Capitalism in Early America Essay - 1330 Words

Capitalism in Early America Many different people have defined capitalism over the years. It has been defined as a political entity, economic entity and as a social entity. Max Weber and Karl Marx argue different theories concerning the emergence of capitalism. While it is unsure whether the economic system emerged first or the cultural values and ideology that allowed for the formation of capitalism emerged first, one thing is for certain, capitalism is tied to cultural values and ideology. This essay will explore the social changes that capitalism caused in early America by discussing: violence; crowds, mobs, and committees; food riots and price controls; the American Revolution; and the Constitution. . The adverse effect on†¦show more content†¦Other examples of violence fueled by capitalism include the destruction of the home of Mr. Hutchinson in Boston during the Stamp Act Rebellion. Bostonians did not want to pay the stamp tax imposed by British law. The taxes were being used to fund the Engli sh military. Colonists had become engrossed in supporting their own lifestyles in America and did not want to pay for the king’s war. Therefore, anyone who happened to be pro-British, as Hutchinson was, became open to hostilities and attacks. Hutchinson was also a wealthy, powerful government official. This made him a prime target. The coordinated effort of the Stamp Act Rebellion in Boston also marked the formation of a new social entity: crowds and committees. Foner discusses the use of crowds as forms of protest to the condition in which people were living. Such conditions included heavy taxes and poverty. The formations of crowds were a direct results of capitalism. One of the best examples of the impact of crowds is the Hutchinson case. The wealthy men of Boston came together to form a committee called the Sons of Liberty. They were very much against the heavy taxes being levied in the colonies to pay for the king’s war. These men wanted to keep their wealth, not hand it over to the king and his men. To surrender this money meant surrendering power as well, since money had already become the real source of power. These men were well aware of the influences of wealth and power. The Sons of LibertyShow MoreRelatedThe Rise Of Capitalism And Capitalism1711 Words   |  7 PagesThe Rise of Capitalism as a worldwide phenomenon Capitalism is one of the most commonly practiced economic systems in the world, and thus it is widely considered a global phenomenon. It is based upon the single objective of accumulating more and more wealth. However, capitalism would not be so popular, or even exist, had it not been for several global pressures at that time. 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