What are the 4 phases of capitalism?

The Marxist periodization of capitalism into the stages: agricultural capitalism, merchant capitalism, industrial capitalism and state capitalism.

What is a capitalist world-system?

129-48), the capitalist world-economy is a system that involves a hierarchical and a spatial inequality of distribution based on the concentration of certain kinds of production in certain limited zones, which thereupon and thereby become the loci of the greatest accumulation of capital.

What does Marx mean by reproduction?

Michel Aglietta views economic reproduction as the process whereby the initial conditions necessary for economic activity to occur are constantly re-created. Marx viewed reproduction as the process by which society re-created itself, both materially and socially.

Which best describes capitalism?

Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society.

What are the 3 stages of capitalism?

In fact, the system of capitalism has gone through three distinct epochs, beginning with mercantile, moving on to classical (or competitive), and then evolving into Keynesianism or state capitalism in the 20th century before it would morph once more into the global capitalism we know today.

What is an example of capitalism?

One of the examples of capitalism has been the creation of mega-corporations owned by a set of private individuals and institutions. Minimal government intervention and protection of private property rights have enabled the creation of humongous companies.

What is social reproduction in capitalism?

Social reproduction refers to the processes that ensure the self-perpetuation of a social structure over time, in rough analogy to biological reproduction for a population. The idea of social reproduction has its origins in Karl Marx’s analysis of capitalist society in Volume 1 of Capital.

What is capitalism summary?

capitalism, or free-market economy or free-enterprise system, Economic system in which most of the means of production are privately owned, and production is guided and income distributed largely through the operation of markets. Capitalism has been dominant in the Western world since the end of mercantilism.