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Capitalism - Coggle Diagram
Capitalism
nations that were capitalising in the early 1900s
Britain
France
USA
Russia
Germany
characteristics
'capital', or industry, is privately owned
can be democratic
free market
prices and production are dictated by competition between corporations and companies
people
benefits the business owners
wealthy make money off the poor
creates classes, e.g. Upper, Middle, Lower
WW1
US benefited from Capitalism throughout WW1
America was untouched by the war and profitable and seen as the way to go
history
developed from Feudalism
British systems of power (feudalism) collapsed after the Black Death in the 16th century