1 -- L'evoluzione del capitalismo dal Settecento a oggi -- Valerio Castronovo

Summary

The video explores the origins and evolution of capitalism, from Schumpeter's definition of it as a system driven by competition and innovation to Marx's analysis of its contradictions. It discusses how capitalism emerged during the Renaissance, accelerated by geographic explorations and the rise of new social actors such as merchants and entrepreneurs. The rise of industrial capitalism in the 18th century is highlighted, with Adam Smith's ideas on free markets and individual interests shaping modern economic thought. The evolution of capitalism into an industrial global economy is traced, particularly its expansion in Britain during the Industrial Revolution.

Takeaways

• 😀 Capitalism is a system that produces increasing wealth and innovation through competition among multiple actors, as defined by economist Joseph Schumpeter.
• 😀 According to Schumpeter, capitalism thrives on its ability to transform itself, producing new elements of economic accumulation and expansion despite inherent crises.
• 😀 Max Weber argued that the origins of capitalism can be traced to the Calvinist work ethic, where success in work was seen as a sign of divine favor and potential salvation.
• 😀 Werner Sombart linked the development of capitalist principles to early Christian thought, particularly the teachings of St. Thomas Aquinas on the legitimacy of profit.
• 😀 Capitalism emerged significantly during the Renaissance, with factors such as geographical explorations and the influx of precious metals from the Americas accelerating its growth.
• 😀 The rise of mercantilism during the 15th and 16th centuries allowed common people, not just the aristocracy, to accumulate wealth, leading to the emergence of the entrepreneur.
• 😀 New social actors, including merchants, bankers, and shipowners, began to replace the dominance of land-owning aristocracy during the economic shifts of the 16th to 18th centuries.
• 😀 Countries like England and the Netherlands, with institutions that promoted self-governance and individual freedoms, were critical in fostering the growth of capitalism.
• 😀 The Industrial Revolution, driven by technological innovations such as the steam engine, marked the beginning of industrial capitalism, shifting from land-based wealth to profit-driven production.
• 😀 Adam Smith's *The Wealth of Nations* (1776) introduced the idea that individual self-interest in a free market could lead to collective benefits, a concept known as the 'invisible hand'.
• 😀 Smith's theories were revolutionary because they placed value on individual entrepreneurship and production over traditional aristocratic privileges, helping to shape modern capitalist economies.

Q & A

What is the definition of capitalism according to Joseph Schumpeter?

Joseph Schumpeter defined capitalism as a system that generates increasing wealth and innovation through the competitive actions of multiple agents, regardless of how the results are distributed in society. The essence of capitalism lies in its ability to create elements that multiply development and innovation.

How does Schumpeter explain the cyclical crises in capitalism?

Schumpeter acknowledged that capitalism is marked by periodic crises, which stem from its intrinsic contradictions. Despite these crises, capitalism has demonstrated the ability to overcome them due to its capacity to transform and produce new elements of accumulation and economic expansion.

What is Max Weber's perspective on the origins of capitalism?

Max Weber attributed the origins of capitalism to the Calvinist work ethic, which viewed success through hard work as a sign of divine favor and a pathway to eternal salvation. This idea fostered a spirit of rational economic activity that supported the development of capitalism.

How does Werner Sombart link the origins of capitalism to medieval theology?

Werner Sombart argued that the roots of capitalism can be traced back to the teachings of St. Thomas Aquinas, who provided a theological justification for profit-making, thus laying the groundwork for the moral acceptance of capitalist practices.

What role did geographical explorations play in the rise of capitalism?

The geographical explorations of the 15th and 16th centuries, particularly the discovery of the Americas, played a crucial role in the rise of capitalism by bringing an influx of raw materials and precious metals. This led to the emergence of a mercantile system focused on large-scale trade, which enabled common people to accumulate wealth.

What social changes occurred during the rise of capitalism in the Renaissance?

During the Renaissance, there was a significant shift in the social structure. The traditional dominance of the aristocracy, which relied on land rents, gave way to the emergence of new social actors such as merchants, bankers, and entrepreneurs who played a central role in driving capitalist growth.

What factors helped accelerate the growth of capitalism in England and the Netherlands?

In England and the Netherlands, the growth of capitalism was supported by institutions that were independent of absolute monarchy, as well as the existence of civic liberties in cities. These regions fostered an environment conducive to the early stages of capitalist development, particularly through trade and financial innovation.

How did the Industrial Revolution impact the development of capitalism?

The Industrial Revolution, particularly the advent of steam engines and machinery, marked the transition to industrial capitalism. It shifted the focus from traditional craftsmanship to mass production, leading to the growth of industrial enterprises and the expansion of the capitalist economy.

What is Adam Smith's contribution to the understanding of capitalism?

Adam Smith, in his seminal work *The Wealth of Nations* (1776), argued that wealth comes from productive labor and that individuals, by pursuing their own self-interest, contribute to the collective well-being of society. He promoted the idea of free markets, where competition and the 'invisible hand' would lead to the most efficient economic outcomes.

How did Adam Smith's ideas challenge the traditional social hierarchy?

Adam Smith's ideas challenged the traditional social hierarchy by asserting that the value of wealth was no longer tied to land ownership or rent. Instead, it was based on productive labor and individual entrepreneurial efforts. This shifted the social hierarchy, elevating those who produced wealth through innovation and trade rather than through inherited land or privilege.