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Changes to Capitalism

In: Business and Management

Submitted By sarahejohn
Words 1370
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Winter
Economics
13
Winter
Economics
13
The Changes to Capitalism
January 28, 2013 Sarah Evelyn Johnson
Assignment 1: Econ 1020
The Changes to Capitalism
January 28, 2013 Sarah Evelyn Johnson
Assignment 1: Econ 1020
08
Fall
08
Fall

Although capitalism has only been around for two short centuries, it has vastly changed the way that society functions from the pre-capitalist era of economics. The world has taken a trip to a completely different way of working and functioning through what is just for people, what commodities are and the way people use their resources. The first major economic system that is traceable is that of the primitive economies, the early eras of society. Human behavior has evolved along with the rest of the world and how people act is directly responsible to what time period that they lived in and how they changed economics. First, in primitive economics, the main driving force was having enough supplies to survive and to strengthen communal bonds through cooperation of the tribe. During this time period resources and material wealth were largely shared with all members of the community to support reciprocity, everyone had equal income and would preform tasks for each other. Along with reciprocity, the chief or shaman sometimes redistributed goods for fairness and there was a division of labor. According to Polanyi, “Division of labor, a phenomenon as old as society, springs from differences inherent in the facts of sex, geography and individual endowment” (1957). This division consisted of women being the gatherers of fruits and vegetables for the community, and men doing all of the hunting and fishing. Through success of society with hunting and gathering, stone tools and collective decision making, the world transformed to the Greco-Roman Slave economy.
The Greco-Roman Slave time in economics was...

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