Capitalism
CAPITALISM
To began we must first ask ourselves what is capitalism? Capitalism is
defined as a social system based on the principle of individual rights.
Capitalism also called Free Market Economy, or Free Enterprise Economy,
economic system, dominant in the Western world since the breakup of
feudalism, in which most of the means of production are privately owned and
production is guided and income distributed largely through the operation of
markets.
Although the continuous development …
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…Europe to the United States, and trade barriers multiplied. The Great
Depression of the 1930s brought the policy of laissez-faire
(noninterference by the state in economic matters) to an end in most
countries and for a time cast doubt on the capitalist system as a whole. The
performance of capitalism since World War II in the United States, the
United Kingdom, West Germany, and Japan, however, has given evidence of
its continued vitality.
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