Meaning & Definition of word "Capitalism"
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Capitalism
/ˈkæpɪtəlɪzəm/
noun:
- 1. An economic system characterized by private or corporate ownership of capital goods, and the production of goods and services for profit in a competitive marketplace.
- Example: Capitalism has driven innovation and economic growth in many countries.
- 2. A political and economic system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
- Example: Under capitalism, individuals have the freedom to start their own businesses.
- 3. A broad term that can encompass various economic theories and practices that prioritize individual investment and profit over state control.
- Example: Critics of capitalism argue that it leads to inequality and exploitation.
Etymology
The term 'capitalism' originated in the mid-19th century, derived from the word 'capital,' which refers to wealth or assets.
Common Phrases and Expressions
free market:
An economic system where prices are determined by unrestricted competition between privately owned businesses.
laissez-faire:
An economic philosophy of leaving things to take their own course, without interference.
trickle-down economics:
An economic theory that holds that benefits for the wealthy will ultimately benefit poorer members of society.
Related Words
capital:
Wealth in the form of money or assets owned by a person or organization.
entrepreneurship:
The process of starting and running a new business, often in a capitalist economy.
privatization:
The transfer of ownership of a business, enterprise, or public service from the government to private individuals.
Slang Meanings of capitalism
Meaning: The system that prioritizes profit over social welfare.
Example Sentence: In this town, capitalism has turned everything into a business opportunity.
Meaning: The game of accumulating wealth through competition.
Example Sentence: She said life is just capitalism—some people win, and others lose.