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Depression and Revolution, 1762–1789

In: World Accumulation 1492–1789

Author

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  • Andre Gunder Frank

Abstract

The three decades from 1762 to 1789 decidedly were marked by recurrent and predominant economic depression—and they in turn mark what is probably the decisive turning point in the modern history of humanity. J. D. Bernal writes in his Science in History: The seventy years from 1760 to 1830, and particularly the thirty from 1770 to 1800, are a decisive turning point in world history. They mark the first practical realization of the new powers of machinery in the framework of a new capitalist productive industry … The critical transition came as a culmination of changes in technology and economics which reached, as has been shown, a breakthrough in Britain, on the technical side, around the year 1760, and in France, on the economic and political side, thirty years later. The changes were not easily effected; it was no accident that the period was one of unprecedented revolutions and wars. (Bernal 1969, II: 535)

Suggested Citation

  • Andre Gunder Frank, 1978. "Depression and Revolution, 1762–1789," Palgrave Macmillan Books, in: World Accumulation 1492–1789, chapter 0, pages 167-212, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-15998-7_5
    DOI: 10.1007/978-1-349-15998-7_5
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