In this innovative and ambitious global history, distinguished economic historian Amiya Kumar Bagchi traces the global history of human change and survival under the sway of capitalism since the voyages of Columbus. Writing with extraordinary range and depth, he offers a critical analysis of the history and human costs and consequences of development in Europe and North America, and in major regions such as India, China, Japan, and Africa. Bagchi critically characterizes the emergence and operation of capitalism as a system driven by wars over resources and markets rather than one that genuinely operates on the principle of free markets. His unflinching examination of the human toll—in the periphery as well in the core nations—includes not only economic processes and issues of inequality within and among nations, but also the intertwining of economics and war-making on a world scale. Bagchi's compelling vision will change the ways in which we think about many of the largest issues in the world history and development over the past 500 years.
This book provides a historical background to the formation of the Indian capitalist class from before British colonial rule in India. It analyses the nature of that class, the ways in which it changed under colonial rule, and the state of independent India; it also sets some of the peculiarities of capitalist organization in India and the ideology of big capital in their historical context. The evolution of the working class in India is analysed in its dialectical interaction with global capital and Indian capitalism. The author challenges the view that the tensions within working class movements caused by caste, communal divisions or gender discrimination are to be attributed to primordial loyalties, emphasizing instead the influence of the deliberate strategies adopted by capitalists and of changes in the structure of global and Indian capitalism. Finally, the book investigates the impact of capital-friendly liberalization on the fortunes of the working class in the Third World.
Amiya Kumar Bagchi’s Merchants and Colonialism is a landmark work in economic history and sociology. The author shows us how colonial rule put traders and manufacturers under immense pressure, forcing them to look for survival strategies in a changed economic environment. This resulted in long-term de-industrialization and irreversible damage to traditional modes of production, which had far-reaching economic consequences for India after Independence.
This book offers a unique re-conceptualization of Marxism in bringing together leading scholars across disciplines — history, philosophy, economics, politics, sociology, and literary and culture studies — into one comprehensive corpus. It demonstrates the engaging relevance of the perspectives and techniques of the analyses adopted by Karl Marx, Frederich Engels and contemporary Marxists, and will be immensely useful to scholars and researchers across social sciences as well as general readers interested in Marxism.
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