The capitalism we know and the enterprise of trade, wealth creation, risk of investment, import and export started in 13th century Italy. In the academic sense, usury is much older and a form of capitalism.
The first colonies started as socialist communities. At Plymouth, the Pilgrims setup a common store that worked as "From Each According To His Ability - To Each According To His Need. Every member of the colony had to place their harvests in the common store. They worked at this for two years. The Pilgrims almost did not make it through the winter. They starved in the winter and reduced rations. Governor Bradford laments the socialism he created:
The experience that was had in this commone course and condition, tired sundrie years, and that amongst godly and sober men, may well evince the vanitie of that conceite of Platos and other ancients, applauded by some of later times; --that the taking away of propertie, and bringing in communitie into a comone wealth would make them happy and florishing; as if they were wiser than God. For this comunitie (so farr as it was) was found to breed much confusion and discontente, and retard much imployment that would have been to their benefite and comforte. For the yong-men that were most able and fitte for labour and service did repine that they should spend their time and streingth to worke for other mens wives and children, with out any recompense. The strong, or man of parts, had no more in divission of victails and cloaths, than he that was weake and not able to doe a quarter the other could; this was thought injustice. The aged and graver men to be ranked and equalised in labours, and victuals, cloaths, etc., with the meaner and younger sorte, thought it some indignite and disrespect unto them. And for men's wives to be commanded to doe service for other men, as dresing their meate, washing their cloaths, etc., they deemed it a kind of slavery, neither could many husbands well brooke it.
The governor describes the meeting to address the problem:
All this while no supply was heard of, neither knew they when they might expecte any. So they [the pilgims] begane to thinke how they might raise as much corne as they could, and obtaine a beter crope than they had done, that they might not still thus languish in miserie. At length after much debate of things, the Gov. (with the advise of the cheefest amongest them) gave way that they should set downe every man for his owne perticuler, and in that regard trust to themselves... And so assigned to every family a parceel of land. This had very good success; for it made all hands very industrious, so as much more corne was planted than other waise would have bene by any means the Gov. or any other could use, and saved him a great deall of trouble, and gave farr better contente. The women now wente willingly into the feild, and tooke their litle-ons with them to set corne, which before would aledge weakness, and inabilitie; whom to have compelled would have bene thought great tiranie and opression.
During this meeting the American free enterprise and free markets were created:
By this time harvest was come, and instead of famine, now God gave them plentie, and the face of things was changed, to the rejoysing of the harts of many, for which they blessed God. And in the effect of their perticular planting was well seene, for all had, one way and other, pretty well to bring the year aboute, and some of the abler sorte and more industrious had to spare, and sell to others, 50 as any generall wante of famine hath not been amongest them since to this day.
