By Niccolò Graffio
Historians tell us the economic system we call modern Capitalism began with the Dutch and the British in the early part of the 18th century. Some may quibble that it actually began earlier, but the essential elements (capital accumulation, competitive markets, pricing systems, etc) were not really established until then.
In today's media-driven, political climate of class warfare, it is de rigueur to bash Capitalism as a social evil. The proponents of this worldview proffer Socialism as an attractive alternative to it. Being old enough to remember when over 1/3 of the globe's population lived under various forms of Socialism, I can attest such is not the case.
Source: Magna Grece
