- Words: 1716
- Length: 5 Pages
- Topic: Government
- Paper #: 41146430
Capitalism is "an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market"
As we can see from this definition, according to the Webster definition, there are two main characteristics for capitalism, both economic: a private ownership of capital goods and the role