GEOG 2200 Lecture 2: Week 2 Lecture 2 GEOG 2200 2013 Notes.docx
5 Jun 2014
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Document Summary
Week 2 lecture 2: the making of the modern world: a brief history of capitalism. With the death of feudal society and its traditional relations between classes of people, combined with the creation of european-centred world empires, the stage was set for the creation of a single world economy organized around capitalism. Capitalism is much more than simply an economic idea. It created and embraced new sets of relations and practices, new institutions and ways the world was understood. These are called regimes of accumulations in formal studies. A regime of accumulation describes a particular way of organizing economic production, income distribution, consumption and public goods and services. Capitalism, therefore, led to (and reflected) several keys areas of change, notably changes in class structure; changes in financial arrangements and practices (business practices); the emergence of the nation-state; territorial and geographic changes; long-distance trade; and new ideologies.
