Why does the history of empire and capitalism matter
The term empire is usually described as an entity or state which has powerful politico military command of populace that is culturally and ethnically diverse from the imperial (dominating) ethnic cluster, and the state culture differing that of a federation, is that of a voluntarily tranquil sovereign extensive state and people. Capitalism in the other hand which is all over due to the advancement of technology, is defined as the social system which relies and recognizes property and individual rights and that encompasses that all property are privately owned (Shigeru, 2002). Under capitalism the empire is distinct from economics as it is distinct from religion. Thus capitalism is also exemplified as Laissez faire system and political freedom system. This essay is going to elucidate on the importance of history of empire and capitalism, and also why this history does matter.
Understanding the History of Empire and Capitalism
The history of the formulation of capitalism is that it is a theme which was coined between 13th and 16th century. The main role of capitalism just like it is at the moment was to basically use wealth to accumulate more wealth. This is mainly achieved by those who are wealthy to accumulate their wealth because they are advantaged for having resources to mobilize more activities with an aim of being even wealthier. According to Fulcher (2004) the earliest documented capitalism event are recorded in Europe. This he further coins that the Dutch were the first to practice this kind of revenue generating stance. The Dutch are believed to in order to create a lump some of profit, they would create artificial goods shortage and then drive the prices high. Also in order to mitigate competition they would flood the competitors market. Capitalism usually is integrated with empire where states loan other states money for n interest. This is because historically capitalism entitles investing of money to a certain project for a return share of profit.
For capitalism to be fully functional then there was need to embark on recruiting other empires to achieve its mandate, then this where empire chips in for the formulation of strong foundation of resources accumulation. Laxer (2004) notes that the European empires would from accord and lend to other smaller faction for a profit in return. The European nation which were first to execute this kind of trade developed in a very fast rate. Italy and Dutch in the early medieval times of the 14th century experienced immense growth from capitalism and formulation of powerful banking and economic empires. Western imperialism would later develop into feuds which resulted to the First World War as capitalism escalated and through this exploitation begun.
What the History Represents about Today
In today’s world the history Capitalism Empire has been formulated and thus development has led to international market expansion. Capitalism in present time has element of historical empire and capitalism according to the way trade is being conducted world wide. However the only different is the limited scale markets which are a bit distinct. Through these markets conniving individuals are able to manipulate the market and make a quick fortune. However, capitalism and imperialism is rampant and these have only amounted to increase of this element in scale (Fulcher, 2004). Formulation of joint stock corporations and establishment of multi million empires are rampant and this although assumed as industrial revolution is the element of empire and capitalism history advancement in present time.
Capitalism is still evident today especially by the wealthy and developed countries use their financial muscles to dictate on economic issues of developing countries. They formulate policies which ensure that they accumulate wealth as those countries which are developing continue to be poorer.
The Role of Empire and Capitalism in Today’s Society
The new advanced global elements of sovereignty are what analyst has been exemplifying as empire. However, many factions articulate that empire has long being abolished after majority of the ally’s European nation dissolved and parted ways. However, the U.S as a super power and European nation are also other aspects which resolve to imperialism not being done with. The imperialism of some of the powerful states usually resolves to make the world a better place through provision of fiscal alms and protection from terror attacks as echoed by Laxer (2004). The global market has also advanced and this advancement has improved the living condition and health of the community in every aspects.
Today society is benefiting from both historical element of empire and capitalism, this is because many of the struggles and movements experienced in the 1960s are no longer present. Presently the only struggle experienced is that of socialism which is considered old form of capitalism and imperialism. However, new form of imperialism which is articulated to be globalization is the only form of struggle that current market and society are being exposed to as exemplified by Shigeru (2002).
Historically imperialism and capitalism played a major part in shaping the future of the present society. Although this created loopholes for scrupulous empires and entity to manipulate the market to make quick fortune the result that arise from these development are rewarding. Capitalism is essential for the mitigation of global and financial crunch which is generally experienced by many nations during recession or natural crisis. The society in return stands to benefit from this attributes as the community is the end user of the development and advancement which are accounted from capitalism.