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 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.

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