capitalism

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Related to Free-enterprise system: Free enterprise economy

Capitalism

The economic system in which the means of production is privately held. In capitalism, the most important means of production is money rather than land (as in feudalism) or labor (as in socialism). That is, the ability to raise and use money for the production of goods and services is more important than owning the land from which goods come, or the ability to work in order to create a good or service. As a result, government policies generally target the regulation (or not) of money and its uses rather than those of property and/or labor. While capitalism is often associated with laissez-faire policies, governments often involve themselves in capitalist countries. The appropriate amount of government intervention in a capitalist system remains hotly debated.

capitalism

see PRIVATE-ENTERPRISE ECONOMY
References in periodicals archive ?
He understands the crucial role of America's free-enterprise system in the success of his business.
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That tenet of market economics, of American society, and of the free-enterprise system has won acceptance all over the world including the former Soviet bloc - everywhere, it seems, except here in fantasy land.
The National Investment Banking Association (NIBA) was organized in June 1994 as a national association of regional and independent broker-dealer and investment banking firms seeking to improve conditions in their industry, to strengthen the free-enterprise system, and to provide a vital source of information and education to its members and the investing public.
Competition has been a key to the success of the American free-enterprise system, and based on what we've seen so far, it would be hard to disagree with keeping it as a part of the state education system, too.
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