capitalism


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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 ?
In fact, intolerance and religious bias is increasing again even in the West as capitalism starts to stagnate.
These are questions that can only be addressed by first understanding how capitalism works.
He notes that previous influential Marxist theorists, like Althusser and Gramsci, disregarded the relationship between capitalism and security and as such, there has been no radical theorization of security, with the consequence being that a social order based on continuous dispossession and exploitation has remained in place.
Mark Weinberger, EY Global Chairman and CEO, says, The Inclusive Capitalism movement recognizes that we need to act with a shared direction towards driving investments that create long-term value, not merely short term profits.
These include his explanation of rent, marginality, under-development, globalisation, under-consumption, nongovernmental organisations, European Union and Eurozone, social movements, and last but not the least his thoughts on capitalism.
To help friends or colleagues understand the basics of free markets and capitalism, I often recommend (and sometimes give away) two favorite works.
It is not an illusion that capitalism has transformed the material conditions of life in the world and enormously increased human productivity; many people have benefited from this.
In "American Capitalism at Sunset," Meckling and Gleason noted that there's "no good reason that the health of capitalism should be identified with the success of businessmen in tapping the political process," because free market capitalism and crony capitalism are not the same thing.
Through the years, in order to save capitalism from itself-as phrased by Kotler-this free enterprise concept has been given modifiers to its name.
One characteristic of capitalism often highlighted in the critique and the praise of capitalism does not fully belong to capitalism.
What was transferred was the organizational structure and the operational know-how that facilitated the rise of capitalism in Europe.