| At this time the theory of capitalism was invented. This said that free markets, in which anyone could make, buy and sell freely, would evolve to produce the greatest good for the greatest number of people. Competition between businesses would bring prices down to the lowest possible level while keeping employment at its highest possible level, and governments should not try to control markets. The theory said that monopolies kept prices too high and should not be allowed. Competition always led to the best conditions, according to capitalist ideas. The industrial countries adopted this system and it led to the end of mercantilism. | ||
Useful Links |
Human Environment > Capitalism
Loading
This site tells the story of the history of the universe. Click Earlier and Later to follow the story.
Note: Many facts have been simplified to make them easier to understand.
Click here to read Time Crystal, history of the Universe as sci-fi fantasy romance!
Note: Many facts have been simplified to make them easier to understand.
Click here to read Time Crystal, history of the Universe as sci-fi fantasy romance!
