Capitalism, as does any other economic system, has several key characteristics that define it. First, basic production facilities such as land and capital are privately owned. Second, economic activity is organized and coordinated through the interaction between the buyers a

The origination of capitalism took place in Europe mainly during the thirteenth century and onward. The developments society underwent in Europe during the Renaissance and the Reformation were vital in the emergence of the modern nation-state. The nation state provided the essential peace, law, and order that are crucial for capitalism to grow. This growth is achieved through the accumulation of an economic surplus by the private entrepreneur and the funneling of this surplus back into the capitalist system for further expansion. Therefore without some minimum of peace, law and order, this cycle would not continue and capitalism would not be successful. (Heilbroner 147)

Today in the year 2000, capitalism is still the dominant economic system. The question for the future is will Global Capitalization take place and more importantly will it succeed? Global Capitalization is the rise of market capitalism around the world. It incorporates a free market system throughout the world with no economic boundaries. However the question remains how can this be done efficiently and erase all of the current problems? One of these problems for example could be an American company building a factory in Africa and globalize. However the problem could be that the American company is doing business in Africa because there may be certain regulations such as environmental laws in the U.S. that do not exist elsewhere. For Global Capitalism to move into the next stage will require a much more sophisticated look at the costs and benefits of open markets. (Engardio 72-76) Only the future may decide where capitalism is heading, but if the past is any indication, capitalism will correct itself where needed and

Some topics in this essay:
United United, Adam Smith, Renaissance Reformation, Franklin Roosevelt, Global Capitalization, Karl Marx, Robert Heilbroner, Industrial Revolution, Global Capitalism, Laissez-Faire Capitalism, economic system, capitalist system, government regulation, capitalism dominant economic, capitalism economic, peace law, land capital, global capitalization, idea mercantilism, industrial revolution, dominant economic system, capitalism economic system, own self,