HIST 1007 Lecture : Feb 15 Notes 1007 Fall 2013
Document Summary
Background to the industrial revolution, 1600-1800: capitalism and the slave trade: modern capitalism. Impersonal system, institutions and relationships independently of the families that make them up. Given a charter (monopoly) by the dutch government. About 16 of these merchant corporations from europe around the world. Expensive- building ships, colonies- borrow money to do so- banks, credit. Risky- ships can be wrecked by weather, pirates can raid ships- uncertainty. Betting- stock market- stock exchange- speculations on future of investments. 22,000 employees for dei company- 2 million dollar profit a year. Land used to be something that represented your family, not for sale. It became something to be sold during this time: depersonalized labor. Work connected to what your family did, passed on to next generation. Then there was a labor market- labor can be sold to an employer. Can change job ps if you want to be paid more. Eventually slavery becomes a part of the system, too.
