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Notes on video lecture:
The Relationship Between Capitalism, the Slave Trade, and Free Market Forces
Choose from these words to fill the blanks below:
enterprise, monopolies, transparent, communism, slavery, market, compel, ethical, interfere, trust, Europe, governments, unrestrained, governments, Bengal, future, better, participated, minimum, unfairness, intervention, protection, profits, equitable, British, patient
a common argument for capitalism is that governments should                    as little as possible with the workings of the markets
reduce taxation to the                so as not to take money out of the market
the logic is that markets know far better than                        where to invest the money
this is called a belief in the free market
but it is extremely rare in history that the market was free of politics and                         
the reason is that the most important economic resource is trust in the             
markets by themselves offer no                      against fraud, theft and violence
it is the job of the government to ensure an environment of continual            by by punishing people who violate agreed upon laws
this is why investors are more likely to invest in countries with                        governments: it's a matter of trust
when governments fail to do this properly, it leads to loss of trust in the             , dwindling credit and economic depression
if markets are not regulated, powerful players will exploit the less powerful
this is why we have laws against                     
a common argument is that a factory owner's own greed will              him to treat his workers well, since they can go elsewhere
this doesn't always work because monopolies can form
workers are then no longer able to protect themselves by changing jobs
at the end of the Middle Ages,                was almost unknown in Christian Europe
the Atlantic slave trade began with the early modern age and the onset of colonization
it was not so much tyrannical kings or racial ideologies, but                          market forces which led to the Atlantic slave trade
the Atlantic Slave trade in Africa
from 16th to 19th century, about 10 million African slaves were imported to America
many died in the wars in Africa to counter the slave trade
the slave trade was controlled very little by states or                       
it was mainly economic                      which organized and managed the slave trade
privately owned slave trading companies sold shares on the stock exchanges of             
people invested money in the slave companies because it provided good returns on their investments
in the 18th century, the                from investing in slave trade companies was about 6% each year, a very high rate
a completely free market cannot ensure that profits are gained in a fair way
the craving to increase profits has a tendency to blind people of                issues
whereas religions such as Christianity and ideologies such as Nazism were used justify horrible treatment of human beings out of ignorance and hatred, capitalism has led to horrible treatment of human beings out of ignorance and indifference
the Atlantic slave trade not only resulted from hatred or racism of Africans, but the fact that many otherwise innocent investors were making 6% annual profits on companies that                          in the slave trade
many of the plantation owners didn't hate Africans per se, and often lived far away from the plantation, what was important for them was how much money they made at the end of the year
this was similar to the Great              famine of 1770
the                East Indian company cared more about their profits than about the famine that caused 10 million people to die
the human species and the economy as a whole may well keep growing but many individuals still live in extremely poor and unfair conditions
arguments for capitalism
1.                    and other economic experiments were so much worse in so many ways than capitalism that nobody has many better ideas to try again anything different than capitalism
there may be many pockets of poverty and                      which the global free market capitalistic economy leaves unattended but when we look at history, there are few viable alternatives to capitalism and the fact is that we cannot live without it
2. we just need to be more               
mistakes have been made in the past, such as the Atlantic slave trade
but as we have seen throughout the centuries, more and more people are receiving a larger and larger percentage of the profits provided by the capitalistic economy
the distribution of the profits will never be                   , but there will be enough to satisfy a greater percentage of the population than could be realized from any other economic system
positive signs that capitalism is making the world a              place for all people on the planet
increasing life expectancy
decreasing child mortality
increasing calories per person
the mantra of capitalism: "allow the economic pie to keep growing, keep your trust in growth, and everything will be ok"
an important question facing humanity in the 21st and 22nd centuries is: can the global economic continue to grow indefinitely?
one reason this may not be the case is if the earth's raw materials such as oil and coal are depleted
The Context of History and Our Extended Human Family
How Walking Upright Led to Better Social and Cooperative Skills
The Importance of Fire and Cooking
Why Did Other Human Species Become Extinct?
The Cognitive Revolution and the Beginning of Human History
The Language of Homo Sapiens
How Fictive Language Enabled Larger Social Groups
The Power of Imagined Realities
How the Ability to Tell Stories Enabled Humans to Cooperate in Massive Groups
The Cognitive Revolution and the Variety of Human Communities
Spiritual Beliefs of Early Humans
Politics and Warfare of Pre-Agricultural Societies
45,000 Years Ago: Human's Decimation of Australia's Large Mammals
14,000 BC: Human Migration to the Americas
Agriculture: The Good and the Bad
10,000 BC: Agricultural Revolution
The Origins of Agriculture
The Code of Hammurabi and Other Imagined Realities
Inter-Subjective Reality and Romantic Consumerism
The Human Brain's Outsourcing of Mathematics
Unjust and Imagined Hierarchies
Imagined Hierarchies in History
Culturally Defined Gender
Three Theories of Gender Domination
The Direction of Humankind: Global Unity
The Essence of Money
The History of Money
The Historical Definition of Empire
The Relationship between Science, European Imperialism and Capitalism
Science, Capitalism and European Imperialism
Columbus: Last Man of the Middle Ages, Vespucci: First Man of the Modern Age
European Empires, Science, and Capitalism
How Capitalism is Based on Trust in the Future
On the Interdependence of Science and Capitalism
How Capitalism Enabled Small European Countries to Explore and Conquer the World
The Relationship Between Capitalism, the Slave Trade, and Free Market Forces
Industrialization, Energy and Raw Materials
The Second Agricultural Revolution and its Effect on Animal Treatment
The Ethics of Capitalism and Consumerism
On Limitless Energy Resources and the Hegemony of Modern Time Schedules
State/Market vs. Family/Community
Humankind's Rigid and Violent Past, and Flexible and Peaceful Present
Reasons for Our Current Unprecedented Era of International Peace
Three Theories on the History of Happiness
Psychological and Biological Happiness
Measuring Human Happiness
The Future of Cyborgs and Robots
What Do We Want to Want?