an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.
Also called “free enterprise”, “private enterprise”, an economic system based on the private ownership of the means of production, distribution, and exchange, characterized by the freedom of capitalists to operate or manage their property for profit in competitive conditions Compare socialism
An economic and political system characterized by a free market for goods and services and private control of production and consumption. ( Compare socialism and communism .)
Some people will use this term to describe the USA and EU but not China. They will say they want to destroy capitalism (but not China).
Dictionary says:
capitalism
[ kap-i-tl-iz-uhm ] noun
an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.
Also called “free enterprise”, “private enterprise”, an economic system based on the private ownership of the means of production, distribution, and exchange, characterized by the freedom of capitalists to operate or manage their property for profit in competitive conditions Compare socialism
An economic and political system characterized by a free market for goods and services and private control of production and consumption. ( Compare socialism and communism .)
Some people will use this term to describe the USA and EU but not China. They will say they want to destroy capitalism (but not China).