Definition, Meaning & Synonyms

capitalism

noun

ˈkæpɪtəlɪzəm

Definition

Capitalism is an economic system where private individuals or businesses own capital goods and are responsible for their production and distribution.

Examples

Under capitalism, consumers have the power to influence the market through their purchasing choices.
Many countries practice a form of capitalism, allowing for personal ownership and profit-making enterprises.
Critics of capitalism argue that it can lead to inequality and exploitation.

Meaning

It refers to a system where the country’s trade and industry are controlled by private owners, rather than by the state, with the aim of making a profit.