Capitalism

Where the rich stay rich and in control!

Capitalism is the system for you!

In capitalism, the rich control the aspects and factors of production. The production of goods in capitalism is dependent on supply and demand. It is more of a market economy rather than a planned economy. This system is the best because production prices are determined by how the market is doing, not the government setting prices.


Adam Smith was the creator of capitalism. He was a Scottish philosopher. He wrote "The Wealth of Nations" which was a piece of literature designed to overthrow the mercantilism system.



This plan was extremely successful because it was related to economic success. Many of the rich enjoyed keeping the factors of production to themselves. Since they controlled most of the government, they got their way.


Some countries that practice capitalism are: Germany, USA, India, and Japan. Although no country is truly completely capitalist, the philosophy is being followed through certain aspects of government in different countries.