|
Merchant Capitalism
Some economic historians use the term merchant capitalism to refer to the earliest phase in the development of capitalism as an economic and social system. However, others argue that mercantilism, which has flourished widely in the world without the emergence of systems like modern capitalism, is not actually capitalist as such. Merchant capitalism is distinguished from more fully developed capitalism by its focus on simply moving goods from a market where they are cheap to a market where they are expensive (rather than influencing the mode of the production of those goods), the lack of industrialization, and of commercial finance. Merchant houses were backed by relatively small private financiers acting as intermediaries between simple commodity producers and by exchanging debt with each other. Thus, merchant capitalism ''preceded'' the capitalist mode of production as a form of capital accumulation. A process of primitive accumulation of capital, upon which commercial finance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Revolution
The Commercial Revolution consisted of the creation of a European economy based on trade, which began in the 11th century and lasted until it was succeeded by the Industrial Revolution in the mid-18th century. Beginning with the Crusades, Europeans rediscovered spices, silks, and other commodities rare in Europe. This development created a new desire for trade, and trade expanded in the second half of the Middle Ages (roughly 1000 to 1500 AD). Newly forming European states, through voyages of discovery, were looking for alternative trade routes in the 15th and 16th centuries, which allowed the European powers to build vast, new international trade networks. Nations also sought new sources of wealth and practiced mercantilism and colonialism. The Commercial Revolution is marked by an increase in general commerce, and in the growth of financial services such as banking, insurance and investing. Origins of the Commercial Revolution The term itself was used by Karl Polanyi in his ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercantilism
Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy. It promotes imperialism, colonialism, tariffs and subsidies on traded goods to achieve that goal. The policy aims to reduce a possible current account (balance of payments), current account deficit or reach a current account surplus, and it includes measures aimed at accumulating foreign-exchange reserves, monetary reserves by a positive balance of trade, especially of finished goods. Historically, such policies frequently led to war and motivated colonialism, colonial expansion. Mercantilist theory varies in sophistication from one writer to another and has evolved over time. It promotes government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. High tariffs, especially on manufactured goods, were almost universally a feature of mercantilist policy.John J. McCusker, ''Mercantilism and the Econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, Property rights (economics), property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in Capital market, capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets. Economists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include ''Laissez-faire capitalism, laissez-faire'' or free-market capitalism, anarcho-capitalism, state capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Immanuel Wallerstein
Immanuel Maurice Wallerstein (; September 28, 1930 – August 31, 2019) was an American sociologist and economic historian. He is perhaps best known for his development of the general approach in sociology which led to the emergence of his world-systems approach."Wallerstein, Immanuel (1930– )." The AZ Guide to Modern Social and Political Theorists. Ed. Noel Parker and Stuart Sim. Hertfordshire: Prentice Hall/Harvester Wheatsheaf, 1997. 372-76. Print. He was a Senior Research Scholar at Yale University from 2000 until his death in 2019, and published bimonthly syndicated commentaries through Agence Global on world affairs from October 1998 to July 2019. He was the 13th president of International Sociological Association (1994–1998). Personal life and education His parents, Sara Günsberg (born in 1895) and Menachem Lazar Wallerstein (born in 1890), were Polish Jews from Galicia who moved to Berlin, because of the World War, where they married in 1919. Two years later, Sara ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henri Pirenne
Henri Pirenne (; 23 December 1862 – 24 October 1935) was a Belgian historian. A medievalist of Walloon descent, he wrote a multivolume history of Belgium in French and became a prominent public intellectual. Pirenne made a lasting contribution to the study of cities that was a controversial interpretation of the end of Roman civilization and the rebirth of medieval urban culture. He also became prominent in the nonviolent resistance to the Germans who occupied Belgium in World War I. Henri Pirenne's reputation today rests on three contributions to European history: for what has become known as the Pirenne Thesis, concerning origins of the Middle Ages in reactive state formation and shifts in trade; for a distinctive view of Belgium's medieval history; and for his model of the development of the medieval city. Pirenne argued that profound social, economic, cultural, and religious movements in the long term resulted from equally profound underlying causes, and this attitude ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andre Gunder Frank
Andre Gunder Frank (February 24, 1929 – April 25, 2005) was a German-American sociologist and economic historian who promoted dependency theory after 1970 and world-systems theory after 1984. He employed some Marxian concepts on political economy, but rejected Marx's stages of history, and economic history generally. Biography Frank was born in Germany to, pacifist writer Leonhard Frank and his second wife Elena Maqenne Penswehr, but his family fled the country when the Nazis came to power. Frank received schooling in several places in Switzerland, where his family settled, until they emigrated to the United States in 1941. Frank's undergraduate studies were at Swarthmore College, founded as a Quaker college from which he gained an Economics degree in 1950. He earned his PhD in economics in 1957 at the University of Chicago. His doctorate was a study of Soviet agriculture entitled ''Growth and Productivity in Ukrainian Agriculture from 1928 to 1955''. Ironically, his dis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eugene D
