhaps, the practical corollary: Who counts as an economist?

    After all, other thinkers—other sorts of thinkers, concerned with broader understandings than the tightly focused technicians who dominate contemporary debates—grasped the situation at a considerable distance and with remarkable acuity. They mostly don’t appear in surveys of crisis callers, even as their predictions may have the most significant things to tell us about how best to peer from our current vantage, toward the horizon.

    Continue Reading

Other books by Giovanni Arrighi