What are the two stages of development of the Greek Civilization
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- INDUSTRIAL CAPITALISM : Capitalism is an economic system in wich the means of production are predominantly privately owned. Capitalism appears in various forms with various degrees of governmental control, bur its basic theoty is that of a free market. Economic activities respond to the free initiative of individuals, whose objectiveis the persuit of maximum profit.
- THE GORTH OF FINANCE : Industrialisation resulted the development of finance. Banks started to multiply and diversify. The need for capital to form new companies led to the creation of public limited companies, in wich capital is divided into shares.
- PROTECTION AND FREE TRADE : Great Britain was pioneer of the industrial revolution and, in the advanced stages of industrialisation, was in favour of free trade
- THE EXPANSION OF INDUSTRIALISATION : Industrialisation spread throughtout the world, albeit to varyng degrees. In the early 19 century, the conomic transformations started in France and Belgium, where textile industry eas less significanr, and industrialisation depended on the exploitation of coal deposits.