WINNER OF THE BANCROFT PRIZE • A Pulitzer Prize finalist that's as unsettling as it is enlightening: a book that brilliantly weaves together the story of cotton with how the present global world came to exist. “Masterly … An astonishing achievement.” —The New York Times The empire of cotton was, from the beginning, a fulcrum of constant global struggle between slaves and planters, merchants and statesmen, workers and factory owners. Sven Beckert makes clear how these forces ushered in the world of modern capitalism, including the vast wealth and disturbing inequalities that are with us today. In a remarkably brief period, European entrepreneurs and powerful politicians recast the world’s most significant manufacturing industry, combining imperial expansion and slave labor with new machines and wage workers to make and remake global capitalism.

This book examines the role of mercantile networks in linking Asian economies to the global economy. It contains fourteen contributions on East, Southeast and South Asia covering the period from 1750 to the present.

Commodity Trading, Globalization and the Colonial World: Spinning the Web of the Global Market provides a new perspective on economic globalization in the nineteenth and twentieth centuries. Instead of understanding the emergence of global markets as a mere result of supply and demand or as the effect of imperial politics, this book focuses on a global trading firm as an exemplary case of the actors responsible for conducting economic transactions in a multicultural business world. The study focuses on the Swiss merchant house Volkart Bros., which was one of the most important trading houses in British India after the late nineteenth century and became one of the biggest cotton and coffee traders in the world after decolonization. The book examines the following questions: How could European merchants establish business contacts with members of the mercantile elite from India, China or Latin America? What role did a shared mercantile culture play for establishing relations of trust? How did global business change with the construction of telegraph lines and railways and the development of economic institutions such as merchant banks and commodity exchanges? And what was the connection between the business interests of transnationally operating capitalists and the territorial aspirations of national and imperial governments? Based on a five-year-long research endeavor and the examination of 24 public and private archives in seven countries and on three continents, Commodity Trading, Globalization and the Colonial World: Spinning the Web of the Global Market goes well beyond a mere company history as it highlights the relationship between multinationally operating firms and colonial governments, and the role of business culture in establishing notions of trust, both within the firm and between economic actors in different parts of the world. It thus provides a cutting-edge history of globalization from a micro-perspective. Following an actor-theoretical perspective, the book maintains that the global market that came into being in the nineteenth century can be perceived as the consequence of the interaction of various actors. Merchants, peasants, colonial bureaucrats and industrialists were all involved in spinning the individual threads of this commercial web. By connecting established approaches from business history with recent scholarship in the fields of global and colonial history, Commodity Trading, Globalization and the Colonial World: Spinning the Web of the Global Market offers a new perspective on the emergence of global enterprise and provides an important addition to the history of imperialism and economic globalization.

Considerable attention has recently been focused on the importance of social networks and business culture in reducing transaction costs, both in the pre-industrial period and during the nineteenth century. This book brings together twelve original contributions by scholars in the United Kingdom, continental Europe, and North America which represent important and innovative research on this topic. They cover two broad themes. First, the role of business culture in determining commercial success, in particular the importance of familial, religious, ethnic and associational connections in the working lives of merchants and the impact of business practices on family life. Second, the wider institutional and political framework for business operations, in particular the relationship between the political economy of trade and the cultural world of merchants in an era of transition from personal to corporate structures. These key themes are developed in three separate sections, each with four contributions. They focus, in turn, on the role of culture in building and preserving businesses; the interplay between institutions, networks and power in determining commercial success or failure; and the significance of faith and the family in influencing business strategies and the direction of merchant enterprise. The wider historiographical context of the individual contributions is discussed in an extended introductory chapter which sets out the overall agenda of the book and provides a broader comparative framework for analysing the specific issues covered in each of the three sections. Taken together the collection offers an important addition to the available literature in this field and will attract a wide readership amongst business, cultural, maritime, economic, social and urban historians, as well as historical anthropologists, sociologists and other social scientists whose research embraces a longer-term perspective.