Material Civilization, Economy and Capitalism

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Description

This lecture explores the historical development of material civilization, economy, and capitalism, focusing on the impact of wood as a foundational resource in early industries, the role of windmills in Dutch civilization, and the consequences of deforestation on industrialization. It delves into the transition from feudal to capitalist economies, the birth of political economy, and the challenges posed by forest degradation and industrialization. The lecture also discusses the evolution of energy regimes, the industrial revolution, and the societal transformations brought about by the market system. Through an analysis of historical events and economic theories, the instructor sheds light on the intricate relationship between technology, energy, and societal progress.

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https://mediaspace.epfl.ch/media/0_m0qco7ha

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Related lectures (16)

Related concepts (62)

Capitalism

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.

State capitalism

State capitalism is an economic system in which the state undertakes business and commercial (i.e. for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor). The definition can also include the state dominance of corporatized government agencies (agencies organized along business-management practices) or of public companies such as publicly listed corporations in which the state has controlling shares.

Market system

A market system (or market ecosystem) is any systematic process enabling many market players to offer and demand: helping buyers and sellers interact and make deals. It is not just the price mechanism but the entire system of regulation, qualification, credentials, reputations and clearing that surrounds that mechanism and makes it operate in a social context. Some authors use the term "market system" to refer to specifically to the free market system.

Market socialism

Market socialism is a type of economic system involving social ownership of the means of production within the framework of a market economy. Various models for such a system exist, usually involving some mix of public, cooperative, and privately owned enterprises. The central idea is that, as in capitalism, businesses compete for profits, however they will be "owned, or at least governed," by those who work in them. Market socialism differs from non-market socialism in that the market mechanism is utilized for the allocation of capital goods and the means of production.

Anti-capitalism

Anti-capitalism is a political ideology and movement encompassing a variety of attitudes and ideas that oppose capitalism. In this sense, anti-capitalists are those who wish to replace capitalism with another type of economic system, such as socialism or communism. Socialism Socialism advocates public or direct worker ownership and administration of the means of production and allocation of resources, and a society characterized by equal access to resources for all individuals, with an egalitarian method of compensation.