The take off that didn’t: non-canonical codicil to MRR #443

I’m a proponent of world systems theory as developed by Immanuel Wallerstein (Wallerstein, Amin, Arrighi, Frank et al). This theory is based on the analysis of longue durée commercial/industrial/financial “secular cycles” by Fernand Braudel who posited interlinked Venetian/Genoese (1250-1627), Dutch (1500-1733), British (1733-1896), and American (1850-present) cycles in the rise of the modern world capitalist economy. The so-called first Industrial Revolution (1750-1914) can be positioned firmly within the context of these cycles as a period of dynamic, sustained economic growth that Walt Rostow characterized as the “take-off” stage of world capitalism. Rostow’s analysis of the Industrial Revolution’s origins, in turn, reads remarkably similar to economic developments associated with the ebullient High Middle Ages (HMA; 1000-1300) when “urban life reemerged, long-distance commerce revived, business and manufacturing innovated, manorial agriculture matured, and population burgeoned, doubling or tripling” according to David Routt. So why didn’t European protocapitalism “take off” in a prequel economic explosion during the HMA?

One reason, of course, was the Great Famine (1315-17) and the magna pestilencia of the Black Death (1347-53) which together wiped out between one quarter and three quarters of Europe’s population. But I would argue that the worsening relationship between Christian Europe and the Jewish diaspora dating from the collapse of the western Roman Empire (300-476) through the Late Middle Ages (LMA; 1300-1500) was also a factor. Continue reading

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