labour studies note 1.docx - Capitalism and the Transformation of Winnipeg Working Life 1 From Feudalism to Capitalism in England 1 What is Capitalism 2

labour studies note 1.docx - Capitalism and the...

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Capitalism and the Transformation of Winnipeg Working Life 1 From Feudalism to Capitalism in England 1. What is Capitalism? 2. The Development of Capitalism in England a) The Transformation of Agriculture b) Early Manufacturing c) The First Industrial Revolution What is Capitalism? (Me) Capitalism is working for someone else. Getting paid for doing a skill. Introducing a working class. (Partner) Working for money not food or clothes. Having more than just living expense Time oriented (Class) Mode of production Individuals wealth expansion Ownership private property land $ Labour bought and sold for wages (Teacher) Not a way of thinking, shape the way we think and our ideas. A mode of production as 3 key features 1. Most goods and services are produced for sale (produced as commodity) (before most were produced for immediate consumption. 2. Competition 3. Labour power is a commodity (ability of people able to work) (buying selling to work) (market ready society) Adam Smith – Scottish – founding Farther on modern Economics o Naturally given to trade o Capitalism was natural o
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