The capitalist system developed in Europe due to a combination of historical, social, and economic factors. One major catalyst for its development was the decline of feudalism during the Middle Ages, which contributed to the rise of a merchant class and the accumulation of wealth. Additionally, European powers engaged in territorial expansion and global exploration, resulting in the acquisition of vast resources and the establishment of colonial trade networks. These ventures encouraged entrepreneurial endeavors and stimulated the growth of capitalist economies. Moreover, the Protestant Reformation, particularly in Northern Europe, emphasized the virtues of hard work, individualism, and frugality, which provided an ideological framework conducive to capitalism. The Enlightenment further championed the principles of free trade, individual rights, and limited government intervention, strengthening the foundations of capitalism. Finally, the Industrial Revolution, starting in the late 18th century, accelerated capitalist development by introducing technological innovations and transforming Europe into an industrial powerhouse. Overall, these interconnected forces led to the rise and consolidation of the capitalist system in Europe.
can you shorten that?
The capitalist system developed in Europe due to the decline of feudalism, the expansion of trade networks through exploration and colonialism, the influence of Protestant values promoting individualism, the ideas of the Enlightenment emphasizing free trade and individual rights, and the Industrial Revolution's technological advancements and industrialization.
can you simplify that?
Capitalism developed in Europe due to the end of feudalism, increased trade and colonization, Protestant ideals, Enlightenment ideas, and the Industrial Revolution.
