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New Polity

Good Money: The Invention of Capitalism

Nov 9, 2022
Exploring the choices between slavery and the market, the impact of possessing new technology, the concept of being a 'god' with access to new technologies, the role of primitive accumulation in the development of capitalism, the contradictory portrayal of work in history, the concept of idleness and its impact on the feudal period, the economic analysis of Adam Smith and the power of the state, the influence of capitalism on work and leisure, the origins of game laws and the impact of land enclosure on society, the definition of socialism as state capitalism, and the concept of scarcity and its influence on the value of goods.
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Podcast summary created with Snipd AI

Quick takeaways

  • The dissociation of work from leisure during the rise of capitalism led to a negative perception of holidays as unproductive and a waste of time.
  • The introduction of game laws and the privatization of land eroded the ability of individuals to sustain themselves through subsistence living.

Deep dives

The Decline of Holidays and the Perception of Idleness

During the Middle Ages, there were numerous holidays and festivities that provided a break from work and allowed for communal celebration. However, with the rise of capitalism and the dissociation of work from leisure, holidays began to be seen as idleness and a waste of time. The perception shifted so that work became synonymous with wage labor, and any time spent not earning money was considered unproductive. This fundamental change in mindset reflected the shift towards a society driven by profit and productivity.

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