The capitalist system developed in Europe primarily due to a combination of factors, including the accumulation of wealth through colonialism, trade, and industrialization. Additionally, the rise of the mercantilist economic system in the 16th and 17th centuries encouraged the development of markets, trade, and private ownership of resources. The Protestant Reformation also played a role in promoting individualism, hard work, and thrift, which are key values in capitalist economies. Finally, the Enlightenment period in Europe emphasized reason, science, and individual rights, which further supported the growth of capitalism.
