Keep informed with totally free updates
Only signal up to the War in Ukraine myFT Digest — sent immediately to your inbox.
How did the term “capitalism” crop up? If you inquire most traders that question currently, they may possibly mutter about marketplaces, commerce and Adam Smith — or Karl Marx. But in accordance to Michael Sonenscher, a British historian, the time period essentially emerged very first in 18th-century Europe in connection with war finance.
“‘Capitalism’ began as a French phrase (capitalisme) but was made use of originally to refer to many largely British difficulties,” Sonenscher notes.