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[[Image:Tokyo Stock Exchange.jpg|thumb|Tokyo Stock Exchange]]

[[Image:Tokyo Stock Exchange.jpg|thumb|Tokyo Stock Exchange]]

'''Capitalism''', also called a '''free market economy''' is an economic system where the investment of capital, and production, distribution, income, and prices are determined not by government (as in [[socialism]]) but through the operation of a competitive market where decisions regarding transfer of money, goods (including capital goods), and services are voluntary and private rather than regulated and mandated by government (see [[law of supply and demand]]).

'''Capitalism''', also called a '''free market economy''' is an economic system based on private ownership and entrepreneurship. The investment of capital, and production, distribution, income, and prices are determined not by government (as in [[socialism]]) but through the operation of a competitive market where decisions are voluntary and private rather than regulated and mandated by government (see [[law of supply and demand]]).

==Overview==

==Overview==

Historically, capitalism has fostered freedom and an increase in the standard of living and human rights, and vice versa.  Societies that have tried non-capitalist systems inevitably fall into tyranny.

Historically, capitalism has fostered freedom and an increase in the standard of living and human rights, and vice versa.  Societies that have tried non-capitalist systems inevitably fall into tyranny.

For example, [[Venezuela]], while not a perfect country before [[Hugo Chavez]], had freedom and wealth unprecedented in its history.  As Chavez has nationalized industries, he has also centralized power for himself, becoming a dictator. The [[Soviet Union]] eventually fell under the rule of [[Joseph Stalin]], who killed millions and is considered by many the worst dictator in history.

For example, [[Venezuela]], while not a perfect country before [[Hugo Chavez]], had freedom and wealth unprecedented in its history.  As Chavez has nationalized industries, he has also centralized power for himself, becoming a dictator.  

Capitalist societies also generally have higher standards of living compared to their non-capitalist counterparts in terms of per capita GDP, education, healthcare, and poverty rates. [[China]], for instance, has been growing extremely prosperous since it began opening its economy to the world.

Capitalist societies also generally have higher standards of living compared to their non-capitalist counterparts in terms of per capita GDP, education, healthcare, and poverty rates. [[China]], for instance, has been growing extremely prosperous since it began opening its economy to capitalism in the 1980s.

== Quotes ==

== Quotes ==

(cf: [http://www.americansolutions.com/General/?Page=026a3bda-755c-45d8-84d3-c68eef294612 Values - Free Enterprise])

(cf: [http://www.americansolutions.com/General/?Page=026a3bda-755c-45d8-84d3-c68eef294612 Values - Free Enterprise])

"The only real cure for poverty is production". [[Henry Hazlitt]], from ''Man vs. the [[Welfare]] State''.

"The only real cure for poverty is production". [[Henry Hazlitt]], from ''Man vs. the Welfare State''.

== See also ==

== See also ==

*[[planned economy]]

*[[planned economy]]

*[[Socialism]]

*[[Socialism]]

*[[Welfare]]

*[[Welfare State]]

==External links==

==External links==

[[Category:Economics]]

[[Category:Economics]]

[[Category:Libertarianism]]

[[Category:Libertarianism]]