Development models of capitalism: past and present

Abstract

The development model of capitalism is one of the issues that have had a decisive impact on capitalism’s development process in the past and present. The historical development of capitalism from the sixteenth century to the present indicates the existence of different development models. Although each has its advantages and limitations, they are the foundation and driving force for the expansion of the world's leading economies. The diversity of capitalism’s development models depends on historical contexts and economic, social, political and cultural conditions of capitalist countries in different regions. The development models of capitalism also constantly evolve to adapt to the economic, political, and social changes of countries, regions, and the capitalist system. This article focuses on analyzing the following issues: (i) Approaches to studying the development models of capitalism; (ii) Historical and current development models of capitalism; (iii) Some remarks on the development models of capitalism.