Fulcher what was going to happen and the best

Fulcher in his book Capitalism a Very Short Introduction describes capitalism as an investment of money to make money. Capitalism was a key thing in merchant capitalism. In 1600 Britain the spice trade is a great example of capitalism because merchants needed large sums of capital for their long-distance trade to the east indies but it was a very risky business because most of the time, not all the boats came back because of raiding, storms, and bad leadership. This business relies on having multiple boats ships spices at different times to give them the best chance for most of their investment to come back in one piece. Another reason why the English East India Company achieve high profits because they secure a monopoly on the trade by one means or another. They also limited their competitors and controlled the market in every way. In industrial capitalism in the 1700s in the cotton industry is another example that demonstrates Fulcher definition of capitalism because this time in the cotton industry you need to buy cotton machinery and buy a building to be able to make a finished product with cotton efficiently. This means they had to invest their money to be able to make money out of there cotton. Unlike the merchant example, no one had a monopoly on cotton so cotton companies control the prices through using inexperience and child workers to keep their cost low. In addition, cotton companies also tried to merge or buy out their competitors to get more control of the industry. The last example is financial capitalism used in trading stocks in the stock market even though this example is the riskiest of the three but it is the one that can make you the most money if you play your cards like and you get lucky. This one still works with Fulcher definitions because they are investing their money in hope that they can get a huge return. The problem with this one is that you just do not know what was going to happen and the best thing to do is just do not go for the huge profits even though it’s tempting.Another key question that was asked in these chapters was where does capitalism come from. Capitalism had its breakthrough in Britain in the 18th century. Three key things cause the dawn of the capitalist movement. The first one was the spreading of market relationships and the growth of consumption that made a huge demand. Which made investing in industrial production very profitable. The growth of consumption took place because in the 16th century more and more families started to rely on wage labor. In this period over half, households were at least partly dependent on wage labor and were growing rapidly. The second factor was feudalism that came before capitalism that made a path for capitalism in Western Europe where lords had less control of villages than the east.  Feudalism gave people power and wealth through the control of land and the production for consumption. Even though many believe feudalism as anti-capitalist. Capitalism just takes the lords and makes them into owners that rent their land to peasant and the peasant had to make their money by wage labor or sale of produce in markets.  Also, the class conflict in feudalism leads the way to capitalism because lords were always trying to take more and more money away from the peasants and the peasants fought back by taking advantage of labor shortages to free themselves from feudal obligations and obtain salaries for their labor. The last thing is that no one country control all of Europe. This multi-state structure was great for capitalism two to thrive in because Europe never completely fell apart and kingdoms that gave enough order for economic improvement. Since Europe is divided into many different countries, it made it easier for entrepreneurs to keep moving from areas of economic downfall to more prosperous areas that were not as strict as other countries. I also believe that the correlation between Christian values and ideas with the spirit of capitalism. Max Weber found this out when he was looking at protestant and saw their ideas of saving instead of spending that lead to capital. In addition, Protestants have brought their religious discipline of the church into a daily thing.The last chapter was about the three types of capitalism, which are Anarchic, Managed, and Remarketized capitalism. In Anarchic capitalism, industries were competitive small-scale manufacturing, little labor unions, no regulation, strong state, and little state welfare. While Managed capitalism there started to be an increasing amount of large corporation, more state regulation, more state welfare, more public ownership, and individuality disappear. Then Remarketized capitalism has increased state regulation, more independence but less protected life, greater inequality, and the deterioration of unions that have made it more difficult to fight for a better wage. You can see how capitalism has changed over years while it first started out with small competitive companies, which turn into large corporations. The main thing you see is the rise and fall of unions, regulations, state welfare. They all started in the first stage as nonexistent and when they went into the second stage, they all started to be important. Then all of a sudden in the third stage, unions start to disappear or become not as useful but state regulations increases and welfare fluctuate. All of these things show what is most important for people at that specific time. For example, when manage went to remarketized capitalism equality and security was sacrificed for more independence and choice.Now I can say I have a better understanding of what capitalism is, where it came from, and how capitalism has changed over time. Capitalism will always keep changing because wants and needs of people will always be changing. There will be times when a thing is more regulated and strict and other times that it will be more laid back. People will always decide their own fate because, in the end, they decide what is important to them and the three types of capitalism is a reflection of that.


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