The Good Fight Sven Beckert on How Capitalism Made the Modern World
Nov 29, 2025
Sven Beckert, a Harvard historian and expert on global capitalism, brings a wealth of knowledge to his discussion. He explores capitalism's deep roots, emphasizing its emergence long before the Industrial Revolution. Beckert debunks common misconceptions, highlighting the role of merchants as early capitalists across various cultures. He argues that capitalism is not static and challenges the idea of 'late-stage capitalism' by showcasing its dynamic evolution. Through engaging examples, he underscores that capitalism is human-made, inviting collective change.
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Capitalism Is Historically Contingent
- Capitalism must be understood historically, not as an abstract timeless system.
- Its forms and mechanisms changed drastically over the past 500–1,000 years.
Capitalism Is A Global, Rural Story
- Capitalism cannot be reduced to European history alone; global connections matter centrally.
- Much of early capitalist development occurred outside cities, especially in agriculture and countryside life.
Aden Merchants As Early Capitalists
- Beckert begins his narrative in Aden around the 10th–12th centuries, tracing merchant communities there.
- These merchants acted with recognizably capitalist motives centuries before industrial capitalism emerged.
