Capitalism is an economic system based on the private ownership of the means of production and its use for the purpose of obtaining profit.[1][2] This socioeconomic system has developed historically in several stages and is defined by a number of constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth.[3][4] Capitalist economies may experience business cycles of economic expansion followed by recessions.[5]
capitalism (countable and uncountable, plural capitalisms)
.1. (politics, economics) A socio-economic system based on private ownership of resources, and capital and their exploitation for profit.
.1. (Marxism) An economic system based on private control of the means of production and the exploitation of labour by capital.
.2. (economic liberalism) An economic system based on private property and the abstraction of resources into the form of privately owned capital, with economic decisions made largely through the operation of a market unregulated by the state.
To be fair most old people clutch their pearls when you say radical things like “capitalism is the problem”… so yeah. They’ve ruined a lot of shit.
Please define capitalism.
I can use wikipedia. I suggest you learn how.
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