- Capitalism in the twentieth century
Capitalism in the twentieth century changed substantially from its 19th century origins, but remained in place and by the end of the century was established as the world's most prevalent economic model, after the collapse of the
Several major challenges to capitalism appeared in the early part of the twentieth century. The Russian revolution in 1917 established the first communist state in the world; a decade later, the
Great Depressiontriggered increasing criticism of the existing capitalist system. One response to this crisis was a turn to fascism, an ideology which advocated state-influenced capitalism; another response was rejection of capitalism altogether in favor of communist or socialist ideologies.
In the years after
World War II, capitalism was moderated and regulated in several ways. Keynesianeconomics became a widely accepted method of government regulation; meanwhile, countries such as the United Kingdomexperimented with mixed economiesin which the state owned and operated certain major industries.
Other aspects of twentieth century capitalism include the rise of financial markets, quantitative analysis of market trends, and the increasing
globalizationof production and consumption.
Capitalism in the nineteenth century
Capitalism in the twenty-first century
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