Why I Suport Capitalism

Definition of Capitalism

A system of economics based on the private ownership of capital and production inputs, and on the production of goods and services for profit. The production of goods and services is based on supply and demand in the general market, rather than through central planning.

Into Detail

Capitalism is often closely associated with economic growth, as production and price are determined by the market rather than by governments. Capitalism has been criticized for its underlying focus on profit, and how that focus can lead to social and economic inequality. Further, it is also criticized for its emphasis on consumption, as the constant purchase of goods and services is necessary for capitalism's success. Private property rights provide individuals with the freedom to produce goods and services they can sell in the market.