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The Nineteenth Century

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In nineteenth century, capitalism allowed increase in productivity and at the same time triggering social changes. They included the Napoleonic wars which sought to introduce a continental system that would make Europe to be economically self-governing. This would make the blockading power of the Royal Navy to be irrelevant. United Kingdom was well in the industrial revolution hence it resisted the agitation for peace which was called for by continental system calling for mercantile circles agitate for peace. The Napoleonic war encouraged growth of certain industries like the pig iron output that increased its output by three times. Another social change that came out in Britain was the growth of the banking system or finance and credit (Wallace, 1997). The growing importance of UK as the center of capitalism during this time, benefited from great degree where business world of Britain was open to foreigners who were talented. Some of them included Johann Baring from Bremen who became a very successful cloth merchant in Exeter.

In early nineteenth century, capitalism as financial phenomenon was becoming entangled with new manufacturing methods and in much emphasis on textiles. The textile industries in Britain shifted from relying on cotton from Africa and Asia during U.S. civil war. Capitalism and the idea of making profit were making the world a very small place. The trend of doing business with an aim of making profit continued for a very long time in both Britain and United States. Capitalism has influenced many people and it did not seem to end even with rising tensions between the private who were after making of the huge profits and the public. The capitalism was embraced by many merchants in nineteenth century who were making a lot of investment hence deep rooting the capitalism as the only way of trading in the society.

Capitalism was being seen by many as a factor which led to rise in democracy in those countries that practiced capitalism. It was also noted that capitalist states do not make war with one another and there is very little internal violence between them. Democracy that was in many countries like the Britain and United States increased significantly even among its partners. This made democracy to be associated with Capitalism (Thomas, 2008).

Capitalism in both United States and Britain took control of the whole trade field that it was not that easy to stop it. Merchants who were practicing capitalism, even under high campaign against it, in those countries to stop it came to succeed. It was not easy to stop capitalism as form of trade in society. This was mainly because; it had gotten very deep into the trade sectors. It is was not easy for merchants to abandon their way of trade which they were used to and which gave them a lot of money, to one that was after the welfare of the society. Many manufacturing industries in both Britain and United States had already been used to manufacture goods for the sake of making profits. This trend continued that way up to now where they are still continuing with the same kind of business for sake of making large profits. Banking sector which was giving out services in finance with the aim of making profit would have been unable to change that policy to provide services for the sake of people’s benefit. Socialist movements have tried to fight against the capitalism in Britain and United States but this has not been achieved yet up to now. In future, this capitalism will have to change in some of its aspects to allow for change to other factors of economy.

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