capitalism

Definition

Economic system characterized by the following: private property ownership exists; individuals and companies are allowed to compete for their own economic gain; and free market forces determine the prices of goods and services. Such a system is based on the premise of separating the state and business activities. Capitalists believe that markets are efficient and should thus function without interference, and the role of the state is to regulate and protect.

Use capitalism in a sentence

I liked capitalism a lot, but I didn't like the fact that it caused some people to fail that tried really hard.

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The fact that the rich get richer and the poor only seem to grow more so over time, is simply one of the harsh realities of capitalism.

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The CEO's of a few major companies were quite angry when the government attempted to go against capitalism by imposing caps on their profits.

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mixed economy crony capitalism