Eugene may refer to: People and fictional characters * Eugene (given name), including a list of people and fictional characters with the given name * Eugene (actress) (born 1981), Kim Yoo-jin, South Korean actress and former member of the singing group S.E.S. * Eugene (wrestler), professional wrestler Nick Dinsmore * Franklin Eugene (producer), American film producer * Gene Eugene, stage name of Canadian born actor, record producer, engineer, composer and musician Gene Andrusco (1961–2000) * Wendell Eugene (1923–2017), American jazz musician Places Canada * Mount Eugene, in Nunavut; the highest mountain of the United States Range on Ellesmere Island United States * Eugene, Oregon, a city ** Eugene, OR Metropolitan Statistical Area ** Eugene (Amtrak station) * Eugene Apartments, NRHP-listed apartment complex in Portland, Oregon * Eugene, Indiana, an unincorporated town * Eugene, Missouri, an unincorporated town Business * Eugene Green Energy Standard, an inter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elizabeth Fox-Genovese
Elizabeth Ann Fox-Genovese (May 28, 1941 – January 2, 2007) was an American historian best known for her works on women and society in the Antebellum South. A Marxist early on in her career, she later converted to Roman Catholicism and became a primary voice of the conservative women's movement. She was awarded the National Humanities Medal in 2003. Biography Elizabeth Ann Fox was born in Boston, Massachusetts. She was the daughter of Cornell professor Edward Whiting Fox, a specialist in the history of modern Europe, and Elizabeth Mary (née Simon) Fox, whose brother was real estate mogul Robert Simon. Her father was Protestant, of English, Scottish and Irish descent; her mother was Jewish, from a family that immigrated from Germany. Elizabeth Fox studied at the Institut d'Etudes Politiques de Paris in France and attended Bryn Mawr College. From Bryn Mawer College in 1963, she received a BA in French and history. At Harvard University, she earned a Master's degree in history ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Late Capitalism
Late capitalism, late-stage capitalism, or end-stage capitalism is a term first used in print by German economist Werner Sombart around the turn of the 20th century. In the late 2010s, the term began to be used in the United States and Canada to refer to perceived absurdities, contradictions, crises, injustices, inequality, and exploitation created by modern business development. Later capitalism refers to the historical epoch since 1940, including the post–World War II economic expansion called the "golden age of capitalism". The expression already existed for a long time in continental Europe, before it gained popularity in the English-speaking world through the English translation of Ernest Mandel's book ''Late Capitalism'', published in 1975. The German original edition of Mandel's work was subtitled in "an attempt at an explanation", meaning that Mandel tried to provide an orthodox Marxist explanation of the post-war epoch in terms of Marx's theory of the capitalist mode ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Feudalism
Feudalism, also known as the feudal system, was the combination of the legal, economic, military, cultural and political customs that flourished in medieval Europe between the 9th and 15th centuries. Broadly defined, it was a way of structuring society around relationships that were derived from the holding of land in exchange for service or labour. Although it is derived from the Latin word ''feodum'' or ''feudum'' (fief), which was used during the Medieval period, the term ''feudalism'' and the system which it describes were not conceived of as a formal political system by the people who lived during the Middle Ages. The classic definition, by François Louis Ganshof (1944), François Louis Ganshof (1944). ''Qu'est-ce que la féodalité''. Translated into English by Philip Grierson as ''Feudalism'', with a foreword by F. M. Stenton, 1st ed.: New York and London, 1952; 2nd ed: 1961; 3rd ed.: 1976. describes a set of reciprocal legal and military obligations which existed am ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Homestead Act
The Homestead Acts were several laws in the United States by which an applicant could acquire ownership of government land or the public domain, typically called a homestead. In all, more than of public land, or nearly 10 percent of the total area of the United States, was given away free to 1.6 million homesteaders; most of the homesteads were west of the Mississippi River. An extension of the homestead principle in law, the Homestead Acts were an expression of the Free Soil policy of Northerners who wanted individual farmers to own and operate their own farms, as opposed to Southern slave-owners who wanted to buy up large tracts of land and use slave labor, thereby shutting out free white farmers. The first of the acts, the Homestead Act of 1862, opened up millions of acres. Any adult who had never taken up arms against the Federal government of the United States could apply. Women and immigrants who had applied for citizenship were eligible. Several additi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Transcontinental Railroad
North America's first transcontinental railroad (known originally as the "Pacific Railroad" and later as the " Overland Route") was a continuous railroad line constructed between 1863 and 1869 that connected the existing eastern U.S. rail network at Council Bluffs, Iowa with the Pacific coast at the Oakland Long Wharf on San Francisco Bay. The rail line was built by three private companies over public lands provided by extensive US land grants.Pacific Railroad Act of 1862, §2 & §3 Building was financed by both state and US government subsidy bonds as well as by company issued mortgage bonds.Pacific Railroad Act of 1862, §5 & §6 The Western Pacific Railroad Company built of track from the road's western terminus at Alameda/ Oakland to Sacramento, California. The Central Pacific Railroad Company of California (CPRR) constructed east from Sacramento to Promontory Summit, Utah Territory. The Union Pacific Railroad (UPRR) built from the road's eastern terminus at the Mis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
