Difference between revisions of "Capitalism"
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| − | '''Capitalism''', also called '''free market economy''' is an economic system where the investment of capital | + | '''Capitalism''', also called '''free market economy''' is an economic system where private citizens are free to make decisions about the investment of capital. Decisions regarding transfer of money, goods (including capital goods), and services are mostly voluntary instead of determined by government (as in a [[planned economy]]) . |
Since the fall of [[communism]], and the advent of information technology, capitalism is becoming increasingly popular. | Since the fall of [[communism]], and the advent of information technology, capitalism is becoming increasingly popular. | ||
| − | Critics of capitalism, most famously [[Germany|German]] [[philosophy|philosopher]] [[Karl Marx]], have claimed that the system is dehumanizing to the working class and poor. | + | Critics of capitalism, most famously [[Germany|German]] [[philosophy|philosopher]] [[Karl Marx]], have claimed that the system is dehumanizing to the working class and poor. "The rich get richer and the poor get poorer". |
==External links== | ==External links== | ||
Revision as of 09:18, April 28, 2007
Capitalism, also called free market economy is an economic system where private citizens are free to make decisions about the investment of capital. Decisions regarding transfer of money, goods (including capital goods), and services are mostly voluntary instead of determined by government (as in a planned economy) .
Since the fall of communism, and the advent of information technology, capitalism is becoming increasingly popular.
Critics of capitalism, most famously German philosopher Karl Marx, have claimed that the system is dehumanizing to the working class and poor. "The rich get richer and the poor get poorer".