MGMT 1030 Lecture Notes - Lecture 1: Merchant Capitalism, Nick Leeson, Finance Capitalism
20 Jul 2016
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In my personal opinion this article basically discusses the term capitalism, explores the different types of capitalism, and explains its influence on our world in the. Towards the beginning of the article, what is capitalism?" explores the east india company, its various expeditions, its innovative approach to the stock market and in general, its growth and effects on britain"s economy. The article later discusses james m"connel and john kennedy"s ventures in the cotton mills industry, from the creation of their later monopolizing cotton mill firm, to their firm"s different approaches to structure, supervision and increasing productivity. Their ventures were successful due to their controlled wages expense based on their inexperienced, unskilled workforce, and child labor force. The article discusses how capitalism changed or stopped the free-market economy and how it took control of the economy by controlling supply according to demand and competition, which in turn controlled pricing.
