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What is Capitamlism?
Title: What is Capitamlism?
Category: Law & Government / Government & Politics
Details: Words: 354 | Pages: 1.5 (approximately 235 words/page)
What is Capitamlism?
Capitalism is an economic system based on private ownership of the means of production. Which personal profit can be gain through investment of capital and employment of labor. Capitalism is grounded in the concept of free enterprise, which argues that government involvement in the economy should be restricted and that a free market, based on supply and demand, will eventually maximize consumer welfare.
Capitalism has existed in a limited form in the economies of all …showed first 75 words of 354 total…
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…showed last 75 words of 354 total…interest rates; these countries reject the idea of letting the market completely determine the economy. The collapse of the Soviet Union and its satellite states in Eastern Europe (1989–1991) left those countries with a heavy drain and an uncertain future, and represented a large move back in the power of capitalism's traditional economic opponent, socialism. Also uncertain is the future course of China's economy, in which small-scale capitalism is increasingly allowed within a Communist political support.
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