79-383 The History of Capitalism

9 units, Carnegie Mellon University

What is capitalism? How does it differ from systems that preceded it, and how did it come to revolutionize the globe? This course will cover the global development of capitalism from the 16th century to the present. We will examine the theories of Karl Marx and Adam Smith, who both attempted to theorize the new system of labor organization. We will look at how the transition from feudalism to capitalism took place, including the role of new world slavery, commodity production, dispossession of the peasantry, and changes in the household and gender relations. We will examine "globalization," the latest dynamic phase of capitalism and its impact on people. Finally, we will discuss the advent of robotization, the loss of industrial jobs, and the potential impact of casual labor, low wages, and unemployment on democracy and the rise of a technocratic elite.

Prerequisites: none listed

Offered: Summer 2026

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