Part of Concepts of Ahl as-Sunnah (series completed)
· Lesson 1128 of 1251
Summary of Sunni concepts | Concept (1126) | The emergence of capitalism
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Transcript
Machine translation — may contain errors
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A summary of the concepts held by the Ahl al-Sunnah.
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The emergence of capitalism.
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The economic school of thought that existed just prior to capitalism.
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It is known as the Physiocratic school.
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Wherein the greatest economic value is attributed to the land.
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And the natural wealth it produces, both plant and animal, which is essential for humanity.
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Then Adam Smith, the primary founder of capitalism, advocated.
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For stripping this value from the land and transferring it to labor.
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One of the motivations for this in the late eighteenth century AD.
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Was the Great Industrial Revolution.
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Which caused the transition from the agricultural age to the industrial age.
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This was accompanied by the desire of factory and business owners.
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To impose their financial influence upon society.
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And to monopolize the workers, the majority of whom had been employed in agriculture.