Definition, Meaning & Synonyms
capitalism
noun
/ˈkæpɪtəlɪzəm/
Definition
An economic system where private individuals or companies own and control trade and industry rather than the state.
Examples
- In a capitalist economy, businesses operate with minimal government intervention.
- Many believe that capitalism encourages innovation and individual freedom.
- The rise of technology has transformed capitalism in recent decades.
Meaning
Capitalism is characterized by private property, free markets, and the profit motive, allowing individuals to pursue their economic interests.
Synonyms
- free enterprise
- market economy
- private enterprise
