The History of Capitalism Essay -- Essays Papers

The History of Capitalism Capitalism is based on the same principles as mercantilism. The accumulation of means, materials, land and other things, this accumulation is called capital and â€Å"the property-owners of these means of production are called capitalists† (Hooker 2). Productive labor, human work that is necessary to make goods and distribute them, takes the form of wage labor. â€Å"The means of production and labor is manipulated by the capitalist using rational calculation in order to realize a profit† (Hooker 2). Mercantilism is the earliest form of capitalism. Mercantilism can be simply defined as the allotment of trading goods for profit. Rome is credited with the first formation of a mercantile society. As the Rome Empire expanded, mercantilism expanded with it, spreading into the Middle East and Western Europe. Due the localizing nature of European economies this enabled mercantilism to expand and was not part of the European culture. Thus by the fifteenth century, when the Roman Empire began to retrench so did mercantilism (â€Å"Hooker†). In contrast to Europe, the Arabic economies grew around a thieving mercantilism. They lived on trade routes between three magnificent empires: Egypt, Persia and soon after the Byzantium, and they found that stealing products, then selling them, to be very lucrative. Thieving mercantilism spread swiftly through Spain, Asia, Middle East, and Northern Africa, where â€Å"Arabic mercantilism assumed an unprecedented global character† (Hooker 1). During the Medieval Age is when the European culture expanded its mercantilism, taking trading to lands far beyond its shores. From the 1300’s onwards, the Europeans would push â€Å"their mercantile practices† forward, (Hooker 1) causing social up... ...ural production of human nature. Of all the economic systems tried to date, Capitalism appears to be the only system that has endured many tests, and has grown to dominate the world. The fact that communism in Russia failed during the 1980 and 1990’s proves that capitalism is the outcome of human nature. Capitalism conforms to the natural laws and conditions of humanity and that anything that falls out of these conditions can only brings misery (â€Å"Wood†). Works Cited - Kan, Fang et al. An Economic History of the Major Capitalist Counties. New York: East Gate, 1992. - Hooker, Richard. â€Å"Capitalism†. The European Enlightenment Glossary. 1996. 8 Nov 2004. - Wood, Ellen Meiksins. The Origins of Capitalism. New York: Monthly Review Press, 1999. Wood, Ellen Meiksins. The Origins of Capitalism. New York: Monthly Review Press, 1999. The History of Capitalism Essay -- Essays Papers The History of Capitalism Capitalism is based on the same principles as mercantilism. The accumulation of means, materials, land and other things, this accumulation is called capital and â€Å"the property-owners of these means of production are called capitalists† (Hooker 2). Productive labor, human work that is necessary to make goods and distribute them, takes the form of wage labor. â€Å"The means of production and labor is manipulated by the capitalist using rational calculation in order to realize a profit† (Hooker 2). Mercantilism is the earliest form of capitalism. Mercantilism can be simply defined as the allotment of trading goods for profit. Rome is credited with the first formation of a mercantile society. As the Rome Empire expanded, mercantilism expanded with it, spreading into the Middle East and Western Europe. Due the localizing nature of European economies this enabled mercantilism to expand and was not part of the European culture. Thus by the fifteenth century, when the Roman Empire began to retrench so did mercantilism (â€Å"Hooker†). In contrast to Europe, the Arabic economies grew around a thieving mercantilism. They lived on trade routes between three magnificent empires: Egypt, Persia and soon after the Byzantium, and they found that stealing products, then selling them, to be very lucrative. Thieving mercantilism spread swiftly through Spain, Asia, Middle East, and Northern Africa, where â€Å"Arabic mercantilism assumed an unprecedented global character† (Hooker 1). During the Medieval Age is when the European culture expanded its mercantilism, taking trading to lands far beyond its shores. From the 1300’s onwards, the Europeans would push â€Å"their mercantile practices† forward, (Hooker 1) causing social up... ...ural production of human nature. Of all the economic systems tried to date, Capitalism appears to be the only system that has endured many tests, and has grown to dominate the world. The fact that communism in Russia failed during the 1980 and 1990’s proves that capitalism is the outcome of human nature. Capitalism conforms to the natural laws and conditions of humanity and that anything that falls out of these conditions can only brings misery (â€Å"Wood†). Works Cited - Kan, Fang et al. An Economic History of the Major Capitalist Counties. New York: East Gate, 1992. - Hooker, Richard. â€Å"Capitalism†. The European Enlightenment Glossary. 1996. 8 Nov 2004. - Wood, Ellen Meiksins. The Origins of Capitalism. New York: Monthly Review Press, 1999. Wood, Ellen Meiksins. The Origins of Capitalism. New York: Monthly Review Press, 1999.