The rise of capitalism to global dominance is still largely associated – by both laypeople and Marxist historians – with the industrial capitalism that made its decisive breakthrough in 18th century Britain. Jairus Banaji’s new work reaches back centuries and traverses vast distances to argue that this leap was preceded by a long era of distinct “commercial capitalism”, which reorganised labor and production on a world scale to a degree hitherto rarely appreciated. Rather than a picture centred solely on Europe, we enter a diverse and vibrant world. Banaji reveals the cantons of Muslim merchants trading in Guangzhou since the eighth century, the 3,000 European traders recorded in Alexandria in 1216, the Genoese, Venetians and Spanish Jews battling for commercial dominance of Constantinople and later Istanbul. We are left with a rich and global portrait of a world constantly in motion, tied together and increasingly dominated by a pre-industrial capitalism. The rise of Europe to world domination, in this view, has nothing to do with any unique genius, but rather a distinct fusion of commercial capitalism with state power.

In Studies on Pre-Capitalist Modes of Production British and Argentinian historians analyse the Asiatic, Germanic, peasant, slave, feudal, and tributary modes of production by exploring historical processes and diverse problems of Marxist theory. The emergence of feudal relations, the origin of the medieval craftsman, the functioning of the law of value and the conditions for historical change are some of the problems analysed. The studies treat an array of pre-capitalist social formations: Chris Wickham works on medieval Iceland and Norway, John Haldon on Byzantium, Carlos García Mac Gaw on the Roman Empire, Andrea Zingarelli on ancient Egypt, Carlos Astarita and Laura da Graca on medieval León and Castile, and Octavio Colombo on the Castilian later Middle Ages. Contributors include: Chris Wickham, John Haldon, Carlos Astarita, Carlos García Mac Gaw, Octavio Colombo, Laura da Graca, and Andrea Zingarelli.

Winner of the 2011 Isaac and Tamara Deutscher Memorial Prize. The essays collected here straddle four decades of work in both historiography and Marxist theory, combining source-based historical work in a wide range of languages with sophisticated discussion of Marx's categories. Key themes include the distinctions that are crucial to restoring complexity to the Marxist notion of a 'mode of production'; the emergence of medieval relations of production; the origins of capitalism; the dichotomy between free and unfree labour; and essays in agrarian history that range widely from Byzantine Egypt to 19th-century colonialism. The essays demonstrate the importance of reintegrating theory with history and of bringing history back into historical materialism. An introductory chapter ties the collection together and shows how historical materialists can develop an alternative to Marx's 'Asiatic mode of production'.

Henry Heller's short account of the history of capitalism combines Marx's economic and political thought with contemporary scholarship to shed light on the current capitalist crisis. It argues that capitalism is an evolving mode of production that has now outgrown its institutional and political limits. The book provides an overview of the different historical stages of capitalism, underpinned by accessible discussions of its theoretical foundations. Heller shows that capitalism has always been a double-edged sword, on one hand advancing humanity, and on the other harming traditional societies and our natural environment. He makes the case that capitalism has now become self-destructive, and that our current era of neoliberalism may trigger a transition to a democratic and ecologically aware form of socialism.