Capitalism In America: The Historical Progression Of American Capitalism And Its Positive Effects On The Economy

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[Capitalism in America: The Historical Progression of American Capitalism and its Positive Effects on the Economy]


Thesis Statement

Centuries-old interest in varieties of capitalism associated with economic development, protection of national economic and political interests, social security, and global competitiveness. The key role of national states in promoting or hindering capitalist development work on biased varieties of capitalism, which is usually identified with the various national capitalism, as if it was not just analytically distinct, but really worked in isolation from each other, rather than the complex cross-border , multinational, or global system.


Twentieth century was destined to become American Century and its first fifty years have seen the transfer of power and influence across the Atlantic. While the peoples of Europe will experience growth after 1900, as indicated by several indicators, including population, production, living standards, military potential, cultural influence, and even the territorial scope, since the relative position of Europe will decline in the twentieth century as leadership of the world on all these parameters had been reached the United States of America (Wheatley, 2008).

A type of economy and society, which, in its advanced form, came out of the industrial revolution of the eighteenth century in Western Europe, capitalism was subsequently conceptually different ways of economists, historians and sociologists (the term itself only came to be widely used in the later nineteenth century, in Specifically, the Marxist thinkers). Marx (Capital, 1867, Volume 1) defined it as "commercial society" in which the basic means of production belong to a class, the bourgeoisie and the labor becomes a commodity to be bought and sold. This concept was developed in the framework of Marx's theory of history - its "economic interpretation" - and capitalism is considered the last step in a long process of evolution of human modes of production and forms of society. Its distinctive features, according to Marx, had their opportunities for self-expanding through continuous accumulation (centralization and concentration of capital), it constantly revolutionized the production methods (highlighted in the Communist Manifesto), which is closely associated with the development of science and technology as the primary productive force, cyclical nature of its process of development, marked phases of prosperity and depression, and a clearer division, along with an increase in conflict between the two main classes.

Cold War prompted the interest, often heavily ideological, in communism and capitalism as a competing system, but not in their individual grades. The collapse of the Soviet bloc, the growth of Japan and other East Asian countries as a serious competitor to Western economies, and, more recently, intensified the process of globalization, the revival of interest in the varieties of capitalism, their perseverance, and opportunities for further convergence, whether market competition or clear global policy initiatives.

Capitalist economy operates on a contractual basis: vendors to participate in contracts with providers, employers engage in contracts with employees, customers engage in contracts with suppliers. Interestingly, capitalist economy is quite literally, a complex aggregation of many contractual relationships between a business entity and another. Obviously, then, the reproduction of the capitalist ...
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