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This is an accepted version of this page This is the latest accepted revision, reviewed on 9 March 2025. Economic system based on private ownership This article is about an economic system. For other uses, see Capitalism (disambiguation). "Capitalist" redirects here. For other uses, see Capitalist (disambiguation). Part of a series on Capitalism Concepts Austerity Business Business cycle ...
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. It is characterized by private property , capital accumulation , competitive markets , commodification , wage labor , and an emphasis on innovation and economic growth .
[5] [6] The author identifies three characteristics of capitalism as a religion. First, capitalism is a "pure religion of the cult," probably the most radical religion that has ever existed. Every element of the cult makes sense only in direct relation to the cult; utilitarianism takes on a religious connotation. [7]
A closely related name for laissez-faire capitalism is that of raw, pure, or unrestrained capitalism, which refers to capitalism free of any regulations, [65] with low or minimal [66] government and operating almost entirely on the profit motive. It shares a similar economic conception with anarcho-capitalism.
Anglo-Saxon capitalism is the form of capitalism predominant in Anglophone countries and typified by the economy of the United States. It is contrasted with European models of capitalism such as the continental social market model and the Nordic model. Anglo-Saxon capitalism refers to a macroeconomic policy regime and capital market structure ...
This category is for articles relating to capitalism, an economic system based on the private ownership of the means of production and their operation for profit.Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.
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In 1916, Lenin wrote Imperialism, the Highest Stage of the Capitalism, in Zürich, during the January–June period; he sent it to Parus, a Petrograd-based publishing house set up by the writer Maxim Gorky, a five times nominee for the Nobel Prize in Literature and Lenin's friend; it would become a part of a series of popular surveys of West ...