Consequences of Capitalism: Economic and Social Changes
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Consequences of Capitalism: Economic Changes
Capitalism is an economic system based on liberalism in which most means of production (machinery, factories, etc.) are privately owned. Its main theory is that of a free market and is based on competition law (supply and demand and reduce costs).
- Capitalism led to an inequality society (class society): high difference by wealth.
- Sometimes led to overproduction and economic crisis. It grows very fast but can decrease also very fast.
- Banks are joint-stock companies.
- Could finish in monopolies or oligopolies.
Consequences of Capitalism: Social Changes
There are high, middle, or petty bourgeoisie. Factors of class society: Capitalism organized society into the bourgeoisie, the rich people who carried out business... Continue reading "Consequences of Capitalism: Economic and Social Changes" »