CAPITALISM

WHY IS IT SO GREAT?

WHAT IS CAPITALISM?

Capitalism is a political system which country's trade and industry are controlled by private owner's for profit, rather than by the sate.

PROS OF CAPITALISM:

  • Economic freedom helps political freedom. If government own the means of production and set prices, it invariably leads to a powerful state and creates a large bureaucracy which may extend into other areas of life.
  • Efficiency.
  • Economic growth.