SOCIOL 120 Lecture Notes - Lecture 12: Overproduction, Cotton Gin, Underconsumption
Document Summary
{project paper look into london times or foreign papers for foreign issues, climate issues and solutions (paris accords)} State and rules exch, governance, and control. Slavery and state action: def people as property, created rights on property owners. Impact on market formation: primitive accumulation of capital. Reliance on capitalists to control slave market (but also police powers of state) Reliance on state to mediate competition with industrial capitalism (great compromise) Tech of slave capitalism the shift from tobacco to cotton and the invention of the cotton gin. Textiles (slave capitalism could provide cheap cotton) Free labor - free capital (free to hire and fire workers as it makes sense for profits) More efficient as slaves were not being exploited nearly as much as people being paid wages. In factory work must be voluntary as work is complex or they will not do it. Why does there need to be a war.
