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Lecture #3 Marxist Economics

Policy@McCombs

CHAPTER

Marx's Theory of Capitalism

Karl Marx said that capitalism started by force. That is, the original accumulation of capitalism was not by the industrious, abstinent savor, so to speak, but by one man robbing another. He mentioned many different factors, one of which was the discovery of new wealth in the Indies and in America. The enclosure system, by which common land was enclosed in order to raise sheep for the new sheep industry also played a role.

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