Development of Capitalism from Colonialism to Global Capitalism

Development of Capitalism from Colonialism to Global Capitalism

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Development of Capitalism from Colonialism to Global Capitalism

Business, Society & Policy 200158

Week 3

B-S-G CONTEXT: DEVELOPMENT OF CAPITALISM FROM COLONIALISM TO GLOBAL CAPITALISM

Content of this lecture:

• Basis of B-S-G relationships
• Historical ‘moments’ leading to the development of capitalism (according to Marx)
• Capitalism defined
• Relations between Business and Government in capitalist societies
• Global capitalism/Late capitalism/Flexible capitalism
• Impacts of global capitalism

This week we focus on the context of the relationships between the three sectors of the triangle. To make sense of what is happening today, we need to understand how history has influenced the social, political and economic structures of society. It is important to remember that we are dealing with processes here, and therefore we need to understand how change occurs. It is also relevant to consider the interdependence of social relations and economic structures, as the basis for the relationships between business and society and the role that governments have taken in regulating the activities of business. This is to understand that business has changed as the economic, political and ideological conditions have changed, with subsequent consequential changes in the relationships between business and governments.

To explore the context in which B-G-S relationships have evolved, we introduce an historical perspective on the development of capitalism. An overview of capitalism from a Marxian perspective is presented along with, an introduction to the form that capitalism has taken under globalisation (to be expanded on in week 8). This week, we also touch on some aspects of the relationships between government and business in a capitalist society and on some relevant aspects of capitalism for the B-S-G triangle

Basis of B-S-G relationshipsTo comprehend the dynamics between the different sectors of our triangle, we need to understand the basis for social relations. In that sense it is possible to say that our relationships and our different needs have been the basis for our subsistence. Each of our social requirements are fulfilled by some sectors in society. If we take the family as an example, the members of the family may agree on the activities each will assume responsibility for. The roles taken depend upon the different skills and personalities of the family members. Traditionally men have had the role of the breadwinner while the women took the role of nurturing the family (including preparing food and caring for any children). Now however attitudes have changed, and both men and women are often considered breadwinners, and both take on roles dealing with family wellbeing (or at least that might be the ideal). In just the same way, society needs to have people to cover different activities and roles in society. This has been called the division of labour. Social relations are now defined by reference to how subsistence is achieved, how material goods are produced and the division of labour. This provides the basis for changes in society.The methods we employ for producing material goods for our subsistence influences how we establish relations between those who own the means of production, those who cover the different roles in the division of labour, and the economic conditions in which all of this happens. These methods of production of material goods necessary for human existence are the primary force that determine social life. Different types of societies are characterised by different patterns of ownership of the means of production, different relationships that influence production, and different economic bases. How production is achieved has historically been in a constant state of transformation, with various transformations being classified by different authors as ‘moments’ or ‘stages’ of development. These different moments/stages influence the transitions from one kind of social order to another, and assist in distinguishing historically different social systems. As a whole, these transformations have been seen as progress, but such progress does not always bring improvements. History is not always a continuous ascending line, but a series of uneven movements consisting of changes that sometimes go forward and sometimes backward.Historical moments leading to development of capitalism (according to Marx)Marx did not provide a timeframe for what he calls ’moments’ in the history of human society. He views these moments not as continuous, but as overlapping. The first three stages of development (see below) can be considered the antecedents of capitalism, while the remaining four constitute forms of capitalism which have evolved out of the impact of technological, social and political conditions which transformed how the production of material goods was performed and how different groups in society were involved in that process.Stages of Development1) Tribal society (primitive communism)· Social relations of production: goods produced for self consumption· Means of production: commonly owned land· Economic base: appropriation of natural resources· Activities: hunting, fishing, animal husbandry; later settled agriculture Over time, new technologies developed (eg, the plough), production increased; surpluses were accumulated (and some managed to accumulate more than others). Hence, a new division of labour emerged: owners and non-owners of land and food products. ‘Market’ places emerged with commodities produced for exchange in the market. Population increased with union of several tribes into small towns by agreement or conquest.2) Slave-owning societyAs a result of conquest a slavery system emerged.· Means of production: Land and slaves

• Slaves labour was treated as a surplus
• Those with most slaves were more wealthy and powerful
• Slaves were treated as a commodity
• Beginning of a ‘class’ system and ‘class’ conflict (including ‘the haves’ and the ‘have nots’).
• Increasing land ownership

