Although the continuous development of capitalism as a system dates only from the 16th century, antecedents of capitalist institutions existed in the ancient world, and flourishing pockets of capitalism were present during the laterEuropean Middle Ages.
From Spain and Portugal, mercantilism spread to the rest of Europe, which resumed its mercantile economic system by the 14th century. Over the next 500 years, mercantilism became what we now call capitalism. By the 19th century,capitalism was the dominant economic system in most of the world's established nations.
From Spain and Portugal, mercantilism spread to the rest of Europe, which resumed its mercantile economic system by the 14th century. Over the next 500 years, mercantilism became what we now call capitalism. By the 19th century,capitalism was the dominant economic system in most of the world's established nations.