SOC 202 Lecture : WHAT IS CAPITALISM.doc
3 Oct 2012
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Capitalism is essentially the investment of money in the expectation of making a profit, and huge profits could be made at some considerable risk by long-distance trading ventures of this kind. Profit was the result of scarcity and distance. Large amount of capital needed for the trade of spices and other products. East indianman" ships of the east india company were named this; they were armed with a cannon to ward off the dutch and portuguese. There were at least 280 people on the third expedition; needed enough sailors to get back after hazards of the expedition had taken their toll. Most of the capital of east india company was obtained from rich. London merchants; some came from aristocrats and some from dutch merchants who were not allowed to invest in the dutch east indies company. Each of the first 12 voyages were financed separately which brought some risk and uncertainty.
