Capitalism Its Origins and Evolution as a System of Governance
Two systems of governance, capitalism and democracy, prevail in the world today. Operating in partly overlapping domains, these systems influence and transform each other, but the nature of this interaction is often misunderstood -- largely because capita
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Bruce R. Scott
Capitalism Its Origins and Evolution as a System of Governance
123
Bruce R. Scott Paul W. Cherington Professor Emeritus Harvard Business School Boston, MA 02163 USA [email protected]
ISBN 978-1-4614-1878-8 e-ISBN 978-1-4614-1879-5 DOI 10.1007/978-1-4614-1879-5 Springer New York Dordrecht Heidelberg London Library of Congress Control Number: 2011938302 © Bruce R. Scott 2011 All rights reserved. This work may not be translated or copied in whole or in part without the written permission of the publisher (Springer Science+Business Media, LLC, 233 Spring Street, New York, NY 10013, USA), except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed is forbidden. The use in this publication of trade names, trademarks, service marks, and similar terms, even if they are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights. Cover design: WMXDesign, Heidelberg, based on concept of regulating market activity by Chris Pullman Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Contents
List of Figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
vii
List of Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ix
Preface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
xi
Acknowledgements . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
xxix
Part I Prologue
The Theory of Capitalism . . . . . . . . . . . . . . . . . . . .
1
Chestertown, Maryland, as an “English” Village
1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
2 The Concept of Capitalism . . . . . . . . . . . . . . . . . . . . . . .
27
3 Capitalism and Democracy . . . . . . . . . . . . . . . . . . . . . . Co-authored by Sarah Potvin
67
4 Alternative Models of Capitalism . . . . . . . . . . . . . . . . . . .
111
Part II Prologue
The Origins and Evolution of Capitalism, 1400–1830 . . . . .
139
The Mystery of Governance
5 Creating Capitalism in Europe, 1400–1820 . . . . . . . . . . . . . .
141
6 From Feudalism to Oligarchy in Latin America, 1500–1830 . . . .
185
7 Creating Capitalism and Democracy in the United States, 1630–1830 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Co-authored by Sarah Potvin
227
Part III Prologue
Political Obstacles to Capitalist Development . . . . . . . . .
277
The Arizona Market: A Case Study in “Nation”-Building
8 Italy as “One Country, Two Systems” . . . . . . . . . . . . . . . . . Co-authored by Jamie Matthews
287
v
vi
Contents
9 The United States as “One Country, Two Systems” . . . . . . . . . Co-authored by Jamie Matthews Part IV Prologue
The Economic Strategies of Capitalist Systems . . . . . . . .
309
333
Economic Strategies
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