Read the slides and books at the same time
15001780s Mercantilism (done last lecture)
hierarchy of feudalism.
Where all surpluses( above subsistence levels) were coer
Under capitalism, labor is commodity, but not in feudalism
• 17801945 industrial capitalism (this lecture)
Protectionism, accumulation of capital
Capitalism emerged in UK at the beginning
The focus on trade shift to production
How to allow the production to be organized, the maximized one to occur
Capitalists become a lot more powerful.
Lands belong to capitalists, create the pool of labor
Subcontractor, give admission to the individuals
Low intense, small production ?
British Industrial revolution
• Phase 1:
close to the resources located
Located at a specific region (relatively north of the UK) that has labour pool
• Phase 2:
A shift of areas to coal
• Phase 3:
Railways open up a lot of area