Who developed the philosophy of capitalism?

Answer 1

No one "developed capitalism." It is an economic system that developed on its own from the earlier agrarian economies to the more industrialized economies. Many economists have analyzed it over time, but no one person developed it.

Answer 2

Capitalism was not so much introduced as it was an emergent phenomenon beginning some time in the 16th century during the commercial revolution, when the accumulation of capital and business enterprise were starting to become widespread. Historians and economists usually agree that capitalism was fully introduced by the early 18th century during the Industrial Revolution, which is when wage-based labor replaced fuedal labor and guild organization and production.

The economist Adam Smith wrote his famous book entitled "An Inquiry into the Causes and Wealth of Nations" in 1776 which championed free markets and criticized mercantilist policies. Adam Smith is generally credited to be the founder of modern economics and one of the first philosophers to advocate free market capitalism (but it should be noted that Adam Smith did not use the term "capitalism").

Answer 3

A book written and titled,"An Inquiry into the Wealth of Nations", was published in 1776. It was written by Adam Smith, an economic and political philosopher from Scotland. Smith was the first to systematically describe the workings of what is known today as the Stock Market. He did not invent Capitalism really , but he is known as "The Father of Capitalism" primarily because of his genius in being able to recognize and explain the market forces of supply and demand, competition and profit motive guiding and economic regulation.....and yes even speculation and all of the other evil (sion)shuns. The book he wrote was all about capitalism and he managed, in many respected market historians opinions, to describe it ,in quite accurate detail. And that really isn't quite doing the man or his book very much justice. The book was really a feat of a superior mind . I hope this answers your question.

Answer 4

people did and Karl Marx just coined the term.

Answer 5

The first major proponent of the free market and private company ownership in pursuit of personal profits was ADAM SMITH in his book, The Wealth of Nations.

Answer 6

adam smith (scottish philosopher)