Difference between revisions of "Capitalism"

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'''Capitalism''', also called '''free market economy''' is an economic system based upon private enterprise and where investments, production, distribution, income, and prices are determined through the operation of a a market where all decisions regarding transfer of money, goods (including capital goods), and services are voluntary rather than regulated and mandated by government.
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'''Capitalism''', also called '''free market economy''' is an economic system based upon private enterprise and where investments, production, distribution, income, and prices are determined through the operation of a market.  Decisions regarding transfer of money, goods (including capital goods), and services are generally voluntary rather than regulated and mandated by government.
  
 
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.

Revision as of 23:54, 13 April 2007

Capitalism, also called free market economy is an economic system based upon private enterprise and where investments, production, distribution, income, and prices are determined through the operation of a market. Decisions regarding transfer of money, goods (including capital goods), and services are generally voluntary rather than regulated and mandated by government.

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 argued that the system is dehumanizing to the working class and poor.

External links