Review Article : The Pyrrhic Victory of Capital

Amiya Kumar Bagchi, Perilous Passage: Mankind and the Global Ascendency of Capital, Rowman and
Littlefield, Lanham, MD, 2005; paperback edition 2008.

Capital and the capitalist economy have been striding the world for five centuries. Have they won its victory for capital and against humanity? In a recent book, Perilous Passage, Amiya Bagchi deals with this question, taking the point of view of those who have been crushed in wide parts of Asia, Africa and in the Americas by the global ascendancy of western capitalism. We use his book to record our view of capital’s journey over time and space, and what is to be done about it.