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4.3 Development of Early Capitalism
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Загружено: 2024-06-25
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4.3 Development of Early Capitalism
Capitalism's Development and Importance
• Capitalism used accumulated capital to expand productive capacity, not invest in unproductive enterprises.
• Historical events encouraged this development.
• Ancient European cities and towns were destroyed after the collapse of the Roman Empire.
• Trade revived slowly, and old Roman cities were restored.
• Towns became centers of production and exchange.
• New long-distance international trade became important, leading to big profits.
• Trade problems included transport difficulties, insecurity from war and robbery, and heavy tolls on commodity transit.
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