What is Capitalism | What County

What is Capitalism

“Capitalism” refers to a certain economic and social order. Supply and demand determine the market and production. Capital is machinery, equipment, factories, money, vehicles and so on. Under capitalism, capital is owned by entrepreneurs. The state intervenes little or not at all in the economic process. Entrepreneurs are largely free to work and let them work. The state protects private property and entrepreneurs.

What is Capitalism
What is Capitalism
Capitalism
Capitalism

The period of the Industrial Revolution in the 19th century, when the first factories appeared, is considered the beginning of capitalism. At that time, people often worked in the factories in very bad conditions. Most of the time the wages were low, the work was hard and there were no laws to protect the workers.

At the beginning of the 20th century, the capitalist economic systems of the Western industrialized countries were reformed. The state, through laws and political measures, influenced economic events, and the unions, which had become stronger, represented the interests of the workers.

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