I just need a suitable, professional answer to the questions below.

Posted: December 5th, 2022

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Below, is a couple questions to a discussion post. The discussion posted is also below. I just need a suitable, professional answer to the questions below. about 250 words at the most would be fine. It can be less as long as it is properly explained.
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This is an interesting post but I think you are making a distinction without a difference. The Industrial Revolution served to reorganize capital in a very particular way. How did these two come together to form this new economic system?
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I am a little confused by your citation of Eltis in the first question. Can you be more specific about the sections of Eltis on the Trans-Atlantic Data you are referencing?
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How and why did the organization of capital continue to change between the 15th and the 21st centuries?
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The industrial revolution and rise of capitalism are the two most important changes to how capital is organized from that time until today. These two revolutions occur within the same period, but were largely different and required different sets of conditions to come into being. The industrial revolution involved mass production of goods using energy sources such as coal or oil while the rise of capitalism was fueled by labor saving devices like cutthroat machines, mass production methods (assembly lines), availability of raw materials, specialization in labor (division-of-labor) and cheaper transportation that allowed for a global market among other factors (Eltis.) In both of these cases, capital was mainly organized into a business form that could scale and make profits by producing goods. In the case of the industrial revolution, it was vertically integrated into so many parts of the economy that it came to dominate the economy itself. This is what Marx called “the concentration of capital”, where each part of the production process was owned and operated by different people with each one taking a cut from what they produced. These were no longer simply capitalists, but instead were now known as capitalist-industrialists or simply capitalists to differentiate them (Eltis.) As industrialization continued, there would be fewer and fewer capitalists and more hired workers running choke-full machines making mass-produced goods just to stay in business (Hodas, 1974). A large part of why industrialization took place in the first place was because of the wealth being created by capitalists, there was now enough capital for a group of people to invest into making machines that would produce more goods at a cheaper cost. As these machines spread across the world, less and less people were needed to produce more goods (Burchill).
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What were the key causes of the industrial revolution? What makes them so important?
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There were also many factors that led to the rise of capitalism, including concentration of capital by capitalists, technological advances by capitalists (which allowed for mass production), the end of feudalism allowing for more land for individual ownership, reliance on machines in labor-saving devices (see section on humans in labor saving devices) etc. (Gilboy, 2017). However, among them all, one thing stands out as being more important; capital accumulation by capitalists. This is what Marx called “the self-expansion of capital”, where it replicates itself through the accrual of commodities over time. As bourgeoisie capital grew, it would increase its income (its profit) and therefore be able to expand and buy more machines, raw materials and other commodities to make more goods. As it expanded, it would likewise increase its profits, making further expansion possible (Gilboy, 2017). This is how capitalism operates today with all money being invested into stock markets for the sole purpose of making profits for the capitalists who own these stocks. Capitalism also expands by increasing demand for commodities through new methods of production (mass production method, assembly lines, cutthroat machines etc.) or by increasing the demand in general through social factors (consumerism). The whole reason why capitalism has been able to grow for so long is because of its ability to constantly find new ways to get products to mass markets and increasing the demand for these goods (Gilboy, 2017). This shows us that capitalist cannot create wealth, but can only redistribute it from one group of people (the proletariat) to another (the bourgeoisie).
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References
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Eltis , D. (n.d.). Trans-Atlantic – about the database. Slave Voyages. Retrieved November 30, 2022, from https://www.slavevoyages.org/voyage/essays#interpretation/a-brief-overview-of-the-trans-atlantic-slave-trade/introduction/0/en/
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Hodas, D. (1974, January). MOSES TAYLOR–New York Merchant American Industrialist and Finance Capitalist: A Case Study in Success. In Proceedings of the Business History Conference (pp. 95-131).
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Gilboy, E. W. (2017). Demand as a Factor in the Industrial Revolution. In The causes of the industrial revolution in England (pp. 121-138). Routledge
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Burchill, S. (n.d.). The open door web site : History : The industrial revolution : Introduction and complete chronology. Retrieved November 30, 2022, from http://www.saburchill.com/history/chapters/IR/001.html
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