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Can someone briefly explain what Capitalism is, please?

I have searched on the internet, but it just goes over my head.

Can someone explain to me in a few sentences what Capitalism is, please? Much appreciated. Thank you!

Reply 1

DayneD89

The system we live in, where money rules. It has class divisions as some people get paid more than others. The means to production are owned by those with money.

Reply 2

SunOfABeach

Capitalism is simply an economic system whereby the means of production are privately owned - meaning, INDIVIDUALS own the means of production (land, resources, capital, labour) and what they produce (goods, services, capital*, labour*) is traded in a market.

That's it, I think.

*Capital & labour are still traded in the market even though the latter isn't technically "produced".

Reply 3

username196545

Belief in the free market.

Reply 4

Madjackismad

Conservative Party or Margaret Thatcher, whatever way you like to look at it.

Reply 5

tknight7

Capitalism is the economic system where people compete for resources (inc. money), as opposed to Communism where resourses are split equally among people

Reply 6

hooba

capatalism is the sytem that we live in. its unfair and ruthless. the upper and middle classes are those who majorly benefit from it whilst the working class dont seem to get much out of. is capital intensive, all about the money and all about those at the top. just take a look at the baking sytmem, the pigs. its kinda out of control but has some benefits i guess. its about ownership, unlike the communist states where there is no private ownership. so those who own stuff, are the ones that control it.