Meaning & Definition of word "Capitalism"

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.