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Capitalism in the Eighteenth Century

October 15, 2012

Adam Smith (1723-1790)

Below please find web questions based on Chapter Two of James Fulcher’s Capitalism: A Very Short Introduction, written by your classmate, Peter Fiorentino.

  • The eighteenth-century was a time in which capitalism began to flourish in Europe, and especially in Great Britain. What were the factors that made capitalist production take off in Great Britain during that century?
  • What is the most commonly argued reason for the decline of feudal economic relationships in Europe? Why did these decline earlier in England than in other places?
  • How did the growth of capitalist practices in eighteenth-century Britain pave the way for industrialization in the nineteenth century?
2 Comments leave one →
  1. Syed permalink
    November 2, 2012 1:12 pm

    Britains was the first industrial nation in nineteenth Century. Industrialization allowed people to work outside of their houses or plants. People started earning wages instead of producing their necessity. people became more depended on the industrialization for their necessity. since, Britain was the first county to championed industrialization,thats why it allowed capitalist practices arise from there. According to the definition of feudalism “Power And wealth were linked to the control of land not the ownership of capital”. industrialization changed this prospective. industrialization allowed people to go outside of their own land and work for wages. England pioneered in industrialization and capitalism before any other county country thats why feudalism declined earlier in England than any other country. In eighteenth century there are clear proof of employee and worker relation, trade unions,which are very common elements of capitalism. The labor control by the owner of industries allowed the production rise dramatically which is another common practice of capitalism. Geological and Economic structure allowed England to became the First Industrialized and capitalist country. It was also possible because of their vast resources from their empires all around the world.

  2. Richard Cabral permalink
    December 18, 2012 6:49 am

    It primarily because of the industrialization that was happening in England. They had need for products and materials so capitalism would bloom in this time. There was also high agriculture in the area which lead to increase in population. With the high population boost there plenty of people who didn’t need to work on a farm, people could specialize in a field and work away from the home. The number one cause was industrialization itself which lead to the end of feudalism. Since England was the first to industrialize that explains why feudalism declined there first.Well with England doing most of the learning with the new system, others that followed could avoid the mistakes that they made along the way.

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