Europe in the 19th Century
Capitalism is an economic system characterized by private ownership of the means of production and the creation of goods or services for profit in a competitive marketplace. This system promotes individual entrepreneurship and free market principles, allowing for technological advancements and economic growth. Capitalism played a pivotal role in transforming societies during the 19th century by driving industrialization, reshaping urban environments, and influencing the emergence of new ideologies regarding labor and social equity.
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