Social Sciences in China (Chinese Edition)

No. 12, 2024

Capitalism and the Grand Narrative of Early Modern World History

(Abstract)

Yu Jinyao

The growth and development of capitalism is a fundamental reality in the trajectory of early modern world history, leaving a profound and far-reaching impact. As both a central concept in historical studies and an analytical tool, capitalism enables historians to better analyze and critique historical processes. Marxist theories on the capitalist mode of production—particularly in relation to wage labor, capital accumulation, commodity production, and the world market—offer vital theoretical guidance for understanding the global historical developments of the past five centuries. Historiography necessitates grand narratives, and the growth of capitalism serves as a critical thread for interpreting early modern world history. Marxist theory on the capitalist mode of production provides a fitting framework for constructing such a grand narrative of early modern world history.