What we call capitalism did not fully emerge until the Renaissance in Europe during the 15th and 16th centuries.

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Capitalism as an economic system began to take shape in Europe during the Renaissance period, with the growth of trade, commerce, and banking. The emergence of capitalist practices like private ownership, production for profit, and wage labor became more pronounced during this period, making the Renaissance a crucial time for the development of capitalism.

What We Call Capitalism Did Not Fully Emerge Until the Renaissance