Economic Systems Societies have developed different economic systems for many reasons.While some economic systems have helped the economy of a country to improve, other economic systems have caused the economy of a nation to become greatly unstable. One example of an economic system is capitalist.
Under the economic system Capitalism. England was one of the first countries to implement Capitalism as its economy system because of the Industrial Revolution (1750-1850s ). Most of the upper class in England started business , hoping to gain more profit. Capitalism helped them by allowing factory owners to get all of the profit from their businesses , not having to pay anything to the government. The owners of the factories hired people to work. For farmers who had lost their agricultural work went to …show more content…
Near rivers and new railroads, England was urbanized. This created more jobs, boosting the economy. Bing business benefited a lot by earning larger profit. Unlike Communism, Capitalist business actually tried to improve the economy of the nation.The economic system of Capitalism had several negative aspects as well. Some of it would be that the workers were being exploited and overworked. The workers had to work long hours, keeping them away from spending time with their families. Also the owners made more money out of the long hours than the workers did. However, once the nation's economy became strong , all the workers rights and payments and conditions improved for the better.
In conclusion, Capitalism has caused England’s economy to become strong, hence, it help stabilize the nation. Business owners really benefited from Capitalism. Certain features of Capitalism were appealing to some , while for others it wasn’t. The Industrial Revolution was a good reason for success of Capitalism in England. Overall, Capitalism was a good way to boost the economy of England’s
Under the economic system Capitalism. England was one of the first countries to implement Capitalism as its economy system because of the Industrial Revolution (1750-1850s ). Most of the upper class in England started business , hoping to gain more profit. Capitalism helped them by allowing factory owners to get all of the profit from their businesses , not having to pay anything to the government. The owners of the factories hired people to work. For farmers who had lost their agricultural work went to …show more content…
Near rivers and new railroads, England was urbanized. This created more jobs, boosting the economy. Bing business benefited a lot by earning larger profit. Unlike Communism, Capitalist business actually tried to improve the economy of the nation.The economic system of Capitalism had several negative aspects as well. Some of it would be that the workers were being exploited and overworked. The workers had to work long hours, keeping them away from spending time with their families. Also the owners made more money out of the long hours than the workers did. However, once the nation's economy became strong , all the workers rights and payments and conditions improved for the better.
In conclusion, Capitalism has caused England’s economy to become strong, hence, it help stabilize the nation. Business owners really benefited from Capitalism. Certain features of Capitalism were appealing to some , while for others it wasn’t. The Industrial Revolution was a good reason for success of Capitalism in England. Overall, Capitalism was a good way to boost the economy of England’s