2007-11-20 04:04:15 · 7 answers · asked by Anonymous in Social Science ➔ Economics
Capitalism is a system where businesses and organisations providing goods and services can be owned by people other than the Government. I think what you are referring to is free-market economics, or 'laissez-faire', literally meaning "let do".
The philosophy behind laissez-faire economics is freedom, to be able to engage in activities without government intervention. The state should only interfer when liberty and justice are at stake. This philosophy advocates the following: taxes should be kept low; transfer payments and subsidies should be kept low; there should be free trade; and there should be minimal government interference in general.
Laissez-faire is economic libertarianism, though it is also strongly opposed to the state interfering with the personal affairs of the individual (eg. smokers wanting to smoke should not be discouraged from smoking).
It's a powerful philosophy, but not one without its flaws. All economists know market failure exists afterall.
2007-11-21 01:42:54 · answer #1 · answered by SeriousCat ^-.-^ 4 · 0⤊ 0⤋
The capitalism is a economic system based on capital. It does not have philosophy, just it is a system. But there is philosophies that are agree with to this economic system. The capitalism does not come from the mind of one philosopher, it comes from the development of history and the increase of commerce in the world.
In the case of communism is a little different: the Hegelians propose its philosophy in XVIII century and design a tool to study the world. Marx took this tools and used it to explain the social phenomena of beginning of XIX century, creating the Marxism and the the communist used the Marxism to sustain its political and economical system.
The positivism and all the philosophies that are agree to the individualism, naturalism, competence, etc; maybe used like support to capitalism
2007-11-20 04:20:39 · answer #2 · answered by CSI - Economics 4 · 0⤊ 1⤋
Capitalism is a system where the government does not intervene in the financial affairs of the citizens.
2007-11-20 08:46:27 · answer #3 · answered by Jomtien C 4 · 0⤊ 0⤋
Somebody buys (or takes) your cow and then sells you the milk and butter you used to get for free.
2007-11-20 04:23:06 · answer #4 · answered by SainTtothEeVE 4 · 0⤊ 1⤋
Work = Reward
2007-11-20 04:11:43 · answer #5 · answered by Anonymous · 0⤊ 1⤋
get all u can & damm everybody else .
2007-11-20 04:08:30 · answer #6 · answered by robert c 3 · 1⤊ 1⤋
Please read "The Wealth of Nations" by Adam Smith.
2007-11-20 07:39:16 · answer #7 · answered by Illini 4 · 0⤊ 1⤋