It changed not only industry, but also politics, religion, laws, and people's social interactions. In feudalism, wealth was tied to the land. Society was based on agriculture and 90% of the people worked the land. If someone owned land they were wealthy; the society was divided into two classes, landowners and non-landowners. In feudalism, wealth was inherited. Land was passed on when the landowner died to his descendants and therefore it was impossible for serfs to move up. .
Capitalism revolutionized the entire economic and societal structure. Wealth was linked to trade and production. For the first time, serfs had the ability to acquire some wealth because wealth was no longer based on lineage. Under this new system, owning a business became the major way to generate wealth, which created some opportunity for serfs that had a skill. Furthermore, land became a commodity that could be bought and sold. Previously, land did not change hands and the king could seize it at any time. In capitalism property was bought and sold and people could do with it whatever they wished. In feudalism profits were considered immoral, but under capitalism profits became the way to obtain a better life. Capitalism is the separation of the economy and the state. It is a social system based upon private ownership of the means of production, which entails a completely uncontrolled and unregulated economy where all land is privately owned. Capitalism has been described as the "a social harmony through the pursuit of self-interest." This is because those who promote capitalism, believe in that by leaving the state of the economy unregulated, and by each individual left in pursuit of his own self-interests, the economy will automatically adjust itself to achieve the maximization of economic utilities for society and consequently social welfare.
With capitalism, a fast growing social class known as the lower working class subsists based on a sole requirement; that they work for the owner of a producing business.