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Human communities have existed for approximately 2.4M years. Markets have existed for nearly as long. And, yet, it is only within the last seven centuries (.03 per cent) of human existence that social life has come to be mediated by equal units of abstract time

Human communities have existed for approximately 2.4M years. Markets have existed for nearly as long. And, yet, it is only within the last seven centuries (.03 per cent) of human existence that social life has come to be mediated by equal units of abstract time. D Landes, G Arrighi, and K Polanyi each tackle a different slice of capitalism, the emerging social system. Drawing upon their research, explain why capitalism appeared so recently, why it might have spread so rapidly, and why the recent appearance of capitalism (as a social form) might be of interest to economic thinking today.

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