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An authoritative, insightful, and highly engaging history of the twentieth-century global economy, updated with a new chapter on the early decades of the new century. Global Capitalism guides the listener from the globalization of the early twentieth century and its swift collapse in the crises of 1914–45, to the return to global integration at the end of the century, and the subsequent retreat in the wake of the financial crisis of 2008.

Prophecies that the dollar will lose its status as the world's dominant currency have echoed for decades—and are increasing in volume. Cryptocurrency enthusiasts claim that Bitcoin or other blockchain-based monetary units will replace the dollar. Foreign policy hawks warn that China's renminbi poses a lethal threat to the greenback. And sound money zealots predict that mounting US debt and inflation will surely erode the dollar's value to the point of irrelevancy.

With its deep roots and global scope, the capitalist system provides the framework for our lives. It is a framework of constant change, sometimes measured and predictable, sometimes drastic and out of control. Yet what is now ubiquitous was not always so. Capitalism took shape centuries ago, starting with a handful of isolated changes in farming, trade, and manufacturing, clustered in early-modern England. Astute observers began to notice these changes and consider their effects. Those in power began to harness these new practices to the state, enhancing both.