capitalism

The definition of capitalism is an economic system in which the means of production and distribution are privately or corporately owned and the operations are funded by profits.

(noun)

An example of capitalism is the prison system in the United States being operated by private companies.

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See capitalism in Webster's New World College Dictionary

noun

  1. 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
  2. the principles, methods, interests, power, influence, etc. of capitalists, especially of those with large holdings

See capitalism in American Heritage Dictionary 4

noun
An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market.

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