Denver Business Daily

Capitalism..?

I have just recently started learning about Capitalism in 19th Century Europe. I am very interested and want to learn as much as I can so I can really succeed in this topic. Can anyone tell me the basics on Capitalism, what it really is, how it affected society, and how people ran society in the 1800's? Thanks!

Public Comments

1. Capitalism was started by 2 main bodies: Adam Smith and the Physiocrats. It constitutes a market economy in which there is extremely high production of goods and services but also very few worker rights and very little government intervention. Due to these two facts capitalism failed during the great depression. Even though our modern day economy may in some respects be a capitalistic one it is mostly a mixed economy because it does allow for worker rights and government intervention while still providing high productivity.