HISA04H3 Lecture Notes - Lecture 1: Wage Labour, Class Conflict, Unfree Labour
Document Summary
It denied basic political rights and produced a system known as sharecropping. Sonderweg - another path to capitalism was known as sonderweg, in germany, which was an illiberal political order that led to fascism. A vast and dynamic market does not make a capitalistic economy. This course rejects far right and left views on the economy. Merchant capitalism created in the late 17th and early 18th centuries. Merchant capitalism was competitive trade involving long distances, foreign countries, and spices. Merchant capitalism was militaristic, competitive, dangerous, and required heavy investment. The east india company was an example of a company that monopolized this form of trade. Industrial capitalism involved profits coming from workers in mills spinning various fabrics. It was important to keep wage costs down, which put into questions various workers rights and ethical issues. Industrial capitalism was the ability to take a raw material and turn it into a finished product with the smallest investment.