Source: Foundation for Economic Education
by Sven Beckert
“It is impossible to pinpoint an exact place or moment when capitalism began. Capitalism is a process, not a discrete historical event with a beginning and an end, and it did not drop fully formed into a particular location. Even today, no society is organised along fully capitalist lines, and some have argued that a fully capitalist world is a theoretical impossibility. Efforts to isolate one patch of soil as capitalism’s place of origin — Florence, Barbados, Amsterdam, Baghdad, the southern English countryside, or Manchester, for example — have all proved insufficient. That is because the capitalist revolution had always been a process that drew energy from myriad sources.” (01/02/26)