Abstract
This is an article containing various topics of capitalism. Here we can learn the features of capitalism. Besides the background of capitalism are presented here. Some philosophers who established this type of economy will be explained here. I presented some criticisms here also against this type of economy. How this kind of economy affect people and solutions which are obvious probable are also presented here.
Highlights
Capitalism, or the free market as it is often called, is a system of private ownership
It is an economy in which the companies, resources, materials, machinery, production are handled by the rich people who are referred to as the capitalists. It is one of the oldest economic systems and its origin is at the time of the mid-eighteenth century in England in the wake of the Industrial Revolution. It is that system, where means of production are owned by private individuals, profit is the main motive and there is no interference by the government in the economic activities of the economy
A free market is an idealized system in which the prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority
Summary
This is an article containing various topics of capitalism. We can learn the features of capitalism. Besides the background of capitalism are presented here. Some philosophers who established this type of economy will be explained here. I presented some criticisms here against this type of economy. How this kind of economy affect people and solutions which are obvious probable are presented here.
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