A history of global capitalism: feuding elites and imperial expansion

Bhattacharyya, Sambit (2020) A history of global capitalism: feuding elites and imperial expansion. Frontiers in Economic History . Springer Nature, Switzerland. ISBN 9783030587352

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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.

Item Type: Book
Keywords: Global Capitalism, Imperial Expansion, Economic Growth, Elite Feuds, Geopolitics, Balance of Power
Schools and Departments: University of Sussex Business School > Economics
SWORD Depositor: Mx Elements Account
Depositing User: Mx Elements Account
Date Deposited: 24 Aug 2020 07:01
Last Modified: 25 Jan 2021 16:19
URI: http://sro.sussex.ac.uk/id/eprint/93248

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