Understanding Capitalism: A Historical Perspective

What was a significant economic development in Ancient Babylon?

• The creation of stock markets

• The establishment of interest rates on loans

• The introduction of paper money

• The invention of the credit card

What event in 14th Century England led to better pay for serfs?

• The War of the Roses

• The Black Death

• The signing of the Magna Carta

• The Industrial Revolution

Which economic theory was spurred by the Industrial Revolution?

• Keynesian economics

• Laissez-faire economic theory

• Monetarism

• Marxism

What was Karl Marx's view on capitalism?

• It is the final stage of economic development

• It is the best system for wealth distribution

• It will collapse under its own contradictions

• It should be supported by government intervention

What major event in the early 21st century led to questions about capitalism?

• The introduction of the Euro

• The fall of the Berlin Wall

• The 2007-2008 financial crisis

• The dot-com bubble burst