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Questions about Capitalism

Short answers, pulled from the story.

When did the word capitalist first appear in print?

The word capitalist appeared in the Hollantse Mercurius newspaper during 1653 and 1792. Arthur Young recorded its first English usage four years after this Dutch publication, specifically in his 1792 work Travels in France.

Who coined the modern sense of capitalism and when was it defined?

Louis Blanc coined the modern sense of capitalism in 1850 when he defined it as the appropriation of capital by some to the exclusion of others. Pierre-Joseph Proudhon followed with his own definition in 1861 describing an economic regime where capital does not generally belong to those who make it work through labor.

What defines private ownership of means of production in capitalism?

Private ownership of means of production defines capitalism alongside profit motive and capital accumulation. Hernando de Soto argued that functioning state protection of property rights creates formal systems where transactions are clearly recorded.

Which countries adopted the gold standard and when did they do so?

The United Kingdom formally adopted the gold standard in 1821 followed by Canada in 1853 and Newfoundland in 1865. This standard formed the financial basis of the global economy from 1870 until 1914.

When did contemporary capitalist societies develop in the West after World War II?

Contemporary capitalist societies developed in the West from 1950 to present with relevant examples starting in the United States after the 1950s. France began its development after the 1960s while Spain started after the 1970s and Poland joined the system after 2015.