The Transition from feudalism to Capitalism: Continue.....
5. POOR PRODUCTIVE FORCES DURING FEUDALISM.
Due to poor productive forces during feudalism a large number of people were highly discouraged to engage in agricultural production consequently most of them preferred to participate in trade since it seemed to be more profitable than engaging in agriculture. This made the feudal lord to sell their farm so as to engage in trade.
6. MONETIZATION [Introduction of Money]
Before the introduction of money a system of transaction that existed in Europe was batter system, as a result exchange was not only difficult but also unequal and unpredictable.
The introduction of gold and silver as a median of exchange in Europe had intensified trading activities and the system of transaction [exchange] became more or less equal and most people became anxious anger of processing gold and silver. These include the landlord who started to demand rent in money instead of rent in labor and kind. Later because of their ambitious to possess money they decided to sell the land all together to the imaging capitalist hence the collapse of feudalism and rise of capitalism.
6. SUBSTITUTION OF LABOUR RENT AND RENT IN KIND FOR MONEY PAYMENT (MONETIZATION)
The introduction of money by merchants and artisans in feudal economy made the land lords to demand serfs not to pay in labour services and rent in kind but pay in cash, hence the tenants became with enough money so they decided to buy their land, and other serfs had to buy their land. Money led to the decline of feudalism because it broke the link between land lords and tenants. Also other land lords decided to sell their land and engage in trade hence the rise of mercantilism which is the foundation of capitalism.
7. BURBONIC PLAGUE OR BLACK DEATH DISEASES
The pandemic brought negative impacts to the system of feudalism, the disease killed many people thus created scarcity of labour power in feudal farms. Also the plague led to migration of serfs from rural areas to urban areas. Scarcity of labour led to the rise of the value of laborers hence introduction of wage labour.
8. AGRARIAN REVOLUTION
9. DEMOGRAPHIC REVOLUTION
10. SCIENTIFIC REVOLUTION
11. POLITICAL REVOLUTION
MERCANTILISM
This is a process of primitive accumulation of capital which is characterized by overseas trade where by the traders bought goods at a very cheap price and sold them at a very high price for maximization of profit.
This process of mercantilism had started in Europe particularly in England since 1450 up to 1800. In fact it is considered to be a base for the rise of capitalism or the initial stage of Capitalism.
The merchants in this process of mercantilism were accumulating capital inform of Bullion [gold and silver] since by that time they were regarded as medium of exchange [money]
CHARACTERISTICS OF MERCANTILISM
1. STATE UNIFICATION
From 1450 to 1800 many European states were in the process of state or national unification. In England for instance under King Henry V111 England was unified from the small independent feudal states to a single entity under one King.The state unification in England was made through a civil war which was famously known as the war of roses that lasted for 30 years.After this unification the imperial government under King Henry had introduced a lot of changes for instance abolition of internal tariffs the establishment of national army which was standing and professional. Also he introduced a law that required everyone to work while at the same time he increased the working hours at a limited wages.This collectively not only that they have contributed for the development of mercantilism but also the rise of capitalism.
2. BULLIONISM
This was the process of accumulation of capital conducted inform of gold and silver (precious metals). During that period of mercantilism gold and silver were regarded as a symbol of wealth not only for individual but also a nation, so people started to struggle for accumulation of gold and silver which later led civil war.
This process of bullionism led to the development of overseas trade where by some people traveled to a very far distance [Africa, South, and North America] to look for gold and silver. This led to the development of financial system i.e. banking so finally the rise of capitalism.
3. PROTECTIONISM.
Under a strong absolute monarchy state, the parliament of England have passed laws to protect the home industries and market by discouraging the importation of goods and encourage exportation of goods to other countries.
In England this policy of protectionism was conducted by introducing the import duties, paid for the importation of goods hence consequently the home industries enjoyed not only a reliable home market but also the external market because that system was yet to be introduced in other countries. This protectionism led to the development of merchantalism as well as capitalism.
