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Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Economistshistorianspolitical economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include laissez-faire or free-market capitalismstate capitalism Capiral welfare capitalism. Different forms of capitalism feature varying degrees of free marketspublic ownership[8] obstacles to free competition and state-sanctioned social policies.

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The degree of competition in markets and the role of intervention and regulation as well as the scope of state ownership vary across different models of Capital And Creation Of New Capital. Most of the existing capitalist economies are mixed economies that combine elements of free markets with state intervention and in some cases economic planning. Market economies have existed under many forms of government and in many different times, places and cultures. Modern capitalist societies—marked by a universalization of money -based social relationsa consistently large and system-wide class of workers who must work for wages the proletariat and a capitalist class which owns the means of production—developed in Western Europe in a process that led to the Industrial Revolution.

Capitalist systems with varying degrees of direct government intervention have since become dominant in the Western world and continue to spread.

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Constant economic growth is a characteristic tendency of capitalist economies. Critics of capitalism argue that it concentrates power in the hands of a minority capitalist class that exists through the exploitation of the majority working class and their labor; prioritizes profit over social good, natural resources and the environment; is an engine of inequality, corruption and economic instabilities; and that many are not able Capital And Creation Of New Capital access its purported benefits and freedoms, such as continue reading investing.

Supporters argue that it provides better products and Capiral through competition, promotes pluralism and decentralization of power, disperses wealth to people who are able to invest in useful enterprises based on market demands, allows for a flexible incentive system where efficiency and sustainability are priorities to protect capital, creates strong economic growth, and yields productivity and prosperity that greatly benefit society.

The term "capitalist", meaning an owner of capitalappears earlier than the term "capitalism" and dates to the midth century. Capitale emerged in the 12th to 13th centuries to refer to funds, stock of merchandise, sum of Capital And Creation Of New Capital or money carrying interest. Benjamin Disraeli used the term in his work Sybil. The initial use of the term "capitalism" in its modern sense is attributed to Louis Blanc in "What I call 'capitalism' that is to say the appropriation of capital by some to the exclusion of others" and Pierre-Joseph Proudhon in "Economic and social regime in which capital, the source of income, does not generally belong to those who make it work through their labor".

Marx did not extensively use the form capitalismbut instead capitalist and capitalist mode of productionwhich appear more than 2, times in the trilogy Capital Das Kapital.

In the English languagethe term "capitalism" first appears, according to the Oxford English Dictionary OEDinin the novel The Newcomes by novelist William Makepeace Thackeraywhere the word meant "having ownership of capital". Capitalism in its modern form can be traced to the emergence of agrarian capitalism and mercantilism in the early Renaissancein city-states like Florence. Simple commodity exchange and consequently simple commodity production, which is the initial basis Capita the growth of capital from trade, have a very long history. Arabs promulgated capitalist economic policies such as free trade and banking.

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Their use of Indo-Arabic numerals facilitated bookkeeping. These innovations migrated to Europe through trade partners in cities such as Venice and Pisa. The Italian mathematician Fibonacci traveled the Mediterranean talking to Arab traders and Ceration to popularize the use of Indo-Arabic numerals in Europe. Capital and commercial trade thus existed for much of history, but until recent centuries it did not lead to industrialization or dominate the production process of society.

That required a set of conditions, including specific technologies of mass production, the ability to independently and privately own and trade in means of production, a class of workers willing to sell their labor power for a living, a legal framework promoting commerce, a physical infrastructure allowing the circulation of goods on a large scale and security for private accumulation. Many of these conditions do not currently exist in many Third World countries, although there is plenty of capital and labor. The Freakonomics for the development of capitalist markets are therefore less technical and more social, cultural and political.

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The economic foundations of the feudal agricultural system began to shift substantially in 16th-century England as the manorial system had broken down and land began to become concentrated in the hands of fewer landlords with increasingly large estates. Instead of a serf -based system of labor, workers were increasingly employed as part of a broader and expanding money-based economy. The system put pressure on both landlords and tenants to increase the productivity of agriculture to make profit; the weakened coercive power of the aristocracy to extract peasant surpluses encouraged them to try better methods, and the tenants also had incentive to improve their methods in order to flourish in a competitive labor market.

Terms of rent for land were becoming subject to economic market forces rather than to the previous stagnant system of custom and feudal obligation. By https://amazonia.fiocruz.br/scdp/essay/benedick-and-beatrice-argument-quotes/the-church-as-the-good-news-of.php early 17th century, Https://amazonia.fiocruz.br/scdp/essay/mormon-bank-utah/the-basis-of-biblical-counselling-and-nouthic.php was a centralized state in which much of the feudal order of Medieval Europe had been swept away.

This centralization was strengthened by a good system of roads and by a disproportionately large capital city, London.]