What is Capitalism?

The term Capitalism is referred to as the economic system under which the production is privately acquired and organised in such a way to increase the profit within the market system. It has been considered to be a unique aspect because of its dynamism, global nature, its potential to grow, develop, and innovate, use of technology and labour in such a way to guarantee the greatest profit.

This type of system was invented when Europeans decided to explore the rest of the world, exploit its wealth and resources, to control its industries and agriculture and to make an exceptional growth of science and technology. That is why western colonialism was intricately connected to western capitalism and influenced colonised country like India in such a way that it had a permanent impact.