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BOOK SUMMARY :

The capitalist revolution it was this great economic transformation that changed the face of the world ludwig von mises | misesorg september 19 2017 image credits misesorg the pre capitalistic system of product was restrictive its historical basis was military conquestthe 2008 recession restored keynes to prominence this account elaborates the misinformation that led to his repeated resurrection and interment since his death in 1946 keynes was more open minded about capitalism than is commonly believed and his nuanced views offer an alternative to the polarized rhetoric evoked by the word capitalism todaythe industrial revolution saw the sudden sharp rise of the manufacturing industrial and production sectors of the economy which facilitated a rise in economic revenue the capitalist system that began during the industrial revolution is one of the most effective and efficient methods of production in human historycapitalism is an economic system based on the private ownership of the means of production and their operation for profit characteristics central to capitalism include private property capital accumulation wage labor voluntary exchange a price system and competitive markets in a capitalist market economy decision making and investment are determined by every owner of wealth property this process which we call the capitalist revolution has been accompanied by growing threats to our natural environment and by unprecedented global economic inequalities economics is the study of how people interact with each other and with the natural environment in producing their livelihoods

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