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600 BCE
600 BC: Currency
In 600 BC, the first known currency was created by King Alyattes in Lydia, which is now part of Turkey. This is the beginning of trade which included currency. -
1304
1304: Jesus and the Money Lenders
Who would have thought Capitalism had religious roots? Well, in fact, the painting on the wall of a church in Venice that depicted this christian scene actually condemned the pursuit of money, and enforced the idea that a spiritual life was without thought of business and money. -
1450
114 BCE – 1450s: The Silk Road
The silk road was one of the earliest instances of wide spread trade, which got its name from the good that was most frequently traded there. -
1450
1450 - Summa de Aritmetica
one of the most important innovations from early economic studies, was the book by Luca Pacioli about accounting in 1450. This book not only innovated bookkeeping, but also introduced money as a science, rather than divine or fated reward or punishment. -
1555
1555: John Calvin
In 1555 John Calvin began to give sermons that praised what are now lauded as protestant traits, such as hard work and self-denial, duty, honesty and discipline. This point of view condemned indulgence and pleasure. This really influences the attitudes of Capitalism, although they would go on to become quite contradictory. -
1602: The Dutch East India Company
Its [the Dutch East India Company's] fame as the first public company, which heralded the transition from feudalism to modern capitalism, and its remarkable financial success for nearly two centuries ensure its importance in the history of capitalism. ”
— Warwick Funnell & Jeffrey Robertson, in "Accounting by the First Public Company" (2014) -
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1670: The Noble Merchant
depictions of nobility change, shifting their focus from aristocrats to hard working business men. -
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1760-1820: The Industrial Revolution
The industrial revolution brought about innovations in means of production and manufacturing, which allowed for mass production of goods. -
1776: Adam Smith
in 1776 Adam Smith contributed to the history of capitalism by explaining capitalist growth, that aided the understanding of the ever-popular economic system. He advocates for workers rights, the division of labor, and for specialization in industries. -
1854: Dickens' Hard Times
School of Life’s History of Idea’s video, they mention Charles Dickens book Hard Times, that highlights the heartlessness of Capitalism. I think that this is interesting because not only is heartlessness an undisputed trait of capitalism, it’s one capitalists seem to embrace, and therefor it’s a pervasive and accurate reputation. -
1860: Ruskin
In 1860 Ruskin then argued, that there is not simply issue with the means of production and the disposable treatment of workers, but also that capitalism began to flourish on a foundation of frivolous things, and by that account, contradicts it’s early protestant values. -
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1963-1976: NOS
Walter Ulbricht attempts to solve the failings of capitalism by creating good working conditions for workers, and make public philosophy instead of mass media. This fails in 1976, as the people of Germany riot about coffee. -
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1980-1989
Although the American Economy was suffering during the first three years of the decade, the later years rebounded easily, and business was booming. This good luck lasted into the 90's. This was a time of corporations and pinstripe suits which became the 'look' of the capitalist. (in some ways this was reflected in business-centric media, such as American Psycho.) -
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1987-1997
Club Kids were an extravagant group that comprised the New York club scene and parodied the capitalist obsession with money. Michael Musto says in the documentary titled ‘Party Monster’, “the aesthetic was one that was both embracing American consumerism and mocking it at the same time.” -
1999: World Trade Organization Protest
In 1999 the world trade attempts to further liberalize markets to give more agency to industries. However, a large riot prevents this by calling to the public's attention the inequities that capitalism presents society with. -
2011: Occupy
The Occupy Movement sought to bring attention to the appalling division that capitalism incited between the wealthy 1% and the rest of the population.