How did the mechanisms of exchange and the structures of daily life facilitate the emergence of global capitalism between the 15th and 18th centuries? Fernand Braudel, a central figure of the Annales School, utilizes a vast array of archival data and economic history to argue that capitalism was not a sudden invention but a slow-growing structure built upon existing market exchanges. He examines the transition from local barter to complex international trade networks, emphasizing the role of material life and the persistence of traditional economic habits alongside nascent capitalistic practices.

This work is widely regarded as a foundational text in economic history, praised for its immense scope and its ability to synthesize granular detail into a cohesive structural framework. The text demands a high level of engagement from the reader due to its dense analytical style and its focus on long-term historical trends rather than singular events.