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Capitalism Today in the United States, a free market system or capitalism is the main economic system. I am interested in this subject because I someday wish to own my own business. I believe that in the future this topic will be very useful to me. Among the topics that I will discuss are the Greeks and Romans early practices of capitalism, Karl Marx, corporations, regulation by the government. I will also discuss the relationship between inflation and unemployment. In addition, I will give my own perspective on the economic theories that I'm presenting. These are just a few of the things that I will be discussing in this paper. HISTORY OF CAPITALISM Many of the institutions of capitalism can be traced back to Greek and Roman times. Things such as trade, money lending was well known practices to them. Unfortunately, growth of the Roman Empire prevented further development of a private business class. As power over economic growth came back to the people or lords during the middle Ages, modern capitalism started to evolve. In the late middle Ages, the medieval economy was based on MANORALISM. This system said that peasants worked on the land that the lord's owned, but everything that was produced by them was kept in return they had to perform services or pay dues to there lord. During this time period, there was no incentive to produce large and productive resources. The end was brought about by a larger demand for goods. Kings competed against lords, and lords competed with peasants for the rights to what was produced. As a result, there was an emergence of merchants and businessmen who Accumulated large sums of capital. In addition, there was also a large Emergence of banks and the start of corporations. The only other economic system that got much attention was a new idea called Communism. A person named Karl Marx wrote a book called the Communist Manifesto which thought of the state as being the main controller of economic growth, unlike capitalism where the people in a free market are the main controllers of economic growth.
Approximate Word count = 1333
Approximate Pages = 5.3
(250 words per page double spaced)
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