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

The Formation of capitalist economy in European HistoryPure capitalism is characterized by backstage ownership of resources and by reliance on markets, in which buyers and sellers come in concert and determine what quantities of goods and resources are s grey-headed and at what price. Here no primordial authority oversees production and consumption. Rather, economic decisions are coordinated by the actions of blown-up numbers of consumers and producers, each operating in his or her own self-interest. Because post is privately own, it can be used in whatever behavior its owner chooses (Ragan and Thomas, p. 46). Europe had its capitalistic 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 tendency to generalize, often lose in the aggregate, or barely touch upon the root reformers of this era. The Northern Italians laid the foundations for the disso lution 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 breeding expectancy of a human being, little changed from year to year. Granted, there were periods of contend and civil unrest, but the federation as a whole remained unchanged. If a person was born into a poor family, then he or she would remain poor with virtually no exceptions. Society was regimented from decease to bottom with predetermined brotherly status, and no room for the ambitious. Even an individuals social contacts were largely limited to their local area. The vast majority of medieval society was engaged in agricultural 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 plight of the serfs, it is of no wonder why mercantile system grew in appeal. The capitalist ic enterprise offered never encounter opportunities for the ambitious. This gave rise to growing, groundbreaking and prosperous Europe. Cited Works Birdzell, L. E., Jr. & Rosenberg, Nathan. How the West Grew Rich The Economic translation of the Industrial World. Basic Books. New York 1986. Crow, John A. Italy A Journey through and through Time. Harper & Row. New York 1965, Hilton, Rodney. The Transition 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 up Worth, TX 1992.