capitalism

CAPITALISM

What is Capitalism? Perhaps it is maybe a system where people get to have freedom? Or maybe it is a system that allows people to make their own choices without other people or government interfering? Perhaps it is a system that maybe a country can use to rely or based its economic principles in the way its productions function. Or yet, perhaps it is all three. The word “capitalism” can be divided into two parts. The first part which would be “capit-”, which was derived from capitale, a Latin word based on proto-Indo-European caput, meaning "head". The second part being a root word “-ism”, means doctrine or theory; therefore, we can summarize this word and say that capitalism is principle on how the head (country) is ran and the way it commands or it controls its lower functions. Looking up the word in the dictionary, the word capitalism is defined as an economic and political system characterized by a free market for goods and services and personal control of production and consumption. Searching this word in the wikipedia, it refers to capitalism as “a general agreement that elements of capitalism include private ownership of the means of production.” According to other sources such as scholars, they defined capitalism as economic system in which private individuals own most of the factors of production and make most economic decisions. The practice of capitalism can be traced back to Adam and Eve but as in history, it can be traced back in the Middle Ages. Many historians have considered that perhaps the Netherlands was the first capitalist country. According to economist historians, the modern capitalist system originated in the fourteenth century. Although they completely do not have a concept of the Bible, they just based their information of their history books. As the years past by, capitalism dominated in the western world after the