A History of Global Capitalism: Feuding Elites and Imperial

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A History of Global Capitalism: Feuding Elites and Imperial Expansion

Business & Economics > Economic History

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PublisherSpringer
Book FormatHardcover
ISBN-139783030587352
PublishedApr 14 2021
Dimension9.21 X 6.14 X 0.63 inches
Weight 1.18 pounds
BISACBusiness & Economics > Economic History
Categories(Single Author) Asian American
LanguageEnglish

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Book Description

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.

Author Bio

Dr Sambit Bhattacharyya is a Reader in Economics at the University of Sussex. Prior to joining Sussex, Dr Bhattacharyya had academic appointments at the University of Oxford, The Australian National University and RMIT.

He holds a PhD in Economics from The Australian National University. Dr Bhattacharyya has published over 30 journal articles and made significant contributions to the fields of development economics, economic history and political economy.

He is the author of two books entitled A History of Global Capitalism: Feuding Elites and Imperial Expansion and Growth Miracles and Growth Debacles: Exploring Root Causes.

Dr Bhattacharyya co-edits the journal Review of Development Economics, appears on TV and Radio programs and advises governments on public policy issues. He is an Associate Editor of the Review of Development Economics.

His research interests are in the areas of development economics, macroeconomics, and economic history.

Source: Australian National University

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