Capitalism is an economic system in which capital goods are owned, operated and traded by private individuals, businesses, or corporations for the purpose of profit. In a capitalist system, private control of these productive enterprises is protected by the rule of law. A capitalist political system protects the exchange and distribution of capital between legal or private persons, which is driven by competition and profit-maximization, and where investments, distribution, income, production and pricing of goods, commodities and services are predominantly determined through the operation of a market economy in which anyone can participate in supply and demand and form contracts with anyone else, rather than by central economic planning. Human labor power is for sale in the market as one of the many commodities.
In capitalist systems, goods and services, including those regarding the most basic necessities of life, are produced for profitable exchange. Capitalism is originally defined as a mode of production, where it is characterized by predominantly private ownership of the means of production, distribution and exchange in a mainly market economy. According to Marxist analysis, a core requirement of a capitalist society, is that a large portion of the population, must not possess sources of self-sustainment that would allow them to be independent, and must instead be compelled, in order to survive, to sell their labor for a living wage. Capitalism is usually considered to involve the right of individuals and businesses to trade, incorporate, and employ workers, in goods, services (including finance), labor and land. In modern "capitalist sta. es", legislative action is confined to defining and enforcing the basic rules of the market though the state may provide some public goods and infrastructure.
ElectionsMeter is not responsible for the content of the text. Please refer always to the author. Every text published on ElectionsMeter should include original name of the author and reference to the original source. Users are obliged to follow notice of copyright infringement. Please read carefully policy of the site.
If the text contains an error, incorrect information, you want to fix it, or even you would like to mange fully the content of the profile, please contact us. contact us..
socialism in iceland, capitalism socialism and now amartya sen, socialism popularity, capitalism details, "pool about capitalism", capitalism versus Union, socializm vs capitalism electionsmeter, capitalism and socialsm can be solved by socialism by how, socialism is inefficient, details of capitalism, why is socialism inefficient, rich people don\'t create wealth, Which place was the border of Socialism and Capitalism in the un, In a capitalist economy, the production and pricing of goods and services is determined through the and more...