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Capitalism is based on the accumulation of capital, whereby financial capital is invested in order to make a profit and then reinvested into further production in a continuous process of accumulation. In Marxian economic theory, this dynamic is called the law of value.
May 8, 2024 · Understanding Capitalism. Capitalism is one type of system of economic production and resource distribution. Instead of planning economic decisions through centralized political methods, as...
Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society.
The Editors of Encyclopaedia Britannica. Capitalism is a widely adopted economic system in which there is private ownership of the means of production. Modern capitalist systems usually include a market-oriented economy, in which the production and pricing of goods, as well as the income of individuals, are dictated to a greater extent by ...
Add to word list. Add to word list. C2. an economic and political system in which property, business, and industry are controlled by private owners rather than by the state, with the purpose of making a profit: The former communist embraced capitalism and started his own company.
