Explaining Capitalism: What Capitalism Is and How It Works

Опубликовано: 20 Февраль 2023
на канале: This Time It's Different

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Capitalism is an economic system in which individuals and private businesses own and control the means of production and distribution of goods and services. In a capitalist economy, supply and demand determine how resources are allocated and goods are distributed. Private property rights and free markets are the core of capitalism, allowing individuals to pursue their own economic interests without interference from the government. Capitalism is often associated with innovation, competition, and entrepreneurship, but also with income inequality and the potential for market failures. It has been widely adopted by developed and developing countries, and has evolved over time through different economic systems, including mercantilism, industrial capitalism, and neoliberalism.

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• Explaining Capitalism: What Capitalis...