3) Feudal society

• Means of production owned by feudal lords
• Basic production processes: small-scale peasant farming carried out by serfs (‘instruments of production’)
• Serfs were entitled to use (without owning) land on condition they provide labour as a form of rent
• Serf labour was a surplus of the feudal lord
• Technologies made some labour redundant
• New forces of production developed in towns: industrial production by artisans
• Spinning wheels and handlooms owned by the worker
• The social structure was hierarchical, with feudal aristocracy

4) Mercantile Capitalist Society

This stage is what can be considered the first stage of capitalism, in that excess products were produced due to technological innovations making more efficient use of human labour. From this excess, the exchange of products became more extensive, and this was mediated by the monetary value attributed to products. As a consequence, products which were in the past used for self consumption (or for consumption of the owners of slave labour) became commodities to be sold and bought in the marketplace. Excess production generated new forms of organising labour (into guilds) and new methods of production (a person’s labour power was sold in exchange for a wage, and workers gathered together in one establishment comprising workshops or guilds). Larger, more complex tools and machinery (eg, spinning machines and human powered looms) were introduced. This meant that those who owned these means of production were the ones who controlled the process. Greater efficiency of manufacturing systems gave even more wealth and political power to the owners of the means of production.

Technological innovation and new forms of organising labour contributed to an increase in the production of commodities and in the power of those who owned the guilds. This established a force against the aristocracy who, under the feudal system, held power. At this time, the bourgeoisie was a revolutionary force against the establishment which was controlled by the aristocracy. The triumph of the bourgeoisie against the aristocracy produced the emergence of two sharply distinguished social groups: the owners of the means of production and those who owned only their labour. These groups were later identified as the bourgeoisie (or capitalists) and the proletariat. This division is seen as one of the inherent characteristics of capitalism.

5) CapitalismCapitalism emerged from a sequence of different historical stages of economic and political organisation and technological change which increased production and the accumulation of capital. The acquired power of the bourgeoisie gradually led to a more urbanised society (free labour and guilds led to the emergence of towns). We can see that the link between business and government has antecedents in early forms of capitalism.

Increases in production demanded the expansion of markets to place those products, and access to more natural resources to feed the production process. These demands created the needs that were fulfilled by the discovery of, and commerce with, other parts of the world. As a consequence, the expansion to new markets was achieved through exploration and colonisation of unknown parts of the world (eg, the ‘discovery’ of the Americas). Colonisation provided both natural resources and wealth (which was so important for the development of capitalism), and also provided the innovation which later led to the industrial revolution. More technological innovations transformed the guilds into factories, which were then owned by those with capital. This process represents a shift from commerce to industry. It was called the ‘Industrial Revolution’, a term coined by Arnold Toynbee (1852-83) to refer to England’s economic development between 1760-1840.

The Industrial Revolution involved the use of new basic materials – chiefly iron and steel – and the use of new energy sources, including fuels and mechanised power, such as coal, the steam engine, electricity and the internal-combustion engine. The invention of new machines, such as the spinning jenny and the power loom, increased production with a smaller expenditure of human energy, and this was used in a new organisation of work known as the factory system. This system led to an increased division of labour and specialisation of function. There were important developments in transportation and communication (eg, the steam locomotive, the steamship, the automobile, the airplane, telegraph and radio) and the increasing application of science to industry.

Society was thus divided in two classes; the capitalist class or bourgeoisie were the owners of capital used to produce more capital (to invest further), and the proletariat who owned only their labour, thus becoming the labouring class of workers who sold their labour in exchange for a wage. Meanwhile the bourgeoisie, through close links between Government and Business, controlled the State.

6) Imperialist capitalism

To understand the development of capitalism into what is called Imperial capitalism, it is important to emphasise the link between capitalism and colonialism. The existence of colonialism as part of world history is relevant for our understanding of the later stages of capitalism, since colonialism defined the conditions of the different nations. There are different views about the role of colonialism for the development of capitalism. Some see a direct connection: the development of capitalism would not have occurred without exploitation of the colonies (in the Americas, Africa and Asia). An alternative view sees capitalism as an indirect effect: colonisation produced resources that were important for the accumulation of capital and provided the possibility of industrialisation. What is important to recognise, though, is that while ‘It is possible that capitalism might have emerged in Europe without the aid of foreign treasure; the fact is that it did not emerge without it’ (Barratt 1976:84). So we can establish some support for the notion that the birth of capitalism was based on colonialist practices: the expansion of markets to the colonies, the exploitation of slave labour to produce cheap raw materials, the extraction of raw materials for markets and industrial development, the pillage of foreign treasures (eg, precious metals), trade under unfavourable conditions for the colonies, and investment of that wealth as capital for the industrialisation of Europe (for the development of new technologies).

