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The Formation of Capitalism in European History

What is the main theme of capitalism? Basically, it’s about using wealth to create more of it, and one of the simplest forms is lending money to earn some interest. This idea reviled in the Middle Ages and it was called the sin of usury. If you consider a more sophisticated capitalism level, it involves investing money in certain projects to return a share of their profits. When it comes to the owners of industrial enterprises, including factories, this system reveals characteristic distinctions. This is when all profits go to only one person, while others share work.

This means that full-scale capitalism leads to an inevitable division between workers and employers, labor and capital. How did it form? To answer this question, focus on the history of Europe and the Middle Ages. The church treated usury negatively so that capitalism had no chance to develop and evolve, but its roots lie in this period. Think about the fast development of European prosperity and trade in the 13th century, as this is what allowed major cities in such countries as Italy to witness the creation of wealth, and it was capitalistic in its kind. The main reason is that all merchants are capitalist in their essence because they risk their money each time when buying in one place and selling in others.

In the 14th century, Florence demonstrated some more familiar indications of capitalism. That’s because there were famous banking families engaged in different transactions across Europe. Besides, Florence even had a successful strike run by those underpaid day workers in the clothing industry who wanted a share in the major benefits obtained by employers. In France, the story of Coeur can provide you with a great individual example of the fast creation of wealth via skillful investments in foreign goods.

All similar cases contain the basic elements of later capitalism, but their scale was a bit limited, and that’s why they are different. In the world, there have always been certain markets and those people who could use them to earn a fast fortune. The important characteristics of capitalism can become evident only with increases in its scale. The formation of joint stock companies and the Industrial Revolution in Europe originated this system because of developing many factories, workers, commercial undertakings, and so on. Finally, this system is still present in many powerful countries, not only in Europe.

What is the main theme of capitalism? Basically, it’s about using wealth to create more of it, and one of the simplest forms is lending money to earn some interest. This idea reviled in the Middle Ages and it was called the sin of usury. If you consider a more sophisticated capitalism level, it involves investing money in certain projects to return a share of their profits.

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100001822
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CREATED ON
September 23, 2016
COMPLETED ON
September 24, 2016
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$23
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