What Role Did Feudalism Play In The Industrial Revolution

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Along these lines the grave harvest is a decent contender for slave work since subjugation makes tight control of the work power neither unreasonable nor too hard. Planters more than likely felt as if they had to conduct free labor in order to turn enough profit to maintain or gain wealth. Capitalism is one process by which the problems of economic production and resource distribution might be resolved. Instead of planning economic decisions forcefully, as with socialism or feudalism, economic planning under capitalism occurs with decentralization and voluntary decisions. The whole point of capitalism is to take advantage of the circumstance and slavery did just that for farmers in this day in age. Africans would just work, work, work, without pay, pay, pay which made the farmers’ profits go up, up, up and this exactly what the farmers wanted. In order for the plant production to expand, planters just starting giving out needed loans to buy slaves and land. A resulting organization of this would be the joint-stock company, in which investors can contribute variable sums of money to fund the venture. In doing so they become joint holders of the trading stock of the company, with a right to share in any profits in proportion to the size of their holding. Once the idea of capitalism appeared, it quickly spread. England's unique economic position both assisted and was assisted by the development of the colonies. The capitalist transformation of agriculture helped to create a landless proletariat which was available for immigration or for wage labour in England. The profits of slavery were central to the primitive accumulation which paved the way for English industrialisation. The change of the English economy made a …show more content…

The age of slavery indeed was a terrible time but could be looked upon as a bad business

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