The Question of Market Dependence

Capitalism is a system of social‐property relations in which survival and social reproduction are dependent on the market; a system that is, therefore, driven by the imperatives of competition and a relentless drive to improve the forces of production. This article explores the nature of that market dependence and the specific historical conditions in which it emerged. In debate with Robert Brenner’s recent article in this journal (vol.1, no.2) about the early development of capitalism in the Low Countries, it is suggested that, while the Dutch Republic was a highly developed commercial society, it seems to have lacked the specific conditions that made market dependence a basic property relation, as it was in early modern English agrarian capitalism. The differences between Dutch and English patterns of economic development reflect some fundamental differences between commercial and capitalist societies.