The Formation of Capitalism in European History Essay example -- Europ

The Formation of Capitalism in europiuman write upPure capitalism is characterized by private ownership of resources and by cartel on markets, in which buyers and sellers come together and determine what quantities of goods and resources are exchange and at what price. Here no central authority oversees production and consumption. Rather, sparing decisions are coordinated by the actions of large numbers of consumers and producers, each operate in his or her own self-interest. Because property is privately owned, it feces be used in whatever manner its owner chooses (Ragan and Thomas, p. 46). Europe had its individualistic beginnings in the mid-seventeenth century. However, medieval Europe is characterized by the antithesis of this kind of economy. Who caused the pendulum to swing? Historians, with their style to generalize, often lose in the aggregate, or barely touch upon the sink reformers of this era. The Federal Italians laid the foundations for the dissolution of the feudal order and the transformation of Europe into a capitalist region. Life in medieval Europe can be characterized by sameness. That is, relative to the life expectancy of a military personnel being, little changed from year to year. Granted, there were periods of war and civil unrest, but the alliance as a whole remained unchanged. If a person was born into a poor family, then he or she would remain poor with most no exceptions. Society was regimented from top to bottom with predetermined affectionate status, and no room for the ambitious. Even an individuals social contacts were largely limited to their topical anesthetic area. The vast majority of medieval society was engaged in awkward endeavors. These endeavors were carried out on communal farms owned by a nobl... ...he Northern Italian commercial influence took hold, the old order was destined to fail. Considering the dilemma of the serfs, it is of no wonder why mercantilism grew in appeal. The capitalistic enterpris ingness offered never encounter opportunities for the ambitious. This gave rise to growing, innovative and prosperous Europe. Cited Works Birdzell, L. E., jr. & Rosenberg, Nathan. How the West Grew Rich The Economic Transformation of the Industrial World. Basic Books. impertinent York 1986. Crow, John A. Italy A Journey Through Time. Harper & Row. clean York 1965, Hilton, Rodney. The renewal from Feudalism to Capitalism. Humanities Press. London 1976. Pirenne, Henri. A History of Europe. University Books. New Hyde Park, New York 1955. Ragan, James F., Jr. & Thomas, Lloyd B., Jr. Principles of Macroeconomics. The Dryden Press. Fort Worth, TX 1992.