Thoughts on Capitalism

Capitalism is a system in which private or corporate wealth is used in the production and distribution of goods. This results in the private owners getting a profit. Capitalism started in the 17^th century. Right away the merchants were the same as the consumers and producers. Soon the merchants began to become more powerful. Waged workers were a big stage in the development of capitalism. The merchants began to trade and start to control the means of production. This created a new stage called primitive capitalists and they have more power over waged workers. Capitalism started the cottage industry, which was mini factories in homes and the production was controlled by capitalist. The population went through a violent conditioning process. The new capitalists needed to pressure production to get more for less. So they could make more on trading to increase their profits. As capitalism grew the feudal economic system lost its power and disappeared. Capitalist got the idea to make a factory owned by them for people to work at so they did not have to work in their cottage. With people now working in factories capitalist could pay them little to work. They could now also make shifts for people to work to get maximum productivity. The factory could now be running all the time having people change shifts. This lead to the capitalist able to make more product and increased profits. The making of factories led to the industrial revolution. During the industrial revolution the steam engine was made. The steam engine replaced workers. This save money for the capitalist, they no longer had to pay people to make things they now had machine that could also do it quicker. Now in modern day this has helped with countries communicating and trading.