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What impact did capitalism have on the 20th century?
What impact did capitalism have on the 21st century?
What impact did socialism have on the 20th century?
What impact did socialism have on the 21st century?
Examples and changes that may have happened as well would be greatly appreciated!
If you study what the words mean you will find that your question is nonsense. Karl Marx didn't invent the word 'capitalism', but he brought it into public awareness when he adopted it as a straw man so he could have something to compare his theories of socialism to. It has no actual meaning other than "the way we do things in the west". Some people assume it is a synonym for 'free market', but there certainly is nothing free about it.
In the west we run businesses on borrowed money. In economics, capital is defined as "tools of production". So when a company borrows money to buy tools, the bank calls that a "capital loan". Very quickly the word comes to mean any available funds.
Socialism is clearly defined as the ownership of tools of production by the people. Or by the state. Or something. Since tools of production are initially owned by individuals, socialism is based on robbery right from the start. No system based on robbery will last very long. Soviet Russia collapsed after 74 years, barely one average lifetime. In the USA, Oneida is the only commune that has lasted, mainly because of their silver business.
Speaking of 21st century, we are only a little over 17 years into it, so you are talking about current events.
