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Capitalism and industrialization are two concepts that have been talked about and documented over a number of decades with details and examples borrowed from across the globe. These two concepts still have connections with each other in an intimate manner such that they appear to be influencing and infirming the direction of the other.
According to Corbridge S., (2018) capitalism is a political system where the industries and the trade of the country are controlled by private entrepreneurs in pursuit of profit and not by the state. Under capitalism, the prices, the production levels as well as the distribution of the goods is determined by the competition in a free market. On the other hand, industrialization is defined as the process of transformation of the economy from basic industrial one to one that is based on the manufacturing of goods.
Thesis statement
Capitalism and industrialization are concepts that are intimately related in many ways. The two concepts are known to be prevalent in the contemporary economy where the industrial mushrooming is deemed to be way better than the agricultural expansion. There will be efforts herein to clarify what tenets make up capitalist system and what extent of industries qualifies a country to be referred to as industrialized. Of greater importance here will then be the display of the various ways in which industrialization and capitalism are related, the shared historical background and the possible future of capitalism and industrialization. There will also be clarification of the differences that there are between capitalism and industrialization since the two have been used interchangeably in the past to the extent that people felt they are the same in meaning.
References
Corbridge S., (2018). Capitalism, Industrialization and Development. Retrieved April 22, 2018 from http://journals.sagepub.com/doi/pdf/10.1177/030913258601000103
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