What is Capitalism?

Question

Please explain further.

Answer 1

Capitalism is an economic system; where the system is using a laissez faire concept (free hand concept). This idea allows everyone to sell anything based on the demand of the consumers. The govt cannot interfere on the price market and producers are free to put on their goods' prices.

Advantages:

1) Producers are more competitive and the result is better goods.

2) Higher quality output and better export.

Disadvantages:

1) The price mechanism is based on the demand, so if the demand is high, producers can easily inflate the price;where only the rich are able to buy the goods

2) Govt cant interfere; so no price control!

3) Higher competition leads towards waste of source.

Hope it'll help, wanna know more info check out wikipedia!

Answer 2

capitalism is basically the way Carl Marx says our society is and always will be "the rich will always get richer as the poor gets poorer " as 7% percent of the poulation own  87% of the wealth

as long as the rich own the land michenary estates ect then the poor will always be suppresed

Answer 3

Capitalism =  Freedom.

The ability to pursue anything you want and being rewarded with the fruits (ie: profits) of your labor. If somebody has a better idea for a mouse trap, then a capitalist market provides the vehicle to make it happen. Whereas under Socialism, the Government will determine if your mouse trap should prevail or if the state sanctioned mouse trap is best your idea will be squashed, even if it is better.

The Government does not control the economy, the markets do under Capitalism.

Answer 4

It is an "every man for himself" economy.