“Graeber is no Braudel. The latter’s epic history of the rise of capitalism (with the luxury, it must be said, of covering just four centuries in three volumes) also takes a pointillistic approach, but is full of actual data, diagrams, and maps, organized to give us a real sense of the material conditions of life and the operations of economic networks. Graeber stays almost entirely within the domain of “moral universes” and discourse. We don’t get a sense of just how the moral economy of Merrie England was undermined, except that the powers-that-were didn’t get it, didn’t like it, and imposed their own morality somehow. He engages very selectively with the literature on the “rise of capitalism” — how else to explain his portrayal of the news that sophisticated banking and finance long predated the rise of the factory system and wage labor as if it were a challenge to all preconceptions? This “peculiar paradox” has been a commonplace of the Marxian literature since Marx.”
