Yet as far as Europe’s capitalists were concerned, enclosure was working like magic. It enabled them to appropriate huge amounts of land and resources that had previously been off limits. Economists have always recognised that some kind of initial accumulation was necessary for the rise of capitalism. Adam Smith called this ‘previous accumulation’, and claimed that it came about because a few people worked really hard and saved their earnings – an idyllic tale that still gets repeated in economics textbooks. But historians see it as naïve. This was no innocent process of saving. It was a
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