Economists often speculate that the failed to develop because of a lack of capital. But there was no such lack. The wealth that might have provided t… - Jason Hickel

But the rise of capitalism also depended on something else. It needed labour. Lots of it, and cheap. solved this problem too. With subsistence economies destroyed and commons fenced off, people had no choice but to sell their labour for wages – not to earn a bit of extra income, as under the previous regime, nor to satisfy the demands of a lord, as under serfdom, but simply in order to survive. They became, in a word, proletarians.

A contradiction lies at the very centre of the neoliberal project. On a theoretical level, neoliberalism promises to bring about a purer form of democracy, unsullied by the tyranny of the state. Indeed, this claim serves as the model lodestar for neoliberal ideology – a banner under which it justifies radical market . But, in practice, it becomes clear that the opposite is true: that neoliberalism tends to undermine democracy and political freedom. More than 40 years of experimentation with neoliberalism shows that it erodes the power of voters to decide the rules that govern the economic systems they inhabit. It allows for the colonization of political forums by elite interests - a process known as political capture - and sets up new political forums, such as the World Bank, the , and the , that preclude democratic representation from the outset. Neoliberalism also tends to undermine national sovereignty, to the point where parliaments of putatively independent nations no longer have power over their own policy decisions, but are governed instead by foreign banks, the , trade agreements, and undemocratic international institutions, all of which exercise a kind of invisible, remote-control power.

From his base on , the island shared today by Haiti and the Dominican Republic, he forced the local inhabitants – the – to bring him a certain quantity of gold every three months. Those who failed to do so would have their hands chopped off or were hunted down and killed. Men were forced to spend their lives in mines, stripping the mountains in search of gold. Up to a third of workers died every six months. Within two years of the Spanish invasion, some 125,000 people had been killed - half the island's population. Most of the remaining inhabitants of Hispaniola were forced into slave labour on plantations. A few decades later, only a few hundred Arawaks remained alive.