How oil turned the motors of capitalism: a history
Political economist Adam Hanieh discusses his new book, 'Crude Capitalism,' which explores the historical connection between oil and the global capitalist system. He argues that oil's role in the economy is driven by social and economic logics rather than an innate commodity power.
Why it matters
Understanding the historical and structural relationship between energy commodities and capitalism is essential for analyzing modern global economic vulnerabilities.
Sandy Torchon via Pexel How oil turned the motors of capitalism: a history Published: June 30, 2026 10:11am EDT https://theconversation.com/how-oil-turned-the-motors-of-capitalism-a-history-286072 https://theconversation.com/how-oil-turned-the-motors-of-capitalism-a-history-286072 Link copied Share article Share article
The framing focuses on critical political economy and systemic critiques of capitalism, which is a common perspective in academic discourse.
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