Economic systems and capitalism

Malthusian population model

posits that population growth, which is exponential, will eventually outstrip the growth of food production, leading to resource scarcity and societal checks like famine and disease

Serfdom

a system of unfree labor where peasants, or serfs, are bound to the land they work and obligated to a lord or landowner, lacking the freedom to leave or change their status, and often owing services or a portion of their produce

Yeomanry

Class of market driven farmers who leased land, produced for profit, hired wage laborers

Wage labor

a system where individuals sell their labor power to employers in exchange for wages

Market dependence

a situation where an individual, group, or organization is compelled to engage in markets for the sale of their products or resources, rather than having the freedom to choose alternative forms of production or exchange

The concept of market dependence is used to understand how market dynamics can shape social structures, power relations, and economic outcomes

private property

refers to the ownership of resources (tangible or intangible) by individuals or private groups, rather than the state or community, and the social relationships and power dynamics that arise from this ownership

Market competition

perspective, is a social process where actors (individuals, groups, or organizations) vie for scarce resources or opportunities within a market contex

Capitalism

an economic system characterized by private ownership of the means of production, where individuals and businesses invest capital to generate profit through market competition and free exchange

Indentured servitude

a form of labor in which a person is contracted to work without salary for a specific number of years

Slavery

a system under which people are treated as property to be bought and sold, and are forced to work

Mercantilism

a system in which a country attempts to amass wealth through trade with other countries, exporting more than it imports and increasing stores of gold and precious metals.

Free soil

Openly denounced institution of slavery

Automation

denotes the level of technical development when most work is done by machines that are only remotely directed by humans.