5 years ago

Capitalism is an economic system based on private ownership of the means productions and their operation for profit.


Characteristics central to capitalism ownship include private property, capital accumulation, wage labor, voluntary exchange, a price system and competitive markets. In a capitalist market economy, decision-making and investments are determined by every owner of wealth, property of production ability in financial and capital markets, whereas prices and the distribution of goods and services markets. Economists, political economists, socioligsts and historians have addopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These includes laissez-faire or free-market capitalism, welfare capitalism and state capitalism



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