capitalism

5 ENTRIES FOUND:

cap·i·tal·ism

noun \ˈka-pə-tə-ˌliz-əm, ˈkap-tə-, British also kə-ˈpi-tə-\

: a way of organizing an economy so that the things that are used to make and transport products (such as land, oil, factories, ships, etc.) are owned by individual people and companies rather than by the government

Full Definition of CAPITALISM

:  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

Examples of CAPITALISM

  1. Capitalism is at once far too rational, trusting in nothing that it cannot weigh and measure, and far too little as well, accumulating wealth as an end in itself. —Terry Eagleton, Harper's, March 2005

Origin of CAPITALISM

(see 3capital)
First Known Use: 1826

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

Rhymes with CAPITALISM

absenteeism, absolutism, abstractionism, adventurism, aestheticism, Afrocentrism, agnosticism, alcoholism, amateurism, anabaptism, anachronism, Anglicanism, animalism, antagonism, Arianism, astigmatism, athleticism, automatism, behaviorism, Big Brotherism, bilingualism, Bonapartism, cannibalism, Cartesianism, Catholicism, charlatanism, collectivism, commercialism, communalism, Confucianism, conservatism, constructivism, consumerism, corporatism, creationism, determinism, do-nothingism, eclecticism, ecotourism, ecumenism, egocentrism, empiricism, epicurism, eroticism, essentialism, ethnocentrism, evangelism, exoticism, expansionism, expressionism, Fabianism, factionalism, fanaticism, favoritism, federalism, Fenianism, feuilletonism, Fourierism, fraternalism, Freudianism, funambulism, functionalism, hermeticism, Hispanicism, historicism, hooliganism, illiberalism, illusionism, impressionism, infantilism, inflationism, initialism, insularism, irredentism, Jacobinism, Keynesianism, know-nothingism, lesbianism, liberalism, libertinism, literalism, Lutheranism, Lysenkoism, magic realism, malapropism, mercantilism, messianism, metabolism, metamorphism, militarism, minimalism, monasticism, monotheism, mutualism, naturalism, Naziritism, negativism, neologism, neo-Nazism, neorealism, nominalism, nonconformism, objectivism, obscurantism, obstructionism, opportunism, pacificism, parallelism, pastoralism, paternalism, patriotism, Peeping Tomism, perfectionism, photo-realism, plebeianism, polytheism, positivism, postmodernism, primitivism, progressivism, protectionism, Protestantism, provincialism, puritanism, radicalism, rationalism, recidivism, reductionism, regionalism, relativism, revisionism, revivalism, ritualism, romanticism, salvationism, sansculottism, scholasticism, sectionalism, secularism, separatism, serialism, Slavophilism, somnambulism, Stakhanovism, structuralism, subjectivism, teetotalism, theocentrism, triumphalism, Uncle Tomism, ventriloquism, vigilantism, workaholism

capitalism

noun    (Concise Encyclopedia)

Economic system in which most of the means of production are privately owned, and production is guided and income distributed largely through the operation of markets. Capitalism has been dominant in the Western world since the end of mercantilism. It was fostered by the Reformation, which sanctioned hard work and frugality, and by the rise of industry during the Industrial Revolution, especially the English textile industry (16th–18th centuries). Unlike earlier systems, capitalism used the excess of production over consumption to enlarge productive capacity rather than investing it in economically unproductive enterprises such as palaces or cathedrals. The strong national states of the mercantilist era provided the social conditions, such as uniform monetary systems and legal codes, necessary for the rise of capitalism. The ideology of classical capitalism was expressed in Adam Smith's Wealth of Nations (1776), and Smith's free-market theories were widely adopted in the 19th century. In the 20th century the Great Depression effectively ended laissez-faire economics in most countries, but the demise of the state-run command economies of eastern Europe and the former Soviet Union (see communism) and the adoption of some free-market principles in China left capitalism unrivaled (if not untroubled) by the beginning of the 21st century.

Variants of CAPITALISM

capitalism or free-market economy or free-enterprise system

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