"Capitalism
I don't know that much about capitalism but I do know that it's a type of economic system that I'm pretty sure that America uses. It has something to do about the way the economy is run in a way where competition is encouraged and monopolies are prevented by government laws."
After reading the passage:
I think that capitalism is an economic system (which I said in my previous definition) that led to a boom in the reconstruction of European society. It works in a way in which merchants and manufacturers make their products available to a free marker where competition leads into population growth and urbanization. Capitalism allowed for an increase of the variety and quality of goods and products. Capitalism seems to be also a little unfair because it has to do with private companies and private parties who the book says "seek to take advantage of marker conditions to profit from their activities (649)." Instead of the government controlling the economy, capitalism is a step forward into a society where the people call the shots. It's quite obvious why Europe took so much interest in capitalism when they started to de-centralize. I think that Capitalism, while it is unfair at times, is advantageous for the common people mainly because of the push and pull system of "supply and demand". In this way, the consumers have some control over the economy since they control the "demand" end of the stick. If they play their cards right, they could end up buying products at a bargained price if they pay attention to the "supply". Although the "putting out system" is ridiculously one sided in advantages, it still gave the rural people jobs. In a way, capitalism was like a mandatory play that schools put on where everyone played a part in.
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