"What Went Wrong?"

"Some portion of the book's confusion about capitalism, and its author's refusal or inability to stand by its claims about capitalism, is symptomatic and shared. In 2014, Seth Rockman, one of Beckert's colleagues in the new history of capitalism, announced that the field had 'minimal investment in a fixed or theoretical definition of capitalism.' That was a virtue, Rockman claimed, not a vice. If they 'let capitalism float as a placeholder,' scholars would be freed to do 'the empirical work of discovery' and find 'ground-level evidence of a system in operation.' Twelve years—and 1,325 pages—later, free time is over, and judging by the results in hand, scholars of the new history of capitalism have no more sense of a system now than when they began." 

Corey Robin at The Nation reviews Sven Beckert's Capitalism: A Global History.