Tutorial1 Fulcher Article Study Questions

23 views2 pages
29 Mar 2012
Department
Course

For unlimited access to Class Notes, a Class+ subscription is required.

Study Questions for Fulcher’s “What is Capitalism?
Fulcher defines capitalism as the investment of money or reserouces by individuals or
business entities in the expectation of making profit
1)What is the overall theme of this article and what is the definition of capitalism?
The evolution of capitalism since 1600
2)What was the East India Company and how did it operate?
Official trading company for the state in the East Indies
Monopoly within one country
Funded by rich merchants
Use gold trade precious goods with foreigners and bring them back for resell at a
high profit margin
3)Was merchant capitalism governed by principles of the free market?
NO. No domestic competition.
Manipulated markets
Little impact on people
4)What were the industrial capitalist activities of James M’Connel and John Kennedy in
the cotton industry?
Used to be apprentices
Set up a firm
Make good profits and accumulate capital
Corporate expansion to increase production capacity
Investment in machinery and new plants
Exploitation of child labour, corporal punishment, long hours
MAJORITY OF PEOPLE WORK FOR WAGE LABOUR
5)How did the rise of the factory system impact workers in Britain during the eighteenth
and nineteenth centuries?
Exploitation of labour, especially child labour
Wage labour, consumerism in leisure market
oSport, railway
Conflict over wages
oUnions and organized strikes
oMoney to spent
Introduction of Disciplined Work
oOrganized work days with specific break times and holidays
Lifestyle changes
Unlock document

This preview shows half of the first page of the document.
Unlock all 2 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+
$10 USD/m
Billed $120 USD annually
Homework Help
Class Notes
Textbook Notes
40 Verified Answers
Study Guides
1 Booster Class
Class+
$8 USD/m
Billed $96 USD annually
Homework Help
Class Notes
Textbook Notes
30 Verified Answers
Study Guides
1 Booster Class