Taylor Presley

Capitalism Defintion

an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state

Examples of Capitalims

Capitalism is the social system which now exists in all countries of the world. Under this system, the means for producing and distributing goods (the land, factories, technology, transport system etc) are owned by a small minority of people. We refer to this group of people as the capitalist class. The majority of people must sell their ability to work in return for a wage or salary (who we refer to as the working class.)