As a result of these processes a particular stage in the development of capitalism emerged: this was imperialist capitalism, which can be defined as a system of organised colonial trade and organised colonial rule characterised by a political system in which the colonies were governed from an imperial centre. This process continued even when those colonies became independent of the colonial powers. For that reason imperialist capitalism has been called neo-imperialism or neo-colonialism. Imperialism can be considered to be an earlier form of global domination. The modern meaning of the term ‘imperialism’ is a primary economic control with indirect and manipulated political and military control (Williams Key Words 1976:159-160).

Before explaining the seventh stage of development – Global capitalism/ Late capitalism/ Flexible capitalism – we need to develop a more nuanced understanding of the basic characteristics of capitalism.

General definition of capitalism

Capitalism is not a single concept. The term is used to refer to different stages of a form of political and economic organisation. Here, we are considering capitalism as the economic and political form of organisation of society; a form that has been predominant in the way that the world has developed. However the term has been used for a long time to refer to situations which include different characteristics. Why? This is mainly because some features that are inherent to the capitalist system have not changed. The changes are more about the form in which those basic characteristics are put into practice. What is essential in the capitalist system is the generation of capital from surplus value, the production of commodities (‘the majority of products take the form of commodities… only happen with production of a very specific kind, capitalist society’ Marx 1961:141) and the existence of labour as a commodity (‘labourers, who must sell themselves piecemeal, are a commodity, like every article of commerce, and are consequently exposed to all the vicissitudes of competition, to all the fluctuations of the market’ Marx 1970:41). Also important to consider is the rise of social struggles between, on the one hand, those who can live only so long as they can find work, and who find work only so long as their labour can be applied to increase capital and, on the other hand, the owners of the means of production.

Under the economic laws of capitalism, these relationships formed the basis for the rise of social classes: the bourgeoisie (owners), and the proletariat (those who do not own capital). In contemporary society this class distinction is more complex. The difference between the cost of production and the price paid for products generates profit (surplus value), and this can become capital. Under conditions of increasing competition and falling profit margins – being characteristics of the later stages of capitalism – the returns to the labouring classes become progressively less. As a consequence, the proletariat, impelled by their increasing pauperisation, could be expected to revolt and attempt to destroy the system. The capitalist classes, on the other hand, in order to gain profit, must pay less wages than the full sale-price value of its products. At least that was what Marx predicted. The types of workers who do not own capital include those who predominantly sell their physical labour and those who mainly sell their intellectual labour (eg, blue collar/white collar employees).

According to Mitchell (A Dictionary of Sociology, Routledge and Kegan 1968:23), capitalism is a form of industrial society in which the greater proportion of economic life has the following characteristics:Concentration of the means production (capital) and the control of capital is in the hands of private owners (business)· Resources and wealth is acquired through the operation of the free market (in the business environment)· Labour is performed by free workers who sell their labour in the market (sectors of society)· The goal and stimulus of economic activity is the maximisation of profit.According to Karl Marx ‘The historical conditions of its existence (capitalism) are by no means given with the mere circulation of money and commodities. It arises only when the owner of the means of production and subsistence meets in the market with the free labourer selling his labour power’ (Marx 1961:142). Its essential features include the social relations of production: the ways in which the means of production are owned and controlled, the generation of surplus value and labour as a commodity. Based on those characteristics the social relationships of production form the basis for the rise of social classes.

The trade cycle shows how the capitalist system works and represents the logic of capitalism.

To be successful, capitalists need to make profits. In a highly competitive business world they need to cut costs in order to offer lower prices. Capitalists need to cut wages to capture the market. This works if the cut in wages is achieved by a few, but the system then demands others to do the same, so others need to cut wages also in order to be able to offer cheaper prices. This general reduction in the level of wages produces a corresponding decrease in the total purchasing power in the economy. In these circumstances, sales and profits drop, and this process is repeated over and over again. The trade cycle produces a succession of economic crises, a succession of booms and slump periods in the market, reductions of costs, reductions of jobs, pressures to produce more products in the same timeframe, increases in unemployment tensions and conflicts resulting from the combination of the concerns of workers over low wages and low power of consumption, and the conditions of violent competitiveness.

