Homo Sapiens Vol IV
The concept of the word "capitalism" appeared in the middle of the eighteenth century. Capitalism is an economic-political system based on private property, a market economy, and entrepreneurship. The flourishing of international trade in Europe in the fifteenth century served the accumulation of capital and the rise of the bourgeois class. This, in turn, spurred the industrial revolution and the emergence of manufactories. Feudal agriculture became unprofitable; it was easier to lease land to those who raised livestock for sale. The peasants moved to cities where workers were required in factories. A class of lumpen emerged, urban proletarians working for hire and owning nothing.