Book Review
Joyce Appleby, a renowned scholar and professor emeritus at the University of California, has authored numerous books and articles with a unique focus on historiography. Her literal works thus include her thoughts regarding capitalism, liberalism and on the American republic. This manuscript will thus focus on one of her literal works, “The Relentless Revolution- A history of Capitalism”. This book offers insights regarding the rise of capitalism globally and its mutation over time. According to Appleby, capitalism is a breakaway from several circumstances which have occurred over time and as such, it has to be interpreted as a historical change process other than an avoidable elongation of man’s nature as asserted by Adam Smith. This manuscript thus offers a succinct analysis into this literal work while appraising pertinent issues raised by the author including her thoughts on capitalism and its relationship with history, the evolution of capitalism and her thoughts on noteworthy historical figures such as Karl Marx, Joseph Schumpeter and Marx Weber.
According to Appleby, the history of capitalism is traceable to the 16th century where prevalent scarcity of agricultural societies was the norm. From that point henceforth, Europe has witnessed a divergent from the then pattern and in effect the history of capitalism is found. As insinuated in the books’ title, Appleby presents the concept of capitalism as a dynamic force which is unyielding in its revolution of itself and the world around itself. Consequentially, the author argues that capitalism contains a force which propels it and separates it from the activity of commerce.
Appleby in ‘The Relentless Revolution’, makes reference to noteworthy thinkers albeit critically. Karl Marx for instance, is considered to have been right regarding his thoughts on capitalism by coming up with ways of improving the use of capital. However, according to Appleby, Karl Marx failed to see the disadvantages of communism with correlates with capitalism. Additionally, the author offers insights into Joseph Schumpeter and his thoughts on the fall of capitalism. According to Schumpeter, the fall of capitalism is expected since it leads to the destruction of the institutions that are its custodians (Appleby 326). This idea stems from the experienced 2008 financial crisis.
In this regard, capitalism is regarded as a failing commercial system. Appleby goes ahead to offer insights regarding Max Weber’s thoughts on capitalism. In this regard, max Weber is Appleby’s most influential historian since both his and her views on capitalism resonate. According to Appleby, Weber’s emphasis on ‘contingency’ and ‘unintended repercussions’ regarding capitalism are pertinent issues that greatly influenced her work.
The dynamism of capitalism is best illustrated by the use of key figures in corporate America including Rockefeller, Zeiss, Vanderbilt and Carnegie. These individuals according to Appleby, are the “swashbuckling enterprise champions” (Appleby 379).
In as much as the book is instrumental in understanding the dynamism of capitalism, it falls short on various fronts. To begin with, diverse themes are controversial within the book and these raises pertinent questions about the books longevity, efficacy and equity in addressing matters capitalism and offering contemporary solutions to global problems. Of concern is the apparent lack of clarity on how present day challenges including sustainability issues, the effects of imperialism and how powerful private interests can be controlled in the free market in order to protect public and government interests.
On a positive note, ‘The Relentless Revolution’ climaxes by offering insights into China’s mercurial commercial rise and its relentless revolution from communism to being a largely ‘statist capitalistic economy’ and republic (Appleby 480).
The evolution of other nations during the post war period such as Japan, Singapore, South Korea, Germany and France are equally documented in the books closing chapters as their varied and unique aspects of capitalism are addressed. From the analysis presented in her closing chapters, Appleby opines that through government intervention, capitalism is sustainable and as such, governments should not be hostile to the system. The United States government, through its Research and Development funding projects is a noteworthy venture according to Appleby, which led to unprecedented advancements on various fronts. The government funded IBM projects, for instance, are responsible for numerous innovations.
In her application of her view on capitalism to the present global financial crisis, Appleby is more inclined to a libertarian standpoint and she believes that the government can and must restrain itself on certain excesses. These excesses include an over overstuffed executive payment packages and a high and prevalent deregulation of an ailing financial system. With this view, the author is upbeat concerning the future. As she opines, ‘societies will adjust and observe their economies as they seek shared goals’ (Appleby 480). In this regard, a relentless revolution regarding capitalism is unavoidable.
Conclusively, ‘The Relentless Revolution’ offers varied viewpoints on the dynamic nature of capitalism. Borrowing insights from noteworthy historical and corporate figures, the author manages to explore issues surrounding capitalism including its relationship to communism. Noteworthy business moguls whom Appleby considers ‘capitalist heroes’ including Rockefeller are celebrated and pointed out as worthy emulating. However, the book equally raises pertinent questions which are worthy consideration.
Works cited
Appleby, Joyce O. The Relentless Revolution: A History of Capitalism. New York, NY: W.W. Norton & Co, 2010. Print.
