The Long Twentieth Century: Money, Power, and the Origins of Our Times

In his groundbreaking book, "The Long Twentieth Century," Giovanni Arrighi offers a sweeping and ambitious reinterpretation of the past two centuries of global history. Arrighi argues that the rise and fall of the world's leading economic powers has been driven by a series of long-term cycles of accumulation and crisis. These cycles, he argues, are rooted in the changing nature of the global financial system and the shifting balance of power between different regions of the world.

The Rise of the West

The first part of the book focuses on the rise of the West and the emergence of the United States as the world's leading economic power. Arrighi argues that the rise of the West was fueled by a series of financial innovations that allowed for the accumulation of capital on an unprecedented scale. These innovations included the development of the joint-stock company, the stock market, and the central bank.

The Crisis of the West

The second part of the book focuses on the crisis of the West and the rise of new economic powers in Asia and the Global South. Arrighi argues that the crisis of the West was caused by a combination of factors, including the increasing cost of labor in the West, the rise of protectionism, and the growing power of multinational corporations.

The Future of the Global Economy

In the final part of the book, Arrighi speculates on the future of the global economy. He argues that the current crisis of the West is likely to lead to a new period of global instability and conflict. However, he also argues that there is hope for a more just and sustainable future if we can learn from the mistakes of the past.

Why You Should Read This Book

"The Long Twentieth Century" is a must-read for anyone who wants to understand the past, present, and future of the global economy. Arrighi's analysis is both insightful and provocative, and his book is sure to challenge your assumptions about how the world works.

Here are a few reasons why you should read "The Long Twentieth Century":

• It offers a sweeping and ambitious reinterpretation of the past two centuries of global history.
• It is based on a wealth of historical research and evidence.
• It is written in a clear and engaging style.
• It is sure to challenge your assumptions about how the world works.

If you are interested in learning more about the global economy, then I highly recommend reading "The Long Twentieth Century." It is a book that will stay with you long after you finish it.