Capitalism is the most advanced economic system that has developed and evolved in the course of human history. Capitalism as an economic system began in Europe, especially Great Britain, but soon spread throughout the world, affecting the lives of many people.  Economic historians therefore, study this economic system to understand how it has developed over the centuries and the impact it has had on different nations of the world.  Of major interest are the historical periods through which it has developed and the character it assumed during each phase of transformation.  The fact that this economic system has come to be the most dominant in the world encourages economic historians to want to understand how that has come about, particularly the mechanisms that have been used to entrench the system in different parts of the world.