LABRST 1C03 Lecture Notes - Enclosure, Wage Labour, Mercantilism

• School: McMaster University
• Department: Labour Studies
• Course: LABRST 1C03
• Professor: David Bush

Document Summary

Basically trying to maximize profit with very little input as possible. Most production was for use (even in slave societies such as rome). Commodities were exchanged ultimately to get other commodities. Economic system were primarily based on relationships of personal domination (feudalism, slave societies, etc. ) A political system in which the land is dispersed by a lord to their vassal for a fee and promise of loyalty. The social hierarchy is rigid- lords, vassals, clergy, merchants, artisans and serfs. This system begins to breakdown in europe in the 15th century. The merchant class begins to acquire more power. Intro european trading feuds push some european states to look for new trading routes. Start of european colonization which lays the groundwork for mercantilism. England are forcibly evicted by the nobility to raise sheep. This in time creates the conditions for a wage labour system in england. The taking or expropriation of land, resources, and/or cultural knowledge.