The terms “capitalism” and “socialism” continue to haunt our political and economic imaginations, but we rarely consider their interconnected early history. Even the eighteenth century had its “socialists,” but unlike those of the nineteenth, they paradoxically sought to make the world safe for “capitalists.” The word “socialists” was first used in Northern Italy as a term of contempt for the political economists and legal reformers Pietro Verri and Cesare Beccaria, author of the epochal On Crimes and Punishments. Yet the views and concerns of these first socialists, developed inside a pugnacious intellectual coterie dubbed the Academy of Fisticuffs, differ dramatically from those of the socialists that followed.

Sophus Reinert turns to Milan in the late 1700s to recover the Academy’s ideas and the policies they informed. At the core of their preoccupations lay the often lethal tension among states, markets, and human welfare in an era when the three were becoming increasingly intertwined. What distinguished these thinkers was their articulation of a secular basis for social organization, rooted in commerce, and their insistence that political economy trumped theology as the underpinning for peace and prosperity within and among nations.

Reinert argues that the Italian Enlightenment, no less than the Scottish, was central to the emergence of political economy and the project of creating market societies. By reconstructing ideas in their historical contexts, he addresses motivations and contingencies at the very foundations of modernity.

A Five Books Best Economics Book of the Year
A Politico Great Weekend Read

“Absolutely compelling.”
—Diane Coyle

“The evolution of modern management is usually associated with good old-fashioned intelligence and ingenuity… But capitalism is not just about the free market; it was also built on the backs of slaves.”
—Forbes

The story of modern management generally looks to the factories of England and New England for its genesis. But after scouring through old accounting books, Caitlin Rosenthal discovered that Southern planter-capitalists practiced an early form of scientific management. They took meticulous notes, carefully recording daily profits and productivity, and subjected their slaves to experiments and incentive strategies comprised of rewards and brutal punishment. Challenging the traditional depiction of slavery as a barrier to innovation, Accounting for Slavery shows how elite planters turned their power over enslaved people into a productivity advantage. The result is a groundbreaking investigation of business practices in Southern and West Indian plantations and an essential contribution to our understanding of slavery’s relationship with capitalism.

“Slavery in the United States was a business. A morally reprehensible—and very profitable business… Rosenthal argues that slaveholders…were using advanced management and accounting techniques long before their northern counterparts. Techniques that are still used by businesses today.”
—Marketplace (American Public Media)

“Rosenthal pored over hundreds of account books from U.S. and West Indian plantations… She found that their owners employed advanced accounting and management tools, including depreciation and standardized efficiency metrics.”
—Harvard Business Review

At the Second World War's end, it was clear that business as usual in colonized Africa would not resume. W. E. B. Du Bois's The World and Africa, published in 1946, recognized the depth of the crisis that the war had brought to Europe, and hence to Europe's domination over much of the globe. Du Bois believed that Africa's past provided lessons for its future, for international statecraft, and for humanity's mastery of social relations and commerce. Frederick Cooper revisits a history in which Africans were both empire-builders and the objects of colonization, and participants in the events that gave rise to global capitalism.

Of the many pathways out of empire that African leaders envisioned in the 1940s and 1950s, Cooper asks why they ultimately followed the one that led to the nation-state, a political form whose limitations and dangers were recognized by influential Africans at the time. Cooper takes account of the central fact of Africa's situation--extreme inequality between Africa and the western world, and extreme inequality within African societies--and considers the implications of this past trajectory for the future. Reflecting on the vast body of research on Africa since Du Bois's time, Cooper corrects outdated perceptions of a continent often relegated to the margins of world history and integrates its experience into the mainstream of global affairs.

“A mind-blowing tour de force that unwraps the myriad objects of addiction that surround us…Intelligent, incisive, and sometimes grimly entertaining.”
—Rod Phillips, author of Alcohol: A History

“A fascinating history of corporate America’s efforts to shape our habits and desires.”
—Vox

We live in an age of addiction, from compulsive gaming and shopping to binge eating and opioid abuse. Sugar can be as habit-forming as cocaine, researchers tell us, and social media apps are deliberately hooking our kids. But what can we do to resist temptations that insidiously rewire our brains? A renowned expert on addiction, David Courtwright reveals how global enterprises have both created and catered to our addictions. The Age of Addiction chronicles the triumph of what he calls “limbic capitalism,” the growing network of competitive businesses targeting the brain pathways responsible for feeling, motivation, and long-term memory.

“Compulsively readable…In crisp and playful prose and with plenty of needed humor, Courtwright has written a fascinating history of what we like and why we like it, from the first taste of beer in the ancient Middle East to opioids in West Virginia.”
—American Conservative

“A sweeping, ambitious account of the evolution of addiction…This bold, thought-provoking synthesis will appeal to fans of ‘big history’ in the tradition of Guns, Germs, and Steel.”
—Publishers Weekly