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By Andrew M Cherny Bus/210 UOPX

In The Beginning about 3000 BC


When people lived in a clan, or tribes Pooled their resources and overages Bartered with other clans, or tribes for wants and needs
Hunters Food Gathers

Chief

Crafts People

Priests Shaman Sages

Feudalism
The business or economic system in which one class of people control the property rights to all valuable resources, including people. Chiefs Kings and Queens Pharaohs tsars

Aristocrats were required to be loyal to Monarchs who delegated all resources

Kings And Queens

Aristocrats

Aristocrats

Commoners

Commoners

Commoners

Commoners

Bargaining and negotiations begin


Tenant Farming begins Increased motivation Farmers make small profits

Feudalism begins to fail


Conflicts over profits Wars were a common occurrence Land and resources being seized as a result

Mercantilism
Global trading of merchandise Borrowed capital funded trading Buy cheap, sell for large profit elsewhere Banking the new respected business

Capitalism
Capitalists or industrialists privately own the physical capital of industrial production Private production, sales, trade and distribution

Property Rights
King John signs the Magna Carta Rights given to private property owners History has been changed forever The balance of power has shifted

Commerce

With Commerce big changes arise

Capital

Labor

Money

Land

Enterprise

The Industrial Revolution

The steam engine is invented Innovation and mass production Costs for transportation has dropped as a result

Farming gets a facelift


Steam engines increase productivity of farms Less workers needed on farms farmers net bigger profits Common land taken back as obligations were fulfilled Immigration on the rise brought on by the industrial revolution

Capitalism, unionization, and the modern class system


Aristocrats lose their power People now personally own businesses Unions are organized to negotiate better pay and working conditions Business is booming Upper class
Upper middle class Lower middleclass

Working class and proletariat

References
Jones, G. R. (2007) Introduction to business, chapter two Windows seven clip art (2010)