Capitalism
Videos
Capitalism is an economic system based on the private ownership of the means of production and its use for the purpose of obtaining profit. This socioeconomic system has developed historically in seve
Cosimo de' Medici (pictured in a 16th-century portrait by Pontormo) built an international financial empire and was one of the first Medici bankers.
Augsburg, the centre of early capitalism
A painting of a French seaport from 1638 at the height of mercantilism
Robert Clive with the Nawabs of Bengal after the Battle of Plassey which began the British rule in Bengal
Socialism
Videos
Socialism is an economic ideology and political philosophy encompassing diverse economic and social systems characterised by social ownership of the means of production, as opposed to private ownershi
Capitalism
…novelist William Makepeace Thackeray, where the word meant "having ownership of capital". Also according to the OED, Carl Adolph Douai, a German American socialist and abolitionist, used the term "private capitalism" in 1863. Other terms sometimes used for capitalism are…
New Harmony, a utopian attempt as proposed by Robert Owen
Socialists in Union Square, New York City on May Day 1912
Russian revolutionary, politician, and political theorist Vladimir Lenin in 1920
R. H. Tawney, founder of ethical socialism