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Essay

Why Is Capitalism So Prevalent In The Global Economy?

Essay specific features

 

Issue:

Business

 

Written by:

Diane S

 

Date added:

October 13, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 636

 

Was viewed:

5102 times

 

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Essay content:

Also, what factors helped drive capitalism global. To first understand why capitalism is so widespread in the global economy lets have a better understanding of what capitalism is. Capitalism, also called free market economy, or free enterprise economy, is an economic system in which the method of production and distribution are privately or corporately owned and development is balanced to the growth and reinvestment of profits gained in a free market...
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In other words, capitalism is a social system based on the belief of individual rights (Capitalism 2007). The driving force behind the expansion of capitalism was the growth of the English cloth industry during the 16th, 17th, and 18th centuries. The trait of this development that distinguished capitalism from previous systems was the use of the surplus of production over consumption to increase productive capacity rather than to invest in economically unproductive enterprises, such as pyramids and cathedrals...
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