Long before the factory, every society had answered who controls work and who keeps the surplus. The episode walks four pre-industrial answers in order: the guild, the wage statute, the indenture, and chattel slavery, where a human being was converted entirely into capital. It defines the series' terms and asks whether capital against labor drives history.
Historians dispute whether guilds were cartels or engines of skill transmission, and whether the Statute of Artificers suppressed wages or ordered a paternalist society. Morgan's thesis on race and class, and the claim that slave wealth exceeded all other capital, are contested.



