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this post was submitted on 09 Jan 2025
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Capitalism was first instituted by the first Liberal nation- the USA. Europe was mostly mercantilist
No, the mode of production creates the ideology, not the opposite.
And Europe was mired in mercantilist systems. The government gave business permission to exist in many cases.
America was the first to institute capitalism, Europeans cane up with the philosophy but America put it into practice.
Mercantilism is not distinct from Capitalism, but a form of it.