The Putting Out System is essentially where merchants gave farmers raw materials (contrary Julia, it was not seeds :)) and asked them to produce a product, while also making a certain quota.
Why is this system so great?
Mainly because it was new. The putting out system and its participants were part of a pre-industrial age, where the brink of factories, companies, and monopolies was looming ahead.
- this system, and the people who "ran" it, were known as proto industrialists.
Putting Out system vs. Mercantilism? Similar or Different?
- mercantilism, by definition, is the: belief in the benefits of profitable trading.
Yet the putting out system was more locally based. The main goal was to profit the private owners, rather than the nation
- it did not just sell things, but it locally produced and made goods.
- the industrialists are benefitting because they are getting cheap labor and are selling their product at a high rate.
- Yet, the rural workers are also benefitting, for they still have a job and are getting consecutive wages, no matter what the weather is.
Bosses: So this system, which can also be called the cottage industry, worked well for everyone. when the bosses were away, profiting and selling their goods, the workers "played"
- when the cat is away, the mice will play.
- from the book, we know that the cottage industry workers would make their quota, drink all of their money, and then rush to make the next quota. The bosses were not concerned with them personally, as long as the quota was met.
- these peasant workers were not interested in becoming the next merchant, only really wanted some short term money.
Our favourite thing from APUSH is making its comeback... Triangular Trade!!!
- the American colonies were solely meant to produce raw goods and send them back to Europe.
- Britain even enforced the Americas to stop in all sea ports and trade there, before trading with other countries.
- back in America, this founded the anger and hostility in the colonists
- but in Britain, it was creating an increased demand for the cottage industry:)
Class Recap:
I think because Maeve was absent everything was pretty quiet today...
Only thing we did was putting out system and talked about how crazy a certain teacher is.
we miss you Marve
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