The origin of capitalism
By Ustani A
@Charlesbronson (954)
Indonesia
December 30, 2020 7:48am CST
The history of capitalism can be traced back to the early forms of merchant capitalism practiced in Western Europe during the Middle Ages. This history began to develop into its modern form during the Early modern period in Protestant North-West European countries, especially the Netherlands and England.
The negative impact of the capitalist economic system is that there will be an accumulation of wealth, it will cause excessive individualism, and a lack of cooperation among people.
What do you think, is capitalism still running in your country?
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3 responses
@eshtreef (180)
•
30 Dec 20
Capitalism unfortunately has taken over the world, and it is running in most countries, including mine. There is no utopian political system that has ever worked ideally in the history of civilization. Even if there is, political rulers will abuse it for the sake of their benefit. That's the reason why communism also never worked in the past. This is just my opinion.
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@ShankyAmbasta (126)
• New Delhi, India
30 Dec 20
Exactly ! No political order comes without flaws.. That's the sad reality.
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@ShankyAmbasta (126)
• New Delhi, India
30 Dec 20
Though capitalism is an evil in own sense other systems do not bode fair as well. Capitalism has scope of innovation when you own the resources but also concentrates wealth into hands of few.
While Socialist system may provide an equitable life to each, it may hamper innovative ideas because you get same remuneration for different works.
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@Charlesbronson (954)
• Indonesia
30 Dec 20
@eshtreef In our country we apply semi-capitalism indirectly, because state-owned companies are involved in doing business. Private companies are helpless.
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@ShankyAmbasta (126)
• New Delhi, India
30 Dec 20
@eshtreef Thank You very much ! Yes we just need to combine the goods of each one ! Though that's a herculean task in itself.
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