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The Origin of Capitalism
The current society has been subjected to anti-globalization movements causing the need to understand the origin of capitalism and how it affected, has affected and is affecting all dimensions of human life. In the big question that guides us to understand the source and influence of capitalization are when and what caused time to be valued in terms of money. In the current society, the existence of money is dependent on time making the two become the same thing. Time is considered as a scarce resource and how one applies it in one’s life determines how much money or wealth one can accumulate. The origin of the concept of time and money dates to the birth of capitalism which involves those who had ownership of capital bought wage laborers for producing goods and services which they later sold in a market to earn profits. Having originated from England, capitalism has grown and spread over the past 400 years and transforming the general lifestyle of people around the world. Time, therefore, has played a significant role in making money and making money valuable in the society.
In our analysis on how time has created money and how it has contributed to making it have a value in the society, we analyze Ellen Wood, Agrarian Origins of Capitalism, and E.P. Thompson, Time, Work-Discipline and Industrial Capitalism. Wood in her book explains the origin of capitalism basing it in England. She further states its cause as the improvement on how people carried out agriculture and the introduction of enclosure within the England culture (Wood 15).

On the other hand, Thompson addresses the cause of capitalism as the introduction of labor in the market, and it was until people understood the concept of time-work-discipline that capitalism was born. In both cases, Wood and Thompson exhaustively discuss capitalism stating the path it took before completely conquering the world and the way of life of everyone.
Ellen Wood, in her book, Agrarian Origins of Capitalism, answers the question on the origin of capitalism. Wood bases his argument on the assumption that capitalism existed in the society since time immemorial and since the onset of commercial transactions. In this case, its manifestation and impact were fully felt after the removal of tradition fetters and barriers within the England culture. According to Wood (18), capitalism fully matured after the improvement on how people carried out agriculture and the introduction of labor as a commodity in the market. The “improvement” in this case, was more inclined to the use of technological practices within the farms in addition to growth and industrialization in London and towns across England. In this case, Wood logic drives away for the idea that capitalism natural existed in the society and goes ahead to list specific imperatives and compulsion based on the influence of competition, property accumulation, profit earning and increased productivity. Wood’s ideology criticizes the Marx’s concept that instead universalizes capitalism as part of human history. In his quest to unravel the origin of capitalism and refute the idea based in Marx, she questions the transition of feudalism to capitalism question is it is found in its intrinsic dynamic or merely changing to capitalism. Therefore, she bases her argument on the assumption that the growth of cities, increase in trade and commerce indicated the start of capitalism but does not mean that it was then that capitalism came into existence.
According to Wood (24), the sophisticated nature of the European culture and the form of trading that was taking place then was enough to blind people to identifying the existence of capitalism among them. However, she emphasizes her belief that capitalism originated from rural southeast England during the 16th century (Wood 25). In support of her point, she states that then people lived within a unified British culture which was different from the parcellated sovereignty that was present in the rest of the countries in Europe. In this case, Wood’s ideology considers the rural aristocracy, that is, the power within the England agrarian society, not as symptomatic but instead the reason behind the growth of England society. Therefore, the cause of development in rural England was because of farming carried out by the tenants and not the peasants and the rents collected was because of the tenant’s productivity and not because of the direct coercion. Wood claims that that the economic and the culture of the people was dependent on the nature of the market, both when it came to owning land and selling products. As a result, began the new laws of motion that contributed significantly to the full maturity of capitalism. The effects of the so-called “new laws” were pressure for improvement, that is, apply cost-effective procedures of production that will meet the increasing competitions, productivity and demand of the product in the market. The demand later contributed to the rise of imperial dispossession as those in power sort to increase land productivity to generate more profit in addition to increasing the amount of produce.
Time, Work-Discipline and Industrial Capitalism by Thompson analyze the introduction of “effective management of time” concepts as a contributing factor to the rise and maturity of industrial capitalism. Thompson argues that technological advancement and innovation brought about clock consciousness and time discipline phenomena among human beings with the methods of production undoing how people initially defined time. In this case, people were able to accurately measure time and the emergence of industrialization brought about people paying more attention to how they make use of time to attain the rising need for effective use of labor in the industries. Furthermore, Thompson (64) claims that before, during what he refers to as the Pre-industrial period, the measurement and apprehension techniques about time management was based on task-orientation where there existed no conflict between labor and time elapsing. The labor patterns were rather irregular and were characterized by elements such as Saint Monday, Segmented Sleep and heavy weekend drinking. The onset of the industrial revolution brought about a new definition of time patterns such as “time-discipline,” “timekeeper” and “time-consciousness” to instill discipline in people.
Thompson (75) introduces the economic power another concept that alters how people experienced time. In his argument, he states that people group in the lower economic status, that is, peasants and slaves experience time as define by their masters, that is, people regard to have high economic status. Those in the upper rank instilled time-disciplined to the low-status group so that the workers can increase their productivity in the industries. As a result, the so-called masters were able to make maximum profits out of the laborers. Also, Thompson states that the introduction of disciplined working hours and coercing workers to abide by them cause them to move away from slumber to being time-conscious.
In conclusion, knowledge of how to accurately measure time brought about the existence of money, and it became impossible to distinguish the two. It was after people were able to measure the time that it found its significance and at the same time money found its value. Capitalism existed within the society since the first business transaction was done and it was peoples culture and the traditional way of transacting business that blindfolded people from noticing its presence. The advancement of technology contributed to effective time management, hence the need to increase productivity and to meet the demand of the competitive market. As a result, capitalism surfaced and fully matured in England before spreading and dominating the rest of the world.

Works Cited
Thompson, Edward P. “Time, work-discipline, and industrial capitalism.” Past & Present 38 (1967): 56-97.
Wood, Ellen Meiksins. “The agrarian origins of capitalism.” Monthly Review 50.3 (1998): 14-31.