NY_stock_exchange_traders_floor_LC-U9-10548-6

2. Capitalism

As feudalism ended in the 15th century, capitalism rose to become the dominant economic system in the western world. Different forms of the economic system, which runs on profits made in a market economy, are in use today all over the world.

The J-Connection?

Classical political economist David Ricardo–peer to the famed Adam Smith, Jean-Baptiste Say, and John Stuart Mill–was a British Jew. Though tracing the early use of the word “capitalism” is complicated by the evolving meaning, Ricardo was among the first to use the term in his writing, referring to the “capitalist” many times in his 1817 piece “Principles of Political Economy and Taxation.” However, the term “capitalism” in its modern form is often attributed to Karl Marx, who had Ashkenazi Jewish ancestry. Marx referred to the capitalistic system and capitalist mode of production more than 2,600 times in his 1867 trilogy “Das Kapital.”

Comment