The Age Of Capital
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The first and best, major treatment of the crucial years 1848-1875,
a penetrating analysis of the rise of capitalism throught the
world. In the 1860s a new word entered the economic and political
vocabulary of the world: 'capitalism'. The global triumph of
capitalism is the major theme of history in the decades after
1848.It was the triumph of a society which believed that economic
growth rests on competitive private enterprise, on success in
buying everything in the cheapest market (including labour) and
selling it in the dearest. An economy so based, and therefore
nestling naturally on the sound foundations of a bourgoisie
composed of those whom energy, merit and intelligence had raised to
their position and kept there, would - it was believed - not only
create a world of suitably distributed material plenty but of
ever-growing enlightenment, reason and human opportunity, an
advance of the sciences and the arts, in brief a world of
continuous and accelerating material and moral progress.
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