Industrial Capitalism

Definition

Industrial capitalism refers to an economic system based on industrial production or manufacturing. It emerged during the Industrial Revolution when capitalists were involved in producing and selling goods using mechanized industry.

Related terms

Laissez-faire: An economic theory that advocates for minimal government intervention in business affairs beyond what's necessary to maintain peace and property rights.

Industrial Revolution: A period of major industrialization that took place during the late 1700s and early 1800s. It began in Great Britain and later spread throughout other parts of the world.

Entrepreneurship: The activity of setting up a business or businesses, taking on financial risks in the hope of profit.