Modern day capitalism has its roots in the industrial revolution of the late 18th and early 19th centuries. The innovations of the industrial revolution were spurred by a profit motive and by capitalistic competition. Capitalists looking out for their own best interests were constantly seeking to find and implement new ideas that would give them an advantage over their competitors. Note that the very idea of business, especially the notion of a for-profit business that is operated to benefit its stakeholders, is a rather recent phenomenon in human history.
