capitalism

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Related to capitalist economy: communist economy, socialist 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 ?
This answer was only obliquely present in her work; but then, in her time, there was a generally under-developed understanding of the functioning of credit in a capitalist economy.
Velasquez, 1996: 202) Looking for the answer to this basic question of the capitalist economy, Velasquez appeals to the explanatory value of the "prisoner's dilemma", used in the contemporary theory of games, but also in the political theory.
Although Lange's central complaint against the contemporary capitalist economy is its microeconomic inefficiency owing to the breakdown of perfect competition (a static problem), writing as he did against the background of the Great Depression, he took it for granted that capitalism was also subject to the dynamic problem of long-term sub-optimal economic growth.
This begs the question whether it is possible for the capitalist economy to sustain its development based only on purely monetary methods or we should seek more insistently the role of the state.
In this new series Niall Ferguson travels through this vast country to ask how a fifth of humanity can live under a Communist system of government with a capitalist economy when according to all the laws of history it should fall apart.
We witnessed the jolt of the Communist economy and today we will definitely witness the shaking of the capitalist economy as well," Supreme Leader's Advisor for Military Affairs Major General Yahya Rahim Safavi said.
The PM accepted that the financial crisis and the slow recovery from recession had shaken public confidence in the capitalist economy.
He accepted that the financial crisis had shaken public confidence in the capitalist economy, but said: "We won't build a better economy by turning our back on the free market.
Meanwhile in seventeenth-century Britain, entrepreneurs were able "to bend political and social institutions to their demands," paving the way for the emergence of a capitalist economy in the eighteenth century that accelerated after the 1820s when "the age of steam" began (118).
deals a serious blow to those who hope that the present economic crisis will give way to a healed capitalist economy.
The problem is that in contrast with the postwar period, today's capitalist economy cannot offer the class compromises that underpinned the welfare state.
take subsidies out, it's a capitalist economy," he said.