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- Published on: 1773
- Binding: Paperback
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6 of 6 people found the following review helpful.
By rob crawford
Historians, they say, are either lumpers or splitters: the former seek to make generalizations while the latter seek to refute and refine them. Braudel strikes a balance between these approaches, at one time examining the economic point of view (and related theoretical controversies, such as the ideas of Schumpeter on innovation), while searching for historical examples that support or obliterate them. He is a true master scholar.This volume adds to the first, moving from living standards to the establishment and functioning of trading and banking systems, both by capitalists (holders of sufficient resources to manipulate markets) and the merchants and craftsmen who operated within these markets. It is a crucial distinction that demonstrates how simple-minded the ideological argument of "free markets" can be: the rich can and do design economic systems to function to their advantage. You follow the development of international trading networks by Italians, Jews and Armenians; the evolution of banking and the handling of paper money; and even the influence of social hierarchies on economic growth.While Braudel concentrates almost exclusively on Europe in this volume, which lessens the universality of his approach, it is utterly fascinating from page one. The economic systems he analyses were somewhat incomplete, though evolving rapidly. An additional limit to his approach is the exclusive focus on econimic life. At times, he views the building of chateaux and the commission of great works of art from the Reanassance to the 19C as a reflection of the lack of wealth-generating investment opportunities during a time of economic revolution!And that is just a few of the issues covered. Each section of the book is like an essay on some basic economic notion. As such, the book assumes a great deal of historical knowledge in the reader, though Braudel often explains what he refers to briefly. For me, this added to its appeal and density, but it is often hard going. However, the book is leavened by wonderful and fascinating illustrations, which eases the task of getting through it at times.Highly recommended.
2 of 2 people found the following review helpful.
By rob crawford
Although this book at times could get a bit too technical, it is a fascinating synthesis of information on the economic world as it was. THere is nowhere I know that you can learn so much about what life was like over the several hundred years just prior to the industrial revolution. Every page has some delicious tidbit that makes readers reflect on their lives. For the most part, subjects that are usually written about in a dull manner, such as demographic trends or aggregate food consumption statistics, are translated into readable prose. THus, the book succeeds both for laymen and specialists, a very hard balance to strike.It greatly enriched my intellectual experience. I read it on an extended trip to China, where it gave me a huge battery of questions to ask about the fields I was observing, the organization of its cities, and even the fashion choices of the people. On my return home to Europe, it also informed so much of what I thought for weeks on end, as I reassessed my surroundings and even pondered where I fit into society. Not many economics books can do all that!
0 of 1 people found the following review helpful.
By Miketang
A great achievement of factual collation across a broad chronological and socio-economic sphere. However, the plethora of detail sometimes overwhelms the overarching theme of the development of capitalism. There are some fascinating narratives of micro-history and glimpses into the minds and actions of proto-capitalists, as well as the societies within which they functioned - France and Spain, as well as England and Holland and further afield in Asia and the New World. It's interesting to note that the fortunes from early colonies were usually made not by the colonial producers but by the merchants and pre-capitalist financiers parlaying through exchange products for which they paid little into European currency worth multiple times the cost price. An explanation, perhaps, of how modern-day developed countries still manage to cream off the surplus value of countries rich in commodities, leaving poverty and sometimes famine in the midst of plenty. Also interesting to note that types of joint stock company (or associations) developed in trading even before the creation of the Muscovy Company in 1535,as pre-capitalism came into its own in large-scale, high risk overseas ventures needing large initial outlay and the ability to tolerate long waits until their ships literally "came in". The volume is a treasury of such details, although it is difficult to synthesize them into a final conclusion. The weakest spot is the treatment of the Far East tacke don at the end, which relies heavily on Norman Jacobs and some rather sparse evidential material to draw some sweeping extrapolations and comparisons with developments in Europe - some seductive correlations, unfortunately not supported by the factual underpinning. Inevitably there are longueurs. Nevertheless, it is well worth the effort to persevere and - as said elsewhere, the journey is relieved by many fine illustrations. (If only some of them could have been in colour.) A sometimes hard slog, but a magnificent work of scholarship that should long endure.
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