American Imperialism In The 19th Century

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Capitalism is defined as an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth. The beginnings of this economic order can be dated back to the eleventh century in Europe. At this time, feudalism was the political system, and the land was the basic unit of capital. A creation of classes was established when wage labor and rents were introduced into the system. The royalty and clergy were the highest class and used the production from the lower classes for their own good. Then, mercantilism came into play, where merchants would sell the goods made by the workers at a minimum wage.…show more content…
Europe became the dominant power in the world, with other countries feeding on its increasing status. When the slave trade began, capitalism moved to its highest point, imperialism. Imperialism is the policy of extending the rule or authority of an empire or nation over foreign countries, or of acquiring and holding colonies and dependencies. This resulted in third world countries because they were robbed of their resources and raw materials and could not grow. Slave exploitation caused America to become the central power in economic, military, and political strength, instead of Europe. Multi-national corporations were created due to the growth of finance capital. Even today, America is still under the economic order of

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