Economic Structures Throughout History

Adam Smith (pictured on the left) is credited with the creation of Capitalism and often called the "father of economics". He wrote the Wealth of Nations and discovered the relationship between products, markets, consumers, and producers. Smith believed that consumers would be motivated by self-interest which would drive a successful economy. Smith also believed in the theories of the  Invisible Hand and specialization of skills. He created the Labor Theory of Value, which focuses more on paying the laborers and what labor is necessary, rather than the products. In this theory, Smith defined value as "amount of labor necessary for production of a marketable economy." According to LTV, the labor determines the value of the good. In addition, Smith recognized that all labor resources do not effect product prices down the chain; only immediate labor does in cases such as assembly of a product.
Capitalism is defined as "an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state." (Webster Dictionary).  
At its core, capitalism is simply the pursuit of wealth.
Capitalism is a direct consequence, but also a direct outcome of colonialism, according to a study done by the socialist party of Great Britain, "Colonialism whether it was of the British, Belgian, French or German variety was not meant to be a benign enterprise. The motive behind its establishment was one: the exploitation of labour and the accumulation of economic surplus. Consequently, the driving force behind it, capitalism, did not spare the exploitation of labour in both the metropolis and other lands" (worldsocialism 3). 
As ethnocentrism was a core cause of colonialism, we end up seeing this idea perpetuated throughout capitalism in America.
The industrial Revolution paved the way towards capitalism, not only in America, but worldwide as well. Smith's economic ideas were well suited for the changing world, as, "It was becoming apparent that colonialism wasn't the gold mine that the European powers thought it would be. Fortunately, a new gold mine was found in the mechanization of industry. As technology leaped ahead and the factories no longer had to be built near waterways to function, industrialists began building in the cities where there were now thousands of people to supply ready labor." (Beattie 9).

Capitalism is a focus on long term economies. 

According to nuglobalstudies.wordpress.com, the author states, " Capitalism was a key perpetuating force of slavery in the US" by "allowing investors to invest their money without really knowing the ugly details of ow profits are obtained" (Burley). MORE EXAMPLES

In conclusion, WWII established the US as economic superpower, further promoting capitalism, during WWII the US, and especially Detroit was considered the Arsenal of Democracy, in turn tying capitalism directly into democracy.