History of capitalization Essay Example | Topics and Well Written Essays - 750 words

History of capitalization - Essay ExampleNeo-colonialism (that flourished by and by the 16th century) is just another name for Western influence by means of political, military and economic science of the third world (Naipaul 3). The European merchants benefitted a lot from the colonialism as the sub-states depended so much on their European masters the African colonies are the best examples of this dependency (Naipaul 75) that nurtured Merchant capitalist economy. People were buying things they didnt guide but they lacked the skill and knowledge to make things that people (especially in African colonies) (Naipaul 54) and the merchants capitalized on this. Africa wasnt the however colony that gave a boost to Merchant Capitalism, the Indian subcontinent was once the capital of world trade. During the 17th century, the world trade was governed by Mercantile Capitalism, and the Indian subcontinent was the busiest workshop of the world. That place alone contributed to nearly a bill et of global manufacturing output (Robins 61). Considering what mercantilism means, it shouldnt come as a surprise that various trade houses in India governed by people such as Amir Chand and Jagat Seth were wealthier than East India Company (Robins 65), which had massive military support and connections. The East India Company (a monopoly corporation) was an essential part of Englands commercial armory (Robins 48). This caller-up alone revolutionized the whole course pattern of the world. Other than capitalizing on merchant trade, this company was accompanied by the British navy and headed by a brilliant Merchant brain, Sir Josiah Child. Just like other triple-crown merchants of the world, Child believed that wealth lies in extracting as much as possible from the landed regions (Robins 48). India was known as the golden sparrow of the world and the East India Company had caught this bird and was enjoying the benefits. Child believed not only in military dominance but in commer cial conquest abroad (Robins 49) the typical merchant business scheme. He traded with Mughals and got the better part of the trade by taking Bengal (Robins 49). Despite the fact that Mercantile Capitalism enjoyed world domination for centuries but like all other business tactics, time makes them old and they suck up replaced by a newer and a better one. By the end of eighteenth century, neo-colonialism didnt remain as strong as it once used to be and lost its sparkle and with it went down the mercantile capitalism and the world witnessed the dawn of industrial Capitalism. With the start of the nineteenth century, great revolutions in Industrial field manifested and organise the basis for factory culture. Machines such as spinning jenny and cotton gin ruled the manufacturing suit and produced remarkable results in terms of efficient output. As opposed to Mercantile Capitalism, the new trade strategy focused more on capital intense market rather than going for labor intensive fl ea markets. Less labor meant more machine work, and this is where people like Walter Shewhart and Eli Whitney come in. They revolutionized the trade with their great inventions (Green 74). Industrial machines such as spinning wheel, Spinning Jenny, Handloom and Power Loom etc., brought industry and trade to new heights. productiveness skyrocketed, and thus came mass production at lower prices. Technology wasnt the only player in revolutionizing the trade business practices played a huge part in it. Andrew Carnegies name leave alone always be remembered in business reformation. Born in