GEOG 100 Lecture Notes - Lecture 2: Clipper, Dominate, Fixed Capital
23 Jan 2018
School
Department
Course
Professor
Document Summary
Lecture 2b: places and regions in global context industrial capitalism. Industrial capitalism: by c 1775, european merchants had aggressively penetrated many markets across the world. However, european economic power and territorial presence still restricted. From c 1750 onwards, europe and then later other regions in the north of the world began to pull ahead of the rest of the world. In earlier forms, many small independent concentrations of producers could be found, working on the land, or producing products at small scale for local consumption, or sale to merchants. The merchant has little control over the production process. Under industrial capitalism, production occurs not by independent producers, but by a class of workers who work under the direction of an industrial class that owns machinery, capital, raw materials. Production in textile industry in england in mid (18th relied on the putting out" system: merchants would distribute raw materials to workers to process in their own homes, using simple technologies.
