Tag Archives: personal profit

Capitalism


Capitalism

Capitalism is an economic system based on private ownership of the means of production, in which personal profit can be acquired through investment of capital and employment of labor. It stresses freedom of individual economic enterprise but does not presuppose a specific form of social or political organization. Government action has been and is required to curb its abuses, which have ranged from slavery to monopoly cartels and financial fraud. What is the “invisible hand”? More… Discuss