capitalism

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Related to free-enterprise: Free enterprise 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 ?
The difference is that under free-enterprise capitalism individuals reap the profits and decide how they will be used, while under socialism the state reaps the profits and determines how they will be used.
Even the name of Lee's production company, Forty Acres and a Mule Filmworks - an allusion to a still-born legislative proposal after the Civil War to give land and the means to cultivate it to each freed slave - acknowledges, however reluctantly (note the "pause" in Lee's assertion), the free-enterprise economy as that medium of empowerment most pragmatically instrumental to African-American culture.
Scuba diving is just one of the countless leisure activities that Americans can enjoy in their free time thanks to the free-enterprise system, and Lloyd Bailey is just one of countless entrepreneurs who have been able to make their living while enriching people's lives by providing them with goods and services they demand.
Allowing business to run at maximum efficiency is the key to the entire free-enterprise system, and everybody is running for cover.
Castro must realize that releasing the free-enterprise genie threatens the long-term survival of socialism.
It is probably safe to say that the majority of Americans accept the notion that ours is a free-enterprise economy, based on free-market capitalism.
This year, nearly 10,000 students statewide will participate and learn through Junior Achievement's business, economics and free-enterprise experiences in Alaska.
And it's one of the reasons why the Pacific Legal Foundation, a free-enterprise public-interest law firm, and the California Apartment Association, a landlord group, are taking rent control to court.
Lincoln championed a free-enterprise system partly because it provided the means by which people could advance their desires and opportunities.