A review by inquiry_from_an_anti_library
Capitalism: A Short History by Jürgen Kocka

adventurous informative reflective fast-paced

3.0

Is This An Overview?

What defines capital and capitalism has changed.  Capital used to mean money in the process of making more money.  Then expanded into any asset that obtains a profit.  Capitalism came into being as a criticism of the class society.  Capitalism has become a set of aspects which are based on decentralized decision making, commodification, and accumulation.  Within capitalism, markets are the form in which people coordinate and distribute resources.  Capitalism uses various means to expand, to make investments that have an opportunity for greater future reward.   The more global a market is, the more sales opportunities there are. 

The philosophers during the Enlightenment era witnesses destructive wars undertaken by governments, which lead them to seek alternative decision making methods.  Enlightenment philosophers provided a defense for market capitalism, as it could be used as a civilizing force.  The state and market may often be seen in opposition to each other, for they rely on different methods and procedures.  But markets and political power cannot be readily separated.  Capitalists have used government influence to shape production.  To protect their assets, even against competition.  The state and market have different functions, but each relies on the other’s function, to function.  Capitalism also has inherent problems, such as business cycles.  Capitalism values individualism, but too much individualism breaks social ties.  Firms under capitalism can behave in inappropriate ways to earn a profit, such as exploit labor.  Firm behavior that gave rise to labor movements. 

 

Caveats?

This book contains a diverse global history on the methods of capitalism.  Although there is a vast range of history, there is very little content on each historic example and explanation.  Most examples serve as proofs of concept rather than build comprehension of the topic.  Readers who already know more details about the examples are in a better position to understand the context of the ideas.

Social values change.  There are various historical state and market features that have become derided because of the change in values.  Although the author sometimes acknowledges that states have used what has become inappropriate methods of production, the author generally highlights capitalisms involvement in the inappropriate methods of production.  The negative consequences of capitalism are provided, but not the same aspects and consequences within state operations.