According to Mignolo (2011) explain what are the two alradical economic and epistemological shifts that enabled the rise of capitalism
According to Mignolo (2011), the two radical economic and epistemological shifts that enabled the rise of capitalism were the consolidation of the European nation-states and the colonization of the Americas.
The consolidation of European nation-states allowed for the creation of centralized political institutions that were able to enforce laws, regulate trade, and protect property rights. This political stability provided a conducive environment for the growth of commerce and the accumulation of capital.
The colonization of the Americas provided European powers with access to vast amounts of natural resources, cheap labor, and new markets. This allowed for the expansion of European economies and the development of a global trading network that formed the basis of capitalist economic relations.
These two shifts – the consolidation of nation-states and the colonization of the Americas – were instrumental in the rise of capitalism as they created the conditions necessary for the emergence of a market-based economic system driven by profit-seeking and capital accumulation.