4. COLONIAL EXPANSIONISM.
From 1450, due to improvement in marine technology some of the European countries i.e. Portugal, Spain, France, England started to extend their territorial control over other states in North America and West Indies. This expansionism was contributed by their searching for gold and silver in the process of bullionism hence later they opened up mining centers as well as agricultural plantations which provided them with abundant mineral resources and enough raw materials which later encourage development of mercantilism and the industrial revolution hence the rise of capitalism. Britain came a little later than Portuguese and the Spanish. It was in the 17th Century when Britain became interested in the acquisition of colonies where she conquered North America and West Indies. This colonial expansion also contributed to the establishment and development of triangular slave trade where by the massive African working populations were constantly shipped to North America and West Indies to work in plantations and mining centers. This trade became the basis of European mercantilism under every significant factor for the rise of capitalism.
5. MILITARISM.
Militarism is the building up of strong national army which includes the size [number] of the army and improvement on weapon production. During this time of mercantilism the Western European countries were so busy in establishment of the large army, intense weapons and number of soldiers. This was essential so as to enhance the completion of the process of state or national unification as well as colonial expansionism. Also militarism was necessary in the process of accumulation of capital through various illegal means i.e looting, kidnapping, robbery, piracy on high seas and even through war among European nations themselves.
6. NATIONAL RIVALRIES.
FACTORS FOR THE RISE OF MERCANTILISM
1. THE DISCOVERY OF MARINE TECHNOLOGY
The discovery of marine technology included ship building as well as invention of compass direction. This had enhanced the mercantile to start to undertake the long distance overseas journey to other continents like Africa, America, India and Far East [Asia]. Also there was some development and changes after the discoveries of compass direction and clock watch. The Portuguese and Spanish were the first to develop that technology, the British and French came later.
The discoveries of Marine technology had contributed to the rise of mercantilism by making the sea transportation more reliable and confident as result a large number of people started to participate in overseas trade in looking for mineral wealth and raw materials. Also revolution in marine technology led to the rise and development of triangular trading which almost of West European countries had participated so to be considered as another base for rise of Capitalism.
2. THE DISCOVERY OF AMERICA AND THE WEST INDIES BETWEEN 1492/1504
After the discovery of America and the West Indies by Christopher Columbus a large number of the European traders started to floor to those continents to look for some metals especially Gold and Silver which was adequately available in the areas. Also the land of America and West Indies was very fertile for agricultural production. This pulled the attention of the Europeans to go to America and West Indies to open up agricultural plantation.
The discovery of America and the West Indies led to the constant flowing of traders of immigrant which went together with the establishing plantations and mining centers that created a big problem of labour. To overcome this problem Triangular slave trade was introduced hence the rise of mercantilism.
3. DISCOVERY OF MONEY AS THE MEDIUM OF EXCHANGE
From the 15th Century Gold and Silver began to be used as then medium of exchange in most part of Europe and also they were the symbol of wealth not only to the individual level but also the national level. So the one who possess more gold and silver was regarded richest and respectable. This led to the development of bullionism were by traders or merchants were travelling very far distance to accumulate wealth in form of gold and silver.
4. POOR DEVELOPMENT OF PRODUCTIVE FORCES DURING FEUDALISM
During feudalism the productive forces were poor developed, the most important instrument of labour was a hand hoe and harrow, and a most common object of labour was land. These productive forces made the agricultural productivity to be low so mainly for subsistence. In general production was for consumption. This discouraged people from engaging in agricultural production rather they preferred engaging in commercial activities [trade].The capitalist class had invested more in commercial sector than agriculture after being discouraged by poor productive forces which gave them poor product and consequently low profit. This attracted feudal lords to sell their land and engage in trade.
5. THE PERIODIC TRADE FAIR
This was international trade fair which was conducted by some of European countries in a certain towns in a period of time. Mostly that trade fair was organized in towns of Liverpool, Manchester, Nantes and Amsterdam.
This periodic trade fairs contributed to the rise of mercantilism by bringing together a lot of traders from various parts of Europe also by acting as a place of advertising the items and commodities which later had to motivate international trade and so the rise of mercantilism.
6. THE DISCOVERY OF ROUTE TO INDIA THROUGH THE CAPE OF GOOD HOPE
In 1498 Vasco da Gama in his trip for searching a route to India he reached the Cape of Good Hope in South Africa. But before reaching there he passed through the Western coast of Africa were he saw the abundance supply gold in in Gold Coast [Ghana].Also after cape town he advanced to the Eastern part of Africa where he witnessed Mwenemutapa gold. The discoveries later led to the rise and development of triangular slave trade for Western and Central Africa and East Africa slave trade for East Africa people consequently the rise of mercantilism.
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