With the escalation produced by competition between different businesses, the capitalist view reinforces the idea that the solution is to reduce wages or the business will not be successful. However, is it really possible to reduce wages to nothing? Here, Governments play a role in curbing that inclination to reduce wages. But then the characteristics of globalisation can be employed to serve capitalism in some (developed) countries, by introducing into the trade cycle a reduction of costs through seeking out other (usually less developed) countries, where workers can be influenced to accept wages that are lower than those considered acceptable in the regulations of the developed Nation-States.

These characteristics are the basis for the kind of relationships between the business and society sectors of the B-S-P triangle. Now, we need to introduce into this historical perspective the third element in the triangle – government – and we will see how the link between governments and the link between society and business and governments have evolved.

Brief overview of Business and Government relations in capitalist societiesFrom the mercantile era, early ‘capitalists’ (1500-1750) enjoyed the benefits of strong national states. European states engaged in naval warfare to amass gold and silver, and to protect domestic business. Government policies provided the basic condition for capitalist success, including uniform monetary systems and legal codes for economic development.

In the 18th Century laissez faire ideas become predominant (including the free-market economics of Adam Smith, 1776) and, as a consequence, economic decisions were left to the free-play of self-regulating market forces. This implied little government interference in business. From the 18th to the 19th Century, government increasingly moved into the economic sphere to meet the needs and to serve the interests of industrial society (especially in England). In the 19th Century there was state-led industrialisation and the State therefore became the producer of goods and services. From this process, institutions and procedures of modern government reflect economic forces at work, and government’s main role was to facilitate operation of capitalism. Therefore, the legal system can be understood to be biased towards capitalism: ‘Laws grind the poor, and rich men control the law’ (Irish playwright Oliver Goldsmith [1728-1774]).

The following are some examples illustrating the bias towards capitalism in different historical moments.

In the 18th Century, crimes damaging to capitalism were punished with particular severity. Laws were passed forbidding workers to keep or sell left-overs; the death penalty was handed down for small-scale theft of property; forgery laws were severe. In the 1720s, statutes were passed restricting trade unions (viz, forbidding ‘combinations’ of trades to raise wages); laws were passed to ensure the right to own Negro slaves throughout 18th Century England. Governments played a central role in business activities during World War I. Governments controlled strategic industries such as shipping and railways, and gave support for other industries. During the period 1945-1973, there were changes in political perspectives. The Laissez-faire philosophy was replaced by ‘Keynesian’ philosophy (which called for higher levels of Government interference in the economy).

In Australia, we can mention some important moments in the development of these links between business and governments. During the period between 1945 and 1970, the Australian government played a strong facilitating role, expanding and modernising the economy. From the 1950s and 1960s, policies were designed to foster manufacturing, and this defined the government role as protectionist through the imposition of tariffs to protect ‘infant industries’. Also, active immigration programs were put in place to attract foreign workers. However, economic downturns in the 1970s defined a change in the role of government in the regulation of the economy. In 1973, the Organization for Economic Co-operation and Development (OECD) pointed to the declining competitiveness resulting from high level of protectionism and, consequently, policies were created to reduce tariffs and encourage ‘rationalisation’ of the economy (pursued by the Hawke and Keating Governments). Financial deregulation, decentralised wage-fixing, and privatisation of the public sector followed, together with increasing government regulation of labour. The Laissez-faire philosophy was revisited in the form of neo-liberalism (to be discussed in week 7).

In contemporary society, much of the government role is to encourage competition and arbitrate the interests of different business groups and, as such, one relevant role of government is to regulate for fair competition (eg, the Australian Competition and Consumer Commission (ACCC) is empowered to investigate monopolistic and collusive practices). The role of government also includes the protection of business from global competition (by signing Trade Agreements and by the endorsement of International regulations). However, there is also the demand for greater control of the power of Business against interests of Society. This includes increasing pressures from civil society (eg, consumers; environmentalists). As a consequence, we can state that modern Government has a dual role: its institutions and procedures partly reflect economic forces at work, and partly reflect efforts to control these forces in order to protect Society.

7) Global capitalism/Late capitalism/flexible capitalism

Global capitalism can be seen to be a multidimensional phenomenon, which is associated with the emergence of globalisation. But globalisation can be defined in multiple ways, depending on the aspects that are emphasized (see this week’s reading). In this case, we want to begin considering globalisation in terms of its historical link with the expansion of the capitalist system.

