cap·i·tal·ism (kăpĭ-tl-ĭz′əm
n.
An economic system in which the means of production and distribution are privately or corporately owned and development occurs through the accumulation and reinvestment of profits gained in a free market.
Have you noticed that the systems where the means of production are government controlled are always working on the last Important thing and not the next? The things that make your life better, from smart phones to life saving drugs, come from capitalistic countries. When the means of production are controlled by "the people," it's actually controlled by trade unions, who keep benefits for the insiders at the expense of all others.
n.
An economic system in which the means of production and distribution are privately or corporately owned and development occurs through the accumulation and reinvestment of profits gained in a free market.
Have you noticed that the systems where the means of production are government controlled are always working on the last Important thing and not the next? The things that make your life better, from smart phones to life saving drugs, come from capitalistic countries. When the means of production are controlled by "the people," it's actually controlled by trade unions, who keep benefits for the insiders at the expense of all others.