Economics are inclined to think of the market economy as always existing, just developing or 'growing'; historians (and anthropologists) know very well that that is not the case. An attempt is made in this book to build a bridge. Its subject is the evolution of hte market economy, its forms and institutions : an evolution which has great things to its credit, but has many darker sides. Some of the dark sides - slavery and usury and the darker aspects of colonization - are given considerable attention. The discussion culminates in an analysis of the Industrial Revolution. The book is 'theory', concerned with principles ; but the principles are illustrated by examples drawn from four thousand years of history.

Theory and history -- Custom and command -- The rise of the market -- City states and colonies -- Money, law, and credit -- The finance of the sovereign -- The mercantilization of agriculture -- The labour market -- The industrial revolution -- Conclusion -- Appendix.