ELI5: Explain Like I'm 5

Periodizations of capitalism

Alright kiddo, let's talk about periodizations of capitalism. So, capitalism is an economic system where people make and sell things to make money. But capitalism didn't always exist in the same way. Over time, different people have tried to explain how capitalism has changed and evolved.

One way to do this is through periodizations. Periodizations divide history into different periods, each with its own unique characteristics. This helps people understand how things have changed over time and why.

Now let's talk about some of the most common periodizations of capitalism.

First, there's the traditional periodization. This one says that capitalism started in the 16th century when people began to travel and trade more. The capitalist system grew stronger in the 19th century with the Industrial Revolution, when machines and new technologies made it easier to produce things.

Then, there's the Marxist periodization. This one says that capitalism is divided into different stages according to how much power the capitalists (the people who own the means of production) have over the workers. According to Marx, there were two main stages: the pre-capitalist stage, where workers didn't produce goods for profit, and the capitalist stage, where they did. Marx predicted that there would eventually be a third stage, where workers would take back control of the means of production and create a socialist society.

Lastly, there are also periodizations that focus on recent times. Some people talk about post-Fordism, which is a way of describing how the economy has changed since the 1970s. Another recent periodization is neoliberalism, which is a political and economic philosophy that emphasizes the importance of the free market.

Overall, periodizations of capitalism help us understand how the economy has changed over time. It's like putting puzzle pieces together to make a bigger picture. Pretty cool, right?
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