The Critical Break

Abstract

With this chapter, the book’s major focus shifts from the whole world to Europe, where sustainable capitalist economic development first takes off. After Rome’s disintegration, due to Western Europe’s geography and level of military technology, no European state could gain a hegemony on power. The resulting intense and ever-present state competition fueled an arms race and technological innovation while keeping rulers in need of revenue. They found additional resources in the expanding commerce, manufacturing, and capitalist institutions that accompanied an emerging bourgeoisie. Consequently, uniquely in Europe a bourgeoisie sustainably managed to survive its own self-destructiveness and the hostility of a hereditary landed aristocracy. The growing muscle of the bourgeoisie expressed itself in increasingly successful demands for greater freedoms, privileges, status, and political power commensurable to their wealth. The unique sustainable success of the European bourgeoisie and capitalist institutions constitutes a historical singularity, paving the way for today’s riches and freedoms.