Tag: competitive advantage

  • Modern Capitalism Beginnings

    Capitalism Beginnings of Modern CapitalismTwo developments paved the way for the emergence of modern capitalism; both took place in the latter half of the 18th century. The first was the appearance of the physiocrats in France after 1750; and the second was the devastating impact that the i…

  • Capitalism Future

    Capitalism Outlook for the futureFor 25 years after World War II the mixture of Keynesian ideas with traditional forms of capitalism proved extraordinarily successful. Western capitalist countries, including the defeated nations of World War II, enjoyed nearly uninterrupted growth, low rate…

  • Capitalism In The 20th Century

    Capitalism 20th-Century CapitalismFor most of the 20th century capitalism was buffeted by wars, revolution, and depression. World War I brought revolution and a Marxist-based communism to Russia. The war also spawned the Nazi system in Germany, a malevolent mixture of capitalism and state s…

  • Capitalism Mercantilism

    Capitalism MercantilismFrom the 15th to the 18th century, when the modern nation-state was being born, capitalism not only took on a commercial flavor but also developed in another special direction known as mercantilism. This peculiar form of capitalism attained its highest level in Englan…

  • Capitalism Origins

    Capitalism OriginsMerchants and trade are as old as civilization itself, but capitalism as a coherent economic system had its origins in Europe in the 13th century, toward the close of the feudal era. Human beings, Adam Smith said, have always had a propensity to "truck, barter, and ex…

  • Capitalism Characteristics

    Capitalism Characteristics of CapitalismThroughout its history, but especially during its ascendency in the 19th century, capitalism has had certain key characteristics. First, basic production facilities-land and capital-are privately owned. Capital in this sense means the buildings, machi…

  • State Capitalism

    The ownership and operation of business enterprises by agencies of government. Unlike Marxism, which espouses state ownership of the means of production, state capitalism is not necessarily motivated by ideological consideration; a particular economic enterprise may be run by the state because it is…