The Invention of Capitalism
Classical Political Economy and the Secret History of Primitive Accumulation
Ranked #95 in Capitalism
The originators of classical political economy—Adam Smith, David Ricardo, James Steuart, and others—created a discourse that explained the logic, the origin, and, in many respects, the essential rightness of capitalism. But, in the great texts of that discourse, these writers downplayed a crucial requirement for capitalism’s creation: For it to succeed, peasants would have to abandon their self-sufficient lifestyle and go to work for wages in a factory. Why would they willingly do this?
Clearly, they did not go willingly. As Michael Perelman shows, they were forced into the factories... more
Clearly, they did not go willingly. As Michael Perelman shows, they were forced into the factories... more
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