As much a portrait of his time as a biography of the man, Karl Marx: Greatness and Illusion returns the author of Das Kapital to his nineteenth-century world, before twentieth-century inventions transformed him into Communism’s patriarch and fierce lawgiver. Gareth Stedman Jones depicts an era dominated by extraordinary challenges and new notions about God, human capacities, empires, and political systems—and, above all, the shape of the future.

In the aftermath of the Battle of Waterloo, a Europe-wide argument began about the industrial transformation of England, the Revolution in France, and the hopes and fears generated by these occurrences. Would the coming age belong to those enthralled by the revolutionary events and ideas that had brought this world into being, or would its inheritors be those who feared and loathed it? Stedman Jones gives weight not only to Marx’s views but to the views of those with whom he contended. He shows that Marx was as buffeted as anyone else living through a period that both confirmed and confounded his interpretations—and that ultimately left him with terrible intimations of failure.

Karl Marx allows the reader to understand Marx’s milieu and development, and makes sense of the devastating impact of new ways of seeing the world conjured up by Kant, Hegel, Feuerbach, Ricardo, Saint-Simon, and others. We come to understand how Marx transformed and adapted their philosophies into ideas that would have—through twists and turns inconceivable to him—an overwhelming impact across the globe in the twentieth century.

When István Hont died in 2013, the world lost a giant of intellectual history. A leader of the Cambridge School of Political Thought, Hont argued passionately for a global-historical approach to political ideas. To better understand the development of liberalism, he looked not only to the works of great thinkers but also to their reception and use amid revolution and interstate competition. His innovative program of study culminated in the landmark 2005 book Jealousy of Trade, which explores the birth of economic nationalism and other social effects of expanding eighteenth-century markets. Markets, Morals, Politics brings together a celebrated cast of Hont’s contemporaries to assess his influence, ideas, and methods.

Richard Tuck, John Pocock, John Dunn, Raymond Geuss, Gareth Stedman Jones, Michael Sonenscher, John Robertson, Keith Tribe, Pasquale Pasquino, and Peter N. Miller contribute original essays on themes Hont treated with penetrating insight: the politics of commerce, debt, and luxury; the morality of markets; and economic limits on state power. The authors delve into questions about the relationship between states and markets, politics and economics, through examinations of key Enlightenment and pre-Enlightenment figures in context—Hobbes, Rousseau, Spinoza, and many others. The contributors also add depth to Hont’s lifelong, if sometimes veiled, engagement with Marx.

The result is a work of interpretation that does justice to Hont’s influence while developing its own provocative and illuminating arguments. Markets, Morals, Politics will be a valuable companion to readers of Hont and anyone concerned with political economy and the history of ideas.