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

The CEOs 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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Capitalism is a political, social, and economic system that is based on the idea that individuals can own private property and operate for a profit.

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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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