Capitalism is an economic system where the means of production, distribution, and exchange are privately owned and operated for profit, guided by the mechanisms of supply and demand within a competitive market. It centres on the principle that free markets, driven by individual choice and voluntary transactions, allocate resources efficiently.
The system relies on the protection of property rights, allowing individuals to pursue their own interests while competition naturally regulates the economy.
Unlike mercantilism or crony capitalism, which distort market dynamics through monopolistic practices or government intervention, true capitalism fosters innovation and wealth creation by maintaining open, competitive markets.
Capitalism is an economic system where the means of production, distribution, and exchange are privately owned and operated for profit, guided by the mechanisms of supply and demand within a competitive market. It centres on the principle that free markets, driven by individual choice and voluntary transactions, allocate resources efficiently.
The system relies on the protection of property rights, allowing individuals to pursue their own interests while competition naturally regulates the economy.
Unlike mercantilism or crony capitalism, which distort market dynamics through monopolistic practices or government intervention, true capitalism fosters innovation and wealth creation by maintaining open, competitive markets.
S. Tominaga AKA CSW
Sep 7, 2024