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Mercantilism Vs Capitalism

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Capitalism is an economic system established on private ownership and the means of business operation for profit. There are many overlapping forms of capitalism, including; Mercantile capitalism, Industrial capitalism, Financial capitalism, Welfare capitalism and Globalized capitalism. Throughout history there has been a specific historical development with Capitalism. Merchant capitalism or Mercantile Capitalism a concept promoted by Hans Fugger refers to the initial phase in the development of capitalism as an economic and social system. Merchant capitalism is distinguished from developed capitalism by the absence of industrialization and of commercial finance. Merchant houses were backed by comparatively small financiers who acted as negotiators between simple …show more content…

This is the dominant economic system in the United States and the developed world. Karl Marx began to analyze the industrialization of our society more and more, looking at it as a prominent stage in the evolution of human society. To Karl industrial capitalism based on factory and wage labor was preceded by feudalism, where owners of the large landed estates had set their domination over peasants. Financial capitalism a stage of capitalism in which economic and political domination is exercised by financial institutions or financiers rather than by industrial capitalists. Welfare capitalism is an imperative but controversial aspect of today's economic politics. At a rudimentary level, welfare capitalism is a business-favored policy that believes the private sector can provide social welfare programs more effectively than the federal government. Welfare capitalism is usually seen as the opposite of the welfare state. Similar to modern capitalism, welfare capitalism began in the United Kingdom at the height of the Industrial Revolution. Private sector employers

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