Brief account of how capitalism in the modern world has affected how we do business in America.

Essay by yay12335University, Bachelor'sA+, January 2003

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Disclaimer: This is only a brief recounting of key events that have affected the way we conduct business in America throughout the last century. If I had gone in depth with any one subject, I may have written a novel.

Capitalism is one word no one takes for granted anymore. As early as the 18th century, forms of Capitalism have co-existed with other economic structures, such as democratic socialism. The idea of the common mans' desire to own and operate a business with as little government interaction as possible seemed only a dream. America has prevailed over the last century in showing the world just how real that idea is.

For centuries, landowners had the upper hand in the socio-political strata, allowing few people to achieve their rank and status. The belief that the more land a person owned determined the amount of respect he was due, was above all else.

Well, that was about to change drastically around the turn of the 19th century, when people like merchants and bankers would upset the delicate balance of ownership and prove whole-heartedly, that freedom in enterprise was a great concept. By the end of the Industrial Revolution, America (as well as many other countries around the world) had new and powerful tools at their disposal, machinery replaced manpower, electricity replaced oil, and steel became a dominant feature in all types of construction. In all, we were becoming much more efficient as a nation.

(1900-1920) In the early 1900's, the arena of business was a messy one. Most companies had little to no organizational structure and most employees were worked like slaves, while the workload greatly outweighed the pay. For years, people attempted to gather together and create unions, but in the end, the companies would resort to bully boy tactics to...