SOSC 1340 Lecture Notes - Lecture 3: Merchant Capitalism
13 Dec 2013
School
Department
Course
Professor
Document Summary
Reading(s): slater, d. & tonkiss, f. (2001), the emergence of market society. England in the 17th century before it fully developed in north america. To increase their profits they had to cut their costs of production mainly by pay of the workers, which is called division of labour. The competitive advantage of this was that firms and industries would get ahead of its competitors by using new technology and adapting to the new way of things . The reason why it had emerged was because merchant capitals that provided had dominated the larger european towns with capital. Some characteristics of merchant capitalism are increase of people who worked for money mainly on their own land causing more demand for food, clothing and household goods. This led to the religious upheaval and political revolution . Some of the undesirable impacts where the rebuild to replicate the new image . A positive impact of this was the development of the printing press.
