THE GENESIS OF CAPITALISM

Abstract

This paper aims to offer a framework of interpreting the “evolution” of capitalism that is reaching every corner of the world and has achieved greater legitimacy than at any time in human history. It covers an interdisciplinary discussion on the development of market capitalism that has been characterized by a dual process: unanticipated origin (cultural and histori cal) and anticipated progress (political economy). The point of departure of this paper is that although the advancement of market capitalism is a process of societal development involving historical, cultural and religious causes (historical, divine, spiritual, miraculous), the establishment of capitalism is less the result of a force for cultural and economic dynamism than the realization of a political project. In other words, from being an enterprise within defined geographical boundaries to becoming a global project is first and foremost a transformative proce ss invol ving political repercussions as being dealt with here (enforce d variation, reshapin g, selection and distortion). In sum, the paper intends to problematize the significance of the evolutionary explanation, the culturalist approach a s well as the economistic perspectives on the birth and expansion of capitalism and instead emphasizes the role of political power in its development and present-day stage. Politics to a great extent is undertakings of coercion, rationalization, legitimization and imposition which are the essence of market capitalism itself, i.e. politically motivated social engineering.

Keywords

capitalism, market, religion, reformation, deformation, politics

How to Cite

Xing L. & , (2004) “THE GENESIS OF CAPITALISM”, American Review of Political Economy 2(2). doi: https://doi.org/10.38024/arpe.81

22

Views

8

Downloads

Share

Authors

Li Xing

Download

Issue

Dates

Licence

Identifiers

Peer Review

This article has been peer reviewed.

File Checksums (MD5)

  • PDF: dbb8e6b2e35afbd0959b697d42a9932a