According to Marx, the expansion of markets is an inherent characteristic of the capitalist system. This is clear in what has been considered Marx’s prediction of globalisation:

‘The need of a constantly expanding market for its products chases the bourgeoisie over the whole surface of the globe …The bourgeoisie has through its exploitation of the world-market given a cosmopolitan character to production and consumption in every country… by industries that no longer work up indigenous raw material, but raw material drawn from the remotest zones; industries whose products are consumed, not only at home, but in every quarter of the globe. In place of the old wants, satisfied by the productions of the country, we find new wants, requiring for their satisfaction the products of distant lands and climes. In place of the old local and national seclusion and self sufficiency, we have intercourse in every direction, universal interdependence of nations’ (Karl Marx, Communist Manifesto 1848 [1970:39])

The patterns emerging from that past are important in understanding the contemporary situation. First, we need to acknowledge that in the global situation we cannot make generalisations about one homogeneous form of the mode of production. There are differences in how countries have developed out of the conditions of colonisation, and their characteristics are therefore different.

We can state that the forms of capitalism arising since the 16th Century are the basis for what is today referred to as the economic process of globalisation, together with its consequent social, political and cultural dimensions. In this perspective we cannot treat globalisation as a new phenomenon. From this view of historical globalisation, it is possible to include some effects of capitalist development on contemporary society, such as the impacts of colonialism, imperialism and Neo-colonialism (ie, the survival of colonial system in emerging countries in spite of political independence) on the contemporary form of capitalism. This contemporary form has been referred to in different ways: namely, Global capitalism /High or Late Modernity/ Flexible Capitalism. The context of this form of capitalism is the World System/Global Market and the participants include sectors from developed as well as less-developed or developing countries; in all cases from business, civil society and governments, and include both the owners of capital and the owners of their labour force only.

In this stage of capitalism, the distinction between developed and developing or less-developed countries is crucial for the operation of the global market. This distinction, which is now so taken for granted, is in effect related to the colonial history. Most developed countries have a history of imperial power, and less developed countries have histories of having been colonised. From the world structure that emerged from the economic and political interdependence between countries, and the polarisation of countries through neo-colonialism and imperialist capitalism, we can link Porter’s notion of competitive advantage of nations, as now extensively used in business. This notion thus takes countries into the global market and sees them as commodities for transnational corporations (TNCs) to ‘buy’, and governments from nations to sell. In that sense, we can see the relationship between business and governments as a kind of alliance to promote economic development; but in ways that mostly benefit the operation of business in a global capitalist system.

The competitive advantage of nations becomes an important mechanism for the dynamics of the capitalist system, in which businesses operate world wide. TNCs in developed countries expand into developing or less developed countries, while developing countries compete with each other to ‘attract’ TNCs investment. Governments exploit a country competitive advantage (eg, natural resources, low skilled labour, proximity to markets in developed countries), in order to receive foreign investment. As such, it is possible to say that it is TNCs who decide the course of economic development of countries.

Impacts of global capitalismNow it is important to evaluate the impacts of globalisation on our B-S-G triangle. Globalisation, in the form of global capitalism, has changed the conditions of interaction and the forms of negotiation between the three sectors of our triangle. For example, the specific conditions of one country when associated with levels of poverty, lack of social security, levels of education and high unemployment (some without governmental support) create conditions in which local governments activate the economy to try to attract foreign direct investment and, in this way, they might offer benefits to corporations that other countries would not. This represents how governments intervene in the regulation of the economy to promote the competitiveness of local business. We can also consider the differences between more or less democratic versus non-democratic or totalitarian governments. In this case, for example, the attractiveness of a country with an undemocratic government might offer the possibility of operating with looser environmental regulations (although such government might also involve the ‘risk’ of corruption). Different forms of labour regulation labour are particularly relevant, since companies can use outsourcing to other countries as a strategy of cost reduction (in attempts to minimise wages, holidays and other leave entitlements, for example).To ensure success in the global competition of markets, business needs to be managed by taking into account the advantages and disadvantages of diversity (viz, opportunities and threats). If we consider that local and global businesses are now competing in the global market, then the strategies that provide global business advantage give more possibilities to win in the competitive environment. The strategies used by global corporations to reduce costs (as part of the trade cycle) are then ‘copied’ and became part of normal business practices: ie, in the search for lower costs and cheaper labour.From a global strategy perspective, there are some issues that are relevant in our understanding of the kind of impacts on different stakeholders. One strategy is to move work out of the enterprise, and this can be done locally or by moving to other countries. For this strategy to work business must find ways of paying lower wages. With outsourcing (or off-shoring), the aim is to outsource non-core activities to other business for which the activity is core. The logic is, for example, if we are good at producing television designs, we can outsource the cleaning function in the company (which is not our strength), and thus engage another company that has strengths in that activity. However, we can see that in many cases companies use this argument to legitimise practices that are actually take advantage of vulnerable groups, whether locally or abroad. This contributes to a new international division of labour, in which intensive labour production is shifted from the country of origin of the TNC to another low-wage country. As we will see in following weeks, this strategy can be questioned because it raises issues about human rights and exploitation that we will expand on in Module 3.So if we consider the trade cycle in a competitive international arena, we find that the globalisation of markets, capital and labour generate a more diverse environment where businesses operate, and this implies advantages and conflicting practices. To fulfil the trade cycle objective of reducing costs, we can see changes that include a drive towards more informal employment practices, part time workers, short term contracts, lower wages, increasing workloads for the same wage, and less influence from trade unions. Also, labour can be used as a supplementary form of earning (eg, for women, children, new migrants from rural to urban areas, migrants from underdeveloped countries, whether legally or not) so that it is possible to offer lower wages for the same job.

