Question

The two interpretations of economic history of the early modern period differ most strongly concerning

Answer 1

The correct answer to this open question is the following.

The two interpretations of the economic history of the early modern period differ most strongly concerning who must regulate the economy in the countries and the role of the government in regulating the market.

Here we are talking about the two modern interpretations of economic history: Capitalism and Socialism.

Capitalist established that it is the free market that defines the economy. This free enterprise system allows companies to freely compete to grow and prosper. In this economic system, the government has minimum intervention in the economy.

On the other hand, Socialism states that it is the workers who had the right to control the means of production. Karl Marx and Federick Engels are the two most important authors of Socialism.