-
Mar 30, 1200
Merchants capitalism
Merchants first started the idea of capitalism in 1200 CE and continued on until the Middle Ages where it got more serious. -
Mar 3, 1400
Middle Ages
During the Middle Ages, capitalism was portrayed by merchants who started to invest in products in hope for a profit. -
Period: to
The Industrial Revolution
The Industrial Revolution made capitalism able to start to rise quicker and easier -
Adam Smith 'The Wealth of Nations'
In 1776, Adam smith a Scottish Political philosopher who published a piece about theories in politics. -
USA adopt Smith's theory
Soon after Adam Smith's piece The Wealth of Nations was published , the USA adopted the concept of capitalism to start the new nation. -
The 4 concepts of Capitalism
Adam Smith came up with 4 concepts of capitalism; capital, supply on demand, competition laissez-faire. Each concept makes up the system of capitalism. -
The First Fleet
When the first fleet of European settlers landed on the lands of Australia that was when capitalism first came to Australia. As there was the rulers and the convicts who worked for the rulers. -
Period: to
Cornelius Vanderbilt
Vanderbilt was most benefited from Capitalism as it made him into one of the richest men in history. -
Wages and Working Conditions
Workers of all the wealthy took a stand and realised how they had been taken advantage of from their employers. -
Capitalism in Britain
Capitalism first developed in Britain, this made it easy as it was the ruling country of world then. -
Period: to
The Civil War
The Civil War helped Capitalism become more of a well known system. -
The 'Robber Barons'
The Robber Barons were a group of men who used capitalism to their advantage. -
McDonalds started
One of the most successful businesses in Capitalism started. -
Increase in Agriculture
With the increase of Agriculture in the 16th century as food prices started to rise this gave the farmers a profit to invest in more agriculture activity. -
Modern Capitalism
Today Australia is so rich in small businesses that we are a capitalist society.