The process of globalisation and the emergence of new forms of economic, political, social and cultural organisation do not necessarily mean that globalisation has equally reached all levels of society in the whole world. There are different conditions in different countries and in business organisations (which also involve some social factors) that can be seen to pressure the system, so that at critical points changes may provide unpredictable consequences.

If we consider the diversity of global business situations, the global dimensions of capitalism can be very complex, with different consequences for different countries. This can give rise to problematic interactions between businesses, and between business and the governments of different societies. In that sense, B-S-G relationships can emerge out of the influence of global capitalism, with new forms of conflict and opportunities. However, there is still a level of legitimating and increasing of power for the powerful (ie, for the national elites in governments and business), and increases in poverty for the powerless. It is then important to point to some critical points that emphasise the limits of Globalisation:

• Countries are divided between advanced countries and less-developed countries, with dependency and isolation of some. The significance of Nation-States is weakened and the increasing interdependence of economies can produce global crises.
• Business needs to operate under super-competitiveness, which includes differential protectionist policies and growing monopolistic concentrations of business.
• Social factors include instability of employment, reduction of social policy benefits, increased poverty, unemployment and crime and, consequently, political unrest

To conclude, we want to point to what we see as the paradox of globalisation:

Free trade is ideologically legitimised by a liberal ideology of freedom of choice and individual equality in a self regulated market. It supposes that through this, there can be economic growth which allows more productivity, so that added value can generate capital to be used to produce innovation. This therefore brings improvement to a country engaged in developing industries that are capital intensive and that involve more skilled labour and less labour-intensive processes. This process however generates unemployment and consequently impoverishment of less skilled workers. From the perspective of these workers, this implies that the principles of democracy, as embedded in the idea of liberalism and individual freedom, disappear for those workers.

Another route the paradox can take relates to Porter’s notion of the competitive advantage of nations. If economic growth and employment enhance the possibilities of that society (eg, in a less developed country) it will have a more skilled labour force that might demand better conditions of labour. If so, the TNCs which previously used such countries for their capacity to provide low-wage labour (for global strategic reasons) will simply move beyond those demanding labour forces to search the globe for other more ‘attractive’ countries as an updated source of low-wage labour. In this case the paradox reaches the same point of unemployment and marginality.

Complexity (science or theory) based critical reflection

This final section of the Lecture Notes briefly introduces pointers towards a complexity informed analysis.

BSG relations as depicted above, are shown to be self-organising, dynamic and emergent. The context shaping the development of BSG relations is similarly shown to be self-organising, dynamic and emergent. Each sector is seen to be both evolving (changing) according to internally evolving principles (for example the interests of business guide the business sector; the interests of society guide the society sector etc) and through dynamic interaction with the other sectors. Overall this process results in the development of capitalism over time, and in its manifestation in the present situation.

This same understanding can be applied across all levels of our analysis. For example, we can look at this evolving process (of the context of BSG and of BSG relations) in as it occurs in one particular country (Australia, Finland, USA, Great Britain, Italy and so on), or as it occurs in relation to one particular industry (car production, energy production etc). We can use this understanding to focus from micro level (perhaps a particular business enterprise, or family history) through to macro (commenting on global trend over a large historical epoch).

In this way, a complexity perspective can help us to organise our understanding of the material covered in the unit.

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BSP Lecture Notes

Development of Capitalism from Colonialism to Global Capitalism

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. 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And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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