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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. Capitalism is the system of of laissez faire.

Capitalism is an economic system whereby most of the means of production are in private (non-government) hands and the distribution of goods and services is largely governed by market forces.

 

In reality, all capitalistic economies are mixed economies, with large sectors in public hands and with the market system subject to rules and regulations imposed by the government.