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submitted 11 months ago by compostgoblin@slrpnk.net to c/memes@lemmy.ml

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[–] MothmanDelorian@lemmy.world -2 points 11 months ago (1 children)

And Europe was mired in mercantilist systems. The government gave business permission to exist in many cases.

America was the first to institute capitalism, Europeans cane up with the philosophy but America put it into practice.

[–] Cowbee@lemmy.ml 3 points 11 months ago

Mercantilism is not distinct from Capitalism, but a form of it.