Question

Impact of capitalism in 16th century on europian economy

Answer 1

Marx labeled this period the "pre-history of capitalism". In effect, feudalism began to lay some of the foundations necessary for the development of mercantilism, a precursor of capitalism. Feudalism was mostly confined to Europe and lasted from the medieval period through the sixteenth century.

Answer 2

Explanation:

Capitalist economies

This system uses the investment of money, or 'capital', to produce profits. It leads to a small upper class of people having the most wealth and the growth of large corporations. ... So the transatlantic slave trade and plantation wealth were the major causes of the growth of capitalism in Europe.