FIN 300 Lecture Notes - Lecture 1: Time Lord, Putting-Out System, Enclosure
25 Sep 2018
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Who really owns a business, managers, shareholders etc. Self-sufficient manorial estate not a lot of trade going on. Church had very negative views on trade, so served as an obstacle to capitalism. Subsistence economy producing enough to sustain themselves, motive is not to gain a profit. Capitalism when majority of people are dependent on investment capital. Merchant capitalism: most of people are peasants, above are merchants and above are nobility, merchants are accumulating capital (only happening in that section; rest of peasants are trying to sustain their lives) Plantation: slavery, colonization, imperialism driven by capitalism, the motive to gain a profit, proto-industrial manufacturing in cottage industry, but workers are. Industrial capitalism being exploited: when production becomes industrialized by usage of technology, assembly lines, or when people bring specialized in certain work so work becomes efficient, creates risk but creates opportunity for profit.
