Understand Economic Transformations

Last updated 18 June 2020
Understand Economic Transformations

The economic transformations witnessed developments in which it relied on the financial and credit system, which stands behind the tremendous and significant human accomplishments witnessed in our current era, from building and financing projects, industries and markets, developing commercial and research societies, experiences, opportunities, investments and accelerating the money wheel under the misfortune of the giant economies, and this system is based on confidence in the future.

Economic Transformations

The feudal system to the capitalist system as it happened in European societies with the beginning of the industrial renaissance, and these are the changes that occurred in economic activities that are accompanied by social changes, there are those who consider it a shift in economic systems from a socialist system to a liberal system as happened to the countries of the eastern camp at the end of the eighties of the century The Past That is why Marx considered that human societies, in general, go through five basic stages:

  • Primitive Society
  • Slavery Society
  • Feudal Society
  • Capitalist Society
  • Socialist Society

Also read: Learn Social Market Economy Patterns

Features Associated with Economic Transformation

Industrial Development

In the invention of various types of engines, the emergence of major factories, the prosperity of some major industries, increased returns, and production, in addition to the high share of industrial exports.

Agriculture and its Development

 Machinery and fertilizers are used, and it depends on selecting good types of crops and livestock breeds, in addition to following the agricultural cycle.

External Exchanges

The foreign exchanges of capitalist countries have multiplied, as have the internal exchanges of the same countries as Bulgaria, the United States of America, Canada, Russia, Germany, and other capitalist countries.

Regulatory Factor

The classical liberal approach includes principles such as freedom of production and trade, in addition to the law of supply and demand, and the search for abundant profit. The capitalist has focused on two forms, horizontal and vertical.

Also read: Economic Feasibility Study for Small Projects

The Role of New Economists

Major construction companies (Trust, Holding), anonymous companies, and other new economists who have appeared in the world of economic transformations

Technical and Scientific Progress

Innovations: Multiple industries, agriculture, transportation, means of communication, information technology, medical science, and other modern technical and scientific innovations.

The Transportation Revolution

The rail network, the steamer was invented, regular marine lines were established, river and sea channels and airways were drilled, and land roads were paved.

Also read: The Mixed Economic System in a Comprehensive Sense

اقراء المقالة باللغة اخرى : العربية

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