Class Notes (835,429)
Canada (509,186)
LABRST 1C03 (126)
David Bush (12)

A Brief History of Capitalism.docx

3 Pages
Unlock Document

Labour Studies
David Bush

A Brief History of Capitalism Jan 15/13: Lecture 2 Capitalism  How has work has changed and how work is conducted, organized and seen in our society?  What is it? Basically trying to maximize profit with very little input as possible  How does it operate? Pre-Capitalist Economics  Most production was for use (even in slave societies such as Rome).  Commodities were exchanged ultimately to get other commodities  Economic system were primarily based on relationships of personal domination (Feudalism, Slave Societies, etc.) Feudalism  A political system in which the land is dispersed by a lord to their vassal for a fee and promise of loyalty  The social hierarchy is rigid- lords, vassals, clergy, merchants, artisans and serfs  This system begins to breakdown in Europe in the 15 century  The merchant class begins to acquire more power The Age of “Discovery” The Enclosure Movement  Intro European trading feuds push  Former serfs now free peasants in some European states to look for new England are forcibly evicted by the trading routes nobility to raise sheep  Start of European colonization which  This in time creates the conditions for lays the groundwork for mercantilism a wage labour system in England Accumulation by Dispossession  The taking or expropriation of land, resources, and/or cultural knowledge  It divorces people from their means of production.  It concentrates those expropriated resources in the hands of a few.  These factors create the conditions for capitalism Mercantilism  A closed system of trading between colonies and a colonial country in which colonies shipped resources to the “home” country and the “home” country shipped back finished products A Brief History of Capitalism 1  As new trade routes opened up and new colonies were founded more and more wealth flowed into the coffers of European merchants Barbarity of the Colonial Experience  A development of a large scale slaves trade and slave production system  The massive genocidal war waged by Europeans colonizers against Indigenous peoples across the globe  The impoverishment of large swaths of European peasantry through war and land theft  The enrichment of European states Early Capitalism  After the enclosure movement in England there is a surplus population in English towns and
More Less

Related notes for LABRST 1C03

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.