Invention of Capitalism (eBook, PDF)

Classical Political Economy and the Secret History of Primitive Accumulation

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The originators of classical political economy-Adam Smith, David Ricardo, James Steuart, and others-created a discourse that explained the logic, the origin, and, in many respects, the essential rightness of capitalism. But, in the great texts of that discourse, these writers downplayed a crucial requirement for capitalism's creation: For it to succeed, peasants would have to abandon their self-sufficient lifestyle and go to work for wages in a factory. Why would they willingly do this?Clearly, they did not go willingly. As Michael Perelman shows, they were forced into the factories with the a...

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