Table of Contents
The Greed Virus Takes Root. The too-big-to-fail commercial company model proves unsustainable. The Industrial Revolution peaks, leading to new material experiences to gratify the senses. The word ‘scientist’ replaces ’natural philosopher’. Big non-corporate companies are established to build steel plants and railroads.
| Year | Event |
|---|---|
| 1800 | Dutch East India Company dissolved |
| 1803 | JB Say publishes A Treatise on Political Economy, advocating utility, the cause of producers, andtotally removing ethicsfrom the Political Economy |
| 1850 | South Sea Company dissolved |
| 1874 | English East India Company dissolved |
| 1848 | John Stuart Mill publishes Principles of Political Economy |
| 1861 | John Stuart Mill publishes Utilitarianism permanently corrupting the Political Economy with utility, something that Smith argued against in The Theory of Moral Sentiments |
| 1867 | Karl Marx publishes Capital: Critique of Political Economy, bashing the Capitalist system espoused by Mill that came from England and France |
| 1870 | John D. Rockefeller establishes Standard Oil which spurs the Second Industrial Revolution |
| 1871 | William Stanley Jevons publishes The Theory of Political Economy, adding Calculus to the Political Economy, also based on Utility. Carl Menger publishes Principles of Economics, starting the Austrian school |
| 1872 | Andrew Carnegie enters the steel business |
| 1874 | Leon Walras publishes Elements of Pure Economics with the General Equilibrium Theory |
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