Capitalism: Difference between revisions
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Merriam-Webster's Online dictionary defines capitalism as, "an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market." <ref> http://www.merriam-webster.com/dictionary/capitalism </ref> | Merriam-Webster's Online dictionary defines capitalism as, "an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market." <ref> http://www.merriam-webster.com/dictionary/capitalism </ref> Capitalism is one way to organize production and distribution. Also, capitalism has not always existed; it began in a definite period of history and in particular places. Capitalism by its very nature is changeful, even revolutionary: it uproots old ways of life and old production methods, causes massive population migrations. <ref> Barone, Charles. Class Lecture. Capitalism Shakes the World PowerPoint. </ref> | ||
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Revision as of 04:09, 13 May 2010
Merriam-Webster's Online dictionary defines capitalism as, "an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market." <ref> http://www.merriam-webster.com/dictionary/capitalism </ref> Capitalism is one way to organize production and distribution. Also, capitalism has not always existed; it began in a definite period of history and in particular places. Capitalism by its very nature is changeful, even revolutionary: it uproots old ways of life and old production methods, causes massive population migrations. <ref> Barone, Charles. Class Lecture. Capitalism Shakes the World PowerPoint. </ref>
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