For other uses, see
Capitalism (disambiguation). Capitalism generally refers to an
economic system in which the
means of production are all or mostly privately owned and operated for
profit, and in which
investments,
distribution,
income,
production and
pricing of
goods and
services are determined through the operation of a
market economy. It is usually considered to involve the right of individuals and groups of individuals acting as "legal persons" or
corporations to
trade capital goods,
labor, land and
money (see
finance and
credit). Capitalism has been dominant in the Western world since the break up of
feudalism, but some feel that the term "
mixed economies" more precisely describes most contemporary economies, due to these economies containing both
private-owned and
state-owned enterprises, or that combines elements of capitalism and
socialism, or a mix of
market economy and
planned economy characteristics.
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