what is capitalism
http://www.answers.com/capitalism
http://en.wikipedia.org/wiki/Capitalism
it is an economic system where anyone can do and control their own business. the opposite would be communism where the government controls it
Capitalism is an economic system characterized by private ownership of property and the means of production, where individuals, rather than the state, own and control resources and businesses. In a capitalist system, goods and services are produced for profit in a market-driven economy.
To better understand capitalism, it is often useful to break down the term. Let's examine the components:
1. Private ownership: Capitalism emphasizes individual ownership of property, including businesses, factories, and land. This allows individuals to pursue their own interests and gain profit from their ventures.
2. Means of production: This refers to the resources, tools, and infrastructure necessary for the production of goods and services. In a capitalist system, these are privately owned, allowing individuals or entities to control the production process.
3. Market-driven economy: Capitalism relies on a system of supply and demand, where prices and production are determined by market forces rather than government intervention. This allows businesses and consumers to engage freely in buying and selling, with competition driving innovation and efficiency.
To understand how capitalism operates, one can explore its origins and key thinkers, such as Adam Smith and his book "The Wealth of Nations." Additionally, studying historical examples of capitalist economies, such as the United States or Western Europe, can provide real-life context.