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 ?
Junior Achievement is comprised of passionate people, inspiring kids to learn the economics of life through free-enterprise education.
The United States wishes to export democracy, free-enterprise and a fundamental concern for human rights best expressed in our Declaration of Independence.
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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.