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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.