Prices serve as a signal as to the urgent and unfilled wants of people and the opportunity to earn profits if successful, or absorb losses if resources are used poorly or left idle, gives entrepreneurs incentive to use their knowledge and resources to satisfy those wants. Thus the activities of millions of people, each seeking his own interest, are coordinated. The novelist and philosopher Ayn Rand made positive moral defenses of laissez-faire capitalism, most notably in her novel Atlas Shrugged and in her collection of essays Capitalism: The Unknown Ideal.
She argued that capitalism should be supported on moral grounds, not just on the basis of practical benefits. Although the term "liberalism" retains its original meaning in most of the world, it has unfortunately come to have a very different meaning in late twentieth-century America. Hence terms such as "market liberalism," "classical liberalism," or "libertarianism" are often used in its place in America. From Wikipedia, the free encyclopedia. This is the latest accepted revision , reviewed on 11 November This article is about economic policy.
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For other uses, see Capitalism disambiguation. Economic system based on private ownership. Economic systems. Economic theories. Related topics. Anti-capitalism Capitalist state Consumerism Crisis theory Criticism of capitalism Cronyism Culture of capitalism Exploitation Globalization History History of theory Market economy Periodizations of capitalism Perspectives on capitalism Post-capitalism Speculation Spontaneous order Venture philanthropy. Anarcho-capitalism Authoritarian capitalism Democratic capitalism Dirigism Eco-capitalism Humanistic capitalism Inclusive capitalism Liberal capitalism Liberalism Libertarian capitalism Neo-capitalism Neoliberalism Objectivism Ordoliberalism Right-libertarianism Social democracy.
By ideology. By coordination. By regional model. Common ownership Private Public Voluntary. Property types. Collective ownership Commons Private property State ownership Social ownership. Other types.
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Main article: History of capitalism. Main article: Mercantilism. This section needs expansion. You can help by adding to it.
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February Further information: Academic perspectives on capitalism. Main article: Profit motive. Main article: Private property.
Main article: Competition economics. Further information: Mode of production. Main article: Supply and demand. Further information: Economic equilibrium. Main article: Partial equilibrium. Further information: Competition regulator , Consumer protection , and Competition law.
Main article: Advanced capitalism. Main article: Finance capitalism. See also: Capitalist mode of production Marxist theory. Main articles: Mercantilism and Protectionism. See also: Free market and Laissez-faire. Main articles: Social market and Nordic model.
Main article: State capitalism. Main article: Corporate capitalism.
See also: State monopoly capitalism and Crony capitalism. Main article: Mixed economy. See also: Economic interventionism. Anarcho-capitalism Community capitalism Humanistic economics Neo-capitalism State monopoly capitalism Supercapitalism Technocapitalism Welfare capitalism. Main article: Capital accumulation. Further information: Money. Main article: Wage labour. Main article: Criticism of capitalism. Main article: Wage slavery. The slave, together with his labour-power, was sold to his owner once for all. Main article: Marxian economics. Capital controversy Crisis theory Economic determinism Immiseration thesis Historical materialism Okishio's theorem Overaccumulation Overdetermination Overproduction Kondratiev wave Technological determinism Technological unemployment Temporal single-system interpretation.
A Contribution to the Critique of Political Economy. Economic and Philosophical Manuscripts of The Theory of Capitalist Development. Cambridge Journal of Economics.
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International Journal of Political Economy. Evolutionary economics Classical economics Marxism Marxist sociology Neoclassical economics Perspectives on capitalism Political economy Schools of economic thought Socialist economics Critiques of capitalism. Main articles: Externality and Commons. Capitalism disambiguation Communism Animal industrial complex Anti-capitalism Christian views on poverty and wealth Corporatocracy Crony capitalism Economic sociology Free Market Humanistic economics Invisible hand Late capitalism Le Livre noir du capitalisme — French book The Black Book of Capitalism Market socialism Perspectives on capitalism by school of thought Post-capitalism Post-Fordism Rent-seeking State monopoly capitalism Sustainable capitalism Global financial crisis in September Harcourt College Pub.
Pure capitalism is defined as a system wherein all of the means of production physical capital are privately owned and run by the capitalist class for a profit, while most other people are workers who work for a salary or wage and who do not own the capital or the product. Comparative Economics in a Transforming World Economy. MIT Press. In capitalist economies, land and produced means of production the capital stock are owned by private individuals or groups of private individuals organized as firms.
Core Sociological Dichotomies. Steven N. Durlauf and Lawrence E. Blume, eds. The New Palgrave Dictionary of Economics. Palgrave Macmillan, doi : Baptist American Capitalism: A Reader. The Global Economy and its Economic Systems.