[Review] The Long Twentieth Century: Money, Power and the Origins of Our Times (Giovanni Arrighi) Summarized.

The Long Twentieth Century: Money, Power and the Origins of Our Times (Giovanni Arrighi)

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#systemiccyclesofaccumulation #hegemonictransitions #financialexpansion #worldsystemsanalysis #capitalaccumulationandstateformation #TheLongTwentiethCentury

Giovanni Arrighi’s The Long Twentieth Century: Money, Power and the Origins of Our Times is a landmark work of historical sociology and world-systems analysis. First published in 1994, it explains the evolution of modern capitalism not as a smooth story of industrial progress, but as a series of long systemic cycles linking capital accumulation, state power, and global dominance. Arrighi traces these cycles across several centuries, from the Italian city-states through Dutch, British, and American hegemony, showing how financial power often signals the mature phase of a hegemonic order. The book’s purpose is both historical and analytical: to reveal recurring patterns in the rise and decline of leading capitalist powers and to use those patterns to interpret the present. Rather than focusing on a single nation or era, it places modern geopolitics within a much longer timeline of world-economic change.