Confronting Capitalism with Vivek Chibber The Origins of Capitalism
Sep 24, 2025
Vivek Chibber, a Professor of Sociology at NYU and editor of Catalyst, dives deep into the intricate origins of capitalism. He challenges the idea that colonial plunder was a primary driver, arguing instead that wealth needed a transformed social context to become capital. Chibber also explains how peasants were forcibly integrated into markets through enclosures and critiques the narrative that merchants alone birthed capitalism. Misconceptions around Weber's Protestant ethic and ongoing primitive accumulation shed light on capitalism's persistent evolution.
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Left Meetings Are No Fun, Says Chibber
- Vivek Chibber joked he hasn't had a good experience at a left meeting, highlighting activist frustrations.
- He used the comment to emphasize the need to rebuild a class-focused left.
Money Becomes Capital Only After Social Change
- Primitive accumulation is not just an initial hoard of money but a change in social relations that makes money function as capital.
- Money only becomes capital when class structures shift so owners invest to maximize profit rather than for feudal uses.
Treasure Didn’t Trigger Capitalism
- Spain and Portugal received massive treasure yet stagnated economically instead of becoming capitalist powerhouses.
- England industrialized without an early empire, showing plunder wasn't the trigger for capitalism.
