The Evolution of Capitalism: From Merchants to Imperialism
1. Historical Context
2. Nobles and Artisans.
3. Methods of control included deceiving populations with church support or utilizing violence, such as seizing farms or physical elimination.
4. The Merchant Definition
A merchant is an individual who purchases goods at a low cost to resell or exchange them for a higher value.
5. Geographic Origins
The movement originated in Europe, specifically Venice.
6. Trade Mechanics
Merchants focused on purchasing goods to sell in different regions or exchanging them for items of greater value.
7. Political Alliances
Initially independent, merchants eventually aligned with the ruling realms.
8. Capital Accumulation
The primary motivation was to acquire more inventory to increase their total capital.
9. Exploration
Christopher Columbus sought new products, though his findings were initially met with skepticism.
10. Taxation and Revenue
Merchants faced no initial sales taxes, leading the monarchy to impose entry fees on villages to generate revenue.
11. Class Conflict
Tensions escalated into open conflict between the nobility and the merchant class.
12. The Slave Trade
Merchants traded in human beings to increase their inventory, transporting them to other countries to generate further capital.
13. Arms Trade
A significant business relationship developed as merchants supplied arms to the nobility.
14. Labor Exploitation
Slaves were utilized as the primary "employees" of the era.
15. State Apparatus
The power structure consisted of the King, the Army, the Police, and Lawyers.
16. Market Competition
The era was defined by intense economic competition.
17. Bankruptcy and Market Shifts
Aggressive price-cutting led to market instability, causing many to face bankruptcy.
18. Worker Discontent
As prices dropped, the treatment of workers deteriorated significantly.
19. Social Upheaval
Workers in Paris seized control of the city to implement systemic changes.
20. Industrial Expansion
The growth of industries fueled further economic shifts.
21. Factory Dominance
Factories that accumulated the most capital gained significant market ground.
22. Territorial Restrictions
Restrictions were placed on the invasion and colonization of the Americas.
23. Nationalism and War
Capitalists manipulated public sentiment by claiming national danger to incite wars.
24. Social Objectives
The goal was to eliminate social inequality and distribute wealth fairly.
25. Global Powers
Key nations included France, England, Russia, Italy, and the USA.
26. Neocolonialism
A method of "colonizing" Third World countries through price manipulation.
27. Private Property
A system where the means of production—such as land, factories, and raw materials—are not public property.
28. Wage Labor
A system where workers are compensated for their time rather than their actual productivity.
29. Modern Economic Policy
In savage capitalism, economic policy is often dictated by the International Monetary Fund, contributing to illiteracy, poverty, and unemployment.
30. Global Imperialism
The current face of imperialism, where the global market is forced to consume products dictated by the world's largest capitalist powers.