EURO ST 10 Chapter Notes - Chapter 2: Primitive Accumulation Of Capital, Spanish Treasure Fleet, Anthony Giddens
Document Summary
This concept was developed by marx to explain the necessity of amassing some initial capital so that the capital system (which depends on investing capital to increase capital) can get started. The principle of capitalism is the investment of capital in order to produce more capital (to invest to produce) We"ve seen that this attitude is not based originally on avarice or greed. It depends on a work ethic, an ascetic ethos, to keep this cycle going. But where does the original ( primitive ) accumulation of capital come. These idyllic proceedings are the chief momenta of primitive accumulation. On their heels treads the commercial war of the european nations, with the globe for a theatre. It begins with the revolt of the netherlands from spain, assumes giant dimensions in england"s anti-jacobin war, and is still going on in the opium wars against china .
