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SOC207 - Textbook Reading 1

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Paul Glavin

Lecture 1 notesindustrialization refers to the technical aspects of the accumulation and processing of a societys resourcesan industrial society is one in which inanimate sources of energy such as coal or electricity fuel a production that uses technology to process raw material capitalism is a term used to describe key aspects of the economic and social organization of the productive enterprisea capitalist system of production is one in which a relatively small number of individuals own and control the means for creating foods and services while the majority have no direct ownership stake in the economy and are paid a wage to work for those who do theoretical writings of Karl Marx Durkheim Weber explain the causes and consequences of capitalist development THE ORIGINS OF INDUSTRIAL CAPITALISMcapitalism and industrialization dramatically reshaped the structure of european society economically socially and spatially these changes have different pace and pattern in each country emergence of capitalism in europe consisted of 2 basic periodsmercantilecommercial capitalism 1500sindustrial capitalism somewhat laterduring mercantile europeans utilized international trading of stones metals spices etc which provided wealth need to fuel the growth of industrial capitalism in europeearly signs of capitalist commercial activity emerged out of a feudal society feudal Europe was a predominantly a pre market economy in which producer was also the consumer it is a precapitalist economy because wage labour was rare and a business class is not dominant feudalism was built upon a system of mutual rights and obligations reinforced with tradition A persons social position is inherited did the decay of feudalism lead to capitalismsome say the deterioration of land landlords demanding for more rent forced people to the urban cities which form urban working class others suggests that as mercantile capitalism developed in urban areas market economy slowly began to make an impact on rural life cities began to attract landless serfs EARLY CAPITALISMindustrial capitalism began to emerge in early 1700svarious inventions were revolutionizing production techniques
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