*A New York Times Notable Book * A Financial Times Best Book of the Year

'A learned, formidable and vivid story… Readers around the world will study and ponder this monumental work of history, agreeing and arguing with it, all the while affirming its generational importance, for decades to come' The New York Times

'Epic… Read this book and you will learn innumerable things you did not previously know culled from places you have never been' Financial Times

A brilliant global narrative that unravels the defining story of the past thousand years

No other phenomenon has shaped human history as decisively as capitalism. It structures how we live and work, how we think about ourselves and others, how we organise our politics. Sven Beckert situates the story of capitalism within the largest conceivable geographical and historical framework in this fascinating new book.

Capitalism, argues Beckert, was born global. Emerging from merchant communities across Asia, Africa and Europe, capitalism’s radical recasting of economic life rooted itself only gradually. Then it burst onto the world scene, as European states and merchants built a powerful alliance that would propel them across the oceans. This epic drama corresponded at no point to an idealised dream of free markets. All along, state-backed institutions and imperial expansions shaped its dynamics.

Capitalism decentres the European perspective, highlighting agency, resistance, innovation and ruthless coercion around the world through to the present with the rise of Asian economies, particularly China. Sven Beckert doesn’t merely add up capitalism’s debits and credits in this monumental book, but allows us to think afresh about the past to help us re-imagine the future.