Ida is grateful that the U.S. government supports capitalism since she is a small business owner willing to work hard to create her own success.
An example of capitalism is the prison system in the United States being operated by private companies.
- an economic system in which all or most of the means of production and distribution, as land, factories, communications, and transportation systems, are privately owned and operated in a relatively competitive environment through the investment of capital to produce profits: it has been characterized by a tendency toward the concentration of wealth, the growth of large corporations, etc. that has led to economic inequality, which has been dealt with usually by increased government action and control
- the principles, methods, interests, power, influence, etc. of capitalists, especially of those with large holdings
(countable and uncountable, plural capitalisms)
- (politics, uncountable) a socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a market unregulated by the state.
- (economics, uncountable) a socio-economic system based on the abstraction of resources into the form of privately owned capital, with economic decisions made largely through the operation of a market unregulated by the state.
- (countable) a specific variation or implementation of either such socio-economic system.
From French capitalisme (“the condition of one who is rich”). First used in English by novelist William Thackeray in 1854.
capitalism - Investment & Finance Definition
An economic and business system that rewards individual effort by giving successful individuals and companies the right to keep the profits from their activities. Most of the land, factories, manufacturing, transportation, and communication systems are privately owned and operated in relatively competitive environments, where businesses and individuals seek to increase their profits. Capital is raised in order to fund activities and produce profits. Property and businesses are privately owned and typically the government plays a minor role in directing business.
capitalism - Legal Definition