Perilous Passage: Mankind and the Global Ascendancy or Capital

Investigating the emergence of the states on the North Atlantic seaboard as prosperous and powerful nations, and their eventual domination overthe rest of the world, Perilous Passage presents an engaging account of the economic emergence of the contemporary world. Differing radically from the ‘free market’ theorists, Bagchi provides a much-needed alternative perspective of global economic history from sixteenth century to contemporary times. The author brings together insights of historians of war and those of Marxist and world-system theorists to characterize the emergence and operation of capitalism. Moving beyond the ‘European miracle’ and a Eurocentric vision, he provides a comprehensive history and the reciprocal impact of the extra-European world. Bagchi also explores the numerous ways in which the armed ascendancy of European capitalism impacted the human development of different countries. Going beyond existing interpretative frameworks, this book highlights the role of capitalist competition for markets, raw materials, territories, and human labour. It interweaves the ideologies governing the conquering career of capitalism. The author also situates the neo-global order against the backdrop of antisystemic struggles, wars, and contradictory movements within global capital. The uniqueness of this volume also lies in presenting a global history, which for the first time puts human development at centre stage. Departing from the triumphalist account of development of currently advanced countries, it treats the development of all peoples of the world as being equally important.