EMBEDDING CAPITAL: POLITICAL-ECONOMIC HISTORY, THE UNITED STATES, AND THE WORLD

Abstract

One of the chief promises of the emerging history of capitalism is its capacity to problematize and historicize relationships between economic inequality and capital's social, political, and ecological domain. At their best, the new works creatively integrate multiple historiographic approaches. Scholars are bringing the insights of social and cultural history to business history's traditional actors and topics, providing thick descriptions of the complex social worlds of firms, investors, and bankers, while resisting rationalist, functionalist, and economistic analyses. They are also proceeding from the assumption that capitalism is not reducible to the people that historians have typically designated as capitalists. As they've shown, the fact that slaves, women, sharecroppers, clerks, and industrial laborers were, to different degrees, denied power in the building of American capitalism did not mean that they were absent from its web, or that their actions did not decisively shape its particular contours.