Etymology
The word "capitalist" derives from the Latin word "capitalis," which originally referred to the head of a household or a person of high rank. It later came to be associated with the ownership of wealth, particularly in the form of capital.
Meaning and Origin
The term "capitalist" was first used in its modern sense in the 19th century to describe individuals who owned or controlled significant financial resources and means of production. These individuals played a central role in the developing capitalist economic system, which emphasized private ownership, free markets, and the profit motive.
Key Features of Capitalism
Historical Context
The rise of capitalism can be traced back to the Industrial Revolution in the 18th and 19th centuries, when new technologies and methods of production led to increased wealth creation and the accumulation of capital. The capitalist system has since evolved and undergone significant transformations, but its fundamental principles remain largely intact.
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