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 ?
While it is true that some government science projects, such as satellite development, have yielded unlooked-for bonanzas to the private sector, much of the space program has been a colossal waste of public funds because, compared with private enterprise, few incentives exist in the public sector for thrift, careful planning, ingenuity and sound decision-making.
But that does not mean we're necessarily against private enterprise.
However, private enterprise has managed to explode into a crucially important sector within the socialist economy -- and that growth will now accelerate as discriminatory legislation is unwound and more capital becomes available.
The commission would require nonprofits to prepare "competitive impact statements" (basically cost analyses) and requests for proposals from private enterprise for current and proposed activities.
In his conclusions the author formalizes his findings, arguing that since some kind of private enterprise is inevitable in Soviet-type economies, the policies of East German authorities are most appropriate.
The session will detail how mainframe migration services and software from HP and Clerity help organizations add legacy applications and data to the private enterprise cloud, maximizing benefits of this innovative computing model.
Private enterprise hardly has a good track record when it comes to safeguarding workers' pensions and any outside investor in Royal Mail will expect the Government still to guarantee the fund.
Under Republican leadership, they pushed through the necessary bond issues to buy out the utilities and to create the city's own Department of Water and Power, providing householder and business alike with reliable, cheap and efficient service that private enterprise had been unable to deliver.
From January 1993 to 1994, he served as Vice President of The Edison Project, a private enterprise which manages public schools.

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