Capitalism - Capitalism Today in America, a free market...

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Capitalism Today in America, a free market system or capitalism is the Main economic system. I am interested in this subject, because one day you want my own business. I think in the future this issue will be very helpful to me. Among the topics I will discuss are the Greeks and Romans first practices of capitalism, the ideas of Joseph Schumpeter, Rush Limbaugh, and Karl Marx, companies, government regulation, and Reagan. I Also discuss the relationship between inflation and unemployment. In In addition, I will give my own perspective on the economic theories that I am present. These are just some of the things that I will outline in this paper. HISTORY OF CAPITALISM Many of the institutions of capitalism back to the Greeks and Roman times. Things like trade, money lending, insurance and were well known practices to them. Unfortunately, growth of the Roman Empire prevented more the development of private entrepreneurial class. As power over economic growth back to the people or the lords of the Middle Ages, modern capitalism began to evolve. (The Encyclopedia Illistrated Software Toolworks) In the Middle Ages, the medieval economy was based on MANORALISM. This system, said the peasants worked the land which the Lord of property, but Everthing that was produced by them remained in return had to perform fees for services or pay no sir. During this time, there was incentive to produce large amounts of resources and productive. The end of the midieval Manoralism was caused by increased demand for goods. Reyes competed against the lords and gentlemen farmers competed with the rights to what is produced. The result was a surge of traders and entrepreneurs accumulated large sums of capital. In addition, there was a great appearance of the banks and corporations start. (Galbraith p. 58.) The only other economic system that has attracted much attention was a new idea called communism. A person called Karl Marx wrote a book called the Communist Party Clear that the thought of the state as the main regulator of economic
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This note was uploaded on 09/20/2011 for the course ECO 561 561 taught by Professor Jonnanoe during the Winter '09 term at University of Phoenix.

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Capitalism - Capitalism Today in America, a free market...

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