2007-02-21 02:08:08 · 19 answers · asked by vasanthkurc 1 in Social Science ➔ Economics
The word capitalism is now quite commonly used to describe the social system in which we now live. It is also often assumed that it has existed, if not forever, then for most of human history. In fact, capitalism is a relatively new social system.1
But what exactly does 'capitalism' mean?
Class division,The profit motive,Capitalism = free market?
2007-02-25 19:45:36 · answer #1 · answered by jitesh kumar 3 · 2⤊ 0⤋
Read Das Capital Carl Marx.
2007-02-21 02:16:35 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Capitalism is the economic system that is based on the accumulation of capital. In a capitalist system, individual are allowed to amass capital (money, gold, or other exchangeable commodities). This capital can then be invested in different enterprises. Modern capitalism is also characterized by heavy investment in means of production and service industries. These in turn aim at producing more capital that can be reinvested in order to produce even more.
2007-02-21 02:36:25 · answer #3 · answered by Anonymous · 1⤊ 1⤋
Capitalism is another word for a free market economy - it is derived from the term "capital" which means the resources needed to make a product - they are money - to purchase the capital investments such as machines and the human capital or people with the knowledge to design and run the machines
2007-02-28 13:13:01 · answer #4 · answered by Craig F 3 · 2⤊ 0⤋
Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned. Under capitalism the state is separated from economics (production and trade), just like the state is separated from religion.
2007-02-22 17:02:35 · answer #5 · answered by Anonymous · 2⤊ 0⤋
Capitalism generally refers to an economic system in which the means of production are mostly privately owned and operated for profit, and in which distribution, production and pricing of goods and services are determined in a largely free market.
It is usually considered to involve the right of individuals and groups of individuals acting as "legal persons" or corporations to trade capital goods, labor and money (see finance and credit).
Theories of capitalism first developed in the context of the Industrial Revolution and the Cold War and were meant to explain, justify, or criticise the private ownership of capital; to explain the operation of capitalistic markets; and to guide the application or elimination of government regulation of property and markets.
Capitalist economic practices became institutionalized in Europe between the 16th and 19th centuries, although some features of capitalist organization existed in the ancient world.
The concept of capitalism has limited analytic value, given the great variety of historical cases over which it is applied, varying in time, geography, politics and culture.
2007-02-21 13:16:03 · answer #6 · answered by midas 2 · 0⤊ 0⤋
In short
Capitalism = Entrepreneurship
In long
http://en.wikipedia.org/wiki/Capitalism
2007-02-21 20:33:53 · answer #7 · answered by Anonymous · 1⤊ 1⤋
Capitalism is the economic system that equals wealth to the accumulation of capital, as opossed to earlier systems like the physiocrats (wealth was determined by land ownership) or the mercantilists (wealth was determined by the accumulation of gold).
2007-02-21 04:02:47 · answer #8 · answered by MSDC 4 · 0⤊ 0⤋
Where capital is the dominant factor of production!
2007-02-21 02:18:30 · answer #9 · answered by Sami V 7 · 0⤊ 1⤋
Capitalism means keeping everything for oneself . the rich will become richer and the poor ,poorer in capitalism.
2007-02-27 17:36:19 · answer #10 · answered by Raaj 1 · 2⤊ 2⤋