Capitalism

Definitions

An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

An economic system characterized by private or corporate ownership of capital goods, investments that are determined by private decision, and prices, production, and the distribution of goods that are determined mainly by competition in a free market.

Examples

The rapid growth of global capitalism has significantly transformed international trade markets.

Critics often debate whether capitalism effectively addresses issues of wealth inequality in modern society.

Synonyms

Free market economy Private enterprise Laissez-faire system Market capitalism Commercialism

Antonyms

Socialism Communism Planned economy Collectivism Command economy