capitalism


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Related to capitalism: socialism

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 ?
Amidst the conventional chatter of social spending countering markets gone wild--as if the only thing restraining rampant capitalism is the state--Wallerstein clearly identifies the state's role as enforcer of private cartels.
This is the funniest part: There is no such thing as corruption in crony capitalism.
The 2G scam was the classic example of crony capitalism, he added.
Capitalism is a free market structure that puts the power base into the hands of the consumer.
Shifting to an analysis of the modern economy, Chung offers a critique of capitalism in a global economic system, arguing that globalization is economic colonialism designed to maintain a status quo among nations with differing degrees of prosperity.
Going through a range of issues including material inequality, slavery, industrial reforms, and sweatshops, Cudd and Holmstrom grapple with the issue of whether capitalism and women's interests can coincide or whether they must always diverge.
It embraces a much broader definition of capitalism in the sense that it is not only a vehicle for job-creation, economic efficiency, and wealth creation but also a vehicle for meeting societal needs.
Then there is A J Hubble with his usual right wing views about why we should embrace capitalism rather than support the Government.
Mackey, the principal author of Conscious Capitalism, is co-founder and CEO of Whole Foods Market, and his experience there heavily influences the book.
The term capitalism gradually spread throughout the Western world in the 19th and 20th centuries largely through the writings of Karl Marx.
Praising capitalism and criticising the critics of capitalism, the author argues that morality is important for any economic system but we cannot blame capitalism for individuals' moralities.
Certainly he is right that for "the past 150 years, numerous Western intellectuals have trumpeted their contempt for capitalism and capitalists" (p.