What Is The Difference Between Socialism And Communism

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rinciples of capitalism, Karl Marx introduced the term. Marx’s system of capitalism involved the relation of individuals to the means of production of material goods and services.
The development of Capitalism was gradual, however, became more apparent in the 18th century. The Industrial Revolution of 18th century Europe was the most influential transformation, which above all changed human labour, consumption, and social structure. The industrial revolution was drove by social changes as Europe moved from an agricultural based economy to a capitalist urban one. The vast increase in the market of European goods helped drive the adaptation to an industrial, manufacturing economy.
The immediate consequences of the industrial revolution was first the lower prices of industrial products brought about by machine labour that destroyed the old system of manufacture based on hand labour. In countries where before industry had been based on manufacture were violently forced out of their isolation. They bought the cheaper commodities of the Engli...