Midterm Flashcards
Colonialism
1st major stage of capitalism expansion, domination over another territory and it’s people. Includes free and unfree labour
Mechanisms of capitalism
Ideology, law, armed force
3 conditions of Capitalism
Resources, labour, markets
Global economy
Production of one thing is done all over the place
World economy
One country exports a finished good to others
Historical Materialism (Marx)
Material conditions in which one lives, the activities they undertake to produce their existence
Labour Power
Selling your ability to work in exchange for a wage
Primitive Accumulation
Privatization of land, creating a mass of landless people
What happened during the birth of capitalism
Birth of capitalism was based all around accumulation by dispossession, the privatization of land, forcing workers to contribute to the means of production in order to survive
Birth of colonialism?
Colonialism was the first major stage of capitalism, domination of one country/territory over another. It gave rise to slavery, and satisfied capitalism’s need for a global scale.
Four Primary Features of Capitalism
means of production, maximizing profit, (via) exploitation of wage labour, the exchange of goods and services in a free market
Neoliberalism as a system
Policies that promotes the interests of private enterprises that eliminates any remaining barriers to capitals source for resources, labour and markets
