Capitalism begins as commodity capitalism in the 13th c. as crusading armies from northern Europe converged on Venice to depart for Palestine. Great wealth accumulated for the merchants of Venice. Both feudalism, slavery and tribal communalism were thus forever doomed. The Advantages of Capitalism. Capitalism is the most innovative system so far developed.
Capitalism is the most flexible system yet created by humans.
Capitalism requires an ever-improving knowledge system. The Structure of the Global Political Economy in 1996. It is very important to a structural analysis of social problems to locate the major driving forces of human prosperity and human despair. Now what happens in Tokyo and Hong Kong affects crime rates in Omaha and Orlando. There are some 1000 Transnational corporations which run the global political economy.