The Creation of Capitalism

3 units

Capitalism is now the dominant form of economic organization around the world. This course traces the rise of capitalism from its beginnings in late medieval Europe, through its development in the global trade connecting Europe to Africa, Asia, and the Americas, to its formative role in the Industrial Revolution of the early nineteenth century. How and why did capitalism emerge and expand to a position of such importance? Who profited from it and who resisted it? And how did numerous elites become convinced that capitalism was necessary and moral? Students will engage these questions through lectures and class discussions based on primary source readings such as merchant letters, economic legislation, and Adam Smith's The Wealth of Nations, as well as key works of historical scholarship on topics such as piracy, the Dutch tulipmania, and the Atlantic plantation economy. Assignments include weekly readings, short response assignments, open-note exams, and researching and developing a time-appropriate business plan.