What is capitalism and what are its effects?

Question

What is capitalism and what are its effects?

Answer 1

Give me 10 points and I'll tell you.

Answer 2

Capitalism is the idea in which there is private ownership - make your own money, buy your own house, own your own house etc. It is the opposite of communism, which is the idea of which there is no private ownership and everything belongs to the state/country, so the houses are given to people by the government but can be taken away from the people if the government wishes to give it to another family more suited to the home. Capitalism is less extreme the Laissez-faire, which in my opinion, is too extreme. It's effects? well you get more freedom in terms of ownership but then money issues become risky btw China may be a communist country but it's fiercely capitalist