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View Diary: A Thought Experiment on Capitalism (81 comments)

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  •  Capitalism came out of the crisis of feudalism (1+ / 0-)
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    Tonedevil

    after the Black Death of 1348-1351 -- with one-third of Europe dead, the working class was in a position to demand a better standard of living, but since the working class was composed of peasants living under a manorial system (aka feudalism), there were no higher wages to demand.  So from the perspective of the nobility something had to be done to maintain a structure of class privilege in light of crises of old frameworks of exploitation.

    The nobility responded, over time, either by imposing "absolute" monarchies over the workers (what the French did), or by privatizing the commons upon which the workers resided and herding the workers into cities (which is what the English did).  The second option, the English one, became global capitalism.

    "America no longer has a left-wing." -- Paul Craig Roberts

    by Cassiodorus on Fri Aug 09, 2013 at 08:46:50 AM PDT

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