SOC 501 Lecture Notes - Lecture 1: Feudalism, Class Conflict, Karl Polanyi
18 Oct 2017
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Document Summary
Industrialization refers to the technical aspects of the accumulation and processing. Capitalism is a term used to describe key aspects of the economic and social organization of the productive enterprise. In an industrial society, inanimate sources of energy, such as coal or electricity, fuel a production system that uses technology to process raw materials. The origins of industrial capitalism: mercantile or commercial capitalism began in the 1500s -> industrial capitalism evolved later. Mercantile period: merchants and royalty in spain, holland, england and france accumulated huge fortunes by trading internationally in a variety of goods, including spices, precious stones and metals, sugar, cotton, and slaves. Feudal society: work typically involved peasants farming small plots of land they did not own. Landowners received rent, usually in the form of agricultural produce. Feudal lords accepted rent and expected services in the form of manual labour required for the upkeep of the estate.
