Historical geography's of Capitalism Flashcards
What drives growth/expansion/innovation under capitalism?
Coersive laws of competition
What is the coercive laws of competition?
Result of the capitalist mode of production, which requires capitalists to continuously innovate and expand production in order to survive in a competitive market.
This competition drives capitalists to constantly seek ways to increase efficiency, lower costs, and increase profits. In order to do so, they often resort to exploitative labor practices, which include keeping wages low and minimizing workers’ rights, and also to aggressive marketing tactics that drive weaker competitors out of business.
Ultimately, this creates a vicious cycle where capitalists are compelled to continuously innovate and expand production, even when it is not in their long-term interest to do so.
What do the coersive laws of competition lead to?
This leads to overproduction, overaccumulation, and periodic crises of overproduction and overaccumulation.
What is the surplus absorption problem?
The surplus absorption problem refers to the issue of overproduction of goods within capitalism and the difficulty in finding markets to absorb the surplus production.
What is meant by “Spatial Fix”?
“Spatial Fix” is a term used to describe the process by which capitalism overcomes its crisis of overaccumulation by expanding into new territories, either within the existing capitalist economy or beyond it.
The concept refers to the geographical and spatial dimensions of capitalist accumulation, and how the system needs to constantly find new markets, resources, and places to invest its surplus capital to maintain its growth and profits.
This often involves exploiting new territories, displacing populations, and transforming landscapes, as well as creating new forms of economic, social, and political relations.
What does M - M mean?
M-M refers to a form of capital accumulation that involves investing money in various financial assets, rather than using it to purchase tangible goods or invest in production. T
his can include real estate, stocks, bonds, and other financial instruments.
The goal is to earn a return on the investment, through the appreciation of the value of the asset, or through income generated from the asset, such as rental income or dividends. In some cases, M-M investments can be speculative, with investors betting on the future value of an asset rather than its current use or income-generating potential.
How does The crisis of overaccumulation, Spatial fix and M-M’ relate to Creative destruction?
The concept of “creative destruction” refers to the continual process of innovation and technological change leading to the destruction of established industries and businesses, and the creation of new ones in their place.
The crisis of overaccumulation, where surplus capital is not being absorbed by profitable investment opportunities, is one of the forces driving creative destruction in capitalism.
The spatial fix is one way that the capitalist system seeks to resolve this crisis by expanding into new territories and markets. M-M’ refers to the process of using money to make more money, which is another aspect of the financialization of the economy and the constant search for profitable investment opportunities.
All of these concepts are interrelated in the sense that they reflect the ongoing dynamism of capitalism and its constant drive towards growth and expansion, which inevitably leads to the displacement of older forms of economic activity and the creation of new ones.
What are the Urban origins of Capitalism?
The urban origins of capitalism include the fall of the Roman Empire, the medieval autarky, the Crusades, long-distance trade, the protection offered by city walls and the feudal system, and the emergence of urban incubation.
What is Midevil Autarky?
Medieval autarky refers to a period during the Middle Ages where communities were largely self-sufficient and did not rely on trade with other regions or countries.
This was due in part to the limited transportation and communication technology at the time, which made long-distance trade difficult.
However, the Crusades and other factors contributed to the rise of long-distance trade, which led to the development of urban centers and the origins of capitalism.
How are city walls and feudal protection related to the origins of Capitalism?
City walls were built as a form of defense against potential invasions, which provided protection for people living inside. With the rise of feudalism, lords controlled land and exercised power over peasants.
The city walls served as a physical barrier that kept the feudal lords out, enabling the development of a distinct urban society with its own culture, economy, and political organization.
This protection allowed urban society to flourish, giving rise to an environment in which merchants and traders could safely conduct commerce and make profits.
What dose the term Urban incubation refer to?
urban incubation refers to the ways in which medieval cities provided a supportive environment for the growth of capitalist relations. This included the development of city charters that granted rights and autonomy to urban merchants, the rise of a class of wealthy urban entrepreneurs, and the creation of markets that allowed for the exchange of goods and services.
What does the quite “The air will make you free” refer to?
The phrase “city air makes you free” captures the idea that peasants who moved to the city and lived there long enough were able to escape feudal obligations and gain a degree of freedom that was not available to them in the countryside.
What was the significance of the second wall that was formed around central city walls?
The second wall formed around the central walls of cities, known as “The faubourg,” created a market district outside of the original city walls. Merchants gained more autonomy and control of cities, and these new areas became centers for trade and commerce, further driving the development of capitalism
