What is capitalism?

  • (noun): An economic system based on private ownership of capital.
    Synonyms: capitalist economy

Capitalism

Capitalism is an economic system that is based on private ownership of the means of production and the creation of goods or services for profit. Other elements central to capitalism include competitive markets and capital accumulation. There are multiple variants of capitalism, including laissez-faire, welfare capitalism and state capitalism. Capitalism is considered to have been applied in a variety of historical cases, varying in time, geography, politics, and culture. There is general agreement that capitalism became dominant in the Western world following the demise of feudalism. Competitive markets may also be found in market-based alternatives to capitalism such as market socialism and co-operative economics.

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Some articles on capitalism:

Lemon Socialism - Other Languages
... in the 1930s to criticize alleged crony capitalism in Landsbanki, which term has gained renewed currency in the debate over the 2008–2012 Icelandic financial crisis ... Lemon socialism, or more precisely crony capitalism, is also referred to as Pilsfaldakapítalismi, meaning "skirt capitalism", pilsfaldur being the hemline of the skirt, and the term referring to children ...
Advanced Capitalism
... In political philosophy, advanced capitalism is the situation that pertains in a society in which the capitalist model has been integrated and developed deeply and extensively and ... The expression advanced capitalism distinguishes such societies from the historical previous forms of capitalism, mercantilism and industrial capitalism, and partially overlaps with the concepts of a developed ... According to Habermas, a key feature of advanced-capitalism is "privatism", meaning "political abstinence combined with an orientation to career, leisure and consumption" as well as "family orientation" ...
Late-2000s Financial Crisis - Background - Systemic Crisis
... crisis is merely a symptom of another, deeper crisis, which is a systemic crisis of capitalism itself ... Ravi Batra's theory is that growing inequality of financial capitalism produces speculative bubbles that burst and result in depression and major political changes ... during 2005 that a series of unresolved challenges face capitalism that have contributed to past financial crises and have not been sufficiently addressed Echoing the ...
Claude E. Robinson - Study of American Capitalism
... made important contributions to the study of American capitalism ... — Center for the Study and Teaching of Principles of American Capitalism ...
Capitalism, Socialism And Democracy - See Also
... Capitalism Socialism Creativity techniques Disruptive technology. ...

Famous quotes containing the word capitalism:

    ... the greatest bulwark of capitalism is militarism.
    Emma Goldman (1869–1940)

    Fact is Our Lord knew all about the power of money: He gave capitalism a tiny niche in His scheme of things, He gave it a chance, He even provided a first instalment of funds. Can you beat that? It’s so magnificent. God despises nothing. After all, if the deal had come off, Judas would probably have endowed sanatoriums, hospitals, public libraries or laboratories.
    Georges Bernanos (1888–1948)

    I’m afraid for all those who’ll have the bread snatched from their mouths by these machines.... What business has science and capitalism got, bringing all these new inventions into the works, before society has produced a generation educated up to using them!
    Henrik Ibsen (1828–1906)