The Winds of the World: A Book Review

Introduction

In his book "The Winds of the World", Celso Furtado presents a sweeping history of the global economy, from the rise of the West to the emergence of the developing world. Furtado argues that the world economy is not a natural phenomenon, but rather a product of human agency and political decisions. He traces the origins of the current global economic order to the European colonization of the Americas and the subsequent rise of industrial capitalism. Furtado shows how the West used its economic and military power to dominate the rest of the world, creating a system of global inequality that persists to this day.

The Rise of the West

The first part of Furtado's book focuses on the rise of the West. He argues that the West's economic success was not due to any inherent superiority, but rather to a combination of factors, including:

• The exploitation of the Americas: The European colonization of the Americas provided the West with a vast source of cheap labor and raw materials, which fueled the Industrial Revolution.
• The development of capitalism: Capitalism, with its emphasis on private property and profit-making, created a dynamic economy that was able to generate sustained economic growth.
• The rise of science and technology: The Scientific Revolution and the Industrial Revolution led to a series of technological innovations that transformed the way people lived and worked.

The Dominance of the West

The second part of Furtado's book focuses on the dominance of the West. He argues that the West used its economic and military power to establish a global system of inequality, which he calls "the international division of labor." This system divided the world into two main categories:

• The developed countries: These countries, located in the West, controlled the global economy and enjoyed a high standard of living.
• The developing countries: These countries, located in the South, were exploited by the developed countries and suffered from poverty and underdevelopment.

The Emergence of the Developing World

The third part of Furtado's book focuses on the emergence of the developing world. He argues that the developing world is not simply a passive victim of Western domination, but rather a dynamic force that is challenging the existing global order. Furtado points to a number of factors that are contributing to the rise of the developing world, including:

• The growth of nationalism: The developing countries are increasingly asserting their independence and demanding a more just and equitable global order.
• The spread of democracy: Democracy is providing the developing countries with a voice in global affairs and allowing them to challenge the power of the developed countries.
• The rise of technology: Technology is helping the developing countries to overcome some of the challenges they face, such as poverty and disease.

Conclusion

In "The Winds of the World", Celso Furtado provides a powerful and insightful analysis of the global economy. He shows how the West used its economic and military power to dominate the rest of the world, creating a system of global inequality that persists to this day. However, Furtado also argues that the developing world is rising and that it is challenging the existing global order. He believes that the developing world has the potential to create a more just and equitable world, but that it will require a concerted effort from all countries.

Why You Should Read This Book

"The Winds of the World" is a must-read for anyone who wants to understand the global economy. It is a powerful and insightful analysis of the past, present, and future of the world economy. Furtado's book is essential reading for anyone who wants to make a difference in the world.