GGR112H1 Lecture Notes - Lecture 2: Primitive Accumulation Of Capital, Investment
23 Jan 2018
School
Department
Course
Professor
Document Summary
This would be a cycle, when the start and end of a socioeconomic cycle are essentially the same. These societies did expand outward in a geographical sense, but always with more people incorporated in the tribute. With accumulation, the surplus is reinvested into a new round of accumulation to expand capitalist production processes or the web of capitalist relations. Labor hired by the capitalist produces more than is required to expand the capacity to produce in the next cycle. Capitalism is about the endless accumulation of capital . Features the capital-labour relation - a method for exchanging commodities on the open market for profit. Basically the relationship between the workers and those who they work for (capitalists) Primitive accumulation is the process by which the workers come to be separated from the means of production (e. g. through colonisation) Extensive = geographic to swallow up parts of the world previously outside the system.
