Tag: from capitalism to imperialism

Mercantilism refers to the economic policy wherein the trade and accumulation of goods were maximized by obtaining the cheap raw material from the colonies. The development of large scale factories in Europe during the Industrial Revolution required the raw material of cotton, jute etc. that lead to spread if mercantile capital.

Capitalism is an economic, social and political system where private individuals control a country's trade and business. The government has little or no control over the market. The United States is a capitalist country. Capitalism prioritizes individual rights, private ownership, and free enterprise.

The Penny Post is one of several postal systems in which normal letters could be sent for one penny. It was invented by Sir Rowland Hill was an English teacher, inventor, and social reformer. He was knighted by Queen Victoria for 'services to the Nation'.

Telegraph is the long-distance transmission of textual or symbolic messages without the physical exchange of an object bearing the message. It was invented by an American inventor Samuel Morse in 1844.

The first electric telegraph was invented by Samuel Morse in 1844. On May 24, 1844, he electrically transmitted his first message 'What hath God wrought?' from Washington to Baltimore.

The beginning of the Industrial Revolution in England primarily resulted from agricultural innovation. New farming techniques and improved livestock breeding led to amplified food production. This allowed a spike in population and increased health.

Improvements in navigational tools.

Abandon much of its food production in favor of expanding the production of textiles and cash crops.