| Summary: | It may appear highly presumptuous to attempt to present in a single paper the picture of 20th century capitalism. My only justification is that I have devoted more than half a century to analyzing capitalism.Although less was know out the world at the beginning of the 20th century, it seemed bigger than it does today. Little or almost nothing was known about large territories of the globe: the whole of central Africa and South America, West China, the Arctic and Antarctica. The population of the globe was only one half its present size. On the other hand, the world seemed larger because information travelled slowly and travel required a great deal of time. The distance between MOEiCOW and New York can at present be covered in 10 hours, whereas formerly this required 12 days and more.
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