Breve historia de la Economía

Introduction to Political Economy

Overview of Economic Activity

• Cintia Tolosa introduces herself as a professor of political economy, emphasizing that economics is a social science and has always been an activity performed by humans.

• The necessity of managing resources has existed since prehistoric times, highlighting the evolution of economic study alongside societal changes.

Evolution of Economic Systems

• Changes in production relationships have led to the emergence of new economic systems, which are crucial for understanding current economic conditions.

• The evolution of economics is driven by social relations and technological innovations, starting with simple tools that enhance life and create new work forms.

Historical Economic Structures

Primitive Community Structure

• The primitive community represents the first organized form where property was collective, focusing on hunting, fishing, and gathering.

• In this society, there were no social classes or private property; cooperation was key to resource distribution.

Transition to Slavery

• A shift occurred with the introduction of slavery due to infrastructure needs; this established a dominant-subordinate relationship between masters and slaves.

• Ancient cultures like Egypt and Babylon thrived under slavery, where slave owners controlled production means while slaves had no rights or ownership.

Feudalism and Its Impacts

Feudal System Dynamics

• Feudalism introduced land ownership by lords in exchange for military service; serfs worked the land for protection from invasions.

• The economy during feudalism was agrarian-focused, with cities relying heavily on rural productivity.

Emergence of Trade Networks

• The discovery of America shifted trade dynamics significantly; ports became vital for commerce across nations.

Mercantilism to Capitalism

Mercantilist Beliefs

• Mercantilism emphasized exporting more than importing and viewed national wealth as tied to gold accumulation; state intervention was deemed necessary for economic success.

Shift Towards Free Market Ideals

• As mercantilist ideas waned, capitalism emerged with free market principles leading into the Industrial Revolution.

Industrial Revolution's Impact on Labor

Transformation in Production Processes

• The Industrial Revolution transitioned production from homes to factories, mechanizing labor processes and increasing worker demand.

Social Consequences

Impact of Economic Crises on Capitalism

The Emergence of Oligopolistic and Monopolistic Markets

• The reduction in competition led to the rise of oligopolistic and monopolistic markets, altering the landscape of capitalism.

• Successive economic crises, particularly the 1929 Wall Street crash, significantly impacted capitalist development.

• The two World Wars (1914 and 1939) further compromised the growth and stability of capitalist systems.