This book provides an introduction to, and critical review of, the competing models that have been developed to explain long-term and large-scale economic change. An acquaintance with these models is necessary for an understanding of the processes that produced the foundations for the modern pattern of global production and distribution. Drawing examples from European and Asian history in the early modern period, the author presents an accessible and nontechnical exposition that will be invaluable to students of economic history.
Albeit almost 30 years old, this little booklet is still recommended at an entry-level for a reader in 2023. It gives a great synthesis of all major pieces of the literature that were published until the mid-199oies, some of which are still very relevant today
For example, the theory by Pounds on why the borders of the European system evolved - as compared to China, where we saw the evolution of one state - and the implications for this fractionalization by eminent scholars such as Eric L. Jones.
Hick's model of economic history plays a prominent role and there are always cross-references to older thinkers such as Toynbee.
Wittfogels theory of "Oriental Despotism" is outlined and put into context.
The summary of the Wallerstein - O'Brian debate on whether the "core" exploited the "periphery" is good.
A few things are revealing from a 2023 perspective: Anderson highlights the emphasis on path dependence and historical persistence that was already present in the earlier works of Immanuel Wallerstein - a theme that was picked up by the mainstream economic history literature only years later (starting with Acemoglu Robinson 2002, but exploding really only from the 2010's)
Some statements in the book, on the other hand, are outdated and overturned by more recent research. For example, it now seems established that the influx of bullion from South America did cause the so-called "Price Revolution" to a large extent.