Is Capitalism a fundamentally Western concept or system, and if so, Essay

Is Capitalism a fundamentally Hesperian concept or system, and if so, how washstand we account for its spread and entrenchment in non-Western areas of the world - Essay ExampleThe reading of industrialization in West is alike considered as the organic growth of the capitalist thoughts and philosophy as capitalism presented an preference channel of achieving social good in a more comprehensive manner. The pace of industrialization thusly was considered as the epitome of capitalist edict and as such the do important of social and economic development achieved its highest status under the development of capitalism in Western countries.What is however, also critical to note that capitalism does not only restricted itself to the Western countries and as such it spread across the non- Western countries also. Since nineteenth Century, the process of colonialism as hygienic as well as rapid rise of imperialization as well as globalization ensured the rapid spread of capitalism in non -Western countries also. What started as a purely Western Phenomenon thus soon emerged in non- Western countries too due to various factors.Capitalism rose as a result of the rise in industrialization in 18th century which witnessed the British society turning from a feudal society to more capitalist society. Capitalism in its essence advocates the purpose of private property rights and indicates that in a society, means of production shall be privately owned for the outgo possible use. As such capitalism is not only an economic system but it also a social system which regulates the society in an entirely different manner. The basic elements of capitalism therefore include private ownership of the means of production, exchange of goods and services in the market for the sake of lettuce as well as determination of prices and wages by the market forces is basically constitute the main ingredients of the capitalism.(Morton,2005)What is however, critical to note that capitalism star ted in Western countries as a result of rapid acquirement of technological sophistication and industrialization however, it also