The two major factors that contributed to the development of capitalism were

The two major factors that contributed to the development of capitalism were the theory of individual rights and the Industrial Revolution in Britain. The theory of individual rights emphasized the importance of individual freedom, including the right to own property and to engage in economic activity without interference from the state or other individuals. The Industrial Revolution, which began in Britain in the 18th century, transformed the economy by introducing new technologies and methods of production, leading to increased efficiency and productivity. This allowed for the growth of large-scale factories and industries, and created new opportunities for entrepreneurs and investors to accumulate wealth. These factors, combined with the emergence of new financial institutions and innovations, such as joint stock companies and paper money, laid the foundation for the development of modern capitalism as we know it today.