What is capitalism in economics?

Capitalism is an economic system characterized by limited government intervention, where decisions are primarily made by individuals and corporations, and goods are produced for profit. While capitalism has led...

What are the common features of capitalism?

The common features among all the different forms of capitalism are that they are predominantly based on the private ownership of the means of production and the production of goods and services for profit; the market-based allocation of resources; and the accumulation of capital.

Is capitalism a dynamism?

Capitalism is a system of largely private ownership that is open to new ideas, new firms and new owners—in short, to new capital. Capitalism’s rationale to proponents and critics alike has long been recognized to be its dynamism, that is, its innovations and, more subtly, its selectiveness in the innovations it tries out.