POLB90H3 Lecture Notes - Lecture 3: Overproduction, Wassily Kandinsky, Bretton Woods System

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26 Nov 2012
POLB90 Tuesday September 28th, 2010 Lecture 3
Imperialism as Overproduction
o Capitalism increase in profit
Make each worker do more work
Lengthening the workday, or increasing the speed of production
therefore reduce the number of labourers
o Culmination of free trade
Try to create as many markets around the world
Smith, Adams nations should trade w each other rather than produce in their
own country
o Resources had run out of space
“exhaustion of space”
o Basis of national accounts...
For the railway, the british encouraged a national debt
Allows people to use small portions of their income to consume
something that they would never consume
Capitalists did not want to take that risk in the USA
o To create a market, you need to create a demand
Primitive/Primary accumulation
Capitalism had to be created had to create consumers by kicking people off land
If you close your market and can only sell to those people, you need to make
the products cheap
o Guild System
Wassily Kandinsky, 1913
o In the 90’s, 2000’s, there was a space-time compression through globalization
o Following WWI his art shows modernism
Age of planning/structure/organization is reflected in the painting
Imperialism for the Colonized
o Following Darwins voyage of the Begal, racial thinking was not how England had a
relationship with the rest of the world
o Colonized were not passive victims, but they were constrained
Literature shows that the colonizers took information from the colonized, and
vice versa
o People did move into these labour forces willingly (mining etc. vs. agriculture)
Smith had a concept of it: humans living under feudalism did not realize
their full capacity
Marx capitalism is unnatural for the human being
o Worker is alienated from their labour (controlled by “you do
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