Nervos Lecturae, Caffeinam Infinitam
Lowering the Medicare Age to Zero: Duncan Black Snarks

Econ 210a: Spring 2012: Memo Question for January 25: Commercial Revolution

Subject: Memo Question for January 25

"The treasure captured outside Europe by undisguised looting, enslavement and murder, floated back to the mother-country and were there turned into capital." -- Marx, Capital, Vol. 1 Ch. 32.

Do the assigned readings provide any basis for assessing the general truth of this passage from Marx? In what sense did colonial trade in the 1497-1800 period contribute to capital formation in Europe?