The Evolution of Capitalism: From Liberalism to Imperialism (1750–1918)
The Expansion of Capitalism
Capitalism is a system inherently driven toward territorial expansion. Its ultimate, unchanging logic remains the maximization of profit. The capitalist system fundamentally creates a class structure where a few possess the means of production, while the majority do not.
Stages of Capitalist Development
- Mercantile Capitalism (16th–17th Centuries)
- Liberal Capitalism (18th Century): Based on Enlightenment ideas and the theories of Adam Smith. Characterized by an economic policy of ultra-liberalism (laissez-faire). This era saw the start of industrialization and the bourgeois revolutions of the 18th century.
- Industrial Capitalism (1750–1873): The Industrial Revolution occurred during the late 18th century through the