Mumford: The Influence of Capitalism (Technics and Civilization, 1934)

monopolyThe “romanticism of numbers” directly led to the rise of capitalism, already well-structured by the 1300s, and modern (double-entry bookkeeping, bills of exchange, letters of credit, speculation in ‘futures’) by the 1500s. The result: abstraction and calculation became part of the everyday lives of city people. Business became more abstract, concerned with non-commodities, imaginary futures, and hypothetical gains. Marx: “money does not disclose what has been transformed into it”–everything can be bought and sold. Money is the only thing one can acquire without limit. Money both grew out of a need through trade, as well as promoted increased trade. The continual and fast-paced development of machines can be attributed to the lure of commercial profit.

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