HIST 2C Chapter Notes - Chapter week 2 : Wage Labour, Mercantilism, Free Market
Document Summary
Production of goods or related services within an economy. Major source of revenue within a company. Pg 37: example of a commodity sugar. Instead of selling a product, labor is sold. Instead of sugar being sold, the labor to produce sugar is sold. Not selling anything, not benefitting from labor. Workers sell their labor, but don"t directly sell the commodity. Pg 51 today we speak of agro industry and the term usually implies heavy substitution of machinery for human labor, mass production on large holdings, intensive use of scientific methods and products . Wage labor is what separates, what minz complicates it. Pg 46: crushed by free trade but still laid the foundation for british supply of sugar. Stepping stone between free trade and capitalism. Agreement between metropole and colony for the sole benefit of the mother country.
