Class Notes (922,979)
CA (543,021)
UTSG (45,883)
POL201Y1 (221)
Lecture

Lecture #2

3 Pages
56 Views

Department
Political Science
Course Code
POL201Y1
Professor
Sophia Moreau

This preview shows page 1. Sign up to view the full 3 pages of the document.
The process of development started in Britain. A transformation from a feudal to a
market economy was a very slow process and took about 1600, with the arrival of the
industrial revolution.
Traditional economy - Sons do the same as their fathers, and trade guilds ensure that
things are created to a certain standard. Things change in tiny ways, but it functions
because it!s always functioned before. There is little innovation.
Command economy - There is central planning. Decision makers decide what should be
created and how it is distributed. The USSR Five Year Plan. Until the 19th century, the
primary model of economy was Traditional and Command. Economics, production and
distribution really developed as its own field after the 19th century.
The Feudal system is interesting because it had to be overcome for the market to
emerge. The feudal system is static and rigid. Serfs could not leave or move and were
tied to a particular piece of land and lord for generations. It was a social obligation, and
it was a relation of economic dependance.
The Feudal System:
-Labour is not a commodity - Serfs were not able to sell their labour
-Land is not a commodity - Land was not considered outside of their social context.
There was no market for land, it was not a source of wealth.
-Property is not a commodity - Wealth was spent on jewelery and spices, it was not
spent on capital.
Agricultural changes.
Open field system, manors with common areas for use by both serfs and lords. The
enclosure process was slow and irregular, which was the privatization of common land.
This transfered land from a birthright to a productive use. The enclosures were legalized
and enforced through a series of government acts when privatization was fought. Serfs
disputed this privatization, so the lords called on the government to bring in laws. The
government passes these laws and steps in on the side of the lords. General Enclosure
Act of 1801. What changed? Why did the feudal system work for centuries, and then it
changed? Surplus was not really necessary, there was only so much you could do with
the time you were given. Then came the invention of agricultural machinery, enabling
crop rotation. The industrial revolution is driven my privatization of property, which
comes about because land is now a commodity because it is able to worked more then
it had prior. The agricultural revolution.
The enclosures forced people off the land and created a labour force. Serfs had been
able to use the common land, and they were no longer able to. People start to move to
industrial centers in order to sell their labour. The enclosers turned both land and people
into a commodity. Food production is also increased, and the increased food can be
used to feed factory workers. Industrial revolution began 1750 - 1850.
The first factories in the I.R. were textiles. Textiles were made in home, and was a long
and intensive process. The organization of the textile industry was complicated and
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
The process of development started in Britain. A transformation from a feudal to a market economy was a very slow process and took about 1600, with the arrival of the industrial revolution. Traditional economy - Sons do the same as their fathers, and trade guilds ensure that things are created to a certain standard. Things change in tiny ways, but it functions because its always functioned before. There is little innovation. Command economy - There is central planning. Decision makers decide what should be created and how it is distributed. The USSR Five Year Plan. Until the 19th century, the primary model of economy was Traditional and Command. Economics, production and distribution really developed as its own eld after the 19th century. The Feudal system is interesting because it had to be overcome for the market to emerge. The feudal system is static and rigid. Serfs could not leave or move and were tied to a particular piece of land and lord for generations. It was a social obligation, and it was a relation of economic dependance. The Feudal System: - Labour is not a commodity - Serfs were not able to sell their labour - Land is not a commodity - Land was not considered outside of their social context. There was no market for land, it was not a source of wealth. - Property is not a commodity - Wealth was spent on jewelery and spices, it was not spent on capital. Agricultural changes. Open eld system, manors with common areas for use by both serfs and lords. The enclosure process was slow
More Less
Unlock Document


Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit