Perilous Passage

Book excerpt: 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.