Capitalism. Readings in historical sociology

Why has the West dominated the world and what role has capitalism played in its expansion? Did capitalism start in the medieval Venice republic that developed sophisticated banking system or during the British industrial revolution and mass production? How did slavery in the Americas and serfdom in Eastern Europe add to the development of capitalism? Is it an economic system based on free labor and free market? Or does capitalism’s profit-orientation have to lead to inequality and monopolistic enterprises? Is the power of Apple, Google and Amazon a collateral damage of capitalism or its necessary product? How is war connected with capitalist competition? The course provides an overview of the classic and new explanations of how capitalism emerged, why it did so in the West and how it has expanded into the rest of the world. We will discuss the role of international trade, labor, war and ideological justifications (meritocracy, racism, religion and ‘Western values’) for capitalism.

Why has the West dominated the world and what role has capitalism played in its expansion? Did capitalism start in the medieval Venice republic that developed sophisticated banking system or during the British industrial revolution and mass production? How did slavery in the Americas and serfdom in Eastern Europe add to the development of capitalism? Is it an economic system based on free labor and free market? Or does capitalism’s profit-orientation have to lead to inequality and monopolistic enterprises? Is the power of Apple, Google and Amazon a collateral damage of capitalism or its necessary product? How is war connected with capitalist competition? The course provides an overview of the classic and new explanations of how capitalism emerged, why it did so in the West and how it has expanded into the rest of the world. We will discuss the role of international trade, labor, war and ideological justifications (meritocracy, racism, religion and ‘Western values’) for capitalism.

Proposed topics:

1. Introduction and overview

2. Warming up class: lockdown, capitalism and exploitation.

The Lockdown showed how the economy exploits women. She already knew. (about Silvia Federici’s ideas), “The New York Times Magazine”, Feb 17, 2021, https://www.nytimes.com/2021/02/17/magazine/waged-housework.html

3. Shoshana Zuboff, The age of invigilation capitalism

4-5. Recent debate and New History of Capitalism in the US

4. Sven Beckert, Monied Metropolis, fragments

5. Sven Beckert, The Empire of Cotton, fragments

6. Critical account of New history of capitalism: Philip Magness, https://economic-historian.com/2020/09/a-comment-on-the-new-history-of-capitalism/

7-8. Classics on the origins of capitalism

7. Werner Sombart, The Jews and Modern Capitalism (1911), fragments

Max Weber – Protestant Ethic and Origin of Capitalism, fragments

8. Karl Marx, The Capital, volume 1, fragments

9-11. Mid-20th century debate: World-system, empire, free market, capitalism

9. Fernand Braudel, Civilization and capitalism, vol. 3, chapter 1

10. Immanuel Wallerstein, Modern World-System I, chapter 1

11. Immanuel Wallerstein, recorded lecture on the 21st capitalism:

Interview with IW on the crisis of the capitalist world system, Kontext TV, Freie Universitat Berlin: https://www.youtube.com/watch?v=riK3dlgusrI

Fernand Braudel, Civilization and capitalism, vol. 3, selected fragments including the conclusion

12-13. Recent accounts of capitalism (with policy implications)

12. David Graeber, Bullshit jobs https://www.atlasofplaces.com/essays/on-the-phenomenon-of-bullshit-jobs/

Graeber's obituary 2020: https://www.theguardian.com/science/2020/sep/06/david-graeber-obituary

Graeber's autobiography: https://davidgraeber.org/about-david-graeber/

13. Thomas Piketty, Capital and ideology (Recorded lecture), March 2021: https://www.youtube.com/watch?v=WJUowgzGFck

Fragment of Piketty's Capital and Ideology, pp: 1, 16-35, 42-45, 51-54.

14. Silvia Federici, Caliban and the witch: women, the body and primitive accumulation, fragments; Recorded lecture: https://www.youtube.com/watch?v=tw5Sld1MVAU

15. Conclusion and evaluation

K_W01 Knows and understands basic concepts of historical sociology of capitalism: capitalist world-system, free market versus capitalism, primitive capital accumulation, international division of labor/wealth/income

K_W03 Is aware of ongoing theoretical and methodological disputes conducted in modern historical sociology of capitalism; is reflective and critical of various positions

K_W16 Has in-depth knowledge about major international historical-sociological research pertaining to capitalism and global economic development

K_W27 Has basic knowledge of the early modern social and economic processes which have shaped the face of the modern world

K_U04 Can critically select information and materials for academic work, using various sources in Polish and English as well as modern technologies

K_U19 Can prepare a presentation of a selected problem or study in English

K_K10 Independently sets directions of personal development and further learning

Final grade will assess:

In class discussion of the readings including a single 15-20 minute presentation of the main theses of the assigned materials. (55%)

Assessment of each participant’s individual activity during the classes will be carried out by the teacher together with the students at one of the final meeting

Final oral exam that covers main theses of the discussed materials (45%). The exam will be organized at the final meeting of the class.

Up to two absences are allowed. Those students who have been absent more than twice (but with no more that 45% absences) are expected to prepare and send the teacher short resumes of the main readings they missed. The type and form of second term exam are identical with the first one.